denkapparat Operations GmbH
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), denkapparat Operations GmbH reported 242 stock positions worth $125.3 million. Its top holding was Toronto-Dominion Bank (TD) at 1.3% of the portfolio, followed by Interdigital (IDCC, 1.3%) and Qualcomm (QCOM, 1.3%). Compared with Q1 2025, it opened 58 new positions, sold out of 30, added to 104 and reduced 31. The biggest buy was a new position in Toronto-Dominion Bank (TD) and the biggest sale an exit from General Mills (GIS).
- Most Recent 13F
- Q2 2026
- Location
- BERLIN, 2M
- CIK
- 0001999514
- Portfolio Value
- $125.3M (Q2 2025)
- SEC Filing
- 0001999514-25-000006 ↗ filed Aug 8, 2025
Holdings Value
Holdings 242 stocks · $125.3M
| TD Toronto-Dominion Bank | 1.33% | 22,600 | $1.7M | New |
| IDCC Interdigital Inc. | 1.31% | 7,340 | $1.6M | No change |
| QCOM Qualcomm Inc. | 1.30% | 10,234 | $1.6M | Add +14.6% |
| NEM Newmont Corp. | 1.25% | 26,916 | $1.6M | Add +40.1% |
| AAPL Apple Inc. | 1.24% | 7,544 | $1.5M | Add +29.1% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 1.11% | 15,088 | $1.4M | Add +25.8% |
| MSFT Microsoft Corp. | 1.03% | 2,584 | $1.3M | Add +70.0% |
| EME Emcor Group Inc. | 1.00% | 2,348 | $1.3M | Add +30.0% |
| CALM Cal-Maine Foods Inc. | 0.97% | 12,242 | $1.2M | Add +18.9% |
| ACI Albertsons Cos Inc. Class A | 0.96% | 56,120 | $1.2M | Add +70.1% |
| LRCX Lam Research Corp. | 0.96% | 12,346 | $1.2M | Add +10.7% |
| NVDA Nvidia Corp. | 0.90% | 7,144 | $1.1M | Add +46.6% |
| AMAT Applied Materials Inc. | 0.90% | 6,128 | $1.1M | Add +39.0% |
| BMY Bristol-Myers Squibb Co. | 0.89% | 24,204 | $1.1M | Add +64.1% |
| MO Altria Group Inc. | 0.87% | 18,594 | $1.1M | Add +9.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.87% | 8,786 | $1.1M | Add +26.1% |
| GOOGL Alphabet Inc. Class A | 0.87% | 6,154 | $1.1M | New |
| EXEL Exelixis Inc. | 0.84% | 23,930 | $1.1M | No change |
| JLL Jones Lang Lasalle Inc. | 0.77% | 3,774 | $965K | Add +39.6% |
| KLAC KLA Corp. | 0.74% | 1,040 | $932K | Add +8.3% |
| LHX L3HARRIS Technologies Inc. | 0.74% | 3,710 | $931K | Reduce -4.7% |
| EA Electronic Arts Inc. | 0.73% | 5,756 | $919K | Add +144.1% |
| FOXA Fox Corp. Class A | 0.73% | 16,328 | $915K | Add +17.2% |
| MRK Merck & Co. Inc. | 0.73% | 11,554 | $915K | No change |
| ED Consolidated Edison Inc. | 0.72% | 8,958 | $899K | Reduce -24.8% |
| JPM JPMorgan Chase & Co. | 0.71% | 3,066 | $889K | No change |
| BYD Boyd Gaming Corp. | 0.69% | 11,126 | $870K | Add +19.0% |
| AIG American International Group | 0.69% | 10,066 | $862K | Add +29.6% |
| CNQ Canadian Natural Resources | 0.67% | 26,800 | $843K | Add +41.8% |
| NFLX Netflix Inc. | 0.67% | 628 | $841K | Add +30.3% |
| INTU Intuit Inc. | 0.66% | 1,054 | $830K | New |
| PFE Pfizer Inc. | 0.65% | 33,572 | $814K | Add +12.6% |
| CNK Cinemark Holdings Inc. | 0.64% | 26,692 | $806K | Add +26.4% |
| JBL Jabil Inc. | 0.64% | 3,678 | $802K | Add +4.0% |
| CMCSA Comcast Corp. Class A | 0.64% | 22,470 | $802K | Add +71.8% |
| ULTA Ulta Beauty Inc. | 0.64% | 1,710 | $800K | Add +11.9% |
| CNC Centene Corp. | 0.64% | 14,710 | $798K | Add +86.2% |
| EOG EOG Resources Inc. | 0.64% | 6,654 | $796K | No change |
| NRG NRG Energy Inc. | 0.63% | 4,950 | $795K | Add +74.3% |
| CSCO Cisco Systems Inc. | 0.63% | 11,376 | $789K | New |
| KGC Kinross Gold Corp. | 0.63% | 50,450 | $789K | Add +28.2% |
| PHM Pultegroup Inc. | 0.62% | 7,406 | $781K | Add +12.1% |
| UHS Universal Health Services-B | 0.62% | 4,294 | $778K | Add +10.3% |
| JNJ Johnson & Johnson | 0.62% | 5,074 | $775K | Add +51.8% |
| GD General Dynamics Corp. | 0.62% | 2,644 | $771K | Add +81.8% |
| PYPL PayPal Holdings Inc. | 0.62% | 10,368 | $771K | Add +22.4% |
| GILD Gilead Sciences Inc. | 0.61% | 6,940 | $769K | Reduce -35.4% |
| ADBE Adobe Inc. | 0.61% | 1,988 | $769K | No change |
| INCY Incyte Corp. | 0.61% | 11,292 | $769K | Add +46.1% |
| SU Suncor Energy Inc. | 0.61% | 20,500 | $768K | No change |
| DOCU Docusign Inc. | 0.61% | 9,842 | $767K | No change |
| AMGN Amgen Inc. | 0.61% | 2,724 | $761K | Add +41.6% |
| UBER Uber Technologies Inc. | 0.60% | 8,100 | $756K | Add +9.5% |
| UTHR United Therapeutics Corp. | 0.60% | 2,600 | $747K | Add +49.9% |
| EXPD Expeditors Intl Wash Inc. | 0.58% | 6,410 | $732K | Add +8.5% |
| OVV Ovintiv Inc. | 0.58% | 19,236 | $732K | Add +38.2% |
| LMT Lockheed Martin Corp. | 0.58% | 1,572 | $728K | Add +151.9% |
| IDXX Idexx Laboratories Inc. | 0.58% | 1,356 | $727K | Add +35.9% |
| META Meta Platforms Inc. Class A | 0.58% | 980 | $723K | Add +16.7% |
| CMI Cummins Inc. | 0.57% | 2,178 | $713K | No change |
| EXPE Expedia Group Inc. | 0.56% | 4,174 | $704K | Add +16.8% |
| EIX Edison International | 0.56% | 13,632 | $703K | Add +12.4% |
| BKNG Booking Holdings Inc. | 0.55% | 118 | $683K | Reduce -7.8% |
| YELP Yelp Inc. | 0.54% | 19,826 | $679K | Add +13.1% |
| GM General Motors Co. | 0.54% | 13,764 | $677K | Add +18.0% |
| R Ryder System Inc. | 0.53% | 4,184 | $665K | Add +60.9% |
| MEDP Medpace Holdings Inc. | 0.53% | 2,118 | $665K | Add +67.8% |
| EBAY eBay Inc. | 0.53% | 8,876 | $661K | Add +112.8% |
| ORI Old Republic Intl Corp. | 0.52% | 16,900 | $650K | Add +80.0% |
| CI The Cigna Group | 0.51% | 1,930 | $638K | New |
| ZM Zoom Communications Inc. | 0.49% | 7,938 | $619K | Add +97.8% |
| KMB Kimberly-Clark Corp. | 0.49% | 4,742 | $611K | No change |
| ELV Elevance Health Inc. | 0.49% | 1,564 | $608K | New |
| OZK Bank Ozk | 0.49% | 12,912 | $608K | Add +65.4% |
| CL Colgate-Palmolive Co. | 0.48% | 6,682 | $607K | Add +63.1% |
| FE Firstenergy Corp. | 0.48% | 14,814 | $596K | No change |
| ALL Allstate Corp. | 0.46% | 2,852 | $574K | Reduce -8.2% |
| AIZ Assurant Inc. | 0.45% | 2,870 | $567K | Add +90.6% |
| UNP Union Pacific Corp. | 0.45% | 2,450 | $564K | Reduce -7.5% |
| EXC Exelon Corp. | 0.45% | 12,904 | $560K | Add +15.0% |
| EAT Brinker International Inc. | 0.44% | 3,082 | $556K | Add +62.9% |
| ZTS Zoetis Inc. | 0.44% | 3,514 | $548K | No change |
| FLEX Flex Ltd. | 0.44% | 10,930 | $546K | Add +13.5% |
| PNC PNC Financial Services Group | 0.43% | 2,900 | $541K | Add +26.1% |
| BIIB Biogen Inc. | 0.43% | 4,240 | $533K | Add +30.9% |
| MA Mastercard Inc. Class A | 0.42% | 946 | $532K | Add +5.6% |
| AN Autonation Inc. | 0.42% | 2,672 | $531K | Add +10.3% |
| ADSK Autodesk Inc. | 0.42% | 1,700 | $526K | New |
| MLI Mueller Industries Inc. | 0.42% | 6,588 | $524K | Add +80.3% |
| ENS Enersys | 0.42% | 6,086 | $522K | Add +15.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.41% | 4,194 | $518K | Reduce -24.1% |
| ITW Illinois Tool Works | 0.41% | 2,084 | $515K | Reduce -0.9% |
| FDS Factset Research Systems Inc. | 0.41% | 1,148 | $513K | No change |
| UAL United Airlines Holdings Inc. | 0.41% | 6,374 | $508K | Reduce -3.0% |
| CRUS Cirrus Logic Inc. | 0.41% | 4,866 | $507K | Add +35.0% |
| FIX Comfort Systems USA Inc. | 0.40% | 938 | $503K | New |
| CCK Crown Holdings Inc. | 0.40% | 4,852 | $500K | New |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.40% | 5,470 | $498K | No change |
| KD Kyndryl Holdings Inc. | 0.39% | 11,738 | $493K | Add +40.1% |
| TPR Tapestry Inc. | 0.39% | 5,572 | $489K | New |
Portfolio Sells Q1 2025 → Q2 2025
| GIS General Mills Inc. | Sold out | 0.00% | −0.77 |
| PNW Pinnacle West Capital | Sold out | 0.00% | −0.77 |
| ED Consolidated Edison Inc. | Reduce -24.8% | 0.72% | −0.68 |
| GILD Gilead Sciences Inc. | Reduce -35.4% | 0.61% | −0.66 |
| TRV The Travelers Cos Inc. | Sold out | 0.00% | −0.66 |
| CVX Chevron Corp. | Reduce -52.3% | 0.29% | −0.65 |
| CORT Corcept Therapeutics Inc. | Sold out | 0.00% | −0.61 |
| MKL Markel Group Inc. | Sold out | 0.00% | −0.50 |
| COR Cencora Inc. | Sold out | 0.00% | −0.48 |
| AFL Aflac Inc. | Sold out | 0.00% | −0.48 |
| ABT Abbott Laboratories | Sold out | 0.00% | −0.38 |
| MU Micron Technology Inc. | Sold out | 0.00% | −0.37 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -37.5% | 0.27% | −0.36 |
| CINF Cincinnati Financial Corp. | Sold out | 0.00% | −0.34 |
| LYV Live Nation Entertainment Inc. | Sold out | 0.00% | −0.33 |
| NOC Northrop Grumman Corp. | Sold out | 0.00% | −0.32 |
| UNM Unum Group | Sold out | 0.00% | −0.30 |
| TJX TJX Companies Inc. | Reduce -24.1% | 0.41% | −0.30 |
| TMUS T-Mobile US Inc. | Reduce -44.1% | 0.18% | −0.30 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.29 |
| MET Metlife Inc. | Sold out | 0.00% | −0.29 |
| VRSN Verisign Inc. | Sold out | 0.00% | −0.29 |
| ENPH Enphase Energy Inc. | Sold out | 0.00% | −0.29 |
| WFC Wells Fargo & Co. | Sold out | 0.00% | −0.29 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.27 |
| KHC The Kraft Heinz Co. | Sold out | 0.00% | −0.27 |
| BKR Baker Hughes Co. | Sold out | 0.00% | −0.27 |
| BAH Booz Allen Hamilton Holdings | Reduce -31.4% | 0.29% | −0.27 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −0.25 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.25 |
| AVY Avery Dennison Corp. | Sold out | 0.00% | −0.25 |
| COP Conocophillips | Sold out | 0.00% | −0.25 |
| HSY The Hershey Co. | Sold out | 0.00% | −0.24 |
| EVRG Evergy Inc. | Reduce -31.5% | 0.25% | −0.24 |
| LNTH Lantheus Holdings Inc. | Sold out | 0.00% | −0.23 |
| ALL Allstate Corp. | Reduce -8.2% | 0.46% | −0.22 |
| EMN Eastman Chemical Co. | Sold out | 0.00% | −0.22 |
| SUPN Supernus Pharmaceuticals Inc. | Sold out | 0.00% | −0.21 |
| CTAS Cintas Corp. | Sold out | 0.00% | −0.21 |
| UNP Union Pacific Corp. | Reduce -7.5% | 0.45% | −0.21 |
| D Dominion Energy Inc. | Reduce -26.5% | 0.26% | −0.20 |
| AYI Acuity Inc. | Reduce -39.8% | 0.17% | −0.16 |
| ITW Illinois Tool Works | Reduce -0.9% | 0.41% | −0.14 |
| DCI Donaldson Co. Inc. | Reduce -21.6% | 0.21% | −0.14 |
| LHX L3HARRIS Technologies Inc. | Reduce -4.7% | 0.74% | −0.12 |
| DTE DTE Energy Company | Reduce -4.4% | 0.23% | −0.10 |
| V Visa Inc. Class A | Reduce -2.0% | 0.27% | −0.09 |
| LNG Cheniere Energy Inc. | Reduce -1.1% | 0.33% | −0.09 |
| MS Morgan Stanley | Reduce -21.8% | 0.23% | −0.09 |
| BKNG Booking Holdings Inc. | Reduce -7.8% | 0.55% | −0.08 |
Portfolio Buys Q1 2025 → Q2 2025
| TD Toronto-Dominion Bank | New | 1.33% | +1.33 |
| GOOGL Alphabet Inc. Class A | New | 0.87% | +0.87 |
| INTU Intuit Inc. | New | 0.66% | +0.66 |
| CSCO Cisco Systems Inc. | New | 0.63% | +0.63 |
| CI The Cigna Group | New | 0.51% | +0.51 |
| ELV Elevance Health Inc. | New | 0.49% | +0.49 |
| MSFT Microsoft Corp. | Add +70.0% | 1.03% | +0.42 |
| ADSK Autodesk Inc. | New | 0.42% | +0.42 |
| FIX Comfort Systems USA Inc. | New | 0.40% | +0.40 |
| CCK Crown Holdings Inc. | New | 0.40% | +0.40 |
| TPR Tapestry Inc. | New | 0.39% | +0.39 |
| EA Electronic Arts Inc. | Add +144.1% | 0.73% | +0.37 |
| LVS Las Vegas Sands Corp. | New | 0.37% | +0.37 |
| SLF Sun Life Financial Inc. | New | 0.36% | +0.36 |
| PTC PTC Inc. | New | 0.36% | +0.36 |
| NRG NRG Energy Inc. | Add +74.3% | 0.63% | +0.35 |
| AEM Agnico Eagle Mines Ltd. | New | 0.34% | +0.34 |
| NVDA Nvidia Corp. | Add +46.6% | 0.90% | +0.34 |
| GS Goldman Sachs Group Inc. | New | 0.34% | +0.34 |
| NTRA Natera Inc. | New | 0.33% | +0.33 |
| NTAP Netapp Inc. | New | 0.33% | +0.33 |
| LEN Lennar Corp. Class A | New | 0.33% | +0.33 |
| UGI Ugi Corp. | New | 0.33% | +0.33 |
| FAF First American Financial | New | 0.32% | +0.32 |
| MTN Vail Resorts Inc. | New | 0.31% | +0.31 |
| AVGO Broadcom Inc. | New | 0.30% | +0.30 |
| EME Emcor Group Inc. | Add +30.0% | 1.00% | +0.30 |
| LMT Lockheed Martin Corp. | Add +151.9% | 0.58% | +0.29 |
| PEN Penumbra Inc. | New | 0.28% | +0.28 |
| NJR New Jersey Resources Corp. | New | 0.28% | +0.28 |
| INGR Ingredion Inc. | New | 0.28% | +0.28 |
| NEM Newmont Corp. | Add +40.1% | 1.25% | +0.27 |
| AOS Smith (a.o.) Corp. | New | 0.27% | +0.27 |
| ABNB Airbnb Inc. Class A | New | 0.27% | +0.27 |
| AVA Avista Corp. | New | 0.27% | +0.27 |
| MSI Motorola Solutions Inc. | New | 0.26% | +0.26 |
| AMZN Amazon.com Inc. | New | 0.25% | +0.25 |
| EMA Emera Inc. | New | 0.25% | +0.25 |
| LAUR Laureate Education Inc. | New | 0.25% | +0.25 |
| QLYS Qualys Inc. | New | 0.24% | +0.24 |
| DOX Amdocs Ltd. | New | 0.24% | +0.24 |
| CROX Crocs Inc. | New | 0.24% | +0.24 |
| KR Kroger Co. | New | 0.24% | +0.24 |
| JBHT Hunt (jb) Transprt SVCS Inc. | New | 0.23% | +0.23 |
| EBAY eBay Inc. | Add +112.8% | 0.53% | +0.23 |
| NEU Newmarket Corp. | New | 0.22% | +0.22 |
| EQH Equitable Holdings Inc. | New | 0.22% | +0.22 |
| AMAT Applied Materials Inc. | Add +39.0% | 0.90% | +0.22 |
| APA Apa Corp. | New | 0.21% | +0.21 |
| CW Curtiss-Wright Corp. | New | 0.21% | +0.21 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 383 | $305.9M | ASML, AMAT, LRCX, ALL, NVDA |
| Q1 2026 | 333 | $241.6M | ASML, ERIC, LOGI, SU, CB |
| Q4 2025 | 294 | $183.9M | IDCC, NEM, LRCX, BMY, ADBE |
| Q3 2025 | 274 | $156.7M | TD, IDCC, NEM, QCOM, LRCX |
| Q2 2025 | 242 | $125.3M | TD, IDCC, QCOM, NEM, AAPL |
| Q1 2025 | 214 | $94.5M | IDCC, QCOM, ED, AAPL, GILD |
| Q4 2024 | 164 | $67.7M | MRK, IDCC, JPM, AAPL, QCOM |