denkapparat Operations GmbH
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), denkapparat Operations GmbH reported 294 stock positions worth $183.9 million. Its top holding was Interdigital (IDCC) at 1.3% of the portfolio, followed by Newmont (NEM, 1.2%) and Lam Research (LRCX, 1.1%). Compared with Q3 2025, it opened 46 new positions, sold out of 26, added to 69 and reduced 30. The biggest buy was a new position in M & T Bank (MTB) and the biggest sale an exit from Toronto-Dominion Bank (TD).
- Most Recent 13F
- Q2 2026
- Location
- BERLIN, 2M
- CIK
- 0001999514
- Portfolio Value
- $183.9M (Q4 2025)
- SEC Filing
- 0001999514-26-000001 ↗ filed Feb 12, 2026
Holdings Value
Holdings 294 stocks · $183.9M
| IDCC Interdigital Inc. | 1.27% | 7,340 | $2.3M | No change |
| NEM Newmont Corp. | 1.22% | 22,534 | $2.3M | Reduce -16.3% |
| LRCX Lam Research Corp. | 1.15% | 12,346 | $2.1M | No change |
| BMY Bristol-Myers Squibb Co. | 1.15% | 39,104 | $2.1M | Add +10.6% |
| ADBE Adobe Inc. | 1.00% | 5,240 | $1.8M | Add +37.5% |
| CMCSA Comcast Corp. Class A | 0.96% | 59,016 | $1.8M | Add +127.1% |
| QCOM Qualcomm Inc. | 0.95% | 10,234 | $1.8M | No change |
| MRK Merck & Co. Inc. | 0.91% | 15,882 | $1.7M | Add +37.5% |
| KGC Kinross Gold Corp. | 0.90% | 58,560 | $1.6M | No change |
| BYD Boyd Gaming Corp. | 0.84% | 18,196 | $1.6M | Add +39.7% |
| NVDA Nvidia Corp. | 0.82% | 8,052 | $1.5M | Add +12.7% |
| FOXA Fox Corp. Class A | 0.80% | 20,104 | $1.5M | Add +11.4% |
| AAPL Apple Inc. | 0.79% | 5,358 | $1.5M | Reduce -13.2% |
| GILD Gilead Sciences Inc. | 0.79% | 11,788 | $1.4M | Add +135.4% |
| MSFT Microsoft Corp. | 0.77% | 2,942 | $1.4M | Add +13.8% |
| JLL Jones Lang Lasalle Inc. | 0.76% | 4,170 | $1.4M | No change |
| SU Suncor Energy Inc. | 0.75% | 31,200 | $1.4M | Add +52.2% |
| ALL Allstate Corp. | 0.75% | 6,592 | $1.4M | Add +120.8% |
| AMAT Applied Materials Inc. | 0.72% | 5,146 | $1.3M | Reduce -28.6% |
| GD General Dynamics Corp. | 0.70% | 3,850 | $1.3M | Add +14.6% |
| INCY Incyte Corp. | 0.70% | 13,070 | $1.3M | Add +15.8% |
| MLI Mueller Industries Inc. | 0.70% | 11,230 | $1.3M | No change |
| HCA HCA Healthcare Inc. | 0.68% | 2,696 | $1.3M | Add +383.1% |
| AMGN Amgen Inc. | 0.68% | 3,804 | $1.2M | Add +39.6% |
| KLAC KLA Corp. | 0.66% | 1,004 | $1.2M | Reduce -16.9% |
| EXPE Expedia Group Inc. | 0.64% | 4,174 | $1.2M | No change |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.63% | 15,088 | $1.2M | No change |
| EME Emcor Group Inc. | 0.63% | 1,904 | $1.2M | Reduce -18.9% |
| FIX Comfort Systems USA Inc. | 0.63% | 1,246 | $1.2M | No change |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.61% | 5,594 | $1.1M | New |
| PYPL PayPal Holdings Inc. | 0.61% | 19,112 | $1.1M | Add +29.7% |
| BIIB Biogen Inc. | 0.61% | 6,338 | $1.1M | No change |
| CNK Cinemark Holdings Inc. | 0.60% | 47,218 | $1.1M | Add +36.3% |
| BKNG Booking Holdings Inc. | 0.59% | 204 | $1.1M | Add +72.9% |
| ZM Zoom Communications Inc. | 0.59% | 12,638 | $1.1M | No change |
| EIX Edison International | 0.58% | 17,872 | $1.1M | Add +25.7% |
| MO Altria Group Inc. | 0.58% | 18,594 | $1.1M | No change |
| CCK Crown Holdings Inc. | 0.58% | 10,380 | $1.1M | Add +24.0% |
| PEG Public Service Enterprise GP | 0.57% | 13,128 | $1.1M | Add +44.2% |
| EXEL Exelixis Inc. | 0.57% | 23,930 | $1.0M | No change |
| NFG National Fuel Gas Co. | 0.57% | 13,082 | $1.0M | Add +124.9% |
| EOG EOG Resources Inc. | 0.57% | 9,958 | $1.0M | Add +49.6% |
| LVS Las Vegas Sands Corp. | 0.57% | 15,980 | $1.0M | Add +23.1% |
| ULTA Ulta Beauty Inc. | 0.56% | 1,710 | $1.0M | No change |
| LMT Lockheed Martin Corp. | 0.56% | 2,132 | $1.0M | New |
| FDX FedEx Corp. | 0.54% | 3,440 | $994K | No change |
| AIG American International Group | 0.54% | 11,586 | $991K | Reduce -8.2% |
| RF Regions Financial Corp. | 0.54% | 36,490 | $989K | Add +51.8% |
| JBL Jabil Inc. | 0.54% | 4,324 | $986K | Add +17.6% |
| CALM Cal-Maine Foods Inc. | 0.53% | 12,242 | $974K | No change |
| R Ryder System Inc. | 0.53% | 5,072 | $971K | No change |
| ACI Albertsons Cos Inc. Class A | 0.52% | 56,120 | $964K | No change |
| EXPD Expeditors Intl Wash Inc. | 0.52% | 6,410 | $955K | No change |
| ORI Old Republic Intl Corp. | 0.52% | 20,786 | $949K | No change |
| SAM Boston Beer Company Inc. Class A | 0.51% | 4,810 | $939K | Add +50.3% |
| UHS Universal Health Services-B | 0.51% | 4,294 | $936K | No change |
| REGN Regeneron Pharmaceuticals | 0.50% | 1,192 | $920K | Add +63.7% |
| KR Kroger Co. | 0.50% | 14,666 | $916K | No change |
| APA Apa Corp. | 0.50% | 37,362 | $914K | Add +12.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.50% | 5,934 | $912K | No change |
| PTC PTC Inc. | 0.49% | 5,220 | $909K | Add +101.9% |
| UTHR United Therapeutics Corp. | 0.49% | 1,838 | $896K | Reduce -29.3% |
| FE Firstenergy Corp. | 0.49% | 19,990 | $895K | Add +66.1% |
| ENS Enersys | 0.49% | 6,086 | $893K | No change |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.48% | 7,610 | $883K | No change |
| NOC Northrop Grumman Corp. | 0.48% | 1,542 | $879K | Add +76.8% |
| AEM Agnico Eagle Mines Ltd. | 0.48% | 5,186 | $879K | No change |
| FCX Freeport-McMoran Inc. | 0.48% | 17,242 | $876K | Add +236.6% |
| META Meta Platforms Inc. Class A | 0.47% | 1,320 | $871K | Add +34.7% |
| GM General Motors Co. | 0.46% | 10,504 | $854K | Reduce -23.7% |
| YELP Yelp Inc. | 0.46% | 28,036 | $852K | Add +18.3% |
| CINF Cincinnati Financial Corp. | 0.46% | 5,150 | $841K | Add +199.1% |
| MEDP Medpace Holdings Inc. | 0.45% | 1,482 | $832K | Reduce -29.0% |
| NTRA Natera Inc. | 0.45% | 3,632 | $832K | No change |
| UBER Uber Technologies Inc. | 0.45% | 10,162 | $830K | Add +25.5% |
| PATH Uipath Inc. Class A | 0.45% | 50,482 | $827K | Add +57.9% |
| BMRN Biomarin Pharmaceutical Inc. | 0.45% | 13,824 | $822K | Add +24.9% |
| FHN First Horizon Corp. | 0.45% | 34,292 | $820K | Add +148.5% |
| ELV Elevance Health Inc. | 0.44% | 2,332 | $817K | No change |
| GOOGL Alphabet Inc. Class A | 0.44% | 2,578 | $807K | Reduce -36.9% |
| ABNB Airbnb Inc. Class A | 0.42% | 5,752 | $781K | Add +42.3% |
| CTSH Cognizant Tech Solutions-A | 0.42% | 9,218 | $765K | Add +132.9% |
| CSCO Cisco Systems Inc. | 0.41% | 9,896 | $762K | Reduce -29.2% |
| ANF Abercrombie & Fitch Co. Class A | 0.41% | 6,046 | $761K | Add +79.0% |
| OVV Ovintiv Inc. | 0.41% | 19,236 | $754K | No change |
| ED Consolidated Edison Inc. | 0.41% | 7,584 | $753K | Add +129.5% |
| DY Dycom Industries Inc. | 0.41% | 2,216 | $749K | Add +38.7% |
| ADSK Autodesk Inc. | 0.40% | 2,470 | $731K | Add +45.3% |
| RJF Raymond James Financial Inc. | 0.39% | 4,514 | $725K | Add +86.8% |
| CNX CNX Resources Corp. | 0.39% | 19,446 | $715K | Add +86.3% |
| TPR Tapestry Inc. | 0.39% | 5,572 | $712K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.39% | 6,252 | $711K | Reduce -28.8% |
| CI The Cigna Group | 0.38% | 2,546 | $701K | No change |
| DVN Devon Energy Corp. | 0.38% | 19,084 | $699K | Add +34.0% |
| OZK Bank Ozk | 0.38% | 15,170 | $698K | No change |
| PPC Pilgrim's Pride Corp. | 0.38% | 17,760 | $692K | Add +33.2% |
| AMP Ameriprise Financial Inc. | 0.37% | 1,388 | $681K | Add +142.7% |
| LHX L3HARRIS Technologies Inc. | 0.37% | 2,314 | $679K | Reduce -21.5% |
| SCCO Southern Copper Corp. | 0.37% | 4,724 | $678K | Add +0.8% |
| DBX Dropbox Inc. Class A | 0.37% | 24,358 | $677K | Add +77.9% |
Portfolio Sells Q3 2025 → Q4 2025
| TD Toronto-Dominion Bank | Sold out | 0.00% | −1.66 |
| EA Electronic Arts Inc. | Reduce -60.8% | 0.24% | −0.47 |
| MTN Vail Resorts Inc. | Sold out | 0.00% | −0.43 |
| AMZN Amazon.com Inc. | Sold out | 0.00% | −0.40 |
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −0.39 |
| VZ Verizon Communications Inc. | Sold out | 0.00% | −0.38 |
| CLX Clorox Company | Reduce -45.8% | 0.23% | −0.37 |
| EME Emcor Group Inc. | Reduce -18.9% | 0.63% | −0.34 |
| JNJ Johnson & Johnson | Reduce -48.0% | 0.31% | −0.32 |
| HOLX Hologic Inc. | Sold out | 0.00% | −0.29 |
| DIS The Walt Disney Co. | Reduce -28.8% | 0.39% | −0.26 |
| EMA Emera Inc. | Sold out | 0.00% | −0.25 |
| MS Morgan Stanley | Sold out | 0.00% | −0.25 |
| CNQ Canadian Natural Resources | Reduce -38.1% | 0.31% | −0.24 |
| AEP American Electric Power | Sold out | 0.00% | −0.23 |
| MEDP Medpace Holdings Inc. | Reduce -29.0% | 0.45% | −0.23 |
| CMI Cummins Inc. | Reduce -40.2% | 0.36% | −0.23 |
| NEM Newmont Corp. | Reduce -16.3% | 1.22% | −0.22 |
| AMAT Applied Materials Inc. | Reduce -28.6% | 0.72% | −0.22 |
| AAPL Apple Inc. | Reduce -13.2% | 0.79% | −0.21 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.21 |
| RGLD Royal Gold Inc. | Sold out | 0.00% | −0.21 |
| UTHR United Therapeutics Corp. | Reduce -29.3% | 0.49% | −0.21 |
| LHX L3HARRIS Technologies Inc. | Reduce -21.5% | 0.37% | −0.20 |
| PHM Pultegroup Inc. | Reduce -19.1% | 0.32% | −0.20 |
| CSCO Cisco Systems Inc. | Reduce -29.2% | 0.41% | −0.20 |
| GOOGL Alphabet Inc. Class A | Reduce -36.9% | 0.44% | −0.20 |
| TSN Tyson Foods Inc. Class A | Sold out | 0.00% | −0.19 |
| NEU Newmarket Corp. | Reduce -18.3% | 0.23% | −0.17 |
| NJR New Jersey Resources Corp. | Reduce -28.1% | 0.24% | −0.17 |
| KLAC KLA Corp. | Reduce -16.9% | 0.66% | −0.17 |
| ZTS Zoetis Inc. | Reduce -30.4% | 0.17% | −0.16 |
| MU Micron Technology Inc. | Reduce -54.1% | 0.32% | −0.16 |
| CNC Centene Corp. | Sold out | 0.00% | −0.15 |
| PFE Pfizer Inc. | Reduce -19.8% | 0.30% | −0.15 |
| BLDR Builders Firstsource Inc. | Sold out | 0.00% | −0.15 |
| TMUS T-Mobile US Inc. | Sold out | 0.00% | −0.14 |
| DHI D.R. Horton Inc. | Sold out | 0.00% | −0.14 |
| ZBH Zimmer Biomet Holdings Inc. | Sold out | 0.00% | −0.14 |
| TSCO Tractor Supply Company | Sold out | 0.00% | −0.14 |
| GNRC Generac Holdings Inc. | Reduce -25.2% | 0.15% | −0.14 |
| WMG Warner Music Group Corp. Class A | Sold out | 0.00% | −0.14 |
| ACLS Axcelis Technologies Inc. | Sold out | 0.00% | −0.14 |
| ETSY Etsy Inc. | Sold out | 0.00% | −0.13 |
| VNT Vontier Corp. | Sold out | 0.00% | −0.13 |
| CTVA Corteva Inc. | Reduce -28.4% | 0.20% | −0.13 |
| RARE Ultragenyx Pharmaceutical Inc. | Sold out | 0.00% | −0.13 |
| TPL Texas Pacific Land Corp. | Sold out | 0.00% | −0.13 |
| AWI Armstrong World Industries | Sold out | 0.00% | −0.13 |
| FBP First Bancorp Puerto Rico | Sold out | 0.00% | −0.13 |
Portfolio Buys Q3 2025 → Q4 2025
| MTB M & T Bank Corp. | New | 0.61% | +0.61 |
| LMT Lockheed Martin Corp. | New | 0.56% | +0.56 |
| HCA HCA Healthcare Inc. | Add +383.1% | 0.68% | +0.53 |
| CMCSA Comcast Corp. Class A | Add +127.1% | 0.96% | +0.44 |
| GILD Gilead Sciences Inc. | Add +135.4% | 0.79% | +0.43 |
| FCX Freeport-McMoran Inc. | Add +236.6% | 0.48% | +0.35 |
| GPOR Gulfport Energy Corp. | New | 0.34% | +0.34 |
| ROST Ross Stores Inc. | New | 0.34% | +0.34 |
| ALL Allstate Corp. | Add +120.8% | 0.75% | +0.34 |
| RTX RTX Corp. | New | 0.33% | +0.33 |
| DTE DTE Energy Company | New | 0.31% | +0.31 |
| EXC Exelon Corp. | New | 0.30% | +0.30 |
| TXT Textron Inc. | New | 0.29% | +0.29 |
| MRK Merck & Co. Inc. | Add +37.5% | 0.91% | +0.29 |
| MCO Moody's Corp. | New | 0.28% | +0.28 |
| FCNCA First Citizens Bcshs Class A | New | 0.28% | +0.28 |
| CINF Cincinnati Financial Corp. | Add +199.1% | 0.46% | +0.28 |
| CAT Caterpillar Inc. | New | 0.27% | +0.27 |
| NVR NVR Inc. | New | 0.25% | +0.25 |
| MKTX Marketaxess Holdings Inc. | New | 0.25% | +0.25 |
| CTSH Cognizant Tech Solutions-A | Add +132.9% | 0.42% | +0.25 |
| FHN First Horizon Corp. | Add +148.5% | 0.45% | +0.25 |
| HIG Hartford Insurance Group Inc. | New | 0.24% | +0.24 |
| REGN Regeneron Pharmaceuticals | Add +63.7% | 0.50% | +0.24 |
| GLXY Galaxy Digital Inc. Class A | New | 0.24% | +0.24 |
| HUM Humana Inc. | New | 0.23% | +0.23 |
| STZ Constellation Brands Inc. Class A | Add +210.3% | 0.36% | +0.23 |
| ANF Abercrombie & Fitch Co. Class A | Add +79.0% | 0.41% | +0.23 |
| NFG National Fuel Gas Co. | Add +124.9% | 0.57% | +0.23 |
| L Loews Corp. | New | 0.22% | +0.22 |
| ILMN Illumina Inc. | New | 0.21% | +0.21 |
| GE General Electric | New | 0.21% | +0.21 |
| OGE Oge Energy Corp. | New | 0.21% | +0.21 |
| SU Suncor Energy Inc. | Add +52.2% | 0.75% | +0.21 |
| OC Owens Corning | New | 0.21% | +0.21 |
| SO The Southern Co. | New | 0.20% | +0.20 |
| GWW WW Grainger Inc. | New | 0.20% | +0.20 |
| ZION Zions Bancorp NA | New | 0.20% | +0.20 |
| ED Consolidated Edison Inc. | Add +129.5% | 0.41% | +0.20 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.20% | +0.20 |
| DG Dollar General Corp. | New | 0.19% | +0.19 |
| AMP Ameriprise Financial Inc. | Add +142.7% | 0.37% | +0.19 |
| CSL Carlisle Cos Inc. | New | 0.19% | +0.19 |
| BKNG Booking Holdings Inc. | Add +72.9% | 0.59% | +0.19 |
| AMGN Amgen Inc. | Add +39.6% | 0.68% | +0.19 |
| NTR Nutrien Ltd. | New | 0.18% | +0.18 |
| TFX Teleflex Inc. | New | 0.18% | +0.18 |
| JKHY Jack Henry & Associates Inc. | New | 0.18% | +0.18 |
| PATH Uipath Inc. Class A | Add +57.9% | 0.45% | +0.18 |
| QRVO Qorvo Inc. | New | 0.18% | +0.18 |
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 |