# denkapparat Operations GmbH

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1999514. Source: https://holderbook.com/funds/1999514-denkapparat-operations-gmbh/

- Reported value: $305.9M
- Positions: 383
- Weight of the ten largest: 8.3%
- Filed: 2026-08-06

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $4.0M | 2,012 | 1.3% | 3 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $2.8M | 3,932 | 0.9% | 7 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $2.8M | 6,550 | 0.9% | 7 |
| ALLSTATE CORP | [ALL](https://holderbook.com/stocks/ALL/) | $2.5M | 10,556 | 0.8% | 7 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $2.4M | 12,134 | 0.8% | 7 |
| EDISON INTL | [EIX](https://holderbook.com/stocks/EIX/) | $2.2M | 29,604 | 0.7% | 7 |
| COMFORT SYS USA INC | [FIX](https://holderbook.com/stocks/FIX/) | $2.2M | 1,112 | 0.7% | 5 |
| KROGER CO | [KR](https://holderbook.com/stocks/KR/) | $2.2M | 38,766 | 0.7% | 5 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $2.1M | 85,844 | 0.7% | 7 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $2.1M | 5,916 | 0.7% | 6 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $2.0M | 35,462 | 0.7% | 7 |
| EMCOR GROUP INC | [EME](https://holderbook.com/stocks/EME/) | $2.0M | 2,456 | 0.7% | 7 |
| INCYTE CORP | [INCY](https://holderbook.com/stocks/INCY/) | $2.0M | 17,890 | 0.7% | 7 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $2.0M | 21,636 | 0.7% | 6 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $2.0M | 46,558 | 0.7% | 7 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $2.0M | 1,728 | 0.7% | 4 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $2.0M | 9,704 | 0.7% | 7 |
| AUTOLIV INC | [ALV](https://holderbook.com/stocks/ALV/) | $1.9M | 16,368 | 0.6% | 2 |
| GSK PLC | [GSK](https://holderbook.com/stocks/GSK/) | $1.9M | 35,370 | 0.6% | 3 |
| BOYD GAMING CORP | [BYD](https://holderbook.com/stocks/BYD/) | $1.9M | 20,946 | 0.6% | 7 |
| JONES LANG LASALLE INC | [JLL](https://holderbook.com/stocks/JLL/) | $1.8M | 5,944 | 0.6% | 7 |
| FIRSTENERGY CORP | [FE](https://holderbook.com/stocks/FE/) | $1.8M | 38,572 | 0.6% | 6 |
| CF INDUSTRIES HOLD | [CF](https://holderbook.com/stocks/CF/) | $1.8M | 16,826 | 0.6% | 7 |
| EXELIXIS INC | [EXEL](https://holderbook.com/stocks/EXEL/) | $1.8M | 33,152 | 0.6% | 7 |
| INTERDIGITAL INC | [IDCC](https://holderbook.com/stocks/IDCC/) | $1.8M | 6,332 | 0.6% | 7 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $1.8M | 14,028 | 0.6% | 7 |
| CINEMARK HLDGS INC | [CNK](https://holderbook.com/stocks/CNK/) | $1.8M | 55,642 | 0.6% | 7 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $1.7M | 4,630 | 0.6% | 5 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $1.7M | 11,272 | 0.6% | 7 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $1.7M | 23,930 | 0.6% | 7 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $1.7M | 5,012 | 0.6% | 2 |
| F5 INC | [FFIV](https://holderbook.com/stocks/FFIV/) | $1.7M | 4,084 | 0.6% | 7 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $1.7M | 4,574 | 0.5% | 6 |
| L3HARRIS TECHNOLOGIES INC | [LHX](https://holderbook.com/stocks/LHX/) | $1.6M | 5,636 | 0.5% | 6 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $1.6M | 5,800 | 0.5% | 2 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $1.6M | 29,400 | 0.5% | 6 |
| TORO CO | [TTC](https://holderbook.com/stocks/TTC/) | $1.6M | 16,192 | 0.5% | 4 |
| WW GRAINGER INC | [GWW](https://holderbook.com/stocks/GWW/) | $1.6M | 1,150 | 0.5% | 3 |
| RYDER SYS INC | [R](https://holderbook.com/stocks/R/) | $1.5M | 5,846 | 0.5% | 7 |
| LOGITECH INTL S A | [LOGI](https://holderbook.com/stocks/LOGI/) | $1.5M | 16,366 | 0.5% | 2 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $1.5M | 11,688 | 0.5% | 7 |
| FOX CORP | [FOXA](https://holderbook.com/stocks/FOXA/) | $1.5M | 28,868 | 0.5% | 7 |
| TOTALENERGIES SE | [TTE](https://holderbook.com/stocks/TTE/) | $1.5M | 19,268 | 0.5% | 2 |
| SNAP ON INC | [SNA](https://holderbook.com/stocks/SNA/) | $1.5M | 3,674 | 0.5% | 7 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $1.5M | 19,038 | 0.5% | 2 |
| SANOFI SA | [SNY](https://holderbook.com/stocks/SNY/) | $1.5M | 34,572 | 0.5% | 2 |
| PUBLIC SVC ENTERPRISE GROUP | [PEG](https://holderbook.com/stocks/PEG/) | $1.5M | 17,924 | 0.5% | 4 |
| ROSS STORES INC | [ROST](https://holderbook.com/stocks/ROST/) | $1.4M | 6,782 | 0.5% | 3 |
| DOLLAR GEN CORP | [DG](https://holderbook.com/stocks/DG/) | $1.4M | 12,506 | 0.5% | 3 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.4M | 4,934 | 0.5% | 7 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $1.4M | 2,876 | 0.5% | 4 |
| ENERSYS | [ENS](https://holderbook.com/stocks/ENS/) | $1.4M | 6,086 | 0.5% | 6 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $1.4M | 7,626 | 0.5% | 7 |
| INSULET CORP | [PODD](https://holderbook.com/stocks/PODD/) | $1.4M | 9,104 | 0.5% | 6 |
| KINROSS GOLD CORP | [KGC](https://holderbook.com/stocks/KGC/) | $1.4M | 58,560 | 0.5% | 7 |
| MUELLER INDS INC | [MLI](https://holderbook.com/stocks/MLI/) | $1.4M | 11,230 | 0.5% | 6 |
| BIOGEN INC | [BIIB](https://holderbook.com/stocks/BIIB/) | $1.4M | 6,338 | 0.4% | 7 |
| DOLLAR TREE INC | [DLTR](https://holderbook.com/stocks/DLTR/) | $1.4M | 11,172 | 0.4% | 1 |
| BP PLC | [BP](https://holderbook.com/stocks/BP/) | $1.4M | 36,552 | 0.4% | 1 |
| MILLICOM INTL CELLULAR S A | [TIGO](https://holderbook.com/stocks/TIGO/) | $1.3M | 14,864 | 0.4% | 3 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $1.3M | 9,554 | 0.4% | 1 |
| EXPEDIA GROUP INC | [EXPE](https://holderbook.com/stocks/EXPE/) | $1.3M | 5,154 | 0.4% | 7 |
| FIRST HORIZON CORPORATION | [FHN](https://holderbook.com/stocks/FHN/) | $1.3M | 50,948 | 0.4% | 7 |
| PTC INC | [PTC](https://holderbook.com/stocks/PTC/) | $1.3M | 11,486 | 0.4% | 5 |
| CNX RES CORP | [CNX](https://holderbook.com/stocks/CNX/) | $1.3M | 38,166 | 0.4% | 4 |
| ELECTRONIC ARTS INC | [EA](https://holderbook.com/stocks/EA/) | $1.3M | 6,268 | 0.4% | 7 |
| VALERO ENERGY CORP | [VLO](https://holderbook.com/stocks/VLO/) | $1.3M | 4,914 | 0.4% | 3 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $1.3M | 8,222 | 0.4% | 5 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $1.3M | 4,202 | 0.4% | 7 |
| TRANSDIGM GROUP INC | [TDG](https://holderbook.com/stocks/TDG/) | $1.2M | 920 | 0.4% | 1 |
| APA CORPORATION | [APA](https://holderbook.com/stocks/APA/) | $1.2M | 37,362 | 0.4% | 5 |
| NEUROCRINE BIOSCIENCES INC | [NBIX](https://holderbook.com/stocks/NBIX/) | $1.2M | 7,188 | 0.4% | 7 |
| JABIL INC | [JBL](https://holderbook.com/stocks/JBL/) | $1.2M | 3,138 | 0.4% | 7 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $1.2M | 3,108 | 0.4% | 5 |
| LAS VEGAS SANDS CORP | [LVS](https://holderbook.com/stocks/LVS/) | $1.2M | 26,010 | 0.4% | 5 |
| MARKETAXESS HLDGS INC | [MKTX](https://holderbook.com/stocks/MKTX/) | $1.2M | 10,562 | 0.4% | 3 |
| NATERA INC | [NTRA](https://holderbook.com/stocks/NTRA/) | $1.2M | 4,414 | 0.4% | 5 |
| RANGE RES CORP | [RRC](https://holderbook.com/stocks/RRC/) | $1.2M | 32,156 | 0.4% | 2 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $1.2M | 14,468 | 0.4% | 1 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $1.2M | 9,896 | 0.4% | 5 |
| CROWN HLDGS INC | [CCK](https://holderbook.com/stocks/CCK/) | $1.2M | 10,380 | 0.4% | 5 |
| DOMINOS PIZZA INC | [DPZ](https://holderbook.com/stocks/DPZ/) | $1.1M | 3,876 | 0.4% | 5 |
| TEXTRON INC | [TXT](https://holderbook.com/stocks/TXT/) | $1.1M | 12,380 | 0.4% | 3 |
| SUNBELT RENTALS HOLDINGS INC | [SUNB](https://holderbook.com/stocks/SUNB/) | $1.1M | 15,290 | 0.4% | 2 |
| ULTA BEAUTY INC | [ULTA](https://holderbook.com/stocks/ULTA/) | $1.1M | 2,460 | 0.4% | 7 |
| HF SINCLAIR CORP | [DINO](https://holderbook.com/stocks/DINO/) | $1.1M | 15,868 | 0.4% | 2 |
| BANK OZK LITTLE ROCK ARK | [OZK](https://holderbook.com/stocks/OZK/) | $1.1M | 20,776 | 0.4% | 7 |
| OLD REP INTL CORP | [ORI](https://holderbook.com/stocks/ORI/) | $1.1M | 26,446 | 0.4% | 7 |
| CORTEVA INC | [CTVA](https://holderbook.com/stocks/CTVA/) | $1.1M | 12,698 | 0.4% | 1 |
| M & T BK CORP | [MTB](https://holderbook.com/stocks/MTB/) | $1.1M | 4,508 | 0.4% | 3 |
| CIRRUS LOGIC INC | [CRUS](https://holderbook.com/stocks/CRUS/) | $1.1M | 7,194 | 0.3% | 7 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $1.1M | 2,092 | 0.3% | 4 |
| HENRY JACK & ASSOC INC | [JKHY](https://holderbook.com/stocks/JKHY/) | $1.1M | 7,628 | 0.3% | 3 |
| EXPEDITORS INTL WASH INC | [EXPD](https://holderbook.com/stocks/EXPD/) | $1.0M | 6,410 | 0.3% | 6 |
| LANTHEUS HLDGS INC | [LNTH](https://holderbook.com/stocks/LNTH/) | $1.0M | 9,416 | 0.3% | 1 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $1.0M | 2,050 | 0.3% | 3 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $1.0M | 6,746 | 0.3% | 2 |
| EBAY INC. | [EBAY](https://holderbook.com/stocks/EBAY/) | $1.0M | 9,280 | 0.3% | 7 |
| MURPHY USA INC | [MUSA](https://holderbook.com/stocks/MUSA/) | $1.0M | 1,918 | 0.3% | 2 |
| MORNINGSTAR INC | [MORN](https://holderbook.com/stocks/MORN/) | $1.0M | 6,596 | 0.3% | 6 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +9.0% | +14.8% | -5.8% | 100% |
| Q1 2026 | +1.9% | -4.6% | +6.5% | 100% |
| Q4 2025 | +3.8% | +2.4% | +1.4% | 100% |
| Q3 2025 | +8.0% | +7.8% | +0.1% | 100% |
| Q2 2025 | +5.0% | +10.5% | -5.5% | 100% |
| Q1 2025 | -1.6% | -4.6% | +2.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $305.9M | 383 |
| Q1 2026 | $241.6M | 333 |
| Q4 2025 | $183.9M | 294 |
| Q3 2025 | $156.7M | 274 |
| Q2 2025 | $125.3M | 242 |
| Q1 2025 | $94.5M | 214 |
| Q4 2024 | $67.7M | 164 |