DSM CAPITAL PARTNERS LLC

DSM Capital Partners' $5.66B Q1 2026 13F is still a mega-cap growth portfolio, but the quarter was defined by selective pruning rather than expansion. Nvidia, Microsoft, Alphabet, Broadcom, Amazon, Arista, and Meta remain the spine of the book, together accounting for well over 60% of assets. Yet DSM cut major positions in Microsoft, Intuit, Amazon, Nvidia, Alphabet, Broadcom, Uber, GE Aerospace, and DexCom, while introducing new stakes in Pure Storage, Entegris, Teradyne, Fair Isaac, and Tower Semiconductor. The pattern is not risk-off in the abstract; it is a recycling of capital from crowded winners into the next layer of infrastructure and software names. The whaleScore of 73.5 reflects the scale of that concentrated growth core, not broad diversification.