Erste Asset Management GmbH

The portfolio remains highly diversified, holding 932 distinct securities. However, the management style appears to be actively shifting from passive holding to strategic reallocation. The top 10 holdings account for approximately 24.6% of the total portfolio value, indicating a core-satellite approach where a concentrated list of mega-cap technology and blue-chip companies anchors the portfolio, while the vast majority of assets are spread across a long tail of smaller positions. The high number of holdings (932) suggests the firm manages a variety of fund strategies or employs a quant-screening approach for smaller allocations.

2. Key Holdings