Early Q2 2026 13F Filings: The Memory Trade Spreads Down the Supply Chain
Second-quarter ownership reports aren't due until August 14, but 1,255 institutional managers have already filed — about one in seven of the full universe, reporting $1.36 trillion in U.S. equity positions. Early filers skew smaller and faster than the giants that file at the deadline, and the picture can shift. It's still the first real look at how professional money moved between April and June.
The most-added stock is a memory maker
Among managers that filed in both quarters, SanDisk (SNDK) picked up 16 net new holders — from 103 to 119, a 15.5% jump — with reported position value up $1.6 billion. That makes it the most-added stock of the early season, and it comes with a backstory: SanDisk is the best-performing stock in the S&P 500 this year, up 781% in the first half — roughly double the second-best performer, Micron Technology (MU).
The driver is NAND flash pricing. Spot prices for high-density NAND wafers rose 25% in February alone, and AI data centers have tightened the supply of enterprise solid-state drives. A company that was spun off from Western Digital (WDC) only last year now trades near the top of the index leaderboard — and the managers filing early appear to be following the move rather than fading it.
The buying runs down the memory supply chain
SanDisk isn't alone. Four smaller names from the same corner of the market — storage controllers, fab equipment, chip packaging — sit near the top of the most-added list, measured by growth in holder count among the same-filer cohort:
- MaxLinear (MXL) — +70%
- Ultra Clean Holdings (UCTT) — +55%
- Silicon Motion (SIMO) — +27%
- Kulicke & Soffa (KLIC) — +14%
Half of the ten most-added names are memory, storage, or the equipment that builds them. Individual small-cap adds can be noisy in an early sample; five of them pointing the same direction is harder to dismiss.
The additions beyond the theme
The rest of the most-added list is a mix:
- Revolution Medicines (RVMD) — +25%
- Nuveen Municipal High Income (NMZ) — +33%
- Krystal Biotech (KRYS) — +23%
- Redwire (RDW) — +19%
- DigitalOcean (DOCN) — +16%
- Figma (FIG) — +13%
Revolution Medicines has momentum behind it — the company dosed its first Phase 3 patients in a RAS-targeted pancreatic cancer trial in late June, with combination data headed to a major oncology congress. And a municipal bond fund appearing on an equity most-added list is its own small signal: some early filers were reaching for tax-exempt yield, not just chasing chips.
The full universe reports by mid-August. As with last quarter's early look, we'll revisit which of these signals held once everyone has filed.
Explore Ownership ChangesNotes
Data is from Q2 2026 13F filings (June 30 report date) received through July 16, 2026 — 1,255 filers of an expected ~8,800. Holder-count changes are computed only among managers that filed in both Q1 and Q2, so partial coverage doesn't inflate the numbers; net additions are a floor, not a final count. Percentages are change in holder count within that cohort. This is the third installment of the early-filer series, following the Q1 first look and its mid-season update. Quarterly ownership changes for any security are at Trends.
