ADAGE CAPITAL PARTNERS GP, L.L.C.

ADAGE CAPITAL PARTNERS GP, L.L.C. declares $31.6B in 102 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 44.3% of its $71.3B 13F portfolio. Largest positions: NVIDIA (0.09% of the company) and Apple (0.09% of the company). Over time: $31.6B in 102 of these companies for Q2 2026, against $9.8B in 80 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $1.2B and sold $1.3B of these stocks, at the quarter's prices: a net sale of $75.8M; 7 new positions and 7 sold out.

Performance of its AI picks

The AI-stock portfolio ADAGE CAPITAL PARTNERS GP, L.L.C. declared for Q2 2026 (Form 13F), held unchanged, returned +4.5% in Q3 2026 (SMH -7.1%), ranked 721 of 1,785 active managers. Over the last 12 months, quarter after quarter: +29.4% (SMH +87.2%), ranked 625 of 1,360 active managers. Over three years, quarter after quarter: +155.9% (SMH +325.8%), ranked 280 of 784 active managers. Over five years, quarter after quarter: +173.3% (SMH +389.8%), ranked 169 of 535 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

1. NVIDIA (NVDA): $4.4B, 21.9M shares, 0.09% of the company, 6.2% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
2. Apple (AAPL): $3.8B, 13.0M shares, 0.09% of the company, 5.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. Alphabet (GOOGL): $3.4B, 9.4M shares, 0.08% of the company, 4.7% of its portfolio (added this quarter); held since Q4 2019 or earlier
4. Microsoft (MSFT): $2.5B, 6.6M shares, 0.09% of the company, 3.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Amazon (AMZN): $2.1B, 8.8M shares, 0.08% of the company, 2.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. Broadcom (AVGO): $1.6B, 4.2M shares, 0.09% of the company, 2.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
7. Micron (MU): $1.2B, 1.0M shares, 0.09% of the company, 1.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
8. Meta Platforms (META): $1.2B, 2.1M shares, 0.08% of the company, 1.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
9. AMD (AMD): $838.9M, 1.4M shares, 0.09% of the company, 1.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
10. Intel (INTC): $567.4M, 4.1M shares, 0.08% of the company, 0.80% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
11. Lam Research (LRCX): $513.8M, 1.2M shares, 0.09% of the company, 0.72% of its portfolio (added this quarter); held since Q4 2019 or earlier
12. Applied Materials (AMAT): $410.5M, 567,726 shares, 0.07% of the company, 0.58% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
13. Cisco (CSCO): $406.7M, 3.5M shares, 0.09% of the company, 0.57% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
14. Caterpillar (CAT): $391.6M, 367,704 shares, 0.08% of the company, 0.55% of its portfolio (trimmed this quarter); held since Q4 2024
15. KLA (KLAC): $276.0M, 914,840 shares, 0.07% of the company, 0.39% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier

By sector

• Cloud & AI giants: $12.8B, 41% of its AI holdings, 6 companies
• Chips & compute: $8.6B, 27% of its AI holdings, 17 companies
• Power, electrical & cooling: $2.5B, 8% of its AI holdings, 23 companies
• Memory & storage: $1.9B, 6% of its AI holdings, 5 companies
• AI software: $1.8B, 6% of its AI holdings, 16 companies
• Equipment & test: $1.5B, 5% of its AI holdings, 10 companies
• Interconnect: $1.0B, 3% of its AI holdings, 6 companies
• Servers & systems: $540.7M, 2% of its AI holdings, 7 companies
• Neoclouds & data centers: $448.8M, 1% of its AI holdings, 8 companies
• Optics: $386.5M, 1% of its AI holdings, 4 companies

Biggest changes this quarter

• opened a position in Marvell (MRVL): +$222.2M at the quarter's price
• trimmed Astera Labs (ALAB): -$176.3M at the quarter's price
• sold out of Southern Company (SO): -$114.6M at the quarter's price
• opened a position in Dominion Energy (D): +$108.2M at the quarter's price
• trimmed Amazon (AMZN): -$95.6M at the quarter's price
• trimmed Micron (MU): -$82.5M at the quarter's price
• trimmed Applied Materials (AMAT): -$71.1M at the quarter's price
• added to AMD (AMD): +$68.9M at the quarter's price
• trimmed Amphenol (APH): -$63.8M at the quarter's price
• added to Lumentum (LITE): +$53.7M at the quarter's price

Other holders of this size

• Millennium: $31.5B in 217 of these companies
• BESSEMER GROUP INC: $32.2B in 184 of these companies
• Universal- Beteiligungs- und Servicegesellschaft mbH: $31.5B in 185 of these companies
• CIBC Bancorp USA Inc.: $32.4B in 164 of these companies
• PRUDENTIAL FINANCIAL INC: $31.2B in 190 of these companies
• AVIVA PLC: $32.5B in 125 of these companies
• Rafferty Asset Management, LLC: $30.9B in 124 of these companies
• STIFEL FINANCIAL CORP: $32.9B in 201 of these companies

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