Artemis Investment Management LLP

Artemis Investment Management LLP declares $3.3B in 41 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 29.2% of its $11.2B 13F portfolio. Largest positions: Cisco (0.08% of the company) and Lam Research (0.05% of the company). Over time: $3.3B in 41 of these companies for Q2 2026, against $1.7B in 36 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $1.1B and sold $925.1M of these stocks, at the quarter's prices: a net purchase of $126.6M; 13 new positions and 4 sold out.

Performance of its AI picks

The AI-stock portfolio Artemis Investment Management LLP declared for Q2 2026 (Form 13F), held unchanged, returned -2.7% in Q3 2026 (SMH -7.1%), ranked 1446 of 1,783 active managers. Over the last 12 months, quarter after quarter: +61.9% (SMH +87.2%), ranked 105 of 1,359 active managers. Over three years, quarter after quarter: +291.3% (SMH +325.8%), ranked 33 of 783 active managers. Over five years, quarter after quarter: +316.2% (SMH +389.8%), ranked 23 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. Cisco (CSCO) — $387.4M: 3.3M shares, 0.08% of the company, 3.4% of its portfolio (added this quarter); held since Q1 2025
2. Lam Research (LRCX) — $279.4M: 644,861 shares, 0.05% of the company, 2.5% of its portfolio (added this quarter); held since Q1 2023
3. NVIDIA (NVDA) — $261.4M: 1.3M shares, 0.01% of the company, 2.3% of its portfolio (trimmed this quarter); held since Q1 2023
4. Alphabet (GOOGL) — $245.6M: 687,162 shares, 0.01% of the company, 2.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Accenture (ACN) — $163.2M: 1.3M shares, 0.22% of the company, 1.5% of its portfolio (new position this quarter)
6. Amazon (AMZN) — $155.5M: 652,527 shares, 0.01% of the company, 1.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
7. nVent (NVT) — $113.6M: 670,017 shares, 0.41% of the company, 1.0% of its portfolio (trimmed this quarter); held since Q2 2023
8. Seagate (STX) — $108.5M: 112,419 shares, 0.05% of the company, 0.97% of its portfolio (trimmed this quarter); held since Q2 2025
9. MongoDB (MDB) — $107.0M: 318,517 shares, 0.40% of the company, 0.95% of its portfolio (new position this quarter)
10. Applied Materials (AMAT) — $106.0M: 146,571 shares, 0.02% of the company, 0.94% of its portfolio (trimmed this quarter); held since Q4 2025
11. AMD (AMD) — $104.6M: 180,142 shares, 0.01% of the company, 0.93% of its portfolio (trimmed this quarter); held since Q1 2022
12. Coherent (COHR) — $96.1M: 243,535 shares, 0.12% of the company, 0.86% of its portfolio (trimmed this quarter); held since Q4 2023
13. Dell (DELL) — $79.7M: 184,612 shares, 0.03% of the company, 0.71% of its portfolio (added this quarter); held since Q1 2026
14. Micron (MU) — $76.3M: 66,073 shares, 0.01% of the company, 0.68% of its portfolio (trimmed this quarter); held since Q4 2023
15. Bloom Energy (BE) — $72.7M: 240,059 shares, 0.08% of the company, 0.65% of its portfolio (trimmed this quarter); held since Q2 2024

By sector

• Chips & compute — $598.2M, 18% of its AI holdings, 10 companies
• Equipment & test — $563.1M, 17% of its AI holdings, 5 companies
• Cloud & AI giants — $505.6M, 15% of its AI holdings, 5 companies
• Interconnect — $392.5M, 12% of its AI holdings, 2 companies
• AI software — $365.8M, 11% of its AI holdings, 5 companies
• Power, electrical & cooling — $276.8M, 8% of its AI holdings, 4 companies
• Memory & storage — $229.0M, 7% of its AI holdings, 4 companies
• Optics — $166.7M, 5% of its AI holdings, 2 companies
• Servers & systems — $140.5M, 4% of its AI holdings, 2 companies
• Neoclouds & data centers — $43.2M, 1% of its AI holdings, 2 companies

Biggest changes this quarter

• opened a position in Accenture (ACN): +$163.2M at the quarter's price
• sold out of Primoris Services (PRIM): -$125.8M at the quarter's price
• opened a position in MongoDB (MDB): +$107.0M at the quarter's price
• trimmed Coherent (COHR): -$104.2M at the quarter's price
• added to Amazon (AMZN): +$76.5M at the quarter's price
• trimmed Broadcom (AVGO): -$74.0M at the quarter's price
• added to Lam Research (LRCX): +$73.9M at the quarter's price
• opened a position in Corning (GLW): +$70.6M at the quarter's price
• opened a position in Onto Innovation (ONTO): +$70.2M at the quarter's price
• trimmed Seagate (STX): -$67.9M at the quarter's price

Other holders of this size

• MONTRUSCO BOLTON INVESTMENTS INC. — $3.3B in 13 of these companies
• ExodusPoint Capital Management, LP — $3.3B in 111 of these companies
• Saudi Central Bank — $3.3B in 96 of these companies
• Union Bancaire Privee, UBP SA — $3.3B in 79 of these companies
• SHELTON CAPITAL MANAGEMENT — $3.3B in 126 of these companies
• KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC — $3.3B in 110 of these companies
• Voyager Global Management LP — $3.3B in 6 of these companies
• Robeco Schweiz AG — $3.3B in 40 of these companies

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