Elequin Capital, LP

Elequin Capital, LP declares $309.3M in 78 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 9.2% of its $3.4B 13F portfolio. Largest positions: NVIDIA (0.00% of the company) and Microsoft (0.00% of the company). Over time: $309.3M in 78 of these companies for Q2 2026, against $14,000.00 in 5 for Q4 2021 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $222.3M and sold $7.8M of these stocks, at the quarter's prices: a net purchase of $214.5M; 29 new positions and 42 sold out.

Performance of its AI picks

The AI-stock portfolio Elequin Capital, LP declared for Q2 2026 (Form 13F), held unchanged, returned +9.0% in Q3 2026 (SMH -7.1%), ranked 178 of 1,783 active managers. Over the last 12 months, quarter after quarter: +16.0% (SMH +87.2%). Over three years, quarter after quarter: +133.4% (SMH +325.8%). 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) — $80.0M: 400,000 shares, 0.00% of the company, 2.4% of its portfolio (trimmed this quarter); held since Q4 2024
2. Microsoft (MSFT) — $56.0M: 150,000 shares, 0.00% of the company, 1.7% of its portfolio (added this quarter); held since Q3 2025
3. Apple (AAPL) — $40.5M: 140,003 shares, 0.00% of the company, 1.2% of its portfolio (added this quarter); held since Q4 2024
4. Alphabet (GOOGL) — $29.9M: 84,122 shares, 0.00% of the company, 0.89% of its portfolio (added this quarter); held since Q1 2026
5. Intel (INTC) — $27.9M: 200,051 shares, 0.00% of the company, 0.83% of its portfolio (added this quarter); held since Q1 2026
6. Amazon (AMZN) — $23.8M: 100,000 shares, 0.00% of the company, 0.71% of its portfolio (added this quarter); held since Q3 2025
7. POET Technologies (POET) — $16.9M: 1.6M shares, 1.2% of the company, 0.50% of its portfolio (new position this quarter)
8. Marvell (MRVL) — $7.0M: 23,554 shares, 0.00% of the company, 0.21% of its portfolio (added this quarter); held since Q1 2026
9. AXT (AXTI) — $5.8M: 81,004 shares, 0.12% of the company, 0.17% of its portfolio (new position this quarter)
10. IREN (IREN) — $4.0M: 88,185 shares, 0.02% of the company, 0.12% of its portfolio (added this quarter); held since Q4 2025
11. Applied Optoelectronics (AAOI) — $3.9M: 26,316 shares, 0.03% of the company, 0.12% of its portfolio (added this quarter); held since Q1 2026
12. Super Micro Computer (SMCI) — $2.6M: 87,828 shares, 0.01% of the company, 0.08% of its portfolio (trimmed this quarter); held since Q4 2024
13. Micron (MU) — $2.4M: 2,116 shares, 0.00% of the company, 0.07% of its portfolio (added this quarter); held since Q1 2026
14. Southern Company (SO) — $922,453.00: 9,638 shares, 0.00% of the company, 0.03% of its portfolio (added this quarter); held since Q4 2025
15. SpaceX (SPCX) — $606,040.00: 3,547 shares, 0.00% of the company, 0.02% of its portfolio

By sector

• Cloud & AI giants — $150.8M, 49% of its AI holdings, 5 companies
• Chips & compute — $116.1M, 38% of its AI holdings, 13 companies
• Optics — $26.9M, 9% of its AI holdings, 7 companies
• Memory & storage — $4.3M, 1% of its AI holdings, 6 companies
• Neoclouds & data centers — $4.3M, 1% of its AI holdings, 5 companies
• Servers & systems — $2.6M, 1% of its AI holdings, 1 company
• Power, electrical & cooling — $2.5M, 1% of its AI holdings, 22 companies
• AI software — $700,836.00, 0% of its AI holdings, 5 companies
• Equipment & test — $661,009.00, 0% of its AI holdings, 9 companies
• Interconnect — $488,269.00, 0% of its AI holdings, 5 companies

Biggest changes this quarter

• added to Microsoft (MSFT): +$56.0M at the quarter's price
• added to Apple (AAPL): +$40.5M at the quarter's price
• added to Alphabet (GOOGL): +$29.8M at the quarter's price
• added to Intel (INTC): +$27.5M at the quarter's price
• added to Amazon (AMZN): +$23.8M at the quarter's price
• opened a position in POET Technologies (POET): +$16.9M at the quarter's price
• added to Marvell (MRVL): +$7.0M at the quarter's price
• opened a position in AXT (AXTI): +$5.8M at the quarter's price
• added to IREN (IREN): +$4.0M at the quarter's price
• added to Applied Optoelectronics (AAOI): +$3.8M at the quarter's price

Other holders of this size

• Vanguard — $3.6T in 225 of these companies
• BlackRock — $3.1T in 226 of these companies
• State Street — $1.6T in 222 of these companies
• Fidelity (FMR) — $1.2T in 223 of these companies
• Geode Capital — $890.9B in 220 of these companies
• Capital Group — $881.7B in 132 of these companies
• JPMorgan — $717.8B in 225 of these companies
• Invesco — $683.3B in 220 of these companies

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