FERGUSON WELLMAN CAPITAL MANAGEMENT, INC

FERGUSON WELLMAN CAPITAL MANAGEMENT, INC declares $3.2B in 56 of the 220 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 38.9% of its $8.2B 13F portfolio. Largest positions: Alphabet (0.01% of the company) and Apple (0.01% of the company). Over time: $3.2B in 56 of these companies for Q2 2026, against $748.0M in 41 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $158.3M and sold $59.3M of these stocks, at the quarter's prices: a net purchase of $99.0M; 5 new positions and 1 sold out.

Performance of its AI picks

The AI-stock portfolio FERGUSON WELLMAN CAPITAL MANAGEMENT, INC declared for Q2 2026 (Form 13F), held unchanged, returned +4.2% in Q3 2026 (SMH -7.1%), ranked 793 of 1,776 active managers. Over the last 12 months, quarter after quarter: +24.6% (SMH +87.2%), ranked 947 of 1,356 active managers. Over three years, quarter after quarter: +144.3% (SMH +325.8%), ranked 427 of 782 active managers. Over five years, quarter after quarter: +146.4% (SMH +389.8%), ranked 334 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. Alphabet (GOOGL) — $464.8M: 1.3M shares, 0.01% of the company, 5.7% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. Apple (AAPL) — $401.5M: 1.4M shares, 0.01% of the company, 4.9% of its portfolio (added this quarter); held since Q4 2019 or earlier
3. NVIDIA (NVDA) — $394.4M: 2.0M shares, 0.01% of the company, 4.8% of its portfolio (added this quarter); held since Q3 2020
4. Microsoft (MSFT) — $348.7M: 934,736 shares, 0.01% of the company, 4.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Broadcom (AVGO) — $267.2M: 707,464 shares, 0.01% of the company, 3.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
6. Cisco (CSCO) — $183.5M: 1.6M shares, 0.04% of the company, 2.2% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
7. Amazon (AMZN) — $177.7M: 745,418 shares, 0.01% of the company, 2.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
8. American Electric Power (AEP) — $123.6M: 903,792 shares, 0.17% of the company, 1.5% of its portfolio (added this quarter); held since Q2 2020
9. Entergy (ETR) — $121.8M: 1.1M shares, 0.23% of the company, 1.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
10. Micron (MU) — $111.5M: 96,572 shares, 0.01% of the company, 1.4% of its portfolio (trimmed this quarter); held since Q1 2025
11. Palo Alto Networks (PANW) — $77.1M: 226,065 shares, 0.03% of the company, 0.94% of its portfolio (added this quarter); held since Q2 2021
12. Cummins (CMI) — $71.0M: 99,511 shares, 0.07% of the company, 0.87% of its portfolio (new position this quarter)
13. TSMC (TSM) — $67.0M: 140,330 shares, 0.00% of the company, 0.82% of its portfolio (added this quarter); held since Q1 2026
14. Eaton (ETN) — $61.1M: 143,454 shares, 0.04% of the company, 0.75% of its portfolio (added this quarter); held since Q4 2019 or earlier
15. Analog Devices (ADI) — $54.9M: 138,288 shares, 0.03% of the company, 0.67% of its portfolio (added this quarter); held since Q4 2019 or earlier

By sector

• Cloud & AI giants — $1.4B, 45% of its AI holdings, 5 companies
• Chips & compute — $834.7M, 26% of its AI holdings, 10 companies
• Power, electrical & cooling — $462.6M, 15% of its AI holdings, 16 companies
• Interconnect — $184.2M, 6% of its AI holdings, 3 companies
• Memory & storage — $111.5M, 4% of its AI holdings, 1 company
• AI software — $101.6M, 3% of its AI holdings, 10 companies
• Servers & systems — $44.3M, 1% of its AI holdings, 3 companies
• Equipment & test — $13.7M, 0% of its AI holdings, 3 companies
• Optics — $4.5M, 0% of its AI holdings, 2 companies
• Neoclouds & data centers — $1.5M, 0% of its AI holdings, 3 companies

Biggest changes this quarter

• opened a position in Cummins (CMI): +$71.0M at the quarter's price
• trimmed Entergy (ETR): -$40.3M at the quarter's price
• added to NVIDIA (NVDA): +$19.1M at the quarter's price
• trimmed Micron (MU): -$15.4M at the quarter's price
• added to Texas Instruments (TXN): +$14.9M at the quarter's price
• added to Microsoft (MSFT): +$9.8M at the quarter's price
• added to Palo Alto Networks (PANW): +$9.7M at the quarter's price
• added to Analog Devices (ADI): +$8.9M at the quarter's price
• added to Apple (AAPL): +$6.7M at the quarter's price
• added to Alphabet (GOOGL): +$3.3M at the quarter's price

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