GW&K Investment Management, LLC

GW&K Investment Management, LLC declares $2.8B in 123 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 21.7% of its $12.8B 13F portfolio. Largest positions: MACOM (0.83% of the company) and Advanced Energy Industries (1.4% of the company). Over time: $2.8B in 123 of these companies for Q2 2026, against $622.1M in 19 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $227.9M and sold $587.9M of these stocks, at the quarter's prices: a net sale of $360.1M; 5 new positions.

Performance of its AI picks

The AI-stock portfolio GW&K Investment Management, LLC declared for Q2 2026 (Form 13F), held unchanged, returned -16.0% in Q3 2026 (SMH -7.1%), ranked 1718 of 1,783 active managers. Over the last 12 months, quarter after quarter: +57.8% (SMH +87.2%), ranked 128 of 1,359 active managers. Over three years, quarter after quarter: +231.4% (SMH +325.8%), ranked 62 of 783 active managers. Over five years, quarter after quarter: +230.5% (SMH +389.8%), ranked 54 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. MACOM (MTSI) — $241.4M: 634,742 shares, 0.83% of the company, 1.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
2. Advanced Energy Industries (AEIS) — $215.5M: 577,834 shares, 1.4% of the company, 1.7% of its portfolio (trimmed this quarter); held since Q2 2024
3. SPX Technologies (SPXC) — $175.0M: 713,791 shares, 1.4% of the company, 1.4% of its portfolio (added this quarter); held since Q2 2021
4. Sterling Infrastructure (STRL) — $165.9M: 197,645 shares, 0.65% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q2 2024
5. Entegris (ENTG) — $125.3M: 696,739 shares, 0.46% of the company, 0.98% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. Fabrinet (FN) — $118.5M: 210,752 shares, 0.59% of the company, 0.93% of its portfolio (added this quarter); held since Q1 2026
7. Powell Industries (POWL) — $117.4M: 410,122 shares, 1.1% of the company, 0.92% of its portfolio (trimmed this quarter); held since Q1 2025
8. Coherent (COHR) — $112.6M: 285,545 shares, 0.15% of the company, 0.88% of its portfolio (trimmed this quarter); held since Q1 2026
9. Broadcom (AVGO) — $102.8M: 272,092 shares, 0.01% of the company, 0.80% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
10. Microsoft (MSFT) — $100.4M: 269,177 shares, 0.00% of the company, 0.78% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
11. Comfort Systems USA (FIX) — $86.9M: 43,819 shares, 0.12% of the company, 0.68% of its portfolio (trimmed this quarter); held since Q4 2020
12. Jabil (JBL) — $84.6M: 219,538 shares, 0.21% of the company, 0.66% of its portfolio (trimmed this quarter); held since Q1 2024
13. Solaris Energy Infrastructure (SEI) — $83.5M: 1.0M shares, 1.4% of the company, 0.65% of its portfolio (trimmed this quarter); held since Q4 2020
14. Dell (DELL) — $76.2M: 176,499 shares, 0.03% of the company, 0.60% of its portfolio (added this quarter); held since Q3 2024
15. NVIDIA (NVDA) — $65.9M: 329,277 shares, 0.00% of the company, 0.51% of its portfolio (trimmed this quarter); held since Q1 2023

By sector

• Power, electrical & cooling — $825.9M, 30% of its AI holdings, 34 companies
• Interconnect — $419.3M, 15% of its AI holdings, 9 companies
• Chips & compute — $381.6M, 14% of its AI holdings, 19 companies
• Equipment & test — $343.1M, 12% of its AI holdings, 10 companies
• Optics — $296.0M, 11% of its AI holdings, 6 companies
• Cloud & AI giants — $230.5M, 8% of its AI holdings, 5 companies
• Servers & systems — $181.7M, 7% of its AI holdings, 8 companies
• Memory & storage — $69.3M, 2% of its AI holdings, 5 companies
• Neoclouds & data centers — $25.9M, 1% of its AI holdings, 10 companies
• AI software — $2.2M, 0% of its AI holdings, 17 companies

Biggest changes this quarter

• trimmed Comfort Systems USA (FIX): -$102.8M at the quarter's price
• trimmed Sterling Infrastructure (STRL): -$89.9M at the quarter's price
• trimmed MACOM (MTSI): -$77.7M at the quarter's price
• trimmed Credo (CRDO): -$62.6M at the quarter's price
• trimmed Powell Industries (POWL): -$54.8M at the quarter's price
• trimmed Jabil (JBL): -$48.5M at the quarter's price
• added to Fabrinet (FN): +$46.3M at the quarter's price
• added to Seagate (STX): +$43.8M at the quarter's price
• opened a position in Argan (AGX): +$35.8M at the quarter's price
• added to Iron Mountain (IRM): +$24.8M 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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