HM PAYSON & CO

HM PAYSON & CO declares $3.5B in 112 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 46.4% of its $7.5B 13F portfolio. Largest positions: Alphabet (0.01% of the company) and Apple (0.01% of the company). Over time: $3.5B in 112 of these companies for Q2 2026, against $855.8M in 69 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $52.3M and sold $163.8M of these stocks, at the quarter's prices: a net sale of $111.5M; 10 new positions and 3 sold out.

Performance of its AI picks

The AI-stock portfolio HM PAYSON & CO declared for Q2 2026 (Form 13F), held unchanged, returned +2.8% in Q3 2026 (SMH -7.1%), ranked 1040 of 1,783 active managers. Over the last 12 months, quarter after quarter: +26.1% (SMH +87.2%), ranked 858 of 1,359 active managers. Over three years, quarter after quarter: +141.8% (SMH +325.8%), ranked 452 of 783 active managers. Over five years, quarter after quarter: +159.1% (SMH +389.8%). 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. Alphabet (GOOGL) — $536.7M: 1.5M shares, 0.01% of the company, 7.1% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
2. Apple (AAPL) — $481.9M: 1.7M shares, 0.01% of the company, 6.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. Broadcom (AVGO) — $414.8M: 1.1M shares, 0.02% of the company, 5.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
4. Microsoft (MSFT) — $353.9M: 948,625 shares, 0.01% of the company, 4.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
5. Lam Research (LRCX) — $351.4M: 810,989 shares, 0.06% of the company, 4.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. NVIDIA (NVDA) — $348.3M: 1.7M shares, 0.01% of the company, 4.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
7. Amazon (AMZN) — $214.6M: 900,398 shares, 0.01% of the company, 2.8% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
8. ASML (ASML) — $171.8M: 86,363 shares, 0.02% of the company, 2.3% of its portfolio (trimmed this quarter); held since Q4 2020
9. Meta Platforms (META) — $87.5M: 155,257 shares, 0.01% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
10. nVent (NVT) — $72.8M: 429,179 shares, 0.27% of the company, 0.97% of its portfolio (trimmed this quarter); held since Q3 2023
11. Caterpillar (CAT) — $59.6M: 56,006 shares, 0.01% of the company, 0.79% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
12. Hubbell (HUBB) — $53.2M: 101,771 shares, 0.19% of the company, 0.71% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
13. Oracle (ORCL) — $47.7M: 325,784 shares, 0.01% of the company, 0.63% of its portfolio (added this quarter); held since Q4 2019 or earlier
14. Cummins (CMI) — $41.5M: 58,256 shares, 0.04% of the company, 0.55% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
15. Eaton (ETN) — $34.1M: 79,974 shares, 0.02% of the company, 0.45% of its portfolio (added this quarter); held since Q4 2019 or earlier

By sector

• Cloud & AI giants — $1.7B, 48% of its AI holdings, 6 companies
• Chips & compute — $823.2M, 24% of its AI holdings, 16 companies
• Equipment & test — $530.6M, 15% of its AI holdings, 7 companies
• Power, electrical & cooling — $299.1M, 9% of its AI holdings, 34 companies
• AI software — $88.2M, 3% of its AI holdings, 18 companies
• Interconnect — $46.3M, 1% of its AI holdings, 6 companies
• Servers & systems — $22.6M, 1% of its AI holdings, 7 companies
• Neoclouds & data centers — $7.7M, 0% of its AI holdings, 9 companies
• Memory & storage — $2.9M, 0% of its AI holdings, 4 companies
• Optics — $1.5M, 0% of its AI holdings, 5 companies

Biggest changes this quarter

• trimmed Caterpillar (CAT): -$56.7M at the quarter's price
• trimmed Accenture (ACN): -$21.6M at the quarter's price
• added to Eaton (ETN): +$18.9M at the quarter's price
• trimmed Alphabet (GOOGL): -$14.2M at the quarter's price
• trimmed Lam Research (LRCX): -$14.0M at the quarter's price
• added to Oracle (ORCL): +$12.7M at the quarter's price
• trimmed Meta Platforms (META): -$11.5M at the quarter's price
• trimmed Broadcom (AVGO): -$9.2M at the quarter's price
• added to Amphenol (APH): +$9.1M at the quarter's price
• trimmed Apple (AAPL): -$7.9M at the quarter's price

Other holders of this size

• GENERATION INVESTMENT MANAGEMENT LLP — $3.5B in 6 of these companies
• Select Equity Group, L.P. — $3.5B in 19 of these companies
• Thrive Capital Management, LLC — $3.4B in 2 of these companies
• SILVERCREST ASSET MANAGEMENT GROUP LLC — $3.6B in 112 of these companies
• Cullen/Frost Bankers, Inc. — $3.4B in 134 of these companies
• Investment Management Corp of Ontario — $3.6B in 104 of these companies
• ATALANTA SOSNOFF CAPITAL, LLC — $3.4B in 34 of these companies
• SRS Investment Management, LLC — $3.6B in 12 of these companies

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