MERCER GLOBAL ADVISORS INC /ADV

MERCER GLOBAL ADVISORS INC /ADV declares $11.4B in 203 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 14.1% of its $80.9B 13F portfolio. Largest positions: Apple (0.05% of the company) and NVIDIA (0.03% of the company). Over time: $11.4B in 203 of these companies for Q2 2026, against $466.5M in 83 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $896.5M and sold $196.5M of these stocks, at the quarter's prices: a net purchase of $700.1M; 17 new positions and 2 sold out.

Performance of its AI picks

The AI-stock portfolio MERCER GLOBAL ADVISORS INC /ADV declared for Q2 2026 (Form 13F), held unchanged, returned +3.6% in Q3 2026 (SMH -7.1%), ranked 908 of 1,785 active managers. Over the last 12 months, quarter after quarter: +32.9% (SMH +87.2%), ranked 438 of 1,360 active managers. Over three years, quarter after quarter: +125.3% (SMH +325.8%), ranked 605 of 784 active managers. Over five years, quarter after quarter: +145.6% (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. Apple (AAPL): $2.0B, 7.0M shares, 0.05% of the company, 2.5% of its portfolio (added this quarter); held since Q3 2025
2. NVIDIA (NVDA): $1.5B, 7.7M shares, 0.03% of the company, 1.9% of its portfolio (added this quarter); held since Q3 2025
3. Alphabet (GOOGL): $1.1B, 3.1M shares, 0.03% of the company, 1.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
4. Microsoft (MSFT): $808.0M, 2.2M shares, 0.03% of the company, 1.00% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Amazon (AMZN): $582.5M, 2.4M shares, 0.02% of the company, 0.72% of its portfolio (added this quarter); held since Q4 2024
6. Broadcom (AVGO): $465.0M, 1.2M shares, 0.03% of the company, 0.57% of its portfolio (added this quarter); held since Q3 2025
7. Micron (MU): $458.5M, 397,223 shares, 0.04% of the company, 0.57% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
8. Meta Platforms (META): $300.0M, 532,588 shares, 0.02% of the company, 0.37% of its portfolio (added this quarter); held since Q3 2025
9. Lam Research (LRCX): $262.8M, 606,442 shares, 0.05% of the company, 0.32% of its portfolio (trimmed this quarter); held since Q4 2024
10. Intel (INTC): $255.5M, 1.8M shares, 0.03% of the company, 0.32% of its portfolio (trimmed this quarter); held since Q3 2025
11. AMD (AMD): $247.6M, 426,204 shares, 0.03% of the company, 0.31% of its portfolio (added this quarter); held since Q3 2025
12. Applied Materials (AMAT): $206.9M, 286,104 shares, 0.04% of the company, 0.26% of its portfolio (added this quarter); held since Q4 2024
13. Caterpillar (CAT): $201.6M, 189,337 shares, 0.04% of the company, 0.25% of its portfolio (added this quarter); held since Q4 2019 or earlier
14. KLA (KLAC): $179.1M, 593,590 shares, 0.05% of the company, 0.22% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
15. Cisco (CSCO): $172.5M, 1.5M shares, 0.04% of the company, 0.21% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier

By sector

• Cloud & AI giants: $4.8B, 42% of its AI holdings, 6 companies
• Chips & compute: $2.9B, 26% of its AI holdings, 35 companies
• Power, electrical & cooling: $925.3M, 8% of its AI holdings, 46 companies
• Equipment & test: $804.3M, 7% of its AI holdings, 24 companies
• Memory & storage: $637.8M, 6% of its AI holdings, 6 companies
• AI software: $446.7M, 4% of its AI holdings, 30 companies
• Interconnect: $398.0M, 3% of its AI holdings, 11 companies
• Servers & systems: $223.3M, 2% of its AI holdings, 12 companies
• Optics: $160.5M, 1% of its AI holdings, 12 companies
• Neoclouds & data centers: $93.8M, 1% of its AI holdings, 21 companies

Biggest changes this quarter

• added to NVIDIA (NVDA): +$102.5M at the quarter's price
• trimmed Intel (INTC): -$96.0M at the quarter's price
• added to Apple (AAPL): +$93.2M at the quarter's price
• added to AMD (AMD): +$85.5M at the quarter's price
• added to Microsoft (MSFT): +$54.9M at the quarter's price
• added to Amazon (AMZN): +$53.7M at the quarter's price
• added to Alphabet (GOOGL): +$49.7M at the quarter's price
• added to Caterpillar (CAT): +$34.7M at the quarter's price
• added to Meta Platforms (META): +$32.4M at the quarter's price
• added to Palo Alto Networks (PANW): +$19.1M at the quarter's price

Other holders of this size

• State of New Jersey Common Pension Fund D: $11.4B in 192 of these companies
• Swiss Life Asset Management Ltd: $11.8B in 175 of these companies
• AustralianSuper Pty Ltd: $11.4B in 60 of these companies
• MENORA MIVTACHIM HOLDINGS LTD.: $11.9B in 26 of these companies
• Lansforsakringar Fondforvaltning AB (publ): $11.3B in 98 of these companies
• NOMURA HOLDINGS INC: $12.0B in 153 of these companies
• CIBC WORLD MARKET INC.: $11.3B in 134 of these companies
• Vontobel Holding Ltd.: $12.1B in 158 of these companies

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