MILFORD FUNDS LTD

MILFORD FUNDS LTD declares $3.1B in 29 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 50.3% of its $6.1B 13F portfolio. Largest positions: NVIDIA (0.01% of the company) and Amazon (0.02% of the company). Over time: $3.1B in 29 of these companies for Q2 2026, against $2.3B in 18 for Q4 2025 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $919.8M and sold $471.9M of these stocks, at the quarter's prices: a net purchase of $447.9M; 8 new positions and 1 sold out.

Performance of its AI picks

The AI-stock portfolio MILFORD FUNDS LTD declared for Q2 2026 (Form 13F), held unchanged, returned +8.1% in Q3 2026 (SMH -7.1%), ranked 221 of 1,783 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. NVIDIA (NVDA) — $401.8M: 2.0M shares, 0.01% of the company, 6.5% of its portfolio (added this quarter); held since Q4 2025
2. Amazon (AMZN) — $398.1M: 1.7M shares, 0.02% of the company, 6.5% of its portfolio (added this quarter); held since Q4 2025
3. Microsoft (MSFT) — $379.3M: 1.0M shares, 0.01% of the company, 6.2% of its portfolio (added this quarter); held since Q4 2025
4. Alphabet (GOOGL) — $347.5M: 983,421 shares, 0.01% of the company, 5.7% of its portfolio (added this quarter); held since Q4 2025
5. Apple (AAPL) — $331.1M: 1.1M shares, 0.01% of the company, 5.4% of its portfolio (added this quarter); held since Q4 2025
6. TSMC (TSM) — $231.4M: 484,461 shares, 0.01% of the company, 3.8% of its portfolio (trimmed this quarter); held since Q4 2025
7. Meta Platforms (META) — $189.7M: 336,824 shares, 0.01% of the company, 3.1% of its portfolio (added this quarter); held since Q4 2025
8. Micron (MU) — $123.0M: 106,516 shares, 0.01% of the company, 2.0% of its portfolio (trimmed this quarter); held since Q4 2025
9. Broadcom (AVGO) — $116.8M: 309,303 shares, 0.01% of the company, 1.9% of its portfolio (added this quarter); held since Q4 2025
10. Crown Castle (CCI) — $91.9M: 1.2M shares, 0.29% of the company, 1.5% of its portfolio (trimmed this quarter); held since Q4 2025
11. American Tower (AMT) — $80.1M: 489,853 shares, 0.11% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q4 2025
12. Applied Materials (AMAT) — $73.8M: 102,084 shares, 0.01% of the company, 1.2% of its portfolio (added this quarter); held since Q1 2026
13. AMD (AMD) — $73.6M: 126,671 shares, 0.01% of the company, 1.2% of its portfolio (added this quarter); held since Q1 2026
14. Duke Energy (DUK) — $69.9M: 552,093 shares, 0.07% of the company, 1.1% of its portfolio (trimmed this quarter); held since Q4 2025
15. Intuit (INTU) — $52.9M: 202,506 shares, 0.08% of the company, 0.86% of its portfolio (trimmed this quarter); held since Q4 2025

By sector

• Cloud & AI giants — $1.7B, 54% of its AI holdings, 6 companies
• Chips & compute — $858.3M, 28% of its AI holdings, 6 companies
• Neoclouds & data centers — $172.4M, 6% of its AI holdings, 3 companies
• Memory & storage — $129.8M, 4% of its AI holdings, 2 companies
• AI software — $112.5M, 4% of its AI holdings, 7 companies
• Power, electrical & cooling — $87.0M, 3% of its AI holdings, 3 companies
• Equipment & test — $73.8M, 2% of its AI holdings, 1 company
• Servers & systems — $1.2M, 0% of its AI holdings, 1 company

Biggest changes this quarter

• trimmed Micron (MU): -$179.1M at the quarter's price
• added to Apple (AAPL): +$174.5M at the quarter's price
• added to NVIDIA (NVDA): +$157.2M at the quarter's price
• added to Alphabet (GOOGL): +$127.0M at the quarter's price
• added to Amazon (AMZN): +$117.7M at the quarter's price
• added to Microsoft (MSFT): +$103.3M at the quarter's price
• trimmed Salesforce (CRM): -$77.3M at the quarter's price
• trimmed TSMC (TSM): -$75.2M at the quarter's price
• added to Meta Platforms (META): +$62.6M at the quarter's price
• trimmed Intuit (INTU): -$46.5M at the quarter's price

Other holders of this size

• CAPITAL FUND MANAGEMENT S.A. — $3.1B in 101 of these companies
• D.A. DAVIDSON & CO. — $3.1B in 125 of these companies
• MEITAV INVESTMENT HOUSE LTD — $3.1B in 52 of these companies
• Trivest Advisors Ltd — $3.1B in 12 of these companies
• Boston Trust Walden Corp — $3.1B in 56 of these companies
• Private Advisor Group, LLC — $3.2B in 158 of these companies
• UNITED CAPITAL FINANCIAL ADVISORS, LLC — $3.2B in 135 of these companies
• VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. — $3.2B in 35 of these companies

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