Morgan Stanley

Morgan Stanley declares $627.0B in 227 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 33.2% of its $1.9T 13F portfolio. Largest positions: NVIDIA (1.5% of the company) and Apple (1.7% of the company). It is a private wealth platform: it holds shares for many client accounts, so its trades are left out of the quarter's moves on /holders. Over time: $627.0B in 227 of these companies for Q2 2026, against $71.1B in 169 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $20.1B and sold $11.3B of these stocks, at the quarter's prices: a net purchase of $8.8B.

Performance of its AI picks

The AI-stock portfolio Morgan Stanley declared for Q2 2026 (Form 13F), held unchanged, returned +4.3% in Q3 2026 (SMH -7.1%). Over the last 12 months, quarter after quarter: +30.3% (SMH +87.2%). Over three years, quarter after quarter: +153.4% (SMH +325.8%). Over five years, quarter after quarter: +150.7% (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. NVIDIA (NVDA): $71.3B, 356.4M shares, 1.5% of the company, 3.8% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. Apple (AAPL): $70.2B, 242.6M shares, 1.7% of the company, 3.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. Alphabet (GOOGL): $68.7B, 192.9M shares, 1.6% of the company, 3.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
4. Microsoft (MSFT): $47.6B, 127.7M shares, 1.7% of the company, 2.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Amazon (AMZN): $42.8B, 179.4M shares, 1.7% of the company, 2.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
6. Broadcom (AVGO): $29.9B, 79.0M shares, 1.7% of the company, 1.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
7. Meta Platforms (META): $22.2B, 39.4M shares, 1.5% of the company, 1.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
8. Micron (MU): $21.3B, 18.5M shares, 1.6% of the company, 1.1% of its portfolio (added this quarter); held since Q4 2019 or earlier
9. AMD (AMD): $14.1B, 24.3M shares, 1.5% of the company, 0.75% of its portfolio (added this quarter); held since Q4 2019 or earlier
10. Palo Alto Networks (PANW): $10.0B, 29.5M shares, 3.6% of the company, 0.53% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
11. Applied Materials (AMAT): $9.8B, 13.5M shares, 1.7% of the company, 0.52% of its portfolio (added this quarter); held since Q4 2019 or earlier
12. Cisco (CSCO): $9.4B, 80.4M shares, 2.0% of the company, 0.50% of its portfolio (added this quarter); held since Q4 2019 or earlier
13. Intel (INTC): $8.6B, 61.5M shares, 1.2% of the company, 0.45% of its portfolio (added this quarter); held since Q4 2019 or earlier
14. Lam Research (LRCX): $8.3B, 19.2M shares, 1.5% of the company, 0.44% of its portfolio (added this quarter); held since Q4 2019 or earlier
15. Caterpillar (CAT): $8.0B, 7.5M shares, 1.6% of the company, 0.42% of its portfolio (added this quarter); held since Q4 2019 or earlier

By sector

• Cloud & AI giants: $253.8B, 40% of its AI holdings, 6 companies
• Chips & compute: $151.8B, 24% of its AI holdings, 38 companies
• Power, electrical & cooling: $58.8B, 9% of its AI holdings, 47 companies
• AI software: $45.9B, 7% of its AI holdings, 31 companies
• Memory & storage: $37.1B, 6% of its AI holdings, 7 companies
• Equipment & test: $31.1B, 5% of its AI holdings, 30 companies
• Interconnect: $19.0B, 3% of its AI holdings, 11 companies
• Servers & systems: $11.9B, 2% of its AI holdings, 12 companies
• Neoclouds & data centers: $9.7B, 2% of its AI holdings, 31 companies
• Optics: $7.9B, 1% of its AI holdings, 14 companies

Biggest changes this quarter

• added to NVIDIA (NVDA): +$2.7B at the quarter's price
• added to Micron (MU): +$1.9B at the quarter's price
• trimmed Salesforce (CRM): -$1.3B at the quarter's price
• added to Amazon (AMZN): +$1.3B at the quarter's price
• added to Applied Materials (AMAT): +$1.2B at the quarter's price
• added to Broadcom (AVGO): +$1.2B at the quarter's price
• added to Intel (INTC): +$1.1B at the quarter's price
• added to Microsoft (MSFT): +$1.0B at the quarter's price
• trimmed Sandisk (SNDK): -$998.1M at the quarter's price
• trimmed Palo Alto Networks (PANW): -$978.4M at the quarter's price

Schedule 13D/G declarations

• Cipher Mining (CIFR): 13G filed Aug 13, 2026: 26.3M shares as of Jun 30, 2026, 6.3% as declared
• TeraWulf (WULF): 13G filed Aug 13, 2026: 30.4M shares as of Jun 30, 2026, 6.1% as declared
• Wolfspeed (WOLF): 13G filed Aug 13, 2026: 2.4M shares as of Jun 30, 2026, 4.6% as declared
• CEVA (CEVA): 13G filed Aug 12, 2026: 1.4M shares as of Jun 30, 2026, 5.1% as declared
• LandBridge (LB): 13G filed May 12, 2026: 1.1M shares as of Mar 31, 2026, 4.1% as declared
• Bloom Energy (BE): 13G filed May 11, 2026: 9.6M shares as of Mar 31, 2026, 3.4% as declared
• LandBridge (LB): 13G filed Feb 6, 2026: 2.1M shares as of Jan 31, 2026, 8.3% as declared
• Wolfspeed (WOLF): 13G filed Feb 12, 2026: 2.5M shares as of Dec 31, 2025, 9.5% as declared
• Cloudflare (NET): 13G filed Feb 12, 2026: 16.8M shares as of Dec 31, 2025, 5.3% as declared
• Bloom Energy (BE): 13G filed Aug 7, 2025: 11.9M shares as of Jun 30, 2025, 5.1% as declared

Other holders of this size

• T. Rowe Price: $529.7B in 215 of these companies
• Invesco: $683.3B in 220 of these companies
• Norges Bank: $478.8B in 161 of these companies
• JPMorgan: $717.8B in 225 of these companies
• UBS: $462.8B in 227 of these companies
• Capital Group: $881.7B in 132 of these companies
• Bank of America: $385.2B in 223 of these companies
• Geode Capital: $890.9B in 220 of these companies

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