Penserra Capital Management LLC

Penserra Capital Management LLC declares $5.2B in 139 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 40.3% of its $13.0B 13F portfolio. Largest positions: Broadcom (0.01% of the company) and Cisco (0.06% of the company). It is an index manager: its trades follow fund flows, so they are left out of the quarter's moves on /holders. Over time: $5.2B in 139 of these companies for Q2 2026, against $252.5M in 92 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $669.0M and sold $750.4M of these stocks, at the quarter's prices: a net sale of $81.4M; 6 new positions and 10 sold out.

Performance of its AI picks

The AI-stock portfolio Penserra Capital Management LLC declared for Q2 2026 (Form 13F), held unchanged, returned -1.8% in Q3 2026 (SMH -7.1%). Over the last 12 months, quarter after quarter: +73.5% (SMH +87.2%). Over three years, quarter after quarter: +287.7% (SMH +325.8%). Over five years, quarter after quarter: +298.5% (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. Broadcom (AVGO): $270.9M, 717,249 shares, 0.01% of the company, 2.1% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. Cisco (CSCO): $255.0M, 2.2M shares, 0.06% of the company, 2.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. Cloudflare (NET): $200.2M, 816,098 shares, 0.23% of the company, 1.5% of its portfolio (added this quarter); held since Q2 2021
4. Palo Alto Networks (PANW): $174.8M, 512,563 shares, 0.06% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
5. CrowdStrike (CRWD): $146.3M, 766,660 shares, 0.07% of the company, 1.1% of its portfolio (trimmed this quarter); held since Q3 2020
6. Fortinet (FTNT): $139.4M, 907,394 shares, 0.12% of the company, 1.1% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
7. Marvell (MRVL): $132.6M, 445,024 shares, 0.05% of the company, 1.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
8. NVIDIA (NVDA): $116.9M, 584,086 shares, 0.00% of the company, 0.90% of its portfolio (added this quarter); held since Q4 2019 or earlier
9. Lam Research (LRCX): $108.7M, 250,861 shares, 0.02% of the company, 0.84% of its portfolio (trimmed this quarter); held since Q4 2024
10. AMD (AMD): $107.2M, 184,561 shares, 0.01% of the company, 0.82% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
11. Micron (MU): $106.6M, 92,332 shares, 0.01% of the company, 0.82% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
12. Arm Holdings (ARM): $104.6M, 295,071 shares, 0.03% of the company, 0.80% of its portfolio (trimmed this quarter); held since Q2 2025
13. Zscaler (ZS): $104.4M, 739,440 shares, 0.45% of the company, 0.80% of its portfolio (added this quarter); held since Q3 2020
14. Applied Materials (AMAT): $104.3M, 144,291 shares, 0.02% of the company, 0.80% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
15. Astera Labs (ALAB): $101.3M, 209,629 shares, 0.12% of the company, 0.78% of its portfolio (trimmed this quarter); held since Q4 2024

By sector

• Chips & compute: $1.7B, 33% of its AI holdings, 24 companies
• AI software: $1.3B, 25% of its AI holdings, 22 companies
• Equipment & test: $685.1M, 13% of its AI holdings, 10 companies
• Interconnect: $468.1M, 9% of its AI holdings, 10 companies
• Cloud & AI giants: $366.2M, 7% of its AI holdings, 6 companies
• Neoclouds & data centers: $229.5M, 4% of its AI holdings, 16 companies
• Servers & systems: $165.4M, 3% of its AI holdings, 7 companies
• Memory & storage: $144.8M, 3% of its AI holdings, 6 companies
• Optics: $125.0M, 2% of its AI holdings, 7 companies
• Power, electrical & cooling: $36.7M, 1% of its AI holdings, 31 companies

Biggest changes this quarter

• trimmed Micron (MU): -$107.4M at the quarter's price
• added to Nebius (NBIS): +$86.4M at the quarter's price
• added to Amazon (AMZN): +$67.0M at the quarter's price
• trimmed Marvell (MRVL): -$65.2M at the quarter's price
• trimmed Palo Alto Networks (PANW): -$59.6M at the quarter's price
• trimmed CrowdStrike (CRWD): -$56.2M at the quarter's price
• trimmed Intel (INTC): -$54.0M at the quarter's price
• trimmed STMicroelectronics (STM): -$41.6M at the quarter's price
• trimmed Fortinet (FTNT): -$38.0M at the quarter's price
• trimmed AMD (AMD): -$35.8M at the quarter's price

Other holders of this size

• Evergreen Quality Fund GP, Ltd.: $5.2B in 26 of these companies
• Utah Retirement Systems: $5.2B in 147 of these companies
• Employees Retirement System of Texas: $5.2B in 71 of these companies
• Mawer Investment Management Ltd.: $5.3B in 26 of these companies
• New York Life Investment Management LLC: $5.2B in 108 of these companies
• SCGE MANAGEMENT, L.P.: $5.3B in 15 of these companies
• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp: $5.2B in 103 of these companies
• AEGON ASSET MANAGEMENT UK Plc: $5.3B in 39 of these companies

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