Select Equity Group, L.P.

Select Equity Group, L.P. declares $3.5B in 19 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 17.5% of its $20.2B 13F portfolio. Largest positions: TSMC (0.02% of the company) and Entegris (1.6% of the company). Over time: $3.5B in 19 of these companies for Q2 2026, against $2.9B in 21 for Q4 2021 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $1.1B and sold $560.1M of these stocks, at the quarter's prices: a net purchase of $571.3M; 8 sold out.

Performance of its AI picks

The AI-stock portfolio Select Equity Group, L.P. declared for Q2 2026 (Form 13F), held unchanged, returned -4.8% in Q3 2026 (SMH -7.1%), ranked 1527 of 1,783 active managers. Over the last 12 months, quarter after quarter: +23.7% (SMH +87.2%), ranked 1004 of 1,359 active managers. Over three years, quarter after quarter: +141.6% (SMH +325.8%), ranked 453 of 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. TSMC (TSM) — $489.1M: 1.0M shares, 0.02% of the company, 2.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
2. Entegris (ENTG) — $448.6M: 2.5M shares, 1.6% of the company, 2.2% of its portfolio (added this quarter); held since Q2 2020
3. Hubbell (HUBB) — $437.0M: 835,260 shares, 1.6% of the company, 2.2% of its portfolio (added this quarter); held since Q1 2026
4. EMCOR (EME) — $348.4M: 419,806 shares, 0.95% of the company, 1.7% of its portfolio (trimmed this quarter); held since Q3 2023
5. BWX Technologies (BWXT) — $331.7M: 1.7M shares, 1.9% of the company, 1.6% of its portfolio (added this quarter); held since Q2 2025
6. NVIDIA (NVDA) — $279.5M: 1.4M shares, 0.01% of the company, 1.4% of its portfolio (added this quarter); held since Q2 2025
7. Amazon (AMZN) — $222.2M: 932,301 shares, 0.01% of the company, 1.1% of its portfolio (added this quarter); held since Q4 2023
8. Amphenol (APH) — $220.4M: 2.5M shares, 0.10% of the company, 1.1% of its portfolio (added this quarter); held since Q4 2019 or earlier
9. Intel (INTC) — $209.9M: 1.5M shares, 0.03% of the company, 1.0% of its portfolio (added this quarter); held since Q2 2025
10. Salesforce (CRM) — $129.8M: 828,563 shares, 0.10% of the company, 0.64% of its portfolio (added this quarter); held since Q1 2022
11. Microsoft (MSFT) — $128.7M: 345,152 shares, 0.00% of the company, 0.64% of its portfolio (added this quarter); held since Q4 2019 or earlier
12. Alphabet (GOOGL) — $98.6M: 279,055 shares, 0.00% of the company, 0.49% of its portfolio (added this quarter); held since Q4 2019 or earlier
13. Broadcom (AVGO) — $97.1M: 257,148 shares, 0.01% of the company, 0.48% of its portfolio (added this quarter); held since Q3 2024
14. FormFactor (FORM) — $45.7M: 285,686 shares, 0.37% of the company, 0.23% of its portfolio (added this quarter); held since Q4 2024
15. GlobalFoundries (GFS) — $19.1M: 231,783 shares, 0.04% of the company, 0.09% of its portfolio (added this quarter); held since Q2 2025

By sector

• Power, electrical & cooling — $1.1B, 32% of its AI holdings, 4 companies
• Chips & compute — $1.1B, 31% of its AI holdings, 5 companies
• Equipment & test — $494.2M, 14% of its AI holdings, 2 companies
• Cloud & AI giants — $467.2M, 13% of its AI holdings, 4 companies
• Interconnect — $220.4M, 6% of its AI holdings, 1 company
• AI software — $129.8M, 4% of its AI holdings, 2 companies
• Optics — $10.8M, 0% of its AI holdings, 1 company

Biggest changes this quarter

• added to Entegris (ENTG): +$264.9M at the quarter's price
• added to Hubbell (HUBB): +$241.2M at the quarter's price
• trimmed Cloudflare (NET): -$209.7M at the quarter's price
• added to BWX Technologies (BWXT): +$190.3M at the quarter's price
• sold out of Quanta Services (PWR): -$144.8M at the quarter's price
• added to Amazon (AMZN): +$144.4M at the quarter's price
• trimmed EMCOR (EME): -$112.9M at the quarter's price
• added to NVIDIA (NVDA): +$98.7M at the quarter's price
• sold out of Intuit (INTU): -$60.8M at the quarter's price
• added to Salesforce (CRM): +$51.2M at the quarter's price

Other holders of this size

• HM PAYSON & CO — $3.5B in 112 of these companies
• SILVERCREST ASSET MANAGEMENT GROUP LLC — $3.6B in 112 of these companies
• GENERATION INVESTMENT MANAGEMENT LLP — $3.5B in 6 of these companies
• Investment Management Corp of Ontario — $3.6B in 104 of these companies
• Thrive Capital Management, LLC — $3.4B in 2 of these companies
• SRS Investment Management, LLC — $3.6B in 12 of these companies
• Cullen/Frost Bankers, Inc. — $3.4B in 134 of these companies
• Walleye Trading LLC — $3.6B in 108 of these companies

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