SILVERCREST ASSET MANAGEMENT GROUP LLC

SILVERCREST ASSET MANAGEMENT GROUP LLC declares $3.6B in 112 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 23.4% of its $15.3B 13F portfolio. Largest positions: Alphabet (0.01% of the company) and Broadcom (0.02% of the company). Over time: $3.6B in 112 of these companies for Q2 2026, against $1.4B in 59 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $176.4M and sold $593.4M of these stocks, at the quarter's prices: a net sale of $417.0M; 13 new positions and 7 sold out.

Performance of its AI picks

The AI-stock portfolio SILVERCREST ASSET MANAGEMENT GROUP LLC declared for Q2 2026 (Form 13F), held unchanged, returned -2.9% in Q3 2026 (SMH -7.1%), ranked 1453 of 1,783 active managers. Over the last 12 months, quarter after quarter: +40.6% (SMH +87.2%), ranked 272 of 1,359 active managers. Over three years, quarter after quarter: +175.0% (SMH +325.8%). Over five years, quarter after quarter: +207.0% (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. Alphabet (GOOGL) — $485.8M: 1.4M shares, 0.01% of the company, 3.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. Broadcom (AVGO) — $309.9M: 820,278 shares, 0.02% of the company, 2.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
3. Microsoft (MSFT) — $236.8M: 634,750 shares, 0.01% of the company, 1.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
4. Apple (AAPL) — $232.1M: 802,249 shares, 0.01% of the company, 1.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Cisco (CSCO) — $211.5M: 1.8M shares, 0.05% of the company, 1.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
6. Eaton (ETN) — $147.3M: 345,698 shares, 0.09% of the company, 0.97% of its portfolio (added this quarter); held since Q4 2019 or earlier
7. NVIDIA (NVDA) — $124.8M: 623,601 shares, 0.00% of the company, 0.82% of its portfolio (added this quarter); held since Q4 2019 or earlier
8. Amazon (AMZN) — $119.2M: 500,208 shares, 0.00% of the company, 0.78% of its portfolio (added this quarter); held since Q4 2019 or earlier
9. Meta Platforms (META) — $117.4M: 208,362 shares, 0.01% of the company, 0.77% of its portfolio (added this quarter); held since Q4 2019 or earlier
10. Applied Materials (AMAT) — $97.9M: 135,469 shares, 0.02% of the company, 0.64% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
11. IBM (IBM) — $91.8M: 326,399 shares, 0.03% of the company, 0.60% of its portfolio (added this quarter); held since Q4 2019 or earlier
12. Plexus (PLXS) — $83.2M: 276,664 shares, 1.0% of the company, 0.55% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
13. TSMC (TSM) — $80.0M: 167,506 shares, 0.00% of the company, 0.52% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
14. Advanced Energy Industries (AEIS) — $77.3M: 207,316 shares, 0.52% of the company, 0.51% of its portfolio (trimmed this quarter); held since Q4 2024
15. Texas Instruments (TXN) — $52.6M: 176,330 shares, 0.02% of the company, 0.34% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier

By sector

• Cloud & AI giants — $1.2B, 33% of its AI holdings, 6 companies
• Chips & compute — $701.1M, 20% of its AI holdings, 17 companies
• Power, electrical & cooling — $563.0M, 16% of its AI holdings, 25 companies
• Equipment & test — $354.4M, 10% of its AI holdings, 15 companies
• Interconnect — $294.3M, 8% of its AI holdings, 8 companies
• Servers & systems — $232.0M, 7% of its AI holdings, 10 companies
• AI software — $117.7M, 3% of its AI holdings, 16 companies
• Optics — $56.2M, 2% of its AI holdings, 6 companies
• Memory & storage — $41.0M, 1% of its AI holdings, 5 companies
• Neoclouds & data centers — $11.3M, 0% of its AI holdings, 4 companies

Biggest changes this quarter

• trimmed MaxLinear (MXL): -$56.6M at the quarter's price
• trimmed Advanced Energy Industries (AEIS): -$36.1M at the quarter's price
• added to Meta Platforms (META): +$34.6M at the quarter's price
• trimmed Plexus (PLXS): -$34.1M at the quarter's price
• trimmed SiTime (SITM): -$31.5M at the quarter's price
• added to IBM (IBM): +$30.6M at the quarter's price
• trimmed Applied Materials (AMAT): -$25.8M at the quarter's price
• trimmed MACOM (MTSI): -$24.9M at the quarter's price
• trimmed Semtech (SMTC): -$23.0M at the quarter's price
• sold out of DigitalOcean (DOCN): -$22.7M at the quarter's price

Other holders of this size

• Select Equity Group, L.P. — $3.5B in 19 of these companies
• Investment Management Corp of Ontario — $3.6B in 104 of these companies
• HM PAYSON & CO — $3.5B in 112 of these companies
• SRS Investment Management, LLC — $3.6B in 12 of these companies
• GENERATION INVESTMENT MANAGEMENT LLP — $3.5B in 6 of these companies
• Walleye Trading LLC — $3.6B in 108 of these companies
• Thrive Capital Management, LLC — $3.4B in 2 of these companies
• Orbis Allan Gray Ltd — $3.6B in 10 of these companies

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