State of Alaska, Department of Revenue

State of Alaska, Department of Revenue declares $4.4B in 163 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 43.7% of its $10.1B 13F portfolio. Largest positions: NVIDIA (0.01% of the company) and Apple (0.01% of the company). Over time: $4.4B in 163 of these companies for Q2 2026, against $1.8B in 118 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $32.1M and sold $187.5M of these stocks, at the quarter's prices: a net sale of $155.4M; 2 new positions.

Performance of its AI picks

The AI-stock portfolio State of Alaska, Department of Revenue declared for Q2 2026 (Form 13F), held unchanged, returned +3.7% in Q3 2026 (SMH -7.1%), ranked 895 of 1,783 active managers. Over the last 12 months, quarter after quarter: +29.9% (SMH +87.2%), ranked 581 of 1,359 active managers. Over three years, quarter after quarter: +144.9% (SMH +325.8%), ranked 424 of 783 active managers. Over five years, quarter after quarter: +155.5% (SMH +389.8%), ranked 286 of 535 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) — $544.7M: 2.7M shares, 0.01% of the company, 5.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  2. Apple (AAPL) — $519.6M: 1.8M shares, 0.01% of the company, 5.2% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  3. Alphabet (GOOGL) — $463.1M: 1.3M shares, 0.01% of the company, 4.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  4. Microsoft (MSFT) — $340.3M: 912,272 shares, 0.01% of the company, 3.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  5. Amazon (AMZN) — $269.4M: 1.1M shares, 0.01% of the company, 2.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  6. Broadcom (AVGO) — $210.5M: 557,125 shares, 0.01% of the company, 2.1% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  7. Micron (MU) — $186.4M: 161,494 shares, 0.01% of the company, 1.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  8. Meta Platforms (META) — $153.3M: 272,235 shares, 0.01% of the company, 1.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  9. AMD (AMD) — $119.6M: 205,801 shares, 0.01% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  10. Intel (INTC) — $81.7M: 585,164 shares, 0.01% of the company, 0.81% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  11. Applied Materials (AMAT) — $62.7M: 86,706 shares, 0.01% of the company, 0.62% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  12. Equinix (EQIX) — $61.3M: 58,816 shares, 0.06% of the company, 0.61% of its portfolio (added this quarter); held since Q4 2019 or earlier
  13. Cisco (CSCO) — $59.0M: 502,429 shares, 0.01% of the company, 0.59% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  14. Lam Research (LRCX) — $53.1M: 122,533 shares, 0.01% of the company, 0.53% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  15. Sandisk (SNDK) — $51.4M: 22,617 shares, 0.02% of the company, 0.51% of its portfolio (trimmed this quarter); held since Q1 2025

By sector

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