VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P.

VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. declares $3.2B in 35 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 28.0% of its $11.3B 13F portfolio. Largest positions: NVIDIA (0.01% of the company) and Alphabet (0.01% of the company). Over time: $3.2B in 35 of these companies for Q2 2026, against $900.4M in 22 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $384.7M and sold $276.5M of these stocks, at the quarter's prices: a net purchase of $108.2M; 6 new positions and 4 sold out.

Performance of its AI picks

The AI-stock portfolio VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. declared for Q2 2026 (Form 13F), held unchanged, returned -6.6% in Q3 2026 (SMH -7.1%), ranked 1576 of 1,783 active managers. Over the last 12 months, quarter after quarter: +35.1% (SMH +87.2%), ranked 373 of 1,359 active managers. Over three years, quarter after quarter: +161.9% (SMH +325.8%), ranked 222 of 783 active managers. Over five years, quarter after quarter: +179.9% (SMH +389.8%), ranked 144 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) — $336.5M: 1.7M shares, 0.01% of the company, 3.0% of its portfolio (trimmed this quarter); held since Q1 2021
2. Alphabet (GOOGL) — $284.8M: 797,067 shares, 0.01% of the company, 2.5% of its portfolio (trimmed this quarter); held since Q1 2021
3. TSMC (TSM) — $230.9M: 483,590 shares, 0.01% of the company, 2.0% of its portfolio (trimmed this quarter); held since Q4 2024
4. Apple (AAPL) — $209.8M: 724,984 shares, 0.01% of the company, 1.9% of its portfolio (trimmed this quarter); held since Q4 2025
5. Monolithic Power (MPWR) — $200.4M: 144,974 shares, 0.29% of the company, 1.8% of its portfolio (added this quarter); held since Q3 2021
6. Cummins (CMI) — $184.0M: 257,923 shares, 0.19% of the company, 1.6% of its portfolio (trimmed this quarter); held since Q1 2020
7. Amazon (AMZN) — $166.5M: 698,557 shares, 0.01% of the company, 1.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
8. Eaton (ETN) — $164.4M: 385,910 shares, 0.10% of the company, 1.5% of its portfolio (added this quarter); held since Q2 2025
9. Sanmina (SANM) — $138.4M: 546,725 shares, 1.0% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q3 2025
10. Applied Materials (AMAT) — $125.6M: 173,675 shares, 0.02% of the company, 1.1% of its portfolio (trimmed this quarter); held since Q4 2025
11. Synopsys (SNPS) — $104.1M: 233,382 shares, 0.12% of the company, 0.92% of its portfolio (trimmed this quarter); held since Q4 2025
12. Marvell (MRVL) — $103.8M: 348,304 shares, 0.04% of the company, 0.92% of its portfolio (trimmed this quarter); held since Q3 2023
13. Hubbell (HUBB) — $98.6M: 188,507 shares, 0.36% of the company, 0.87% of its portfolio (added this quarter); held since Q4 2019 or earlier
14. Qnity Electronics (Q) — $87.5M: 535,885 shares, 0.26% of the company, 0.77% of its portfolio (new position this quarter)
15. Sandisk (SNDK) — $86.6M: 38,093 shares, 0.03% of the company, 0.77% of its portfolio (trimmed this quarter); held since Q4 2025

By sector

• Chips & compute — $931.1M, 29% of its AI holdings, 6 companies
• Power, electrical & cooling — $795.4M, 25% of its AI holdings, 12 companies
• Cloud & AI giants — $731.4M, 23% of its AI holdings, 5 companies
• Equipment & test — $247.9M, 8% of its AI holdings, 3 companies
• Servers & systems — $139.8M, 4% of its AI holdings, 2 companies
• Optics — $128.7M, 4% of its AI holdings, 3 companies
• AI software — $104.1M, 3% of its AI holdings, 1 company
• Memory & storage — $86.6M, 3% of its AI holdings, 1 company
• Interconnect — $1.9M, 0% of its AI holdings, 1 company
• Neoclouds & data centers — $56,798.00, 0% of its AI holdings, 1 company

Biggest changes this quarter

• opened a position in Qnity Electronics (Q): +$87.5M at the quarter's price
• opened a position in Southern Company (SO): +$71.3M at the quarter's price
• trimmed Sanmina (SANM): -$54.6M at the quarter's price
• opened a position in nVent (NVT): +$53.5M at the quarter's price
• trimmed Sandisk (SNDK): -$43.6M at the quarter's price
• opened a position in Vicor (VICR): +$42.7M at the quarter's price
• opened a position in Generac (GNRC): +$38.4M at the quarter's price
• trimmed Marvell (MRVL): -$36.8M at the quarter's price
• opened a position in Exelon (EXC): +$29.1M at the quarter's price
• trimmed Applied Materials (AMAT): -$20.1M at the quarter's price

Other holders of this size

• UNITED CAPITAL FINANCIAL ADVISORS, LLC — $3.2B in 135 of these companies
• FERGUSON WELLMAN CAPITAL MANAGEMENT, INC — $3.2B in 57 of these companies
• Private Advisor Group, LLC — $3.2B in 158 of these companies
• E Fund Management Co., Ltd. — $3.2B in 96 of these companies
• Boston Trust Walden Corp — $3.1B in 56 of these companies
• PINNACLE ASSOCIATES LTD — $3.2B in 120 of these companies
• Trivest Advisors Ltd — $3.1B in 12 of these companies
• Alphinity Investment Management Pty Ltd — $3.2B in 12 of these companies

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