As of the end of September, the top 10 holdings included Robinhood Markets (5.3%), Nvidia (5.2%), Snowflake (4.1%), Oracle (4.0%), Take-Two, Netflix, Tesla, Meta Platforms, TSMC, and Broadcom. Sector weights were led by software (36.6%), internet (23.0%) and semiconductors (21.1%). Performance for A (dist) – USD to Sept 30 shows a performance of +32.1% over one year and annualised +33.8% over three years, outpacing the Russell 1000 Equal Weight Technology Index on those horizons.
JP Morgan Asset Management’s Joseph Wilson is clear about where he hunts for returns in technology. “We invest across all market caps and all sectors,” he says, adding that the team applies “a tech lens” to spot leaders even when industry classifications say otherwise.
In practice, that means the JPMorgan Funds – US Technology Fund ranges beyond pure-play software to own stocks in semiconductors, internet platforms and select non-tech sectors where technology is on the cutting edge. The fund, managed by Wilson and Eric Ghernati, aims for long-term capital growth from US tech-related equities.
