An industry analysis by Bank of America finds Nvidia (NVDA, Financial) remained the most actively owned semiconductor stock among active U.S. fund managers as ownership rises to 72% as of December 2024, up from 70% at the end of September.
Traversing fund manager ownership, Broadcom ( AVGO) with 54.6%, Applied Materials ( AMAT), Advanced Micro Devices (AMD), Qualcomm (QCOM), Texas Instruments (TXN), behind Nvidia.
Under the guidance of Vivek Arya, Bank of America analysts noted that although trust in Nvidia's long-term development is still high, the stock's portfolio weighting has somewhat altered to 1.01 times, from 0.99 times in September but remains below the 1.03 times recorded in December 2023.
Nvidia (+2%), Broadcom (+2.4%), ON Semiconductor ( ON) (+0.4%), and Cadence Design Systems ( CDNS+) (+0.2%). Quarter-wide ownership rises Applied Materials (-4.4%), Lam Research ( LRCX), (-4%), Qualcomm (-3%), AMD (-2.8%), and Intel (-2.6%), experienced the greatest declines consecutively.
The ongoing dominance of Nvidia underlines its appeal with fund managers projecting the long-term possibilities of artificial intelligence and high-performance computing in the semiconductor sector.
Nvidia Tops Semiconductor Rankings as Fund Managers Bet Big on AI-Led Growth
Nvidia tops U.S. fund manager holdings as AI and high-performance computing drive long-term semiconductor confidence
3 days ago
Summary
- Nvidia solidifies dominance among fund managers, leading semiconductor stocks with rising ownership and AI-driven appeal.
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I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure
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