Following Nvidia’s hugely positive fourth quarter results, the Association of Investment Companies (AIC) has published a list of the investment trusts with exposure to the company which is now the third largest US company by market value.
According to the AIC, there are 13 investment trusts with holdings in Nvidia, nearly all of which are trading on a discount except for JPMorgan Global Growth & Income which is trading at a premium of 1% and JPMorgan American which is trading at par.
Manchester & London is the investment trust with the largest portfolio weighting in Nvidia (22%). This is followed by Martin Currie Global Portfolio with 9.5% of its portfolio in Nvidia, Polar Capital Technology with 8.4%, Allianz Technology with 7.1% and Canadian General Investments with 6.7%.
Scottish Mortgage Investment Trust, with total assets of £13.8 billion, has 5.1% of its portfolio in Nvidia.
The Global sector dominates the list, with seven of these 13 investment trusts coming from that sector. This is followed by the North American sector with three investment trusts and the Technology & Technology Innovation sector with two investment trusts.
Investment trusts with exposure to Nvidia
| Investment trust | AIC sector | Portfolio weighting % | Discount / premium % |
| Manchester & London | Global | 22.0 | -15 |
| Martin Currie Global Portfolio | Global | 9.5 | -2 |
| Polar Capital Technology | Technology & Technology Innovation | 8.4 | -11 |
| Allianz Technology Trust | Technology & Technology Innovation | 7.1 | -12 |
| Canadian General Investments | North America | 6.7 | -39 |
| Scottish Mortgage Investment Trust | Global | 5.1 | -15 |
| Baillie Gifford US Growth | North America | 4.6 | -15 |
| JPMorgan Global Growth & Income | Global Equity Income | 3.5 | 1 |
| JPMorgan American | North America | 3.3 | 0 |
| Alliance Trust | Global | 2.2 | -6 |
| F&C Investment Trust | Global | 1.3 | -9 |
| Witan Investment Trust | Global | 1.2 | -10 |
| Monks Investment Trust | Global | 0.7 | -13 |
Source: theaic.co.uk / Morningstar (discount/premium as at 21/02/24).
Annabel Brodie-Smith, Communications Director of the Association of Investment Companies (AIC), said: “Investors looking for exposure to Nvidia should consider these investment trusts. Currently 11 of these trusts are trading on a discount, with eight on a double-digit discount. Of course, investors need to do their own research. There is no guarantee that future performance of a single company will be strong, and all of these investment trusts hold a mix of companies within their portfolios.”
