Bank of America analysts examined how heavily U.S. fund managers are invested in semiconductor and electronic design automation stocks in the S&P 500.

Based on data from the end of April, the relative weighting of semiconductor stocks are 0.90x — down considerably year-to-date (1.01x in December 2024).

Nvidia Corp (NASDAQ:NVDA) maintains the broadest ownership. Roughly 73% of fund managers own the stock. Positions grew consistently throughout the past year (+67bps Q/Q, +518bps Y/Y).

Also Read: Nvidia’s New Challenge: US Lawmaker Wants Company To Track Its Chips To Avoid Smuggling In China

The relative weighting of 1.05x remains below the top 16 owned infotech/comm services peers (1.11x median) despite 3x+ faster sales growth prospects per consensus (30% CAGR versus 10% peers).

Within semiconductors, the survey found:

Russell 1000

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