Investing In Nvidia: Top Mutual Funds To Consider

As of June 2023, funds from Baron, Fidelity, and Invesco were among those with the largest positions in Nvidia stock, which had surged 190% since the start of the year. Nvidia is known for producing graphics processing units, which have been used to train artificially intelligent software such as Open AI's ChatGPT. The company's stock surge can be attributed to optimism about demand for its chips due to the boom in artificial intelligence development. Some of the top mutual funds with Nvidia Corporation (NVDA) include the Vanguard 500 Index Fund, Vanguard Total Stock Market Index Fund, and the Vanguard Mega Cap Growth Index Fund.

Characteristics	Values
Funds with the biggest Nvidia stakes	Baron, Fidelity, and Invesco
Nvidia Portfolio Weight in Fidelity Growth Company	10.48%
Nvidia Portfolio Weight in Dunham Focused Large Cap Growth	8.32%
Nvidia Portfolio Weight in Baron Fifth Avenue Growth Retail	7.71%
Nvidia Portfolio Weight in Spirit of America Large Cap Value	7.63%
Nvidia Portfolio Weight in Fidelity Blue Chip Growth	7.58%
Nvidia Portfolio Weight in Impact Shares NAACP Minority Empwrmt ETF	9.10%
Nvidia Portfolio Weight in Invesco ESG NASDAQ 100 ETF	9.00%
Nvidia Portfolio Weight in WisdomTree U.S. Quality Growth ETF	7.10%
Nvidia Portfolio Weight in Pacer Trendpilot 100 ETF	6.69%
Nvidia Portfolio Weight in Xtrackers S&P 500 Growth ESG ETF	6.61%
Top Institutional Holders	State Street Corporation, Geode Capital Management, LLC, Price (T.Rowe) Associates Inc, JP Morgan Chase & Company, Norges Bank Investment Management, Northern Trust Corporation
Top Mutual Fund Holders	Vanguard Total Stock Market Index Fund, Vanguard 500 Index Fund, SPDR S&P 500 ETF Trust, Fidelity 500 Index Fund, iShares Core S&P 500 ETF, Vanguard Growth Index Fund, Invesco ETF Tr-Invesco QQQ Tr, Series 1 ETF, Vanguard Institutional Index Fund-Institutional Index Fund, Fidelity Growth Company Fund, Fidelity Blue Chip Growth Fund

Top institutional holders

According to Yahoo Finance, the top institutional holders of Nvidia stocks include:

State Street Corporation
Geode Capital Management, LLC
Price (T.Rowe) Associates Inc
JP Morgan Chase & Company
Norges Bank Investment Management
Northern Trust Corporation

Fidelity and Invesco are also among the top mutual fund holders, with Nvidia making up a significant portion of their portfolios.

Top Mutual Fund Holders

According to Morningstar, the following are the top mutual fund holders of Nvidia:

Vanguard Total Stock Market Index Fund
Vanguard 500 Index Fund
SPDR S&P 500 ETF Trust
Fidelity 500 Index Fund
IShares Core S&P 500 ETF
Vanguard Growth Index Fund
Invesco ETF Tr-Invesco QQQ Tr, Series 1 ETF
Vanguard Institutional Index Fund-Institutional Index Fund
Fidelity Growth Company Fund
Fidelity Blue Chip Growth Fund

Other Notable Mutual Funds with Nvidia Holdings

In addition to the top institutional and mutual fund holders, there are several other notable mutual funds that hold Nvidia stocks, including:

LDVCX - AXS Thomson Reuters Venture Capital Return Tracker Fund Class C Shares
SLGAX - SIMT Large Cap Fund Class F
TGVAX - Thornburg International Value Fund - Class A
PGKAX - PGIM Jennison Technology Fund Class A
GEQYX - EQUITY INDEX FUND Institutional
ABRFX - AmericaFirst Monthly Risk-On Risk-Off Fund Class A
MFOCX - Marsico Focus Fund
CHTRX - Invesco Charter Fund Class A
ALVOX - Alger Capital Appreciation Portfolio Class S

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Top mutual fund holders

Vanguard Total Stock Market Index Fund, Vanguard 500 Index Fund, SPDR S&P 500 ETF Trust, Fidelity 500 Index Fund, iShares Core S&P 500 ETF, Vanguard Growth Index Fund, and Invesco ETF Tr-Invesco QQQ Tr, Series 1 ETF are among the top mutual fund holders of NVIDIA Corporation (NVDA) stock. These funds have been able to benefit from the strong performance of NVIDIA, which has seen its stock surge 190% in 2023.

NVIDIA's inclusion in these funds' portfolios has contributed to the funds' performance, particularly in the case of actively managed funds that have a significant weighting in NVIDIA shares. For example, the Fidelity Growth Company Fund, listed as a top mutual fund holder, has a portfolio weight of 10.48% in NVIDIA, making it the second-largest holding after Apple. This fund has benefited from NVIDIA's strong rally and the optimism surrounding its chips used in artificial intelligence development.

Another top mutual fund holder, the Vanguard 500 Index Fund, is a passively managed fund that seeks to replicate the performance of the S&P 500 index. NVIDIA's inclusion in this fund reflects its significant weight in the index, which stood at 2.5% as of June 15, 2023.

Other top mutual fund holders of NVIDIA include the Vanguard Institutional Index Fund-Institutional Index Fund, Fidelity Blue Chip Growth Fund, and Invesco ETF Tr-Invesco QQQ Tr, Series 1 ETF. These funds have likely benefited from NVIDIA's strong performance and its position as a leading provider of graphics processing units used in AI training and other applications.

In summary, these top mutual fund holders have significant exposure to NVIDIA, and their performance is influenced by the company's stock performance and its position as a key player in the AI and semiconductor industries.

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Largest Nvidia weights

As of May 2023, several funds had large stakes in Nvidia, with the following funds having the largest positions:

Actively Managed Funds

Fidelity Growth Company: 10.48% Nvidia portfolio weight, the second-largest holding after Apple.
Dunham Focused Large Cap Growth: 8.32% Nvidia portfolio weight, the largest holding.
Baron Fifth Avenue Growth Retail: 7.71% Nvidia portfolio weight, the third-largest holding.
Spirit of America Large Cap Value: 7.63% Nvidia portfolio weight, the largest holding.
Fidelity Blue Chip Growth: 7.58% Nvidia portfolio weight, the third-largest holding.
Impact Shares NAACP Minority Empowerment ETF: 9.10% Nvidia portfolio weight, the largest holding.
Invesco ESG NASDAQ 100 ETF: 9.00% Nvidia portfolio weight, the third-largest holding.
WisdomTree U.S. Quality Growth ETF: 7.10% Nvidia portfolio weight, the fourth-largest holding.
Pacer Trendpilot 100 ETF: 6.69% Nvidia portfolio weight, the fifth-largest holding.
Xtrackers S&P 500 Growth ESG ETF: 6.61% Nvidia portfolio weight, the third-largest holding.

Actively Managed Funds with Highest Allocations to Nvidia

GQG Partners US Equity: 9.95% Nvidia portfolio weight, the largest holding.
Axiom Concentrated Global Growth Equity: 9.95% Nvidia portfolio weight, the largest holding.
Blue Whale Growth: 9.10% Nvidia portfolio weight.
Baillie Gifford American: 9.10% Nvidia portfolio weight.
T. Rowe Price Global Technology Equity: 9.10% Nvidia portfolio weight.

Investment Trusts with Highest Weightings to Nvidia

Manchester & London: 22% Nvidia portfolio weight, the largest holding.
Martin Currie Global Portfolio: 9.5% Nvidia portfolio weight, the second-largest holding.
Allianz Technology: 8.5% Nvidia portfolio weight, the second-largest holding.
Polar Capital Technology: 8.5% Nvidia portfolio weight, the second-largest holding.
Scottish Mortgage Investment Trust: 6.5% Nvidia portfolio weight.

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Nvidia portfolio weight

As of April 30, 2023, the five active funds with the largest Nvidia portfolio weights are:

Fidelity Growth Company: Nvidia Portfolio Weight: 10.48%. Nvidia is the second-largest holding in this fund after Apple.
Dunham Focused Large Cap Growth: Nvidia Portfolio Weight: 8.32%. Nvidia is the largest holding in this fund.
Baron Fifth Avenue Growth Retail: Nvidia Portfolio Weight: 7.71%. Nvidia is the top holding for this fund, behind Apple and Microsoft.
Spirit of America Large Cap Value: Nvidia Portfolio Weight: 7.63%. Nvidia is the largest holding weight in this fund.
Fidelity Blue Chip Growth: Nvidia Portfolio Weight: 7.58%. Nvidia is the third-largest holding in this fund.

The following index funds also have notable Nvidia portfolio weights:

Impact Shares NAACP Minority Empowerment ETF: Nvidia Portfolio Weight: 9.10%. Nvidia is the largest holding in this fund.
Invesco ESG NASDAQ 100 ETF: Nvidia Portfolio Weight: 9.00%. Nvidia is the third-largest holding in this fund, behind Microsoft and Apple.
WisdomTree U.S. Quality Growth ETF: Nvidia Portfolio Weight: 7.10%. Nvidia is the fourth-largest holding in this fund, behind Apple, Microsoft, and Alphabet.
Pacer Trendpilot 100 ETF: Nvidia Portfolio Weight: 6.69%. Nvidia is the fifth-largest holding in this fund, behind Amazon, Apple, Microsoft, and U.S. Treasury bills.
Xtrackers S&P 500 Growth ESG ETF: Nvidia Portfolio Weight: 6.61%. Nvidia is the third-largest holding in this fund, behind Microsoft and Apple.

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Nvidia stock value

Nvidia's stock value has seen a significant boost in 2023, surging by 190% and reaching a market value of $1 trillion. This dramatic rise comes after a difficult 2022, during which Nvidia's stock lost nearly half of its value due to restrictions on trade with China and lower consumer demand.

The company's first-quarter results for 2023, released on May 24, sparked a big push in its stock value, largely due to optimism about demand for its chips in the booming field of artificial intelligence. Nvidia's graphics processing units (GPUs) have been used to train AI software such as Open AI's ChatGPT, and the company is working to build up its supply of H100 data centre GPUs to meet demand.

Several investment funds have holdings in Nvidia that are multiple times their weight in broad market indexes. For example, Nvidia makes up 2.3% of the Morningstar US Market Index, 2.5% of the Morningstar US Large-Mid Cap Index, and 2.9% of the S&P 500.

Some of the funds with the biggest Nvidia stakes include: