Vanguard Information Technology ETF Holds 44.3% in Nvidia, Apple and Microsoft with 0.09% Fee
Vanguard Information Technology ETF holds 300+ US tech stocks at a 0.09% expense ratio, with top-three allocations in Nvidia (16.6%), Apple (15.3%) and Microsoft (12.4%). It trades at a 39x earnings multiple and may benefit from one or two Fed rate cuts expected in 2026, potentially easing borrowing costs.
1. Geneos Wealth Management Significantly Reduces Stake
In the third quarter, Geneos Wealth Management Inc. cut its position in the Vanguard Information Technology ETF by 70.8%, selling 2,692 shares and retaining 1,109 shares. The reduction lowered its holdings to a notional value of $828,000, according to the firm’s latest 13F filing with the SEC. This marked one of the steepest percentage declines among the ETF’s institutional shareholders during the period.
2. JPMorgan Chase & Co. and Key Institutions Increase Exposure
While Geneos trimmed back, JPMorgan Chase & Co. expanded its position by 1.1%, acquiring an additional 66,303 shares to reach 6,192,082 shares valued at approximately $4.11 billion. Concurrently, Laurel Wealth Advisors LLC executed a dramatic build-out, boosting its stake by over 210,000% to 1,487,074 shares, worth about $986 million. Kingstone Capital Partners Texas LLC initiated a new position valued at $773 million, reflecting continued institutional appetite for broad technology exposure.
3. Other Major Investors Reinforce Their Allocations
Raymond James Financial Inc. added 51,543 shares to its existing holding, raising its total to 839,978 shares (approx. $557 million), while PGIM Custom Harvest LLC increased its stake by 48.7%, purchasing 255,787 additional shares and bringing its total to 781,415 shares valued at $518 million. These moves underscore a broader trend of selective accumulation among diversified asset managers.
4. Market Cap and Index Tracking Provide Context
The ETF commands a market capitalization exceeding $114 billion and seeks to mirror the MSCI US Investable Market Information Technology 25/50 Index. It spans large, mid and small-cap U.S. information technology companies, covering software and services, hardware and equipment, and semiconductor sectors. Its broad sector allocation continues to attract institutions seeking diversified technology exposure without single-company concentration risk.