An industry analysis by Bank of America finds Nvidia (NASDAQ:NVDA) 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.

This article first appeared on GuruFocus.