Tech stocks continue to dominate the major holdings for the ACS Equity – North America, despite political scrutiny for Amazon, Facebook and Alphabet (Google).
According to FE Analytics, the sector returned 16.1% from 1 November 2019, to 31 October 2019.
The top five best performing funds were VanEck – Vectors Morningstar Wide Moat ETF (23.93%), BetaShares – Geared US Equity Currency Hedged (20.94%), BetaShares – NASDAQ 100 ETF (19.91%), Pendal – American Share (19.80%) and State Street Global Advisors (SSGA) – SPDR S&P 500 ETF Trust AUD (18.73%).
The major holdings for BetaShares – Geared US Equity holding were Microsoft (4.3%), Apple (4.2%), Amazon (2.9%), Facebook (1.8%) and JP Morgan (1.6%).
BetaShares’ NASDAQ 100 ETF major holdings were Apple (11.7%), Microsoft (11.3%), Amazon (9.1%), Facebook (4.8%) and Alphabet (4.6%).
Pendal held Microsoft (4.55%), Amazon (3.87%), Alphabet (3.42%), Mastercard (2.72%) and Facebook (2.34%).
SSGA top holdings were Microsoft (4.3%), Apple (3.85%), Amazon (2.92%), Facebook (1.73%) and Berkshire Hathaway (1.65%).
In its factsheet, Pendal noted being underweight in Apple held back its performance, but being overweight in consumer-dominated areas, particularly Target, Dollar General, Altice and Fiserv helped in the quarter.
“[Apple] reported quarterly financial results that were above expectations, primarily driven by strong growth in its service and wearable revenues, which offset weaker than-expected iPhone revenues,” Pendal said.
Top five best performing funds in the ACS Equity – North America sector from 1 November, 2019, to 31 October, 2019.
