Portfolio Analysis (as at 30/04/2018)

The entire portfolio as at 30 April is published in the annual report and the entire portfolio as at 31 October is published in the half year report.

Total Assets & Gearing

Total Net Assets (£m) 1552
AIC Gearing Ratio (%)* 0
AIC Net Cash Ratio (%)* 4.4
*Gearing calculations are exclusive of current year Revenue/Loss

Ordinary Shares

Share Price (p) 1148
NAV per Share (p) 1159.69
Premium -
Discount -1.01%

Geographic Exposure

Geographic Exposure (%)
US & Canada 70.3
Asia Pac (ex-Japan) 14.1
Japan 4.8
Europe (ex UK) 4.5
UK 1.5
Middle East & Africa 0.9
Latin America 0.2
Cash 3.7

Market Capitalisation Exposure

Market Capitalisation Exposure (%)
Large Cap (>$10bn) 76.7
Mid Cap ($1bn - $10bn) 22.0
Small Cap (<$1bn) 1.3
Other/Unclassified 0


Total Number of Holdings 112
Top 15 Holdings (%)
Microsoft 7.9
Alphabet 7.8
Apple 6.4
Facebook 5.5
Tencent 3.6
Samsung Electronics 3.0
Alibaba Group Holding 2.7
Amazon 2.5
Adobe Systems 2.1
Intel 2.1
TSMC 1.8
Salesforce.com 1.6
Texas Instruments 1.3
ASML Holding 1.2
Total 50.9

Sector Exposure

Sector Exposure (%)
Internet Software & Services 27.8
Software 27.3
Semiconductors & Semiconductor Equipment 15.8
Technology Hardware, Storage & Peripherals 9.9
Electronic Equipment, Instruments & Components 3.4
Internet & Direct Marketing Retail 3.3
Communications Equipment 2.3
IT Services 1.9
Healthcare Technology 0.9
Machinery 0.9
Aerospace & Defense 0.8
Auto Components 0.3
Chemicals 0.3
Diversified Consumer Services 0.3
Professional Services 0.3
Electrical Equipment 0.2
Healthcare Equipment & Supplies 0.2
Household Durables 0.2
Automobiles 0.1
Index 0.1
Unclassified 0.0
Cash 3.7

Google % includes a combination of Class A and Class C Google shares

Source: Polar Capital

Fact Sheet

Click the link below to download this month's fact sheet:

April 2018


Full Portfolio

Click the link below to download the latest full portfolio:

January 2018


Monthly Commentary

With the pace of innovation as fast as we can remember and with new technologies such as artificial intelligence (AI) and machine learning (ML) gaining traction, disruption is only likely to intensify over coming years. This is…

Ben Rogoff
Technology Director and Lead Manager

Read more

Important Legal Information

Launched in 1996, Polar Capital Technology Trust plc (“PCT”) has grown to become a leading European investor with a multi-cycle track record. Managed by a team of dedicated technology specialists, the PCT aims to maximise long-term capital growth by investing in a diversified portfolio of technology companies from around the world. The managers’ core belief in rigorous fundamental analysis, and being unconstrained by not following a benchmark, enables PCT to deliver global equity market outperformance through exposure to a universe of over 3,000 companies.

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