Top 10 and Geographical Holdings

Allianz Technology Trust's portfolio remains highly concentrated in North American tech giants.

What the company is saying

Allianz Technology Trust PLC provides a detailed snapshot of its portfolio as at 28 August 2026, emphasizing transparency in its top 10 holdings and regional allocations. The trust highlights Nvidia Corp as its largest holding at £236,791,186 (9.52%), followed by Microsoft Corp at £187,468,276 (7.53%). The announcement details the exact value and percentage of each top holding, as well as the total gross assets of £2,488,329,489. The company presents a precise breakdown of geographic exposure, with 90.02% in North America and minimal allocations elsewhere. Cash holdings are also specified at £23,371,849 (0.95%). The tone is factual and strictly informational, with no forward-looking statements or commentary on performance or strategy. Kirsten Salt is named as Company Secretary, but no executive commentary or qualitative analysis is provided.

What the data suggests

The disclosed figures show a portfolio dominated by large-cap US technology stocks, with Nvidia and Microsoft alone accounting for over 17% of assets. The top 10 holdings collectively represent a substantial portion of the trust's total gross assets of £2,488,329,489. North American exposure is extremely high at 90.02%, while the Far East and Pacific region accounts for 8.53%, and Europe ex UK and the UK together make up just 0.5%. Cash is a minor component at 0.95%. The total assets less current liabilities are £2,481,368,405, and the total stock value is £2,457,996,556, or 99.05% of assets. The regional breakdown within the Far East and Pacific shows significant allocation to Taiwan (£148,951,320, 6.00%), with smaller positions in South Korea (£41,327,145, 1.67%) and Japan (£10,032,254, 0.40%). The data is comprehensive for the reporting date but does not include comparative or performance metrics, so no trend or trajectory can be inferred.

Analysis

The announcement is a routine portfolio disclosure, listing Allianz Technology Trust PLC's top 10 holdings, asset values, and regional allocations as at 28 August 2026. All claims are factual, realised, and supported by specific numerical data. There are no forward-looking statements, projections, or promotional language present. No capital outlay, strategic change, or future benefit is discussed, and the tone is strictly informational. The data is comprehensive for the reporting date, with no attempt to inflate the trust's performance or prospects. There is no gap between narrative and evidence, as the announcement is purely descriptive.

Risk flags

• ●The portfolio's 90.02% exposure to North America, particularly US tech stocks, creates significant concentration risk. Any sector or regional downturn could disproportionately impact the trust's value.
• ●Minimal diversification outside North America, with only 8.53% in the Far East and Pacific and negligible exposure to Europe and the UK, limits the portfolio's resilience to global market shifts.
• ●The absence of performance, trend, or comparative data restricts investors' ability to assess whether the portfolio's composition has improved or deteriorated over time, reducing transparency into management's effectiveness.

Bottom line

This update confirms Allianz Technology Trust PLC's strong bias toward North American technology leaders, with Nvidia and Microsoft making up a combined 17.05% of assets. The trust's total gross assets stand at £2,488,329,489, with 99.05% invested in equities and only 0.95% held as cash. Regional diversification is limited, with almost no exposure to Europe or the UK. The announcement is strictly factual, offering no insight into performance, changes in allocation, or management's outlook. Investors receive a clear picture of current holdings but lack context on how the portfolio is evolving or performing. The most important takeaway is the high concentration risk in US tech, which could amplify both gains and losses depending on sector trends. For a more actionable view, investors would need comparative data or commentary on recent changes and performance.

Announcement summary

(ASX:ATT) Allianz Technology Trust PLC reported its top 10 holdings as at 28 August 2026. Nvidia Corp was the largest holding with a market value of £236,791,186, representing 9.52% of the portfolio. Microsoft Corp was the second largest holding at £187,468,276 or 7.53%. Other top holdings included Alphabet Inc Cl A (£181,158,967, 7.28%), Broadcom Inc (£149,239,750, 6.00%), Taiwan Semiconductor SP ADR (£148,951,320, 5.99%), Apple Inc (£131,736,963, 5.29%), Micron Technology Inc (£86,975,601, 3.50%), Palantir Technologies Inc A (£72,015,638, 2.89%), Lam Research Corp (£70,376,180, 2.83%), and ServiceNow Inc (£65,321,809, 2.63%). The trust's total gross assets were £2,488,329,489. The geographical distribution as at 28 August 2026 was: North America £2,233,940,344 (90.02%), Far East and Pacific £211,613,254 (8.53%), Europe ex UK £11,329,828 (0.46%), United Kingdom £1,113,130 (0.04%), and cash £23,371,849 (0.95%). The total assets less current liabilities were £2,481,368,405. The total stock value was £2,457,996,556, representing 99.05% of assets. Within the Far East and Pacific region, Japan accounted for £10,032,254 (0.40%), South Korea £41,327,145 (1.67%), Taiwan £148,951,320 (6.00%), and Taiwan (Province of China) £11,302,535 (0.46%). Kirsten Salt is named as Company Secretary. The report was dated 14 September 2026.

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