--- title: "JP Morgan Q2 Holdings: Increasing Investment in AI Hardware Chain, Micron Technology (MU.US) and AMD (AMD.US) Become the Largest Buy Targets" type: "News" locale: "en" url: "https://longbridge.com/en/news/295771530.md" description: "JP Morgan released its second-quarter holdings report as of June 30, 2026, with a total market value of $18.1 trillion, a quarter-on-quarter increase of 16%. Among its top ten holdings, NVIDIA ranked first with 450 million shares and a market value of approximately $87.6 billion, followed by Apple and Microsoft in second and third places, respectively. Additionally, JP Morgan significantly adjusted its investment portfolio in Q2, adding 832 new targets and focusing on increasing investments in the AI hardware chain, with Micron Tech and AMD becoming the largest purchases" datetime: "2026-08-13T09:16:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295771530.md) - [en](https://longbridge.com/en/news/295771530.md) - [zh-HK](https://longbridge.com/zh-HK/news/295771530.md) --- # JP Morgan Q2 Holdings: Increasing Investment in AI Hardware Chain, Micron Technology (MU.US) and AMD (AMD.US) Become the Largest Buy Targets According to the disclosure by the U.S. Securities and Exchange Commission (SEC), JP Morgan (JPM.US) has released its holdings report (13F) for the second quarter (Q2) ending June 30, 2026. JP Morgan's total market value of holdings in Q2 was $1.81 trillion, up from $1.56 trillion in the previous quarter, representing a 16% quarter-over-quarter increase. In Q2, JP Morgan added 832 new positions, increased holdings in 3,207 positions, reduced holdings in 3,012 positions, and completely exited 609 positions; the top ten holdings accounted for 24.86% of the total market value. ![image.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260813/1786610245787233.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Among the top ten holdings: NVIDIA (NVDA.US) ranked first, holding 450 million shares with a market value of approximately $87.62 billion, accounting for 4.85% of the portfolio (up from 4.75% in the previous quarter). Apple (AAPL.US) ranked second, holding 229 million shares with a market value of approximately $64.45 billion, accounting for 3.57% of the portfolio (down from 3.67% in the previous quarter). Microsoft (MSFT.US) ranked third, holding 135 million shares with a market value of approximately $49.82 billion, accounting for 2.76% of the portfolio (down from 2.93% in the previous quarter). Google-C (GOOG.US) ranked fourth, holding 138 million shares with a market value of approximately $48.42 billion, accounting for 2.68% of the portfolio (up from 2.10% in the previous quarter). Amazon (AMZN.US) ranked fifth, holding 168 million shares with a market value of approximately $40.34 billion, accounting for 2.23% of the portfolio (up from 2.18% in the previous quarter). Broadcom (AVGO.US), S&P 500 ETF (SPY.US), Google-A (GOOGL.US), Micron Tech (MU.US), and Meta Platforms (META.US) ranked sixth to tenth. ![image.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260813/1786610911450460.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) In terms of changes in holding proportions, the top five bought positions were: Micron Tech (MU.US), AMD (AMD.US), Lam Research (LRCX.US), Google-C (GOOG.US), and Google-A (GOOGL.US). The top five sold positions were: Exxon Mobil (XOM.US), Walmart (WMT.US), S&P 500 ETF put options (SPY.US, PUT), Meta Platforms (META.US), and Intuit (INTU.US) ![image.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260813/1786611323205033.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) JP Morgan's adjustments in the second quarter exhibited the following characteristics: **Increased Investment in Semiconductors and AI Hardware Chain** Micron Technology became the largest added position: the holding ratio surged from 0.33% in the previous quarter to 1.64% (a significant increase of 1.31 percentage points), directly jumping to the ninth position among the top ten holdings, indicating a strong optimism about the recovery of memory chips and the explosive demand for AI. In addition to the largest holding, NVIDIA, which saw its holding ratio continue to rise to 4.85%, AMD and semiconductor equipment giant Lam Research also ranked among the top three in terms of buying ratio. **Structural Differentiation Among Tech Giants** The holding ratios of Google's Class C shares (GOOG) and Class A shares (GOOGL) increased by 0.58% and 0.55%, respectively, with a total increase exceeding 1.1%, both entering the top ten holdings (ranked 4th and 8th). Among the top five reduced positions, Meta's holding ratio decreased by 0.30%, indicating a clear rotation in positions among tech giants by JP Morgan. **Tech Weights Dominate Absolutely** Among the top ten holdings, aside from the S&P 500 ETF (SPY), the remaining nine positions are all occupied by tech and communication service giants. The top five holdings account for a total of 16.09%, showing a very high dependence on the fundamentals of tech stocks. **Reduction in Defensive Positions, Risk Appetite Rebounds** Energy giant ExxonMobil and consumer staples leader Walmart ranked as the top two in selling ratios, reflecting profit-taking or position release in defensive sectors. S&P 500 put options (SPY PUT) ranked third in the reduction list (with a decrease of 0.34%), indicating a decline in institutional demand for hedging against tail risks in the U.S. stock market, with an overall rebound in risk appetite ### Related Stocks - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [AMUU.US](https://longbridge.com/en/quote/AMUU.US.md) - [NVDU.US](https://longbridge.com/en/quote/NVDU.US.md) - [MSFU.US](https://longbridge.com/en/quote/MSFU.US.md) - [NVDL.US](https://longbridge.com/en/quote/NVDL.US.md) - [MUD.US](https://longbridge.com/en/quote/MUD.US.md) - [AMDD.US](https://longbridge.com/en/quote/AMDD.US.md) - [NVDQ.US](https://longbridge.com/en/quote/NVDQ.US.md) - [NVD.US](https://longbridge.com/en/quote/NVD.US.md) - [NVDX.US](https://longbridge.com/en/quote/NVDX.US.md) - [MSFC.US](https://longbridge.com/en/quote/MSFC.US.md) - [NVDG.US](https://longbridge.com/en/quote/NVDG.US.md) - [JPX.US](https://longbridge.com/en/quote/JPX.US.md) - [AMDL.US](https://longbridge.com/en/quote/AMDL.US.md) - [MSFY.US](https://longbridge.com/en/quote/MSFY.US.md) - [AAPE.US](https://longbridge.com/en/quote/AAPE.US.md) - [NVDD.US](https://longbridge.com/en/quote/NVDD.US.md) - [MUZ.US](https://longbridge.com/en/quote/MUZ.US.md) - [MSFO.US](https://longbridge.com/en/quote/MSFO.US.md) - [AMDG.US](https://longbridge.com/en/quote/AMDG.US.md) - [MSFX.US](https://longbridge.com/en/quote/MSFX.US.md) - [NVDY.US](https://longbridge.com/en/quote/NVDY.US.md) - [MUU.US](https://longbridge.com/en/quote/MUU.US.md) - [DAMD.US](https://longbridge.com/en/quote/DAMD.US.md) - [07388.HK](https://longbridge.com/en/quote/07388.HK.md) - [07788.HK](https://longbridge.com/en/quote/07788.HK.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [MULL.US](https://longbridge.com/en/quote/MULL.US.md) - [MUYY.US](https://longbridge.com/en/quote/MUYY.US.md) - [JPMO.US](https://longbridge.com/en/quote/JPMO.US.md) - [NVDB.US](https://longbridge.com/en/quote/NVDB.US.md) - [NVDO.US](https://longbridge.com/en/quote/NVDO.US.md) - [NVDS.US](https://longbridge.com/en/quote/NVDS.US.md) - [NVDW.US](https://longbridge.com/en/quote/NVDW.US.md) - [NVYY.US](https://longbridge.com/en/quote/NVYY.US.md) - [NYYY.US](https://longbridge.com/en/quote/NYYY.US.md) - [DIPS.US](https://longbridge.com/en/quote/DIPS.US.md) - [MAGX.US](https://longbridge.com/en/quote/MAGX.US.md) - [MSFD.US](https://longbridge.com/en/quote/MSFD.US.md) - [MSFL.US](https://longbridge.com/en/quote/MSFL.US.md) - [MSFW.US](https://longbridge.com/en/quote/MSFW.US.md) - [AMDY.US](https://longbridge.com/en/quote/AMDY.US.md) - [AMDW.US](https://longbridge.com/en/quote/AMDW.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [SOXQ.US](https://longbridge.com/en/quote/SOXQ.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [FTXL.US](https://longbridge.com/en/quote/FTXL.US.md) - [09388.HK](https://longbridge.com/en/quote/09388.HK.md) - [SOXS.US](https://longbridge.com/en/quote/SOXS.US.md) - [SSG.US](https://longbridge.com/en/quote/SSG.US.md) - [USD.US](https://longbridge.com/en/quote/USD.US.md) - [SOXW.US](https://longbridge.com/en/quote/SOXW.US.md) - [SOXM.US](https://longbridge.com/en/quote/SOXM.US.md) ## Related News & Research - [Satya Nadella Said Microsoft's Own AI Chips Are Driving Up to 40% Efficiency Gains. 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