JPMorgan US Smaller Companies Investment Trust plc
The Company aims to provide investors with capital growth by investing in US smaller companies that have a sustainable financial competitive advantage. As the emphasis is on capital growth rather than income, shareholders should expect the dividend to vary from year to year. The Company focuses on owning equity stakes in businesses that the manager believes trade at a discount to intrinsic value, with strong management teams. The Company has the ability to use borrowing to gear the portfolio within a range of 5% net cash to 15% of net assets. Gearing may magnify gains or losses experienced by the Company.
Cumulative performance
| Period | Trust |
|---|---|
| 1M | +2.90% |
| 3M | +3.40% |
| YTD | +6.50% |
| 1Y | +10.70% |
Annualised performance
| Period | Trust, a year at a time |
|---|---|
| 3Y | +7.04% |
| 5Y | +0.25% |
| 10Y | +9.88% |
Top holdings
| # | Holding | Weight | |
|---|---|---|---|
| 1 | Novanta | 1.80% | |
| 2 | Element Solutions | 1.70% | |
| 3 | Modine Manufacturing | 1.60% | |
| 4 | Ryman Hospitality Properties | 1.50% | |
| 5 | Loar Holdings | 1.50% | |
| 6 | MACOM Technology Solutions | 1.50% | |
| 7 | Hayward | 1.50% | |
| 8 | MSA Safety | 1.40% | |
| 9 | SM Energy | 1.40% | |
| 10 | Fabrinet | 1.40% |
Portfolio breakdown
| Industrials | 27.40% | |
| Financials | 20.60% | |
| Technology | 12.20% | |
| Health Care | 7.80% | |
| Consumer Discretionary | 7.80% | |
| Basic Materials | 6.90% | |
| Energy | 5.10% | |
| Real Estate | 4.50% | |
| Consumer Staples | 3.20% | |
| Utilities | 1.90% | |
| Cash | 1.60% | |
| Telecommunications | 1.00% |
Key facts
- Stock market ticker
- JUSC
- ISIN
- GB00BJL5F346
- Benchmark
- The Russell 2000 Index
- Currency
- GBP
- Domiciled in
- United Kingdom
- Launched
- 2 Apr 1962
- Management fee
- 0.70%
- Dividends paid
- Annual
What the manager said
The JPM US Smaller Companies Investment Trust seeks to invest in high quality US Smaller Companies at a reasonable valuation, particularly focusing on those companies with strong earnings and cash flow characteristics. Since mid-2025, we have seen a strong rally in performance from more thematic stocks and unprofitable companies, which, given the quality-orientation of our portfolio management approach, we would not tend to invest in. This has led to relative underperformance. Over the long-term, we maintain conviction in our approach to identify high quality companies that should deliver strong risk-adjusted returns over a cycle.
Source factsheets
| Date | Published by the trust |
|---|---|
| 31 May 2026 | View original factsheet ↗ |