U.S. Growth Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, U.S. Growth Fund held 49 positions with $3.39B in net assets. Its ten largest holdings made up 53.4% of the fund. The JSGAX share class costs 0.96% a year. Over the 12 months to May 2026, JSGAX returned 27.9%, with dividends reinvested. In 2026 Q2 it added 15 new positions and exited 14.
To seek long-term capital appreciation.
The fund invests in U.S.-tied equity securities selected for high quality free cash flow margins, capital returns, and revenue growth that exceed minimum thresholds, ranked by quality, growth, valuation, capital returns, and earnings revisions; the manager seeks to outperform the Russell 1000 Growth Index. Because the fund is non-diversified, it may invest in a smaller number of issuers and concentrate more assets in individual securities than a diversified fund. Active trading may result in higher transaction costs and capital gains tax liabilities than a buy-and-hold approach.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
12.59% | $427.03M | 2.1M | $200.09 | |
GOOGLAlphabet Inc. | 9.01% | $305.54M | 855.0K | $357.37 |
AAPLApple Inc. | 5.18% | $175.81M | 607.6K | $289.36 |
AVGOBroadcom Inc. | 4.76% | $161.41M | 427.3K | $377.75 |
KLACKLA Corporation | 4.45% | $150.94M | 500.3K | $301.71 |
3.93% | $133.40M | 111.2K | $1,199.43 | |
TSLATesla Inc. | 3.65% | $123.89M | 294.6K | $420.60 |
3.55% | $120.26M | 207.0K | $580.91 | |
3.18% | $107.89M | 93.5K | $1,154.29 | |
3.05% | $103.35M | 277.1K | $373.02 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 49 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 99.61% |
| Cash & short-term | 0.33% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified. The blend is as of 2026Q1, one or more quarters before the direct holdings (2026Q2).
By sector
- Information Technology
- 50.2%
- Communication Services
- 11.4%
- Consumer Discretionary
- 9.2%
- Health Care
- 9.1%
- 9 other sectors
- 20.2%
- Information Technology
- 50.2%
- Communication Services
- 11.4%
- Consumer Discretionary
- 9.2%
- Health Care
- 9.1%
- Industrials
- 4.9%
- Financials
- 3.8%
- Consumer Staples
- 3.2%
- Real Estate
- 2.8%
- International
- 2.1%
- Energy
- 1.2%
- Other
- 1.0%
- Materials
- 1.0%
- Cash
- 0.2%
How it has done
JSGAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 17.01%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 7 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.96% | +27.93% | +101.85% | +102.38% | -10.87% | |
| 0.71% | +28.30% | +103.43% | +104.98% | -10.83% | |
| 0.60% | +28.40% | +103.96% | +106.01% | -10.85% | |
| 1.71% | +27.00% | +97.34% | +94.91% | -11.00% | |
| 1.10% | +27.77% | +101.07% | +101.00% | -10.92% | |
| 0.85% | +28.09% | +102.60% | +103.84% | -10.89% | |
| 0.60% | +28.43% | +103.97% | +106.00% | -10.84% |
These classes hold the same portfolio, so the 11.09pp spread over 5 years is the cost difference between them — roughly 2.22pp a year — not a difference in what they own.
Fees & fund details
U.S. Growth Fund is an actively managed U.S. equity fund. 35% of JSGAX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 97% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Non-diversified
- Expense ratio, by class
- 0.60% – 1.71%· JSGAX 0.96%
- Portfolio turnover
- 80.00% a year · as of 2025 Q3
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
15 new· the largest 8
14 exited· the largest 8
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — JSGAX, QQQ and the fund in my 401(k)?”
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