BlackRock Tech Fund Lags Q3 Benchmark as Hardware and Chip Picks Weigh

Overview

• BlackRock’s Science and Technology Term Trust reported Q3 2025 returns of 10.1% on market price and 11.6% on NAV, trailing its MSCI custom benchmark’s 15.2%.
• BlackRock said semiconductor allocation and hardware security selection hurt relative performance, while software and internet holdings benefited from an AI‑driven rebound and strong earnings.
• Sandisk was highlighted in the letter as part of the pressured hardware cohort, even as its shares closed at $244.25 on December 29, up 18.94% over one month and 117.69% over three months for a $35.8 billion market value.
• Hedge‑fund interest increased into Q3, with Sandisk held by 61 portfolios, up from 49, and AppLovin in 110 portfolios, up from 109.
• AppLovin, cited as a positive contributor, posted Q3 2025 revenue growth of 68% to about $1.405 billion and closed at $698.82 on December 29 after a 115.80% gain over 52 weeks.