U.S. active funds have not outperformed the market this year, and underweight NVIDIA is the key. Although NVIDIA is favored on Wall Street, many large investors are not overly bullish on it. Vivek Arya, a global research analyst at Bank of America, and his team recently conducted a quarterly review of semiconductor stock holdings in active funds. The results show that although NVIDIA is the largest semiconductor stock held in active funds, with a holding ratio of about 70%...