I’m a big fan of US-listed tech stocks such as Apple, Alphabet (Google), and Nvidia. The world today is in the middle of a tech revolution (that could last for decades) and it’s these kinds of companies that are benefitting. If one is looking for exposure to these kinds of stocks, the Polar Capital Technology Trust (LSE: PCT) could be worth considering. A FTSE 100 investment trust, this is invested in over 100 different tech businesses.

One for growth investors

The business is a technology-focused investment trust that’s managed by British investment firm Polar Capital. Launched in 1996, it has been around for nearly 30 years now.

Over the last few decades, the trust has established a strong long-term performance track record. For example, over the 10-year period to the end of 2024, its net asset value (NAV) increased 586%.

Exposure to high-growth industries

Today, the trust is invested in some brilliant companies. At the end of January, for example, the top 10 holdings included the likes of Nvidia, Microsoft, Apple, Amazon, and Alphabet.

With names like this in the portfolio, the trust offers investors exposure to a range of growth industries including artificial intelligence (AI), cloud computing, data centres, semiconductors, online shopping, and self-driving cars. So, it could be a good way to play the digital revolution.

Trading at a discount

One thing that stands out to me today is that the trust trades at a substantial discount to its NAV. Currently, the discount is about 7%. What this means is that investors are essentially buying a range of world-class tech stocks for a 7% discount. That’s an attractive deal, in my view.

Be aware of the fees

It isn’t perfect though. And one drawback is the fees, which are higher than some other similar products. One worth highlighting in particular is the performance fee. If the trust beats its benchmark, the managers can charge an extra amount (10% over the benchmark).

The risks

It’s also worth pointing out that this trust can be volatile at times. That’s because technology stocks themselves tend to be volatile.

These stocks often trade at higher valuations because the underlying companies are expected to generate strong growth in the future. And if there are doubts about future growth, they can swing around wildly.

We saw this recently with Nvidia. When Chinese AI app DeepSeek emerged and investors became concerned that demand for Nvidia’s AI chips may decline, the stock fell more than 20% in the blink of an eye (it has since recovered most of the decline).

Given the trust’s niche focus, and its level of volatility, I wouldn’t go ‘all in’ on it. But I think it’s worth considering for a diversified investment portfolio today as the world is only going to become more digital.