ServiceNow shares fell 49.83% over the past year as TCW’s Large Cap Growth Fund trailed the Russell 1000 Growth Index by 1.97 percentage points in Q1.
TCW’s Concentrated Large Cap Growth Fund posted an 11.75% net loss in Q1 2026, underperforming the Russell 1000 Growth Index’s 9.78% decline. The fund attributed volatility to geopolitical tensions, private credit concerns, and AI-related uncertainty, but views market broadening as a positive signal.
ServiceNow, a top holding, closed at $101.83 on May 19, 2026, with a one-month return of -1.20% and a 52-week loss of 49.83%. The company’s market capitalization stands at $105.02 billion. Despite weak relative performance, the fund maintained its position, citing long-term confidence in the portfolio’s value.
The fund’s underperformance was partly driven by informational technology sector challenges, though it remains constructive on ServiceNow’s growth prospects.