Semiconductor exposure expands as Qualcomm takes a larger role
Qualcomm became the largest position after a sharp increase, with PDD Holdings and Intel Corporation also added to larger weights. Alphabet Inc. (Class A) and Alphabet Inc. (Class C) were both cut back, Meta Platforms was reduced, and Applied Materials was trimmed slightly. The portfolio is now most exposed to Qualcomm, with meaningful weight still in Intel Corporation and PDD Holdings.
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| QCOM | — | 7.14% | 32.03% | Increased |
| INTC | Intel Corporation | 25.93% | 28.30% | Increased |
| PDD | — | 1.15% | 9.05% | Increased |
| GOOGL | Alphabet Inc. (Class A) | 21.47% | 9.96% | Reduced |
| AMAT | — | 9.86% | 8.39% | Reduced |
| GOOG | Alphabet Inc. (Class C) | 21.89% | 8.11% | Reduced |
| META | Meta Platforms | 12.56% | 4.15% | Reduced |