Semiconductor exposure broadens as Qualcomm weight is cut
Applied Materials became the largest new allocation, while Qualcomm was cut sharply from the dominant position to a much smaller but still leading weight. The update also added to PDD Holdings, Intel Corporation, and both Alphabet Inc. share classes, while reducing Meta Platforms. The portfolio is now less concentrated in Qualcomm and more spread across semiconductor, internet, and consumer names.
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| AMAT | — | 9.52% | 26.35% | Increased |
| PDD | — | 13.65% | 21.43% | Increased |
| INTC | Intel Corporation | 2.63% | 6.82% | Increased |
| GOOGL | Alphabet Inc. (Class A) | 0.33% | 4.63% | Increased |
| GOOG | Alphabet Inc. (Class C) | 0.73% | 3.04% | Increased |
| QCOM | — | 61.08% | 29.30% | Reduced |
| META | Meta Platforms | 12.05% | 8.43% | Reduced |