Chip exposure eases as internet and social weights rise
Applied Materials remained the largest position and was increased further, while Meta Platforms, Alphabet Inc. (Class A), Alphabet Inc. (Class C), and PDD Holdings were also added to. Intel Corporation and Qualcomm were both reduced sharply. The resulting portfolio is still most exposed to semiconductor-related names, led by Applied Materials, with meaningful weights also in PDD Holdings and the Alphabet positions.
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| AMAT | — | 31.94% | 35.49% | Increased |
| PDD | — | 18.98% | 21.36% | Increased |
| META | Meta Platforms | 6.64% | 11.88% | Increased |
| GOOGL | Alphabet Inc. (Class A) | 5.79% | 8.90% | Increased |
| GOOG | Alphabet Inc. (Class C) | 4.56% | 7.55% | Increased |
| INTC | Intel Corporation | 19.13% | 7.95% | Reduced |
| QCOM | — | 12.96% | 6.87% | Reduced |