Semiconductor exposure eases as internet and telecom weights rise
PDD Holdings became the largest position, with bigger allocations also going to Alphabet Inc. (Class C), Alphabet Inc. (Class A), and Qualcomm. Applied Materials was reduced, Intel Corporation was nearly exited, and Meta Platforms was trimmed, leaving the portfolio more concentrated in PDD Holdings and the Alphabet positions.
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| PDD | — | 19.47% | 29.82% | Increased |
| GOOG | Alphabet Inc. (Class C) | 7.12% | 13.36% | Increased |
| GOOGL | Alphabet Inc. (Class A) | 8.49% | 12.18% | Increased |
| QCOM | — | 5.75% | 7.41% | Increased |
| AMAT | — | 40.45% | 29.07% | Reduced |
| META | Meta Platforms | 10.99% | 7.93% | Reduced |
| INTC | Intel Corporation | 7.75% | 0.23% | Reduced |