Semiconductor exposure expands as Qualcomm takes a larger role
Qualcomm became the dominant position after a large increase, while Alphabet Inc. (Class A), Alphabet Inc. (Class C), Intel Corporation, Meta Platforms, and Applied Materials were all reduced. PDD Holdings was the only other addition, and no positions were fully exited. The portfolio is now most exposed to Qualcomm, with remaining allocations still spread across Intel Corporation, Alphabet Inc. (Class A), and Alphabet Inc. (Class C).
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| QCOM | — | 15.33% | 42.94% | Increased |
| PDD | — | 9.67% | 10.23% | Increased |
| INTC | Intel Corporation | 23.08% | 15.00% | Reduced |
| GOOGL | Alphabet Inc. (Class A) | 19.08% | 10.72% | Reduced |
| GOOG | Alphabet Inc. (Class C) | 18.98% | 10.66% | Reduced |
| AMAT | — | 8.07% | 7.15% | Reduced |
| META | Meta Platforms | 5.78% | 3.29% | Reduced |