AI and pharma exposure rise as software and chip weightings are trimmed
Apple, Vertex Pharmaceuticals, Qualcomm, Alphabet Inc. (Class C), and Lam Research were the biggest additions this week, while Intuit and Applied Materials were the largest reductions. Adobe, Meta Platforms, Micron Technology, Broadcom Inc., Advanced Micro Devices Inc., Microsoft, and ASML Holding were also trimmed, and no positions were fully exited. The new allocation is most exposed to Apple, Vertex Pharmaceuticals, Qualcomm, and the two Alphabet share classes, with semiconductor names still a major part of the mix.
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| AAPL | — | 1.16% | 13.33% | Increased |
| VRTX | — | 1.25% | 11.33% | Increased |
| QCOM | — | 2.86% | 9.45% | Increased |
| LRCX | — | 3.71% | 8.69% | Increased |
| GOOG | — | 2.80% | 8.47% | Increased |
| GOOGL | — | 2.85% | 6.70% | Increased |
| NVDA | — | 0.70% | 2.55% | Increased |
| MU | — | 14.64% | 11.21% | Reduced |
| AMAT | — | 18.25% | 10.16% | Reduced |
| AMD | — | 8.03% | 5.79% | Reduced |
| INTU | — | 21.98% | 4.43% | Reduced |
| MSFT | — | 4.28% | 3.27% | Reduced |
| ADBE | — | 7.79% | 2.23% | Reduced |
| ASML | — | 2.45% | 2.05% | Reduced |
| META | — | 3.73% | 0.23% | Reduced |
| AVGO | — | 3.53% | 0.12% | Reduced |