Semiconductor exposure expands as Broadcom and Qualcomm are cut
Micron Technology and Lam Research became the largest positions after major increases, while Broadcom Inc., Qualcomm, Intuit, and NVIDIA were cut sharply. Adobe, Meta Platforms, Applied Materials, and Alphabet Inc. (Class A) were also added to, and ASML Holding and Alphabet Inc. (Class C) were increased modestly. The portfolio is now most exposed to semiconductor-related names, with a smaller but still meaningful tilt to Meta Platforms and Adobe.
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| MU | — | 5.75% | 21.36% | Increased |
| LRCX | — | 5.08% | 19.88% | Increased |
| META | — | 6.65% | 12.11% | Increased |
| ADBE | — | 2.53% | 9.14% | Increased |
| AMAT | — | 2.25% | 5.43% | Increased |
| GOOGL | — | 2.28% | 4.96% | Increased |
| GOOG | — | 2.58% | 3.10% | Increased |
| ASML | — | 1.97% | 2.76% | Increased |
| AMD | — | 7.98% | 5.59% | Reduced |
| VRTX | — | 5.23% | 4.44% | Reduced |
| INTU | — | 13.79% | 3.39% | Reduced |
| MSFT | — | 2.70% | 1.50% | Reduced |
| QCOM | — | 12.54% | 0.84% | Reduced |
| NVDA | — | 8.61% | 0.53% | Reduced |
| AVGO | — | 15.25% | 0.15% | Reduced |
| AAPL | — | 4.81% | 4.81% | Held |