Semiconductor exposure expands as software and internet weights are cut
Applied Materials became the largest new position, with bigger allocations also added to Advanced Micro Devices Inc., ASML Holding, Intuit, Qualcomm, Broadcom Inc., and NVIDIA. The update fully exited Meta Platforms and reduced Adobe, Alphabet Inc. (Class A), Lam Research, Vertex Pharmaceuticals, Apple, and Microsoft, leaving the portfolio more concentrated in semiconductor-related names such as Micron Technology, Lam Research, Applied Materials, and Advanced Micro Devices Inc.
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| MU | — | 17.80% | 18.55% | Increased |
| AMAT | — | 4.80% | 14.30% | Increased |
| AMD | — | 4.87% | 12.39% | Increased |
| INTU | — | 4.45% | 8.21% | Increased |
| ASML | — | 2.67% | 7.72% | Increased |
| QCOM | — | 0.83% | 3.47% | Increased |
| AVGO | — | 0.16% | 2.77% | Increased |
| NVDA | — | 0.54% | 2.04% | Increased |
| LRCX | — | 17.61% | 15.10% | Reduced |
| ADBE | — | 12.36% | 6.50% | Reduced |
| AAPL | — | 5.59% | 3.17% | Reduced |
| VRTX | — | 5.09% | 2.61% | Reduced |
| GOOGL | — | 5.48% | 1.28% | Reduced |
| GOOG | — | 3.41% | 0.98% | Reduced |
| MSFT | — | 1.68% | 0.66% | Reduced |
| META | — | 12.68% | 0.24% | Reduced |