Semiconductor exposure narrows as cloud and software weights rise
Amazon.com, NVIDIA, Broadcom Inc., and both Alphabet share classes were the biggest additions, while Micron Technology, Lam Research, Applied Materials, and Advanced Micro Devices Inc. were cut sharply or fully exited. The update also added Regeneron Pharmaceuticals, KLA Corporation, and Texas Instruments, while fully exiting Adobe, Qualcomm, Microsoft, and Meta Platforms. The new allocation is most concentrated in Amazon.com and the large semiconductor and cloud-related names, with much less weight in Micron Technology and the other trimmed chip positions.
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| AMZN | — | — | 16.37% | Added |
| REGN | — | — | 9.00% | Added |
| KLAC | — | — | 3.49% | Added |
| TXN | — | — | 1.97% | Added |
| AVGO | — | 2.87% | 14.12% | Increased |
| NVDA | — | 0.61% | 12.69% | Increased |
| INTU | — | 7.40% | 10.77% | Increased |
| GOOGL | — | 1.26% | 10.45% | Increased |
| GOOG | — | 0.96% | 10.18% | Increased |
| VRTX | — | 2.40% | 3.27% | Increased |
| ASML | — | 7.65% | 3.32% | Reduced |
| AMAT | — | 16.03% | 2.41% | Reduced |
| LRCX | — | 16.85% | 1.66% | Reduced |
| AAPL | — | 2.67% | 0.16% | Reduced |
| MU | — | 20.53% | 0.13% | Reduced |
| AMD | — | 12.73% | — | Exited |
| ADBE | — | 5.86% | — | Exited |
| QCOM | — | 1.20% | — | Exited |
| MSFT | — | 0.75% | — | Exited |
| META | — | 0.22% | — | Exited |