Semiconductor weight eases as internet and search exposure expand
PDD Holdings, Alphabet Inc. (Class A), and Alphabet Inc. (Class C) became the biggest new allocations, while Micron Technology and NVIDIA were cut sharply. The update also added to Broadcom Inc. and Applied Materials, while reducing Advanced Micro Devices Inc., Vertex Pharmaceuticals, Lam Research, Intuitive Surgical, and Regeneron Pharmaceuticals. The resulting portfolio is more exposed to PDD Holdings, Alphabet, and Applied Materials, with semiconductor names still a major part of the mix.
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| PDD | — | 5.51% | 17.58% | Increased |
| AMAT | — | 14.64% | 17.45% | Increased |
| GOOGL | — | 0.68% | 12.44% | Increased |
| GOOG | — | 0.81% | 10.85% | Increased |
| AVGO | — | 0.40% | 4.91% | Increased |
| ISRG | — | 11.32% | 10.47% | Reduced |
| MU | — | 26.19% | 10.16% | Reduced |
| REGN | — | 7.98% | 7.71% | Reduced |
| VRTX | — | 8.63% | 4.13% | Reduced |
| LRCX | — | 3.75% | 2.12% | Reduced |
| NVDA | — | 12.46% | 1.86% | Reduced |
| AMD | — | 7.62% | 0.30% | Reduced |