Semiconductor and mega-cap tech exposure expands as several holdings exit

Intel Corporation, Micron Technology, Tesla, Advanced Micro Devices Inc., and T-Mobile US were the largest additions, each moved up to the same top weight. The update fully exited PayPal, Regeneron Pharmaceuticals, Intuit, Roper Technologies, and Paccar, while also removing several other existing positions including Baker Hughes, Comcast, Cisco Systems, Meta Platforms, and NVIDIA. The resulting portfolio is concentrated in a smaller set of equal-weight holdings, with the heaviest exposure tilted toward semiconductors and large technology names.