Software and industrial exposure grows as semiconductor weight is reduced
Zebra Technologies became the largest new position, joined by sizable new allocations to Datadog and Charles River Laboratories. The update fully exited Flex Ltd., KLA Corporation, Intel Corporation, Lam Research, Lumentum Holdings Inc., and Comfort Systems USA, Inc., while cutting Micron Technology and adding smaller positions in Arista Networks, 3M, Amphenol, and Fortinet. The new mix is most concentrated in Zebra Technologies and Datadog, with meaningful exposure also in Charles River Laboratories and Arista Networks.
Portfolio changes
| Ticker | Company | Before | After | Change |
|---|---|---|---|---|
| ZBRA | — | — | 31.49% | Added |
| DDOG | — | — | 20.21% | Added |
| CRL | — | — | 17.65% | Added |
| ANET | — | — | 10.11% | Added |
| MMM | — | — | 7.46% | Added |
| APH | — | — | 5.66% | Added |
| FTNT | — | — | 3.75% | Added |
| MU | Micron Technology | 15.76% | 3.68% | Reduced |
| FLEX | — | 20.10% | — | Exited |
| KLAC | — | 19.34% | — | Exited |
| INTC | — | 16.80% | — | Exited |
| LRCX | — | 14.07% | — | Exited |
| LITE | — | 8.89% | — | Exited |
| FIX | — | 5.04% | — | Exited |