M & L Capital Management portfolio

What changed this quarter

27 positions with a change (10 new, 9 added to, 4 trimmed, 4 sold); also, 1 entered through an IPO. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Broadcom−70%fewer sharesReduced
  18.0% → 3.9%
• Taiwan Semiconductor Manufacturing+8.7 ppof portfolioNew
  — → 8.7%
• Advanced Micro Devices+3,332%more sharesIncreased
  0.3% → 7.4%
• Amazon.com+5.9 ppof portfolioNew
  — → 5.9%
• NVIDIA+5.6 ppof portfolioNew
  — → 5.6%
• ARM Holdings+5.6 ppof portfolioNew
  — → 5.6%
• Coherent+185%more sharesIncreased
  4.6% → 7.3%
• Lumentum Holdings−45%fewer sharesReduced
  12.1% → 5.8%
• Vertiv Holdings+203%more sharesIncreased
  3.4% → 5.6%
• Micron Technology+30%more sharesIncreased
  13.0% → 12.0%
• Ciena+60%more sharesIncreased
  8.3% → 7.3%
• Alphabet−2.7 ppof portfolioSold out
  3.5% → —

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Micron TechnologyMU12.0%
• Taiwan Semiconductor ManufacturingTSM8.7%
• Advanced Micro DevicesAMD7.4%
• CienaCIEN7.3%
• CoherentCOHR7.3%
• Marvell TechnologyMRVL6.9%
• Vaneck ETF TrustSMH6.9%
• Amazon.comAMZN5.9%
• Lumentum HoldingsLITE5.8%
• Vertiv HoldingsVRT5.6%
• NVIDIANVDA5.6%
• ARM HoldingsARM5.6%
• BroadcomAVGO3.9%
• Astera LabsALAB3.7%
• Credo Technology Group HoldingCRDO2.1%
• Arista NetworksANET1.4%
• SK hynixSKHY1.3%
• Lam ResearchLRCX1.0%
• Amkor TechnologyAMKR0.9%
• CelesticaCLS0.4%
• Applied OptoelectronicsAAOI0.3%
• SiTimeSITMunder 0.1%
• Intuitive SurgicalISRGunder 0.1%
• AXON EnterpriseAXONunder 0.1%