Today I reduced my semi-ETF by 20% to bring the weighting from 15% to 10%.
No single position has a total weighting (ETF+single stock) above 5%, which is also my threshold. I always want to stay below 5% exposure.
My forward P/E of the portfolio has also fallen to 23, which is below my target of <25, despite the high tech allocation.
This means that my tech sector weighting is now in line with my world ETF $QDEV (+0.47%)which contains around 40-49% tech. I'm happy with that. I'm just still tech-bullish.
I have also reduced the USA region to 63%, almost identical to my world ETF (61%), and thus within my target range of 60-69%.
My favorites in the semi area remain anyway $TSM (+1.1%) and $HY9H (-1.03%) which I bought cheaply and undervalued as individual positions.
$NVDA (+1.53%) is and remains king, but I do not believe that the annual return will remain above 10% in the next few years, for this the market cap would have to grow by 400 billion every year, which I think would be difficult. $AVGO (-0.12%) currently has a P/E 5x greater than forward P/E, which shows that analysts are extremely bullish on future earnings. I am also bullish, but not as strongly, so the stock has already run very hot.
My top 10 holdings with 32% total weighting are currently:
4.95% $TSM (+1.1%) Taiwan Semi
4.65% $NVDA (+1.53%) NVIDIA
4.55% $GOOG (-0.14%) Google
4.47% $AVGO (-0.12%) Broadcom
2.85% $MSFT (-0.82%) Microsoft
2.63% $META (-1.71%) Meta
2.37% $AAPL (+0.3%) Apple
2.04% $ASML (+0.68%) Asml
1.95% $HY9H (-1.03%) SK Hynix
1.91% $JPM (+0.54%) JPMorgan
