Portfolio manager explains why he is underweight U.S. mega-cap tech stocks

Is there a trigger point that you’d look at because you’re you’re making the case just now that, you know, there is still that growth for these big tech names, even if they were to have a little bit of haircut. Would you be looking to get greater exposure in these names if we see them pulling back just a little bit more or is there, you know, a little trigger point that you’re looking at? Yeah. So for us, I mean, we are underweight big mega cap tech in general, which if you look at the weighting in in the S&P for example, right, it’s not that difficult to be underweight given, given how large a sector it is. So we don’t construct portfolios in particular with the benchmark in mind, but we do invest in companies within there like a Microsoft, like an Alphabet and we do invest in TSMC as we’ve chatted about previously as well. If, if we don’t have a specific point valuation wise where we would enter in NVIDIA, for example. But it is a company and a space in general where we continue to do a lot of work. I mean, if you are of the view that earnings will continue to grow at this clip, then it isn’t very expensive, right? But in our mind, you still have good earnings growth, but the market is likely ahead of itself and we think that this is a healthy, a healthy pullback and a healthy rotation.