Interesting to see the changes for the January update.Compared...

Interesting to see the changes for the January update.
Compared to the December update:

• Change from 11% cash to 10% cash (anticipation of upside)
• Increase in China holdings from 19% to 21% (resulting from -1% US, and -1% cash)
• Starbucks out of the top 5 holdings
• Microsoft back in the top 5 holdings
• Meaningful increase in Information Tech (Microsoft) and Internet & eCommerce (Ali, Alpha, Netflix, probably Tencent) to 20% and 51% respectively (previously 18% and 49%).

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