Yahoo Finance
Most of the gains have come from the same group of technology andAIstocks that have been driving the market for two years.
One portfolio manager just decided to look somewhere else.
Chris Versace, portfolio manager of theTheStreet Pro Portfolio, initiated two new positions on Aug.
5, adding the Health Care Select Sector SPDR ETF (XLV) and the Robo Global Robotics and Automation Index ETF (ROBO).
The moves follow the portfolio's existing cybersecurity strategy and extend its exposure into two additional end markets Versace says he expects to grow over multiple years.
The Pro Portfolio bought 395 shares of XLV at or near $164.
That stake represents roughly 1% of total portfolio assets.
It also bought 575 shares of ROBO at or near $84.50, coming in at about 0.75% of assets.
Versace gave both new positions an initial rating of Two.
The market has had a strong run recently, and the Two ratings reflect that caution.
Versace said both positions will be built up over time, using pullbacks to add shares rather than buying everything at once.
Related: Vanguard's global ETF fixes the S&P 500's biggest weakness He has done this before.
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| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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