INTEL CORP

Key Holdings

The portfolio is dominated by three major positions, each representing a strategic bet on the future of transportation and automation:

1. Mobileye, Inc. (MBLY) - $706.00M (68.25%): This is the portfolio's cornerstone position. Intel initiated a new stake of 50 million shares, making it by far the largest holding. Given Intel's history as the former parent company of Mobileye (spun off in 2022), this position likely represents a strategic re-accumulation of shares or a specific corporate investment rather than purely passive portfolio management. It signals a renewed emphasis on the autonomous driving and driver-assist technology sector.
2. Joby Aviation Inc. - $255.28M (24.68%): Joby Aviation, a developer of electric vertical takeoff and landing (eVTOL) aircraft, remains the second-largest holding. The firm currently holds 15.82 million shares. This position aligns with the broader theme of next-generation mobility, complementing the Mobileye stake by targeting urban aerial transport.
3. ZEEKR Intelligent Technology Holding Limited - $73.18M (7.07%): Rounding out the top three is Zeekr, a premium Chinese electric vehicle (EV) brand. With 2.40 million shares held, this position provides exposure to the high-performance EV market and smart vehicle integration, further reinforcing the portfolio's concentration on intelligent transportation.