Tom Lee's Fundstrat GRNY's latest position change, investing $200 million into SpaceX and Micron: reduce holdings 1. Meta META Clearing the warehouse. Stop hitting enough Granny themes simultaneously after short-term theme rotation; The concentration of social advertising and large-scale technology is relatively high, and the combination should make room for semiconductors, aerospace, and industry. 2. Broadcom AVGO Clearing the warehouse. AI ASICs and network chip logic are still present, but their valuation and crowding have become high. When the style shifts from value quality to growth quality, they are removed, and funds are redirected towards memory, Intel, and data center power. 3. American Express AXP Clearing the warehouse. The elasticity of consumer finance is still acceptable, but it is not as compatible with current factors as the semiconductor cycle, automation, and military themes; The overall weight of the financial sector has significantly decreased. 4. Air Products and Chemicals APD Clearing the warehouse. Industrial gas tends to be defensive and lacks growth elasticity. After switching short themes, the theme score drops below the threshold, and the narrative of hydrogen and industrial gas gives way to copper mines and power equipment. 5. Northrop Grumman NOC Clearing the warehouse. The defense budget logic is still in place, but in the rebalancing, only Lockheed Martin remains as a target that is closer to the theme combination in the military industry, and the Nog has been replaced with LMT to avoid duplication within the defense industry. 6. Texas Pacific Land TPL Clearing the warehouse. Land concessions and oil and water rights are more sensitive to resources and interest rates, while energy rights have been significantly reduced. The land in West Texas is not as integrated as ONEOK and Vesta, a public utility in the oil and gas midstream. 7. PNC Finance PNC Clearing the warehouse. Regional banks benefit from interest rates and credit, but finance needs to give weight to technology and industry, and regional banks do not have enough thematic scores. Increase holdings 8. Space Exploration SPCX Newly purchased $100 million. Starlink, launch and space infrastructure have become large cap stocks that can be bought at once, stepping on energy and cybersecurity, global labor shortages, and strategic communications, making them the most recognizable new stocks in this round. 9. Micron Technology MU Newly purchased $100 million. AI servers have turned HBM and high bandwidth memory into bottlenecks, while Micron has simultaneously hit semiconductor cycles, automation, and style/seasonal factors, resulting in a pullback in stock prices from high levels and a rise in cost-effectiveness. 10. Intel INTC New entry. The return of contract manufacturing, advanced packaging, and government subsidies have reconnected Intel to the three lines of PMI repair, automation, and labor shortage, making it the most direct benchmark in the "Made in America Semiconductor" market. 11. Lockheed Martin LMT New entry. Replacing Nog, defense spending, missile defense, and aerospace are more concentrated in this one; Under geopolitical uncertainty, cash flow and order visibility are more stable than pure growth technology. 12. Weidi Technology VRT New entry. Data center liquid cooling, power supply, and thermal management are the hardest "water, electricity, and coal" in AI infrastructure, while consuming automation and electricity capital expenditures, which are rarer than buying a crowded chip design. 13. Freeport - McMoran FCX New entry. Copper is a common raw material for power grids, electric vehicles, and data centers. Its style is tilted and combined with PMI repair, adding cyclical elasticity to the combination and hedging against pure technology drawdown. 14. MicroStrategy MSTR Continue to hold. The purest Bitcoin balance sheet among listed companies, with digital assets and technology themes still within the framework, remains near the top weight even after a balance of power. 15. Robin Hood Hood Continue to hold. Retail trading, encryption, and prediction market platforms, driven by capital market activity and the wealth behavior of the younger generation, are growth targets left behind in finance. 16. Kenteng Electronics CDNS Continue to hold. Chip and system level design software, the more complex the AI chip, the more inseparable it is from EDA, which belongs to the most stable layer of "selling shovel people". 17. Flying Tower Network ANET Continue to hold. The data center switch is the lifeblood of the AI cluster, and the traffic and 800G upgrade cycle are not yet complete. The story of Ethernet share is complete. 18. ServiceNow NOW Continue to hold. The software layer for enterprise workflow and AI agent implementation, representing automation themes, has a high renewal rate and incomplete synchronization with hardware cycles. 19. Palantir PLTR Continue to hold. Government and business data analysis+AI platform, both security and automation lines are scored, and we will continue to stay under the growth quality style. 20. Oracle Bone Script ORCL Continue to hold. Cloud infrastructure and database are bound to large model training and reasoning contracts, which are most similar to AI infrastructure in traditional software. 21. NVIDIA NVDA Continue to hold. The pricing power of AI computing still exists, and the portfolio will not lose core computing stocks due to crowding. It is just equal rights, so it is not a pressure position like a super large market value. 22. Microsoft MSFT Continue to hold. Cloud, OpenAI ecosystem, and enterprise software subscription are established simultaneously with quality factors and long-term digital themes. 23. Deere DE Continue to hold. The intelligentization of agricultural machinery, precision agriculture, and global labor shortage (where machines replace humans) have led to a shift towards equipment and automation in the industrial sector. 24. Tesla TSLA Continue to hold. Electric vehicles, energy storage, robots and autonomous driving, energy, automation, and labor can all be checked. 25. United Nations Pacific Partnership Continue to hold. The North American railway transportation volume is recovering with industrial activities, and the transportation backbone under the PMI theme has stable cash flow. 26. Goldman Sachs GS Continue to hold. Investment banks and transactions are sensitive to the activity of the capital market, leaving behind a wholesale and capital market oriented company in finance. 27. AMD AMD Continue to hold. GPU and CPU are competing for AI inference market share, forming an internal balance of computing power with Nvidia, and not betting on a single supplier for AI. 28. Bank of New York Mellon BNY Continue to hold. Custody and asset services are affected by market asset inflation, and financial infrastructure attributes are stronger than credit cycles. 29. United Nations Health Organization (UNH) Continue to hold. The scale advantage of medical insurance and managed care, the ballast stone in medical storage, and the quality factor require it. 30. Caterpillar CAT Continue to hold. Engineering machinery, power generation, and mining equipment are simultaneously exposed to infrastructure, energy, and industrial capital expenditures. 31. Philip Morris PM Continue to hold. The global penetration of harm reducing products such as non combustible heating requires a rare growth story in consumer consumption, defense but not death. 32. JPMorgan Chase JPM Continue to hold. In universal banks, both profit quality and transaction revenue are strong, and the financial sector remains the leader even after contraction. 33. Market opening customer COST Continue to hold. Membership based retail can withstand cycles, and both consumption downgrades and upgrades can be caught, serving as a consumption anchor for quality positions. 34. Vista VST Continue to hold. Independent power generators, direct beneficiaries of data center power shortages, are the most growth stocks among public utilities. 35. Netflix NFLX Continue to hold. The pricing power and advertising layer of streaming media, as well as content platforms, still conform to the theme of long-term behavioral change. 36. Alphabet GOOGL Continue to hold. Search for Cash Bull Plus Cloud and Gemini, the AI application distribution portal is still there, and Google will continue to stay in big technology instead of Meta. 37. Eaton ETN Continue to hold. Electrical equipment, power grid, and data center distribution, together with Vertiv and Quanta, form the power chain. 38. CF Industrial CF Continue to hold. The elasticity of materials other than nitrogen fertilizers and industrial chemicals, agricultural products, and industrial gases, PMI, and inflation related commodity warehouses. 39. Apple AAPL Continue to hold. Hardware ecosystem, service profit, and terminal AI entrance are essential for the overall quality of the market. 40. KLAC Continue to hold. Semiconductor process testing equipment, wafer fab capital expenditures, and advanced process yield are essential for high-quality equipment stocks. 41. ONEOK OKE Continue to hold. The natural gas liquid midstream pipeline network has shifted the energy storage capacity from upstream land rights to the midstream that can collect tolls. 42. Monster Beverage MNST Continue to hold. Global distribution of energy drinks, a growth oriented brand in essential consumption. 43. GE Vernova GEV Continue to hold. Orders for gas turbines, power grids, and wind power generation equipment are being driven by data center and grid upgrades. 44. GE Aerospace GE Continue to hold. Aircraft engines and after-sales service, civil aviation recovery combined with national defense, industrial quality warehouse. 45. Amazon AMZN Continue to hold. E-commerce operation leverage combined with AWS cloud, retail and AI infrastructure are a dual engine online. 46. Packaging company PKG Continue to hold. The intersection of paper packaging and industrial demand synchronization, material and cycle repair. 47. TJX Company TJX Continue to hold. Discount retail has seen an increase in its share in consumer stratification, with a more defensive growth in optional consumption. 48. Guangda Service PWR Continue to hold. The upgrading of the power grid, integration of new energy into the grid, and electrical engineering of data centers have long visibility of orders. 49. Lilly LLP Continue to hold. Weight loss drugs and metabolic pipelines remain the strongest growth engines in the global pharmaceutical industry, leaving only this one in the medical growth warehouse.