The past week was marked by a stronger technology focus and further portfolio adjustments within the UMBRELLA Strategy. Intel and Alphabet were newly added to the portfolio, while the position in MercadoLibre was reduced.
At the same time, Rheinmetall and Revolution Medicines traded particularly close to their defined stop-loss zones and were therefore under close observation.
Following the adjustments, the UMBRELLA Strategy comprises 12 positions. The equity allocation stands at approximately 99.7%, with cash at around 0.3%.
Healthcare remains the largest portfolio focus
Revolution Medicines remained the largest position with a weighting of approximately 17%. Together with Johnson & Johnson, Eli Lilly, and Bayer, the company formed the core of the strategy’s healthcare exposure.
Revolution Medicines was among the positions under particularly close observation during the past week, as the stock approached its defined stop-loss zone. No portfolio adjustment was made.
The company also drew attention following further regulatory progress for RASONQUE™. This includes the FDA’s Breakthrough Therapy designation for a combination therapy as first-line treatment for metastatic pancreatic cancer.
Intel added to the UMBRELLA Strategy
One of the week’s most significant portfolio changes was the addition of Intel with an initial weighting of approximately 3%.
The position reflects the turnaround potential of Intel as well as the company’s strategic importance for semiconductor manufacturing. Intel is among the few Western semiconductor companies that combine chip design, fabrication, and advanced packaging technologies.
Government initiatives to expand domestic semiconductor capacity in the U.S. and Europe could support Intel’s long-term strategic position.
Alphabet added to the UMBRELLA Strategy
Alphabet was also newly added with an initial weighting of approximately 4%.
The addition was based on the company’s fundamental strength, positive analyst assessment, and constructive technical picture. Alphabet expands the strategy’s exposure to artificial intelligence, cloud infrastructure, and digital platforms.
Intel and Micron strengthen semiconductor exposure
Following the addition of Intel, the UMBRELLA Strategy now holds two targeted semiconductor positions.
Intel and Micron Technology cover different segments of the semiconductor value chain. Intel represents the strategic expansion of Western chip production, while Micron Technology specializes in memory solutions and benefits from growing demand for AI infrastructure and high-bandwidth memory.
MercadoLibre position reduced
The position in MercadoLibre was reduced from approximately 8.5% to around 4.5% due to continued weakness in the broader technical trend.
The company remains part of the UMBRELLA Strategy and provides exposure to e-commerce and digital financial services in Latin America.
SpaceX and Palantir remain core growth positions
Beyond healthcare and semiconductors, the portfolio combines several structural growth themes.
SpaceX and Palantir Technologies remain important technology and growth positions within the UMBRELLA Strategy. SpaceX provides exposure to commercial space infrastructure, while Palantir Technologies represents the portfolio’s focus on artificial intelligence, data analytics, and software platforms.
Together with Alphabet, Intel, and Micron Technology, these positions have strengthened the portfolio’s focus on advanced technologies.
Rheinmetall remains under close observation
Rheinmetall traded particularly close to its defined stop-loss zone during the week and was therefore under close observation.
The company remains part of the strategy’s selective exposure to the European defense sector. From a risk management perspective, however, the stock’s technical development is particularly relevant.
Current positioning of the UMBRELLA Strategy
Following the recent adjustments, the UMBRELLA Strategy comprises 12 positions.
Healthcare remains the largest allocation, complemented by selected exposures to artificial intelligence, semiconductors, advanced technologies, digital commerce, and European defense.
Source: wikifolio, September 21, 2026.
Outlook: Technology and risk management in focus
The UMBRELLA Strategy enters the new week with 12 positions and a cash allocation of approximately 0.3%.
Following the addition of Intel and Alphabet, the portfolio has expanded its exposure to artificial intelligence, semiconductors, and advanced technologies. Healthcare nevertheless remains the strategy’s largest allocation.
The focus is on the interplay between fundamental developments and technical signals. Rheinmetall and Revolution Medicines are particularly relevant from a risk management perspective, while the development of the newly added positions Intel and Alphabet is also being closely monitored.
