Tech stocks led portfolio gains in Q4 with strong sales and earnings, while some faced growth and guidance challenges.

In the fourth quarter, the information technology sector was a top performer in the portfolio, driven by Coherent's strong optical transceiver sales and Macom Technology Solutions' solid earnings that eased margin concerns. However, e.l.f. Beauty's shares declined due to slower revenue growth, tariff-related margin pressures, and unclear management guidance. Additionally, Itron's stock dropped after warnings about delayed utility infrastructure projects amid macroeconomic uncertainties. Overall, the fund showed strong performance for the quarter and year, reflecting selective gains and challenges within the tech sector.