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In June, the Bloomberg 1000 Catholic Values Index (B1000) returned -0.87% while the Semiconductor industry group returned 3.05%^[1]. In the quarter, the Semiconductor group surged 52.5% and contributed 70% of the Technology sector return and 45% of the total benchmark return^[1]. Additionally, 21 out of 37 names in the group rose 50% or more and 10 were up 100%-plus^[1]. On April 1, 2026, the Semiconductor group was 13.5% of the benchmark weight^[1]. On June 30^th it was 17.5% of the benchmark, an extraordinary 400 basis point increase in just three months^[1]. To further highlight the extreme nature of the performance, the Semiconductor industry group is now 50% larger than the next biggest sector (Financials) in the benchmark^[1]. Similar periods of extreme outperformance have occurred in other groups/sectors historically (i.e., Energy in the 1970’s and Internet in the 1990’s). In each case, after peak benchmark weight was reached, the group entered a period of secular underperformance. As somebody once said, “enjoy it while it lasts.”

FULL READ HERE -https://www.kocaa.com/news/market-insights/july-2026/

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