The Top 200 notably decreased its Health Care and Financials nominal and relative weights while increasing Energy, Industrials and Tech. Health Care’s decrease within the Top 200 contrasts sharply with its more marked increase expressed in the first paragraph showing that, while managers increased their Health Care exposure overall (which is what paragraph one measures), they didn’t all huddle in the same names (which is what the Top 200 measures). Part of this is due to the large opportunity set Health Care offers particularly within BioPharma. Industrials remains the largest Overweight, now by far, followed by Consumer Discretionary despite a small nominal weight decrease. Real Estate, Financials and Comm Services remain the most Underweight despite with Energy shifting from Underweight to slightly Overweight.