We recently added Target to the Global Growth portfolio at a 2% weight. The stock has pulled back from its high of $260 in late 2021 and is now trading around $110. Target is not a typical growth company per se as it is a mature retailer in a competitive market. We believe, however, there is the potential for substantial cyclical recovery over the next 12-18 months. As part of our risk control process, we monitor the overall characteristics of the portfolio to ensure it continues to maintain a strong secular growth profile. Read