Quick rotation into high-liquidity large caps is proving profitable for momentum-driven portfolios. "A door closed, and there's a door or window open, and I just haven't found where that is yet, " she said. Investments are subject to the risks associated with investing in mutual funds and exchange-traded funds, which may result in loss of principal. T. Rowe Price does not guarantee the results of our investment management, or that the objectives of the funds or portfolios will be met. Q2 earnings season is proving decisive for self directed investing enthusiasts, as high-beta growth stocks in AI and semiconductors outperform industrials. With Nvidia surpassing $1,200 per share, self-managed portfolios heavy in chipmakers are currently up over 12% for the month.