"Another example is Veeco Instruments, Inc. (VECO), a global capital-equipment supplier that designs and builds processing systems used to manufacture high-tech microelectronic devices including semiconductors, photonics, display technologies and power supplies. These devices are integral to LED lighting, solar equipment, metrology instruments, communication networks, data storage, advanced computing and mobile gadgets, and are used for emerging applications like artificial intelligence, machine learning and 5G. We purchased Veeco in the second quarter, and while the stock hasn't yet been a strong performer for us—likely due to temporary supply-chain challenges—we think the company is reasonably priced with strong fundamentals. Additionally, Veeco's relatively low market capitalization (about $1.1 billion) puts it below the radar of most investors."