Another part of the tablet boom are memory companies like Micron Technologies and SanDisk that make the solid state drives that are used in light-weight tablet devices will be in a good place to benefit from the consumer demand for the products, says Mosesmann.

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The fund holdings of Texas Instruments, Broadcom, Omnivision Technologies and Micron Technology account for almost 21% of the fund and should perform well as the demand for the iPhone grows.

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Major customers include Himax Technologies and Micron Technology.

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Aptina, the foundational CMOS imaging company, began within Micron Technology in 2001 with acquisitions of early CMOS imaging companies Photobit and then Avago Technologies' image sensor business.

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The M100 did not jump whole-hog into tech, but dipped their toes in the water and established new positions in two technology names--one in bellwether memory chipmaker Micron Technology and another more substantial one in Israeli information-technology services company Ness Technologies.

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