The fund almost tripled its stake in Cisco Systems ( CSCO) to 15 million shares in the second quarter, worth $234 million, making it its fifth-largest holding at 4.3% of the fund. Cisco has been struggling of late, and its shares are down 21% this year. Given its size and reputation it has a competitive advantage in its core markets of network routing and switching devices. But it faces tougher competition in its core markets and its management's efforts at diversifying its product line has resulted in a lack of focus, analysts say. Cisco has a market value of $86 billion and also holds $27 billion in cash of its balance sheet. Its shares are down 31% over the past 12 months and its shares have a three-year average annual loss of 10%.