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Trader Lebenthal, up 30% YTD, buys chip stock

Jim Lebenthal
Scott Mlyn | CNBC

Jim Lebenthal, who's up 30 percent this year in his CNBC PRO model portfolio, added shares of a semiconductor company as one of his top holdings for the competition.

"This is a play on the pending iPhone 7 launch," Lebenthal wrote in an email, predicting that his new stock pick will be one of the main beneficiaries of Apple's newest mobile device.