Replaceable component carriers (40) are adapted to be freely floating in belt apertures (74) and have alignment features (160), such as conical holes (170), mated to features (162), such as tapered pins (184), in processing stations to temporarily hold a carrier (40) and its components (10), such as resistors, in a fixed position during various processes, such as termination. The carriers (40) include a rigid substructure (50) and a more elastic coating (60) to provide receiving holes (46) that can be adapted to hold particular components (10). The carriers (40) can be replaced without removing the belt (72), whenever differently shaped holes (46) are desired or become too worn to reliably handle components (10), thereby reducing damage risk, replacement cost, and operational down time of the belt (72).