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Ameriprise Financial's 11,224-position portfolio has the lowest top-5 concentration of any mega-filer at 14.8%. Netflix shares surged 943%, confirming an institutional consensus trade across $2.7 trillion in combined AUM. Salesforce built 82%.
Britain's largest asset manager holds NVIDIA at $32B and Apple at $30B in an unusually close #1/#2 race. AUM crashed $102B between Q3 and Q4 2024, then recovered. Netflix shares surged 916% — the fourth mega-filer to make this trade in Q4.
The second Capital Group division to file a massive Netflix build in Q4 2025. Capital Research Global also doubled its Applied Materials position, holds $26B in Eli Lilly, and opened a $1B position in MicroStrategy — the Bitcoin proxy.
Canada's largest bank filed a U.S. 13F with 29,036 positions, three S&P 500 ETFs in its top 5, $12.5B of its own stock (RY), and $11.9B of competitor Toronto-Dominion. Netflix shares surged 893% in one quarter.
While most mega-filers lead with NVIDIA, Capital International Investors bets biggest on Broadcom at 7.7% of portfolio. They also increased Netflix shares by 710% in Q4 2025, added $3.4B in TotalEnergies, and exited Disney entirely.
BSN Capital Partners reported a compact 24-position portfolio with NVIDIA at 21.8% and top-5 concentration above 61%.
Banque Transatlantique SA reported a $4.13T portfolio with almost half of capital in five stocks led by Microsoft and NVIDIA.
GROUPAMA ASSET MANAGMENT's Q4 filing shows a dramatic AUM jump versus Q3 and a broad position reset centered on U.S. mega-cap tech.
Employees Provident Fund Board reported a $13.6T Q4 portfolio with NVIDIA and Microsoft at the top and nearly half of capital concentrated in its top 10 holdings.
Franklin Resources — the parent of Franklin Templeton, one of the world's oldest fund families — files $408B with 14,263 positions. Its Q4 2025 13F has Microsoft over NVIDIA at #1, a massive $4B Citigroup bet, Cisco built 18%, and Exxon in the top 10. This is active management that refuses to follow the momentum crowd.
DFA — the firm that brought academic factor research to real portfolios — files 13,709 positions without a single ETF or index fund. Its Q4 2025 13F reveals a 17.9% top-5 concentration with Berkshire Hathaway, Exxon, and Visa in the top 15 — the anti-momentum portfolio built on Nobel Prize-winning research.
While Bank of America cut SPY by 55% and Goldman Sachs slashed it by $11B, Wells Fargo went the other direction — increasing its SPY stake by 75.5% to $19.7B. The 4th-largest U.S. bank also made SPY its #1 holding, cut small caps 21%, and loaded $11.4B into QQQ.
Bank of New York Mellon's $568B Q4 2025 13F has more positions than any other institutional filer we track — 33,186. Founded by Alexander Hamilton in 1784, the custody bank's portfolio is less an investment thesis and more a census of American equity ownership.
Wellington Management is the largest pure active manager in our database — no ETFs, no index funds. Its Q4 2025 13F reveals a $571B portfolio where healthcare rivals tech for attention: Lilly at $14.4B, Merck at $9.1B, and a Meta trim of 18% that goes against the passive consensus.
Schwab Investment Management's Q4 2025 13F reveals $644B across 3,592 positions — the fewest holdings of any top-10 filer by AUM. The portfolio's distinctive feature: $24B in Schwab-branded ETFs (FNDX, FNDF, SCHR) sitting alongside the usual mega-cap tech. This is Main Street's money, managed.
Invesco runs the $300B QQQ ETF — the world's most famous Nasdaq tracker. But the company's own $652B 13F filing is far more diversified than its flagship product, with Tesla +14%, Cisco surging into the top 15, and a Netflix position that exploded 836% in shares.
Bank of America's Q4 2025 13F reveals the last uncovered megabank: a $1.375 trillion portfolio with 28,105 positions, a 12.9% top-5 concentration that makes it the most diversified major bank filing, and a massive Vanguard ETF allocation that signals where Merrill Lynch clients actually park their money.
UBS Group's Q4 2025 13F reveals the flattest portfolio in institutional finance: $617B across 8,980 positions with a 12.5% top-5 concentration. The Swiss wealth giant holds $6.8B of its own shares, keeps gold in its top 15, and cut SPY from #1 to #4.
Capital World Investors' Q4 2025 13F reveals a $735B portfolio with only 574 positions — and Broadcom at #1 ($42.7B), ahead of NVIDIA. Philip Morris ranks #5 at $21.2B while Amazon barely cracks the top 15. This is what conviction looks like at scale.
Northern Trust's Q4 2025 13F shows $784B across 4,441 positions with a top-10 that mirrors the S&P 500 almost exactly. When a $1.5T custody bank files, it's less about conviction and more about where America's pension and institutional money actually sits.