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Victory Capital kept mega-cap tech on top in Q4 2025, but the sharper signal was in the secondary moves: large increases in Netflix, Constellation Energy, TSMC and new positions like IQVIA. The next filing will show whether that diversification continues.
Raymond James used Q4 2025 to keep broad ETF exposure high through VOO, AGG, SPY and IEFA while also adding to sector sleeves such as XLK and XLE. The next filing will show whether that balanced ETF-heavy structure remains the preferred setup.
Principal’s Q4 2025 filing looked slightly weaker on headline AUM, but the internal rotation was more revealing: Brookfield became a top-ten position, Netflix surged, and the fund cut back in parts of real estate. The next filing will show whether that shift keeps going.
Nuveen’s Q4 2025 filing stayed large-cap and AI-heavy at the top, but the more revealing addition was a sizable fixed-income sleeve through NXUS and NHYB. The next filing will show whether those credit and bond ETFs remain central or fade back out.
Janus Henderson kept Nvidia and Microsoft on top in Q4 2025, but the more interesting signal was underneath: new exposure to Intuitive Surgical, Protagonist Therapeutics and other growth-healthcare names. The next filing will show whether that rotation keeps building.
Fisher’s Q4 2025 filing was still packed with mega-cap tech, but the bigger tell was a giant Treasury and investment-grade corporate bond sleeve built through IEF and VCIT. The next filing will show whether that duration bet was tactical or structural.
Dodge & Cox’s Q4 2025 filing barely moved on headline AUM, but the underlying changes were more interesting: fresh positions in Brookfield, TransUnion and PDD inside a still-diversified value book. The next filing will show whether those adds were conviction moves or just incremental reshuffling.
CalPERS used Q4 2025 to keep broad-market exposure high through VOO while still adding to Nvidia, Microsoft, Alphabet and Broadcom. The next filing will show whether the pension giant keeps that simple beta-heavy structure or rotates again.
AQR’s Q4 2025 filing kept expanding, with AUM rising to $190.63B, 69 new names, and a dramatic Bristol Myers build inside an already broad book. The next filing will show whether the quant giant keeps pressing this expansion or starts normalizing the roster again.
American Century’s Q4 2025 filing kept Nvidia and Microsoft on top, but the more revealing changes were the big Netflix increase, fresh utility and industrial additions, and a continued AI-heavy core. The next filing will show whether those side bets keep scaling.
AllianceBernstein kept Nvidia, Microsoft and Amazon on top in Q4 2025, but new exposure to Intuitive Surgical and aggressive increases in Netflix and ServiceNow made the next filing more interesting than another mega-cap recap. Here is what to watch.
Berkshire ended Q4 2025 with a $274.16B U.S. equity portfolio, steady Apple and American Express stakes, and a fresh set of Verisign, Liberty and New York Times positions. The next filing will show whether those adds were the start of a new sleeve or just tactical cleanup.
Stanley Druckenmiller's Q4 2025 filing added XLF, EWZ and RSP in size while keeping Natera on top. Ahead of the May 15, 2026 deadline, the question is whether that macro overlay expands or fades.
Coatue's Q4 2025 13F shows fresh top positions in TSM, Microsoft, Amazon, LRCX and AMAT, plus a notable CoreWeave exit. Q1 2026 will reveal whether that AI infrastructure rebuild sticks.
Appaloosa's Q4 2025 filing still shows Alibaba as the top disclosed holding, but the sharper signal is the refill: Amazon, Micron, TSM, NRG and Whirlpool all moved into a $6.93B book ahead of Q1 2026.
Tiger Global's Q4 2025 13F shows a $29.71B book, 54 holdings, and a new top layer shaped by Microsoft, Amazon, TSM, and Take-Two. Q1 2026 will show whether the rebuild is real or still provisional.
Barclays PLC reported $416.70 billion in Q4 2025 with 18.75% in a single SPY position. Here is why the British bank's 13F looks different from traditional asset managers and what it reveals about structured products hedging.
Nuveen, TIAA's investment arm, reported $381.90 billion in Q4 2025 13F value. Here is how the retirement manager for millions of educators and nonprofit workers positions their equity portfolio.
Wellington Management ended Q4 2025 with $570.66 billion in reported 13F AUM, 7,580 positions, and a top-10 basket worth just 29.5% of the portfolio. The filing highlights how a private, independent asset manager translates platform breadth into a remarkably balanced public-equity book.
Dodge & Cox ended Q4 2025 with $185.26B in 13F assets, 222 holdings, and a top book led by Charles Schwab, Johnson Controls, RTX, CVS Health, and FedEx.