---
title: "American Century's $198.97B Q4 Book: NVIDIA Weight Climbs, But Risk Stays Managed"
type: research
slug: american-century-q4-2025-199b-nvidia-led-concentration-discipline
canonical_url: https://13finsight.com/research/american-century-q4-2025-199b-nvidia-led-concentration-discipline
published_at: 2026-03-22T17:38:20.895Z
updated_at: 2026-03-23T07:00:13.140Z
author: Marcus Chen
author_title: Senior Market Analyst
author_url: https://13finsight.com/authors/marcus-chen
word_count: 408
locale: en
source: 13F Insight
---

# American Century's $198.97B Q4 Book: NVIDIA Weight Climbs, But Risk Stays Managed

> AMERICAN CENTURY COMPANIES INC reported $198.97B in Q4 2025, led by an $11.81B NVIDIA stake, while keeping top-10 concentration at 33.4% across a 500-position portfolio.

AMERICAN CENTURY COMPANIES INC closed Q4 2025 at $198.97B in reported 13F AUM, with its largest disclosed position in NVIDIA (NVDA) at $11.81B. A 7.28% top holding is meaningful, but the broader construction still matters more: the top-10 basket is 33.4%, which signals conviction without crossing into extreme concentration territory for a portfolio this large. TL;DR Quarter: 2025Q4 Canonical AUM: $198.97B Holdings value sum: $162.16B Positions: 500 Top position: NVDA at $11.81B (7.28%) Top-5 concentration: 23.6% Top-10 concentration: 33.4% AUM trajectory: $162.99B (2025Q1) to $198.97B (2025Q4) Filing Snapshot AMERICAN CENTURY COMPANIES INC reported a WhaleScore of 70.50 in Q4 2025 with 500 positions. The filing reflects scale, clear mega-cap bias, and a gradual increase in AUM through the back half of the year. Metric Value Canonical AUM $198.97B Holdings value sum $162.16B Positions 500 Top-1 concentration 7.3% Top-5 concentration 23.6% Top-10 concentration 33.4% Top Holdings: Clear Winners, Measured Position Sizing The top stack — NVDA, MSFT, AAPL, AMZN, and GOOGL — captures the market’s dominant earnings engines. The key is implementation: no single name crosses 8%, and secondary weights stay distributed enough to preserve rebalance flexibility. AUM History: Strong Recovery After Q1 Dip After dropping to $162.99B in 2025Q1, AUM rebounded to $184.05B in 2025Q2, then advanced to $196.53B in 2025Q3 and $198.97B in 2025Q4. That sequence points to sustained participation in market strength rather than a one-quarter spike. Analyst Read-Through This filing looks like a high-scale growth allocator that accepts concentration in proven leaders while keeping guardrails in place. If 2026 broadens beyond current mega-cap leadership, this structure should still adapt because the portfolio is not trapped in a narrow top-two profile. Related 13F Insight Research Vanguard Q4 2025: NVIDIA Overtakes Apple MFS Q4 2025: Scale Without Single-Stock Risk D. E. Shaw Q4 2025: Quant Risk Barbell Q&A How large is American Century’s Q4 2025 13F portfolio? The canonical reported 13F AUM is $198.97B. What is the largest disclosed position? NVIDIA (NVDA) is the largest at $11.81B, representing 7.28% of the holdings value base. Is the portfolio highly concentrated? It has meaningful concentration but not extreme levels: top-5 is 23.6% and top-10 is 33.4%. How did AUM move during 2025? AUM rose from $162.99B in Q1 to $198.97B by Q4, with steady gains in Q2 and Q3. Why does this filing matter for tracking institutional behavior? It shows how a large manager can run a winner-led portfolio while maintaining enough diversification to manage downside and regime shifts.

## FAQ

### What did American Century report in Q4 2025 13F assets?

AMERICAN CENTURY COMPANIES INC reported a canonical 13F AUM of $198.97B for 2025Q4.

### Which stocks are the largest in American Century's Q4 2025 filing?

The largest disclosed holdings are NVDA ($11.81B), MSFT ($7.31B), AAPL ($7.08B), AMZN ($6.14B), and GOOGL ($5.91B).

### How concentrated is American Century's portfolio in Q4 2025?

Top-1 concentration is 7.3%, top-5 is 23.6%, and top-10 is 33.4%, showing conviction with still-moderate diversification at scale.

### How did American Century's AUM change through 2025?

AUM moved from $162.99B in Q1 to $184.05B in Q2, then to $196.53B in Q3 and $198.97B in Q4.

### Why is this filing important for investors?

It demonstrates a large institution leaning into mega-cap winners while keeping concentration limits that preserve portfolio flexibility.

---

Source: 13F Insight — https://13finsight.com/research/american-century-q4-2025-199b-nvidia-led-concentration-discipline
Author: Marcus Chen — https://13finsight.com/authors/marcus-chen
Last updated: 2026-03-23T07:00:13.140Z