Capital World Investors Built a 30.7% Top Ten Around Broadcom, Microsoft, Meta, and a Philip Morris Twist

Capital World Investors did not build a plain vanilla mega-cap growth portfolio in Q4 2025. The top of the $735 billion filing is led by Broadcom, Microsoft, Meta, and NVIDIA, but then the pattern bends. Philip Morris is a top-five position, and Micron also sits in the top ten. That mix turns the filing into something more interesting than a simple momentum clone.

TL;DR

• 13F AUM: $735.3B.
• Largest position: AVGO at 5.80%.
• Top-5 concentration: 19.80%.
• Top-10 concentration: 30.72%.
• Non-obvious signal: Philip Morris and Micron prevent this from being a pure software-platform stack.
• Read with: our mega-cap ownership map and our overlap explainer.

Filing Snapshot

This Is Growth Leadership With a Deliberate Texture Change

The most obvious read is that Capital World likes elite compounders. That is true. Broadcom, Microsoft, Meta, and NVIDIA all sit near the top. But the more useful read is that the manager refuses to let the top of the book become a one-note technology sermon.

Philip Morris introduces a very different earnings and cash-flow profile. Micron adds a more cyclical semiconductor expression than the typical software-heavy mega-cap lineup. That combination suggests Capital World wants growth leadership, but with edges that do not all depend on the same macro outcome.

Why Broadcom at the Top Is Important

Broadcom at 5.8% is a stronger statement than simply owning another large semiconductor name. It tells you the manager is willing to put a capital-allocation and infrastructure-platform company at the very front of the book, even ahead of more canonical mega-cap software names.

Questions Investors Search For

Is Capital World Investors just another mega-cap tech holder?

No. The fund clearly favors leadership names, but the presence of PM and MU gives the portfolio a different risk mix.

Why does Philip Morris matter in this filing?

Because it adds a defensive cash-flow profile to a top book otherwise dominated by growth and technology leadership.

What does Broadcom at number one imply?

That the manager sees Broadcom as one of the most important infrastructure and capital-allocation stories in the market.

How concentrated is the filing?

Moderately concentrated. The top ten are meaningful, but the portfolio is still broader than a classic concentrated hedge fund.