---
title: "Legal & General's $451B Q4 2025 Filing Put 7.1% Into Nvidia — the Highest NVDA Weight Among Non-Concentrated Filers"
type: research
slug: legal-general-q4-2025-uk-giant-nvidia-7-percent-overweight
canonical_url: https://13finsight.com/research/legal-general-q4-2025-uk-giant-nvidia-7-percent-overweight
published_at: 2026-03-10T18:00:34.860Z
updated_at: 2026-03-23T07:03:21.919Z
author: Alex Rivera
author_title: Breaking News Editor
author_url: https://13finsight.com/authors/alex-rivera
word_count: 450
locale: en
source: 13F Insight
---

# Legal & General's $451B Q4 2025 Filing Put 7.1% Into Nvidia — the Highest NVDA Weight Among Non-Concentrated Filers

> UK's largest asset manager held $450.9B in Q4 2025 with Nvidia at 7.09% and Apple at 6.66%. The top-3 concentration of 19.3% is notably higher than comparable diversified managers.

Legal & General Group, the UK's largest asset manager, filed its Q4 2025 13F showing $450.9 billion across 3,387 unique holdings. The standout: Nvidia (NVDA) at 7.09% of the portfolio ($32.0B) — the highest Nvidia weight among any diversified filer with 3,000+ positions. Combined with Apple at 6.66% and Microsoft at 5.48%, the top three names control 19.3% of the book. TL;DR AUM: $450.9B (Q4 2025) Holdings count: 3,387 unique positions Top holding: Nvidia at 7.09% ($32.0B, 171.5M shares) Top-3 concentration: 19.3% — higher than comparably broad managers Tesla at #9: $9.1B (2.01%) — higher than most non-ETF managers Visa at #12: $4.3B (0.96%) — payments/fintech allocation UK origin: Legal & General is the largest UK-headquartered 13F filer Whale Score: 74.25 The Nvidia Overweight Nvidia at 7.09% is roughly 1.5x the stock's S&P 500 weight (~4.5%). For a 3,387-position portfolio, this isn't passive indexing — it's a deliberate overweight. Among filers with over 3,000 positions, only Legal & General carries Nvidia above 7%. This reflects L&G's index-plus approach: tracking major benchmarks but allowing tactical tilts in high-conviction names. Tesla: A 2% Bet Most Diversified Managers Avoid Tesla at $9.1B (2.01%, 20.2M shares) is position #9. Many diversified managers with 3,000+ positions hold Tesla at 1-1.5% — its standard index weight. At 2%, L&G is running a modest overweight in the EV/energy storage name, consistent with the firm's long-standing focus on sustainable investment themes. A UK Giant in U.S. Markets Legal & General is the largest UK-headquartered asset manager filing a 13F. The $451B in U.S.-listed holdings is managed across L&G's index, multi-asset, and institutional mandates. Unlike U.S. banks that file 13Fs reflecting custody activity, L&G's filing primarily represents discretionary investment decisions — making the Nvidia and Tesla overweights more meaningful as conviction signals. What Analysts Might Misread Misread #1: “7% in Nvidia is aggressive” It's modestly above index weight, not a concentrated bet. In the context of 3,387 positions and $451B, this is controlled overweighting, not speculation. Misread #2: “UK firms don't influence U.S. markets” L&G manages $451B in U.S.-listed securities. Their buy/sell decisions move markets — especially in mid-cap names where they may represent significant ownership. Frequently Asked Questions What is Legal & General's largest holding? Nvidia at 7.09% ($32.0B), followed by Apple at 6.66% ($30.0B) and Microsoft at 5.48% ($24.7B). Is Legal & General a passive or active manager? L&G runs both index and active strategies. The 13F shows an index-plus approach — largely tracking benchmarks but with tactical overweights in names like Nvidia (7.09% vs ~4.5% index weight) and Tesla (2.01%). How big is Legal & General's U.S. portfolio? $450.9 billion across 3,387 unique U.S.-listed holdings as of Q4 2025, making it the largest UK-headquartered 13F filer.

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Source: 13F Insight — https://13finsight.com/research/legal-general-q4-2025-uk-giant-nvidia-7-percent-overweight
Author: Alex Rivera — https://13finsight.com/authors/alex-rivera
Last updated: 2026-03-23T07:03:21.919Z