Major Funds' Q3 Filings: AI Still Dominates, But Tech Trades Split
The recent wave of 13F reports from U.S. institutional investors has become a crucial window into Wall Street's investment trends. As required by the SEC, institutions managing over $100 million in equity assets must disclose their U.S. equity holdings within 45 days after each quarter ends.
The holdings of top investment firms like Berkshire Hathaway and Bridgewater have drawn particular attention.
Notable Q3 Moves:
– Berkshire Hathaway accelerated its selling of $Apple(AAPL)$
– Baillie Gifford showed diverging strategies toward AI application stocks: adding $Duolingo (DUOL.US)$ while reducing $Cloudflare (NET.US)$ and $Spotify Technology (SPOT.US)$ , plus initiating $Coinbase (COIN.US)$ .
– Bridgewater increased AI application software stocks while cutting $NVIDIA (NVDA.US)$ $Alphabet-A (GOOGL.US)$ and $Microsoft (MSFT.US)$.
– ARK added cryptocurrency reserve stocks $Bitmine Immersion Technologies (BMNR.US)$ and $Brera Holdings (SLMT.US)$ , while initiating $Bullish (BLSH.US)$.
What signals do these major moves convey?
Berkshire: Further Apple Reduction, New Alphabet Position
Berkshire Hathaway's recent filings underscore a consistent strategy of capital consolidation. The company was a net seller of equities for the 12th quarter in a row, selling $12.5 billion against $6.4 billion in buys, and extended its share repurchase hiatus to a fifth consecutive period.
A notable shift, however, was a major new bet on Alphabet, with Berkshire acquiring a $4.3 billion stake in the tech giant during a quarter when it announced strong 16% revenue growth and continued massive investment in artificial intelligence.
While Berkshire Hathaway kept its core investments intact—with American Express, Apple, Bank of America, Coca-Cola, and Chevron as its largest holdings—the firm actively reshuffled other parts of its portfolio. It increased its bets on Chubb, Domino's Pizza, Sirius XM, and Lennar, but scaled back its position in Bank of America and sold its entire stake in D.R. Horton. Meanwhile, its investments in Amazon and the beleaguered insurer UnitedHealth were maintained.
Baillie Gifford: Diverging AI Application Stock Strategies
The British asset manager's $135 billion portfolio (up $1 billion) saw its top ten holdings account for 44.66%. Leading positions were Nvidia, MercadoLibre, Sea, Amazon and Spotify Technology - though the latter three faced reductions.
Major additions included Rocket Lab (+7.33 million shares, +176%), The Ensign Group , Duolingo (+2.07 million shares, +73.3%), Coinbase (new position), and MSCI Inc. Significant reductions affected Cloudflare (-3.68 million shares), Spotify Technology (-933,600 shares), Nvidia (-2.13 million shares), MercadoLibre and Roblox.
Bridgewater's Top Q3 Moves: Initiating Applied Materials and Reducing Nvidia Stake
According to its Q3 2025 13F filing, Bridgewater Associates made significant portfolio shifts, pivoting toward semiconductor equipment and broad market ETFs while reducing exposure to major tech giants.
The fund established new positions in Applied Materials and Robinhood Markets and substantially increased its holdings in Lam Research (more than doubling its stake), the iShares Core S&P 500 ETF, and Adobe. Conversely, Bridgewater aggressively cut its stakes in Alphabet (by over 50%), Microsoft (by 36%), and Nvidia (by 65%).
ARK Buys the Dip in Circle, BitMine and Bullish
ARK's $16.8 billion portfolio (up $3.2 billion) had top ten holdings comprising 46.16%. Key additions were cryptocurrency-focused stocks Bitmine Immersion Technologies and Brera Holdings, plus new position Bullish. Tesla saw a 512,200-share increase (+17%) after Q2 reduction, maintaining its top position at 9.5%.
Significant reductions affected Robinhood (-$400 million, -2.77 million shares, -35.6%), Roblox (-1.46 million shares, -21.5%), Guardant Health, Roku(-1.11 million shares, -13.1%), and Kratos Defense & Security.
@TigerStars @CaptainTiger @TigerWire @Daily_Discussion @Tiger_chat @Tiger_comments @MillionaireTiger
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
