Quarterly pulse
What changed in Q4 2025
New money, crowded names, and exits — computed across every 13F book we have for the quarter.
Largest new buys
- Cheniere Energy Partners LpCQP · 2 new books$5.47B
- Totalenergies SeTTE · 39 new books$5.39B
- Banco Santander (Brasil) S.A.BSBR · 2 new books$3.18B
- Nvidia CorpNVDA · 15 new books$2.2B
- Amrize LtdAMRZ · 11 new books$1.47B
- Firstenergy CorpFE · 4 new books$1.29B
- Eqt CorpEQT · 13 new books$1.29B
- Medline Inc.MDLN · 17 new books$1.24B
- Amazon Com IncAMZN · 13 new books$1.23B
- Legence Corp.LGN · 5 new books$1.16B
- Microsoft CorpMSFT · 12 new books$931.7M
- Txnm Energy IncTXNM · 6 new books$823.7M
Most new holders
- Totalenergies SeTTE · 841 holders now+39
- Qnity Electronics, Inc.Q · 1,009 holders now+36
- Micron Technology IncMU · 2,678 holders now+27
- Lam Research CorpLRCX · 2,386 holders now+22
- Western Digital CorpWDC · 1,234 holders now+22
- Broadcom Inc.AVGO · 4,688 holders now+21
- Eli Lilly & CoLLY · 4,423 holders now+21
- Meta Platforms, Inc.META · 5,127 holders now+20
- Echostar CorpECHO · 601 holders now+19
- MARA Holdings, Inc.MARA · 524 holders now+19
- GE Vernova Inc.GEV · 2,804 holders now+17
- Uber Technologies, IncUBER · 2,647 holders now+17
Largest exits
- Caterpillar IncCAT · 7 sold out$1.87B
- Totalenergies SeTTE · 22 sold out$1.04B
- Arista Networks, Inc.ANET · 11 sold out$538M
- Autodesk, Inc.ADSK · 6 sold out$528.9M
- Palo Alto Networks IncPANW · 6 sold out$392.8M
- Analog Devices IncADI · 6 sold out$347M
- Intuit Inc.INTU · 5 sold out$336.3M
- Microsoft CorpMSFT · 7 sold out$328.5M
- Meta Platforms, Inc.META · 9 sold out$296.3M
- Spotify Technology S.A.SPOT · 9 sold out$283.6M
- Dexcom IncDXCM · 10 sold out$280.8M
- Marvell Technology, Inc.MRVL · 9 sold out$230.8M