2025 Q3 Smart Money Report

Largest fresh entries initiated this quarter by dollar value.

Fund	Stock	Value	Weight	Conviction
BERKSHIRE HATHAWAY INCWarren Buffett (Chairman Emeritus)	Alphabet Inc Cap Stock Cl A	$4.3B	+1.6%	74
SOSOFTBANK GROUP CORP.	Intel Corp	$2.9B	+11.2%	99
Optiver Holding B.V.	State Street Spdr S&P 500 Etf	$2.2B	+0.9%	62
PEPentwater Capital Management LP	CYBERARK SOFTWARE LTD	$1.8B	+9.9%	98
Jefferies Financial Group Inc.	VANGUARD WORLD FD	$1.7B	+7.9%	98
MGMERCER GLOBAL ADVISORS INC /ADV	Apple Inc	$1.5B	+2.6%	83
POLEN CAPITAL MANAGEMENT LLC	Broadcom Inc	$1.5B	+4.8%	88
First Command Advisory Services, Inc.	BLACKROCK ETF TRUST	$1.3B	+9.7%	98
VIKING GLOBAL INVESTORS LP	Microsoft Corp	$1.3B	+3.3%	88
DODGE & COX	AON PLC Cl A	$1.2B	+0.7%	62

The stocks the most tracked funds bought as new positions in 2025 Q3.

Stock	Funds Opened	Funds Sold Out	Funds Holding
ALABAstera Laboratories Inc	5817 sold out	17	251
RKLBRocket Lab Corp	5813 sold out	13	247
ABVXABIVAX SA	582 sold out	2	75
MPMp Materials Corp Cl A	5715 sold out	15	225
CRCLCIRCLE INTERNET GROUP INC	5623 sold out	23	142
BEBloom Energy Corp Cl A	5511 sold out	11	216
JBSJbs NV Cl A	546 sold out	6	139
AMRZAMRIZE LTD	5316 sold out	16	146
SOFISofi Technologies Inc	5210 sold out	10	263
GLXYGALAXY DIGITAL INC.	5212 sold out	12	128

15 stocks drew buying from all three in 2025 Q3: more tracked funds bought than sold, company insiders bought on the open market, and a member of Congress disclosed a purchase.

Stock	Funds Bought	Funds Sold	Insiders Bought	Congress Bought
SNPSSynopsys Inc	25693 sold	93	$149K	Lisa McClain$1,001 to $15,000
TSLATesla Inc	221163 sold	163	$1B	2 members$2,002 to $30,000
LLYLilly Eli & Co	215190 sold	190	$4.5M	3 members$18,004 to $95,000
AVGOBroadcom Inc	213201 sold	201	$1.2M	Cleo Fields$96,005 to $265,0005 purchases
ORCLOracle Corp	200195 sold	195	$112K	Cleo Fields$80,003 to $200,0003 purchases
VRSKVerisk Analytics Inc	163158 sold	158	$260K	Lisa McClain$1,001 to $15,000
ALGNAlign Technology Inc	161131 sold	131	$1M	Lisa McClain$1,001 to $15,000
BROBrown & Brown Inc	160131 sold	131	$341K	3 members$4,004 to $60,000
CNCCentene Corp	156152 sold	152	$739K	2 members$93,009 to $345,000
DLTRDollar Tree Inc	151127 sold	127	$342K	Julia Letlow$1,001 to $15,000
MOHMolina Healthcare Inc	146129 sold	129	$1.6M	Gilbert Cisneros$1,001 to $15,000
ADCAgree Realty Corp	12288 sold	88	$556K	Lisa McClain$1,001 to $15,000
RGENRepligen Corp	11088 sold	88	$202K	Lisa McClain$1,001 to $15,000
TFXTeleflex Inc	10792 sold	92	$634K	Lisa McClain$1,001 to $15,000
FCPTFour Corners Property Trust	8677 sold	77	$199K	Lisa McClain$1,001 to $15,000

Positions completely sold this quarter, ranked by previous value.

Fund	Stock	Previous Value
FARALLON CAPITAL MANAGEMENT, L.L.C.	State Street Spdr S&P 500 Etf	$3.4B
PRUDENTIAL PLC	VANGUARD SCOTTSDALE FDS	$3.1B
BNP Paribas Asset Management Holding S.A.	Microsoft Corp	$2.5B
GQG Partners LLC	Intl Business Machines	$1.4B
Holocene Advisors, LP	ISHARES TR	$1.2B
TIGER GLOBAL MANAGEMENT LLC	Lilly Eli & Co	$1.2B
VIKING GLOBAL INVESTORS LP	US Bancorp Del	$1.1B
State of New Jersey Common Pension Fund D	Vanguard Total Stock Market ET	$1.1B
SC US (TTGP), LTD.	Nu Holdings Ltd Cl A	$998.6M
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	PDD HOLDINGS INC	$967M

The stocks the most tracked funds sold out of completely in 2025 Q3.

Stock	Funds Sold Out	Funds Opened	Funds Holding
VRNAVERONA PHARMA PLC	5628 opened	28	103
RALRalliant Corp	5439 opened	39	199
AVTRAvantor Inc	5215 opened	15	200
MKTXMarketaxess Holdings Inc	4511 opened	11	209
CWANCLEARWATER ANALYTICS HLDGS I	4520 opened	20	170
GGALGRUPO FINANCIERO GALICIA S.A	419 opened	9	60
BRKRBruker Corp	3621 opened	21	165
ARISARIS WATER SOLUTIONS INC	3619 opened	19	100
BILLBill Holdings Inc	3526 opened	26	173
TTDThe Trade Desk Inc Cl A	3423 opened	23	296

Funds increasing positions into price weakness - contrarian conviction.

Fund	Stock	Position Increase	Price Drop	DD Score
SCHRODER INVESTMENT MANAGEMENT GROUP	MOONLAKE IMMUNOTHERAPEUTICS	+908.2%	-86.9%	78,894
STATE STREET CORP	AI FINL CORP	+848.7%	-62.9%	53,381
VANGUARD GROUP INC	AI FINL CORP	+775.4%	-62.9%	48,767
PRICE T ROWE ASSOCIATES INC /MD/	SEZZLE INC	+935.3%	-50.8%	47,499
CITIGROUP INC	AEVA TECHNOLOGIES INC	+740.7%	-58.8%	43,571
MORGAN STANLEY	MOONLAKE IMMUNOTHERAPEUTICS	+493.6%	-86.9%	42,876
Brevan Howard Capital Management LP	ALIGHT INC	+989.3%	-41.8%	41,356
GOLDMAN SACHS GROUP INC	BANCO BBVA ARGENTINA S A	+816.7%	-49.5%	40,390
SOSquarepoint Ops LLC	IRIDIUM COMMUNICATIONS INC	+955.0%	-41.6%	39,763
PRICE T ROWE ASSOCIATES INC /MD/	PAR TECHNOLOGY CORP	+916.6%	-42.9%	39,363

The positions funds are most committed to this quarter.

Fund	Stock	Type	Value	Conviction
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	MICROSOFT CORP	Increased	$30.8B	100
IEQ CAPITAL, LLC	APPLOVIN CORP	Increased	$11.3B	100
Eisler Capital Management Ltd.	ISHARES TR	Increased	$3.3B	100
Holocene Advisors, LP	TESLA INC	Increased	$2.7B	100
MONETA GROUP INVESTMENT ADVISORS LLC	VANGUARD INDEX FDS	Increased	$1.7B	100
TEACHER RETIREMENT SYSTEM OF TEXAS	VANGUARD INDEX FDS	Increased	$1.5B	100
Soroban Capital Partners LP	TRANSDIGM GROUP INC	Increased	$765.9M	100
WPWINDACRE PARTNERSHIP LLC	SAP SE	Increased	$629.9M	100
HHLR ADVISORS, LTD.	ALIBABA GROUP HLDG LTD	Increased	$588M	100
Third Point LLC	MICROSOFT CORP	Increased	$569.7M	100

This quarter's top-ranked fund: Cubist Systematic Strategies, LLC

Cubist Systematic Strategies, LLC

Top 5 winners and losers by estimated P&L.

Top Winners

GPAEFSteward Partners Investment Advisory, LLC

+500x

AGLHB Wealth Management, LLC

+119x

AGLMerit Financial Group, LLC

+119x

AGLFarther Finance Advisors, LLC

+116x

AGLLPL Financial LLC

+101x

Top Losers

EVFMCITADEL ADVISORS LLC

-100.0%

SOBRHudson Bay Capital Management LP

-100.0%

TWNPQMILLENNIUM MANAGEMENT LLC

-100.0%

DLAPQQube Research & Technologies Ltd

-100.0%

QCLSCandriam S.C.A.

-100.0%

Stocks where members of Congress AND institutional investors both bought — disclosed in Q2 2026. 10 stocks overlapped this quarter.

Stock	Congress	Funds
DVNDEVON ENERGY CORP	1 member	275 funds
TSLATESLA INC	1 member	232 funds
KVUEKENVUE INC	1 member	163 funds
SPGSIMON PROPERTY GROUP INC	1 member	161 funds
COOCOOPER COS INC/THE	1 member	154 funds
TCBITEXAS CAPITAL BANCSHARES INC	1 member	106 funds
SPHRSPHERE ENTERTAINMENT CO	1 member	106 funds
QNTQUANTINUUM INC	1 member	90 funds
MTNVAIL RESORTS INC	1 member	89 funds
FOURSHIFT4 PAYMENTS INC-CLASS A	1 member	69 funds