2025 Q4 Smart Money Report

Largest fresh entries initiated this quarter by dollar value.

Fund	Stock	Value	Weight	Conviction
NVIDIA CORP	INTEL CORP	$7.9B	+60.5%	100
NATIXIS	VANGUARD INDEX FDS	$5.2B	+18.4%	98
BNP Paribas Asset Management Holding S.A.	MICROSOFT CORP	$4.7B	+5.4%	98
Walleye Capital LLC	ISHARES TR	$4.5B	+13.9%	98
MWMARSHALL WACE, LLP	VANGUARD INDEX FDS	$2.9B	+2.6%	83
Capital International Investors	BANK OF AMER CORP	$2.4B	+0.4%	53
Sanders Capital, LLC	SALESFORCE INC	$2.3B	+2.6%	84
NVIDIA CORP	SYNOPSYS INC	$2.3B	+17.3%	100
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	ISHARES TR	$2B	+2.0%	83
Capital World Investors	JOHNSON & JOHNSON	$2B	+0.3%	53

The stocks the most tracked funds bought as new positions in 2025 Q4.

Stock	Funds Opened	Funds Sold Out	Funds Holding
CRWVCOREWEAVE INC	7136 sold out	36	228
SNDKSANDISK CORP	6711 sold out	11	269
BEBLOOM ENERGY CORP	6416 sold out	16	265
ECHOECHOSTAR CORP	6212 sold out	12	236
NBISNEBIUS GROUP N.V.	5828 sold out	28	207
CRCLCIRCLE INTERNET GROUP INC	5723 sold out	23	177
PRAXPRAXIS PRECISION MEDICINES I	556 sold out	6	141
TERNTERNS PHARMACEUTICALS INC	545 sold out	5	126
INSMINSMED INC	5222 sold out	22	269
LGNLEGENCE CORP	529 sold out	9	98

6 stocks drew buying from all three in 2025 Q4: 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
AVGOBROADCOM INC	227193 sold	193	$325K	3 members$20,006 to $125,000
KOCOCA COLA CO	197172 sold	172	$999K	6 members$20,006 to $125,000
DASHDOORDASH INC	189151 sold	151	$100.3M	Gilbert Cisneros$4,004 to $60,0004 purchases
TDGTRANSDIGM GROUP INC	159149 sold	149	$2.6M	Gilbert Cisneros$2,002 to $30,0002 purchases
OKEONEOK INC NEW	155151 sold	151	$165K	Gilbert Cisneros$1,001 to $15,000
CNSCOHEN & STEERS INC	7473 sold	73	$17.2M	Gilbert Cisneros$1,001 to $15,000

Positions completely sold this quarter, ranked by previous value.

Fund	Stock	Previous Value
SOSOFTBANK GROUP CORP.	NVIDIA CORPORATION	$6B
PUBLIC INVESTMENT FUND	TAKE-TWO INTERACTIVE SOFTWAR	$2.9B
Jefferies Financial Group Inc.	VANGUARD WORLD FD	$1.7B
Capital International Investors	DAYFORCE INC	$1.3B
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	ORACLE CORP	$1.3B
EdgePoint Investment Group Inc.	DAYFORCE INC	$1.2B
NorthCoast Asset Management LLC	VALUED ADVISERS TR	$1.2B
LONE PINE CAPITAL LLC	META PLATFORMS INC	$971M
AIAlyeska Investment Group, L.P.	APPLE INC	$928.4M
COATUE MANAGEMENT LLC	COREWEAVE INC	$920.3M

The stocks the most tracked funds sold out of completely in 2025 Q4.

Stock	Funds Sold Out	Funds Opened	Funds Holding
LRNSTRIDE INC	5821 opened	21	179
EMNEASTMAN CHEM CO	5314 opened	14	217
KMXCARMAX INC	5215 opened	15	202
LKQLKQ CORP	5113 opened	13	208
OCOWENS CORNING NEW	4717 opened	17	240
MOHMOLINA HEALTHCARE INC	4416 opened	16	233
ACIALBERTSONS COMPANIES INC	4415 opened	15	199
BMRNBIOMARIN PHARMACEUTICAL INC	4318 opened	18	227
FMCFMC CORP	4227 opened	27	177
QGENQIAGEN NV	4214 opened	14	146

Funds increasing positions into price weakness - contrarian conviction.

Fund	Stock	Position Increase	Price Drop	DD Score
GEODE CAPITAL MANAGEMENT, LLC	EIGHTCO HOLDINGS INC	+898.3%	-81.1%	72,843
FMR LLC	VOR BIOPHARMA INC	+968.1%	-73.2%	70,820
STATE STREET CORP	VOR BIOPHARMA INC	+905.7%	-73.2%	66,252
GEODE CAPITAL MANAGEMENT, LLC	STRIVE INC.	+939.6%	-70.5%	66,222
MILLENNIUM MANAGEMENT LLC	REZOLUTE INC	+854.5%	-74.9%	63,998
GOLDMAN SACHS GROUP INC	VOR BIOPHARMA INC	+822.6%	-73.2%	60,175
MILLENNIUM MANAGEMENT LLC	VOR BIOPHARMA INC	+806.7%	-73.2%	59,012
TWO SIGMA ADVISERS, LP	LENZ THERAPEUTICS INC	+905.9%	-64.1%	58,060
HighTower Advisors, LLC	AIRO GROUP HOLDINGS INC	+936.8%	-57.1%	53,540
CITADEL ADVISORS LLCKen Griffin	STRATEGY INC	+966.4%	-52.8%	51,064

The positions funds are most committed to this quarter.

Fund	Stock	Type	Value	Conviction
Invesco Ltd.	NVIDIA CORPORATION	Increased	$63.6B	100
NVIDIA CORP	INTEL CORP	New	$7.9B	100
Allianz Asset Management GmbH	ISHARES TR	Increased	$5.7B	100
Schonfeld Strategic Advisors LLC	ISHARES TR	Increased	$5.6B	100
TEACHER RETIREMENT SYSTEM OF TEXAS	VANGUARD INDEX FDS	Increased	$4.1B	100
NVIDIA CORP	SYNOPSYS INC	New	$2.3B	100
Pershing Square Capital Management, L.P.	META PLATFORMS INC	New	$1.8B	100
EP Wealth Advisors, LLC	VANGUARD INDEX FDS	Increased	$1.5B	100
MACQUARIE GROUP LTD	VANGUARD INDEX FDS	Increased	$1.5B	100
PEPentwater Capital Management LP	BOEING CO	Increased	$1.4B	100

This quarter's top-ranked fund: TWO SIGMA ADVISERS, LP

TWO SIGMA ADVISERS, LP

Top 5 winners and losers by estimated P&L.

Top Winners

GPAEFSteward Partners Investment Advisory, LLC

+556x

AGLHB Wealth Management, LLC

+125x

AGLMerit Financial Group, LLC

+125x

AGLFarther Finance Advisors, LLC

+123x

AGLLPL Financial LLC

+106x

Top Losers

VMARUBS Group AG

-100.0%

WKHSCULLEN/FROST BANKERS, INC.

-100.0%

SOBRCOMMONWEALTH EQUITY SERVICES, LLC

-100.0%

CMBMWOLVERINE ASSET MANAGEMENT LLC

-100.0%

SRNEHudson Bay Capital Management LP

-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