Combined AUM$15.79T
QoQ change$518.48B
Unique securities5,746
As of2025-12-31
Vanguard2025-12-31
$6.90T
17,686 positions
State Street2025-12-31
$2.98T
4,288 positions
BlackRock2025-12-31
$5.92T
50,216 positions
Sector allocation (combined)
Smart insights
gemini-2.5-flash
Cross-firm signal
The Big Three's combined AUM increased by $518.5B to $15.8T. Unanimous accumulation in Alphabet (Class A and C), Apple, and Eli Lilly signals strong conviction in large-cap tech and pharmaceuticals. Conversely, significant reductions in DuPont and Motorola Solutions, alongside a unanimous cut in D.R. Horton, suggest a rotation out of industrials and homebuilders.
Top accumulated
| Ticker | Name | Δ Value | Alignment |
|---|---|---|---|
| GOOGL | ALPHABET INC-CL A | $90.64B | |
| GOOG | ALPHABET INC-CL C | $70.97B | |
| AAPL | APPLE INC | $65.51B | |
| LLY | ELI LILLY & CO | $59.39B | |
| MSFT | MICROSOFT CORP | -$39.05B | |
| MU | MICRON TECHNOLOGY INC | $32.38B | |
| ORCL | ORACLE CORP | -$29.63B | |
| META | META PLATFORMS INC-CLASS A | -$22.84B |
Top reduced
| Ticker | Name | Δ Value | Alignment |
|---|---|---|---|
| AMZN | AMAZON.COM INC | $8.43B | |
| GM | GENERAL MOTORS CO | $4.51B | |
| WFC | WELLS FARGO & CO | $3.76B | |
| TRVC | CITIGROUP INC | $3.56B | |
| ISRG | INTUITIVE SURGICAL INC | $3.18B | |
| DD | DUPONT DE NEMOURS INC | -$3.15B | |
| REGN | REGENERON PHARMACEUTICALS | $2.74B | |
| SNDK | SANDISK CORP | $2.54B |
Capital flow by sector (QoQ)
Where the Big Three are rotating capital this quarter
Theme rotation (QoQ)
Cross-sector themes — where conviction is building or unwinding
Investment candidates — what the Big Three may buy next
heuristic · not ML
Ranked by herd-gap, accumulation acceleration, sector pull, and concentration room.
| Score | Ticker | Name | Sector / Themes | Why | Big-3 exposure |
|---|---|---|---|---|---|
46 HASC | OMC | OMNICOM GROUP | Communication Services |
| $7.46B |
42 HASC | NOW | SERVICENOW INC | Technology AI |
| $37.66B |
39 HASC | SNDK | SANDISK CORP | Technology Semiconductor |
| $7.72B |
38 HASC | NFLX | NETFLIX INC | Communication Services Streaming Media |
| $86.20B |
37 HASC | ALAB | ASTERA LABS INC | Technology |
| $4.98B |
35 HASC | CIEN | CIENA CORP | Technology |
| $8.53B |
34 HASC | BN | BROOKFIELD CORP | Financial Services |
| $4.30B |
34 HASC | BIIB | BIOGEN INC | Healthcare Biotech |
| $6.97B |
34 HASC | CNC | CENTENE CORP | Healthcare |
| $5.07B |
34 HASC | HUM | HUMANA INC | Healthcare |
| $7.81B |
34 HASC | ILMN | ILLUMINA INC | Healthcare |
| $5.10B |
34 HASC | INCY | INCYTE CORP | Healthcare Biotech |
| $4.75B |
Indirect asset exposure — what the Big Three hold via equity proxies
The Big Three cannot hold BTC, gold bullion, or oil barrels directly. This panel infers their effective exposure to non-equity assets through the equities they do own (e.g., MSTR ≈ 85% Bitcoin). Weights are conservative judgment calls — click a row to see contributors.
No proxy data yet — apply migration
0006_asset_proxies.sql and run make workers.lookthrough.True economic exposure
Direct + ETF look-through, summed across the Big Three
| Ticker | Sector | Direct | via ETF | Effective |
|---|---|---|---|---|
| NVDA | Technology | $970.17B | $5.16B(1%) | $975.33B |
| AAPL | Technology | $865.88B | $4.27B(0%) | $870.15B |
| MSFT | Technology | $786.36B | $3.28B(0%) | $789.65B |
| AMZN | Consumer Cyclical | $454.35B | $2.65B(1%) | $457.00B |
| GOOGL | Communication Services | $375.37B | $2.10B(1%) | $377.46B |
| AVGO | Technology | $364.33B | $2.12B(1%) | $366.45B |
| META | Communication Services | $305.19B | $1.53B(0%) | $306.72B |
| GOOG | Communication Services | $304.19B | $1.68B(1%) | $305.87B |
| TSLA | Consumer Cyclical | $262.34B | $1.12B(0%) | $263.45B |
| LLY | Healthcare | $197.87B | $771.98M(0%) | $198.64B |
| JPM | Financial Services | $194.20B | $895.48M(0%) | $195.10B |
| BRK/B | — | $177.04B | $0.00(0%) | $177.04B |
| V | Financial Services | $134.65B | $551.41M(0%) | $135.20B |
| JNJ | Healthcare | $120.65B | $591.08M(0%) | $121.24B |
| XOM | Energy | $113.85B | $668.31M(1%) | $114.52B |