The third quarter of 2025 brought spectacular changes in hedge fund capital allocations, reversing the euphoria surrounding the “Magnificent Seven” stocks. Warren Buffett made an extraordinary move, increasing his position in Alphabet by 17.9 million shares (£4.9 billion), while reducing his stake in Apple by 15% and selling 37.2 million shares in Bank of America.
Based on data from nearly 909 hedge funds surveyed, the technology sector maintained its leading position (26% of portfolios) in terms of capital allocation. However, it is worth noting that as many as 145 funds reduced their positions in Apple, while only 118 increased them, and CoreWeave experienced a collapse in value of $5.83 billion – the largest decline in fund exposure across the entire market in terms of transaction value. NVIDIA remains a giant with a position worth $56.5 billion, and the $10.64 billion increase in value alone continues to confirm strong interest in the company, given its results and future projections.
CoreWeave, one of the state’s key AI infrastructure companies, has lowered its revenue forecast for 2025 from $5.35 billion to $5.05–5.15 billion, citing delays from third-party suppliers and energy constraints. CEO Michael Intrator acknowledged the industry’s frustration: the entire AI ecosystem is suffering from supply chain disruptions, computing power shortages and delays in connecting to the power grid. The rejection of the Core Scientific acquisition and the simultaneous decline in CoreWeave’s operating profit margin from an expected 6.5% to an actual 4% shows a dangerous combination and the risks that lie ahead.
Source: own study, XTB Research based on 13F data. Selected companies.
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