13F-HR: NVIDIA's Q3 2025 Portfolio Reveals $3.84B in Holdings

NVIDIA Corp. disclosed its institutional investment holdings for the quarter ended September 30, 2025, totaling over $3.84 billion across six companies.

Summary

• NVIDIA Corp. filed its Form 13F-HR for the calendar quarter ended September 30, 2025.
• The report details institutional investment holdings with a total market value of $3,843,681,339.
• The portfolio consists of 6 distinct equity positions.
• NVIDIA holds a significant stake in COREWEAVE INC, valued at $3,322,385,865, representing 24,277,573 shares with sole investment discretion.
• Other notable holdings include APPLIED DIGITAL CORP ($177,006,187, 7,716,050 shares), ARM HOLDINGS PLC ($155,815,721, 1,101,249 shares), and NEBIUS GROUP N.V. ($133,654,741, 1,190,476 shares).
• Smaller positions include RECURSION PHARMACEUTICALS IN ($37,607,051, 7,706,363 shares) and WERIDE INC ($17,211,774, 1,738,563 shares).
• All reported holdings are under 'SOLE' investment discretion, except for WERIDE INC, which is listed as 'DFND' (Defined).

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of institutional holdings, providing a neutral snapshot of NVIDIA's investment portfolio. The significant value and strategic nature of some holdings could be viewed as slightly positive, indicating active and focused capital deployment.

Positives

• Disclosure of a substantial institutional investment portfolio valued at over $3.84 billion, demonstrating active capital allocation.
• Strategic investments in companies like COREWEAVE INC and ARM HOLDINGS PLC align with NVIDIA's core business in AI, data centers, and semiconductor technology, potentially fostering ecosystem growth or securing key partnerships.

Negatives

• No explicit negatives are present in this disclosure filing, as it primarily reports historical holdings rather than operational performance or financial results.

Risks

• The value of the reported holdings is subject to market fluctuations, which could impact NVIDIA's overall financial position.
• Concentration risk exists due to a significant portion of the portfolio's value being invested in a single entity, COREWEAVE INC, representing approximately 86% of the total reported value.

Future Outlook

This filing is a historical snapshot of institutional investment holdings and does not contain forward-looking statements or guidance regarding NVIDIA's future performance or investment strategy.

Management Comments

• The filing is a standard regulatory disclosure and does not include specific management commentary or quotes beyond the signatory's attestation that the information is true, correct, and complete.

Industry Context

NVIDIA's investment in companies like COREWEAVE INC (a cloud provider specializing in GPU-accelerated compute) and ARM HOLDINGS PLC (a key chip architecture provider) aligns with its strategic focus on AI, data centers, and semiconductor technology. These holdings reflect potential partnerships or strategic interests within its core industry, aiming to strengthen its ecosystem and market position.

Comparison to Industry Standards

• Many large technology companies maintain strategic investment portfolios, often through corporate venture arms, to foster innovation and secure supply chains or partnerships. NVIDIA's portfolio, particularly its significant stake in COREWEAVE INC, suggests a strategic approach to securing compute resources or fostering ecosystem growth, similar to how other tech leaders invest in complementary technologies or startups.
• The concentration of a large portion of the portfolio in a single private entity (COREWEAVE INC) is a notable characteristic, indicating a high-conviction strategic investment, which can be observed in other tech giants' venture capital activities.

Stakeholder Impact

• Shareholders: Provides transparency into NVIDIA's investment strategy and the composition of its institutional portfolio, which could influence perceptions of asset allocation and strategic direction.
• Competitors: Reveals potential strategic alliances or areas of interest for NVIDIA, which could inform competitive analysis and market positioning.
• Investee Companies: Highlights NVIDIA's significant ownership stakes, potentially signaling confidence or strategic alignment to the market for the companies in which it has invested.

Next Steps

• This filing is a historical report of holdings and does not outline specific future actions, events, or milestones for NVIDIA Corp.

Key Dates

Keywords

NVIDIA, 13F, Holdings, Institutional Investments, Portfolio, COREWEAVE INC, ARM Holdings, Applied Digital, Recursion Pharmaceuticals, WeRide, Nebius Group, SEC Filing