Morgan Stanley remains focused on large tech giants in Q4, heavily buying Broadcom while reducing holdings in Tesla, Microsoft, and Google
JP Morgan's position report for the fourth quarter of 2024 shows that its U.S. stock portfolio has a total market value of $1.34 trillion, an increase of approximately 2% quarter-on-quarter. The institution added 563 new stocks, increased holdings in 3,464 stocks, reduced holdings in 2,616 stocks, and completely exited 609 stocks. The top ten holdings are still concentrated in large technology stocks, with Microsoft's holding valued at approximately $56.9 billion, ranking first, and Nvidia and Apple also saw increases in holdings
According to the disclosure by the U.S. Securities and Exchange Commission (SEC), JP Morgan (JPM.US) submitted its fourth-quarter holdings report (13F) for the period ending December 31, 2024.
Statistics show that JP Morgan's total market value of U.S. stock holdings in the fourth quarter was $1.34 trillion, compared to $1.32 trillion in the previous quarter, representing a quarter-on-quarter increase of approximately 2%. The institution added 563 new stocks to its U.S. stock portfolio in the fourth quarter, increased holdings in 3,464 stocks, reduced holdings in 2,616 stocks, and completely exited 609 stocks. The top ten holdings in the fourth quarter accounted for 24.3% of JP Morgan's total U.S. stock holdings.
JP Morgan's top ten holdings in the fourth quarter remained concentrated in the most prominent U.S. tech giants, indicating that global funds will continue to bet on large tech stocks. Among them, NVIDIA, Apple, and Amazon saw slight increases in holdings, while Microsoft, Meta, and Google experienced slight reductions. Additionally, Mastercard saw a slight increase in holdings, while the SPDR S&P 500 ETF was reduced.
Among JP Morgan's top ten holdings, Microsoft (MSFT.US) remains firmly in first place, with approximately 135 million shares valued at about $56.9 billion, accounting for 4.24% of the portfolio, a decrease of 2.11% from the previous quarter.
NVIDIA (NVDA.US) ranks second, with approximately 414 million shares valued at about $55.571 billion, accounting for 4.14% of the portfolio, an increase of 1.11% from the previous quarter.
Apple (AAPL.US) ranks third, with approximately 183 million shares valued at about $45.829 billion, accounting for 3.41% of the portfolio, an increase of 2.06% from the previous quarter.
Amazon (AMZN.US) ranks fourth, with approximately 183 million shares valued at $40.122 billion, accounting for 2.99% of the portfolio, an increase of 1.76% from the previous quarter.
The SPDR S&P 500 ETF (SPY.US) ranks fifth, with approximately 53.19 million shares valued at $31.172 billion, accounting for 2.32% of the portfolio, a decrease of 6.16% from the previous quarter.
It is worth mentioning that among the top ten holdings, JP Morgan also significantly increased its holdings in Broadcom (AVGO.US) and Tesla (TSLA.US), adding 17.24 million shares and 4.27 million shares, respectively, representing increases of 28% and 14%. Previously, there were hopes that Trump's return to the White House and Musk's newfound political stature would pave the way for Tesla to achieve its ambition of manufacturing fully autonomous vehicles, leading to a surge in Tesla's stock price. However, this also raised concerns about detachment from fundamentals, and the stock has recently experienced consecutive declines Broadcom benefits from the artificial intelligence boom, with the company's overall growth and strategic position in achieving next-generation AI technologies supporting its strong performance. In mid-December, Broadcom released an earnings report that exceeded expectations, with the company's AI revenue for 2024 growing by 220% to reach $12.2 billion.
In the fourth quarter, Morgan Stanley initiated positions in KinderCare Learning Companies (KLC.US), Sunrise Communications (SNRE.US), among others, while liquidating positions in Palisade Bio (PALI.US), Orgenesis (ORGS.US), and other stocks.
During the quarter, Morgan Stanley increased its holdings in McDonald's (MCD.US), Salesforce (CRM.US), and Walmart (WMT.US), with the number of shares increasing by 24.26%, 31.05%, and 68.12%, respectively. Meanwhile, the bank reduced its holdings in Uber (UBER.US) and Chevron (CVX.US), with the number of shares decreasing by 27.52% and 20.64%, respectively.
From the changes in holding proportions, the top five buying targets were: Broadcom, Tesla, Amazon, NVIDIA, and Apple. The top five selling targets were: Eli Lilly (LLY.US), Microsoft, UnitedHealth (UNH.US), JPMorgan BetaBuilders Europe ETF (BBEU.US), and Regeneron Pharmaceuticals (REGN.US).
