Invesco strongly supports the AI investment theme! In Q1, it heavily invested to increase holdings in the seven giants of U.S. stocks, with a significant increase in Tesla's position

According to the disclosure by the U.S. Securities and Exchange Commission (SEC), global asset management giant Invesco submitted its first-quarter U.S. stock holdings report (13F) for the period ending March 31, 2025.

As per the latest statistics, Invesco's total market value of holdings in Q1 reached USD 530 billion, a slight decline of 1.8% from approximately USD 540 billion in the previous quarter. Invesco added 130 new stocks to its portfolio in the first quarter of 2025 and increased its holdings in 1,800 stocks. At the same time, the asset management giant reduced its holdings in 1,761 stocks and completely exited 120 stocks. The top ten holdings accounted for 17.15% of the total market value of U.S. stock holdings.

In Invesco's top ten holdings as of the first quarter, the industry allocation is relatively concentrated, focusing on the information technology (IT) and communications sectors. Invesco continued its investment style from 2023, which primarily emphasizes increasing holdings in technology stocks, especially consistently adding to the positions in the seven major technology giants (the Magnificent Seven) during turbulent times in the U.S. stock market. These include: Apple, Microsoft, Google, Tesla, NVIDIA, Amazon, and Facebook's parent company Meta. The so-called seven major technology giants, which hold significant weight in the S&P 500 and NASDAQ 100 indices, have been the core driving force behind the long-term bull market in U.S. stocks since 2023.

Among Invesco's top ten holdings as of the first quarter, all except for chip giant Broadcom saw increased positions, with Tesla, a leader in the global electric vehicle and autonomous driving and humanoid robotics sectors, receiving the largest increase in holdings.

Microsoft (MSFT.US), known as the "leader in AI application software," ranks as Invesco's largest holding, rising from the second-largest holding in the previous quarter to the top position. Microsoft has consistently been Invesco's top holding since 2023, with approximately 40.13 million shares held in the first quarter, valued at about USD 15.1 billion, accounting for 2.85% of Invesco's portfolio, an increase of 2.26% from the previous quarter.

Apple (AAPL.US) ranks second, with approximately 66.87 million shares held, valued at about USD 14.9 billion, accounting for 2.81% of the portfolio, an increase of 1.47% from the previous quarter.

NVIDIA (MVDA.US) ranks third, with approximately 132 million shares held, valued at about USD 14.4 billion, accounting for 2.72% of the portfolio, an increase of 2.14% from the previous quarter.

Amazon (AMZN.US) ranks fourth, with approximately 59.94 million shares held, valued at about USD 11.4 billion, accounting for 2.16% of the portfolio, with a slight increase of 4.08% in the number of shares from the previous quarter So far this year, among the seven major technology giants in the U.S. stock market, the strongest performer is Facebook's parent company Meta (NVDA.US), which ranks fifth in terms of holdings, with approximately 17.67 million shares and a market value of about $10.2 billion. The number of shares held has increased by 2.32% compared to the previous quarter, accounting for 1.93% of the investment portfolio.

As of the first quarter, the sixth to tenth largest holdings of global asset management giant Invesco are: Google (GOOGL.US), Broadcom (AVGO.US), Netflix (NFLX.US), Tesla (TSLA.US), and Visa (V.US). Among them, all except Broadcom have been increased by Invesco, highlighting the firm’s long-standing bullish stance on the seven giants of the U.S. stock market. The number of shares held in Tesla has significantly increased by 17.58% compared to the previous quarter, followed by streaming giant Netflix, which saw an increase of 8.28%.

If Invesco made large-scale bottom-fishing purchases of Tesla at relatively low levels at the end of the first quarter, it could benefit from the strong surge since April. Since the end of March, Tesla's stock price has risen more than 30%, mainly due to the global AI investment logic being fully restored after Trump's visit to the Middle East, as well as the significant easing of trade frictions between China and the U.S., which has increased risk appetite.

From the funding trends of Invesco's significant increase in holdings of the seven major technology giants in the U.S. stock market in the first quarter—especially its growing preference for Microsoft, Nvidia, Amazon, and Tesla, this asset management giant clearly recognizes the "AI investment logic," which suggests that the sustained strong demand for AI computing infrastructure and AI application software is expected to drive the performance and valuation of related technology companies into a new growth trajectory. This is also the core logic behind the seven major technology giants' continued leadership in the U.S. stock market since 2023.

The "AI investment logic" has recently been rekindled in global stock markets, or rather, AI has regained global funding focus and favor as the hottest investment theme since 2023. This is also an important logic behind the rebound in Tesla's stock price, which has been deeply engaged in the AI field in recent years.

Tesla, led by the world's richest man Elon Musk, has developed an increasingly mature fully autonomous driving version FSD based on its AI supercomputing system, as well as a fully autonomous Robotaxi system based on FSD, which keeps Tesla consistently among the "popular AI concept stocks." Tesla's ongoing diversification into cutting-edge technology fields such as artificial intelligence (AI) and humanoid robots is also the core logic for some investment institutions' long-term bullish outlook on Tesla's stock price. Morgan Stanley even has a bullish outlook for Tesla's stock price to reach $410

From the changes in holding ratios, the top five buying targets of global asset management giant Invesco as of the first quarter are: Invesco S&P 500 Revenue ETF (RWL.US), Visa, Netflix, CVS Health Corp (CVS.US), and Cencora Inc (COR.US).

In terms of changes in holding ratios, the top five selling targets of global asset management giant Invesco as of the first quarter are**: Broadcom, Marvell Technology (MRVL.US), Trade Desk (TTD.US), Salesforce (CRM.US), and Invesco S&P 500 Pure Value ETF (RPV.US)