Money Flows
Are the giants adding or pulling back, and which sectors get the money. Long charts start in 1999, when only a dozen or so giants qualified; they were picked with hindsight, so the earlier the year, the stronger the survivorship bias.
The Giants Were Net Sellers of about $1.3B This Quarter
Last 20 quarters; bars are estimated values, dots are the net.
How to Read This
Estimated value = change in shares × (start price + end price) ÷ 2. 13F does not show actual trade prices, so these are approximate.
Buying Pressure, One Giant One Vote
Average net deployment = each giant’s estimated net buying ÷ its own portfolio, averaged; net buyers = share of giants that bought more than they sold.
How to Read This
Above zero means the average giant was adding; above 50% net buyers means most of them were. Every giant counts once here, so a huge portfolio such as Berkshire’s cannot dominate.
Average Net Deployment
Net Buyers
Where the Money Went
Estimated net buying by sector, last 12 quarters; click a sector for details.
| Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Information technology | −$7.0B | −$4.1B | −$23.8B | −$77.0B | −$26.5B | −$5.9B | −$4.2B | −$5.6B | −$13.4B | −$6.1B | +$2.6B | +$2.1B |
| Financials | −$2.8B | −$4.2B | −$11.1B | −$12.3B | −$6.3B | −$1.3B | −$6.1B | −$4.1B | ||||
| Communication & media | +$2.4B | −$3.3B | +$1.5B | −$1.7B | +$2.1B | |||||||
| Consumer discretionary | −$2.0B | −$2.0B | −$2.9B | +$1.7B | −$2.2B | −$2.0B | −$1.8B | |||||
| Industrials | −$2.2B | −$2.6B | +$3.6B | +$2.9B | −$1.2B | +$2.6B | ||||||
| Health care | +$2.6B | −$1.6B | +$1.3B | |||||||||
| Energy | −$1.9B | +$4.1B | +$1.3B | −$9.2B | +$1.4B | |||||||
| Consumer staples | −$1.3B | +$2.3B | −$3.6B | |||||||||
| Materials | −$1.0B | +$1.4B | ||||||||||
| Real estate | ||||||||||||
| Utilities | −$1.5B |
Sector Mix of the Composite
From 2013 (many earlier delisted companies cannot be classified); sectors follow SEC industry codes, and everything outside the top seven is grouped as Other.
Crowding and Activity
How to Read This
Consensus concentration = combined weight of the top 10 in the composite; higher means the giants crowd into the same few names. Turnover = the smaller of buying and selling ÷ the average portfolio, one giant one vote.
Consensus Concentration
Average Turnover
Which Style Is Buying
Average net deployment by style, last 20 quarters.
Moves, Not Money
Count of new and added positions vs trimmed and sold-out positions, last 20 quarters.
Giants Counted Each Quarter
The roster is recomputed every quarter with the same rules; early years have few giants, so one giant can move the totals.