Core Insights - UBS reported a total market value of $540 billion in its Q1 2025 holdings, remaining stable compared to the previous quarter [1][2] - The firm added 1,239 new stocks to its portfolio, increased holdings in 4,632 stocks, reduced holdings in 4,025 stocks, and completely sold out of 944 stocks [1][2] - The top ten holdings accounted for 14.36% of the total market value [1][2] Holdings Summary - The top five holdings include Apple (AAPL) with approximately 60.7 million shares valued at $13.49 billion (2.48% of the portfolio), Microsoft (MSFT) with about 32.9 million shares valued at $12.35 billion (2.27%), Nvidia (NVDA) with around 101.4 million shares valued at $10.99 billion (2.02%), Amazon (AMZN) with approximately 37.6 million shares valued at $7.15 billion (1.31%), and SPDR S&P 500 ETF (SPY) with about 12.8 million shares valued at $7.14 billion (1.31%) [3][4] - Notably, SPY saw a significant increase in holdings by 27.95% compared to the previous quarter [3][4] Trading Activity - The turnover rate for the portfolio was 19.64%, with an alternative turnover rate of 8.64% [2] - The average holding period for the top 20 stocks was approximately 20.95 quarters, while the top 10 stocks had an average holding period of 21 quarters [2] Buying and Selling Trends - The top five purchases included SPDR S&P 500 ETF put options, iShares iBoxx High Yield Corporate Bond ETF put options, SPDR S&P 500 ETF, SPDR Gold Shares ETF, and Berkshire Hathaway [4][6] - The top five sales included Microsoft, Apple, Google, Tesla, and iShares iBoxx Investment Grade Corporate Bond ETF call options [5][6]

Core Insights - Citigroup submitted its 13F filing for the first quarter ending March 31, 2025, reporting a total market value of $196 billion, up approximately 16% from $169 billion in the previous quarter [1][2]. Holdings Summary - The fund added 349 new stocks, increased holdings in 2,259 stocks, reduced holdings in 2,635 stocks, and completely sold out of 632 stocks [1][2]. - The top ten holdings accounted for 24.36% of the total market value [1][2]. Top Holdings - The largest position was in Invesco QQQ Trust (PUT), with 25.54 million shares valued at approximately $11.98 billion, representing 6.12% of the portfolio, and a significant increase of 306.29% in shares held [3][6]. - NVIDIA (NVDA) was the second-largest holding, with 51.32 million shares valued at about $5.56 billion, making up 2.84% of the portfolio, and an increase of 48.34% in shares held [4][6]. - Apple (AAPL) ranked third, holding 24.38 million shares valued at approximately $5.42 billion, which is 2.77% of the portfolio, with a 62.57% increase in shares held [5][6]. - Microsoft (MSFT) was fourth, with 13.16 million shares valued at about $4.94 billion, accounting for 2.52% of the portfolio, and a 75.93% increase in shares held [5][6]. - The fifth position was in SPDR Gold ETF (CALL), with 13.89 million shares valued at approximately $4.00 billion, representing 2.05% of the portfolio, with a decrease of 2.26% in shares held [5][6]. Notable Changes - The top five purchases by percentage change included Invesco QQQ Trust (PUT), iShares 20+ Year Treasury (TLT), SPDR S&P 500 ETF (SPY), iShares 20+ Year Treasury (CALL), and Microsoft [6][8]. - The top five sales by percentage change included Tesla (PUT), iShares Russell 2000 (PUT), NVIDIA (PUT), Carvana (PUT), and Apple (PUT) [7][8].