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Livermore
Livermore
ZHEN

Pinebridge Investments, L.P.

SEC CIK
0001531721
Latest filing
Nov 14, 2025

The latest 13F from Pinebridge Investments, L.P. covers Q3 2025 (filed Nov 14, 2025): 524 long positions worth $13.4B. The top 10 holdings make up 39.8% of the portfolio, and the largest is NVIDIA Corp (NVDA) at 9.0%. Livermore has 19 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2025

Share counts compared with Q2 2025: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
54
Est. +$223.0M
Added
170
Est. +$1.89B
Reduced
282
Est. −$1.61B
Sold out
81
Est. −$288.3M

Top 5 holdings

Share of this quarter's portfolio value

  1. NVDANVIDIA Corp
    9.0%$1.20BHistory
  2. MSFTMicrosoft Corp
    7.3%$979.1MHistory
  3. AAPLApple Inc.
    5.8%$773.4MHistory
  4. GOOGLAlphabet Inc.
    3.7%$490.3MHistory
  5. METAMeta Platforms, Inc.
    3.1%$413.4MHistory

Share of portfolio

Top 5 holdings and the other 519 positions, by share of portfolio value

  1. NVDA9.0%
  2. MSFT7.3%
  3. AAPL5.8%
  4. GOOGL3.7%
  5. META3.1%
  6. Other 519 positions71.2%

Biggest buys

New and added positions, by estimated amount bought

  1. NVDANVIDIA Corp
    +$170.5MAddedHistory
  2. MSFTMicrosoft Corp
    +$145.8MAddedHistory
  3. UNPUnion Pacific Corp
    +$97.7MAddedHistory
  4. BACBank of America Corp
    +$57.9MAddedHistory
  5. GEGeneral Electric Co
    +$49.7MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. NVDANVIDIA Corp
    +1.86 pp7.1% → 9.0%History
  2. GOOGLAlphabet Inc.
    +1.00 pp2.7% → 3.7%History
  3. MSFTMicrosoft Corp
    +0.79 pp6.5% → 7.3%History
  4. AAPLApple Inc.
    +0.76 pp5.0% → 5.8%History
  5. UNPUnion Pacific Corp
    +0.68 pp0.9% → 1.6%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. LMTLockheed Martin Corp
    −$55.1MReducedHistory
  2. BRK.BBerkshire Hathaway Inc
    −$37.3MReducedHistory
  3. MOAltria Group, Inc.
    −$36.8MReducedHistory
  4. COFCapital One Financial Corp
    −$34.8MReducedHistory
  5. NEMNEWMONT Corp
    −$30.4MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. LMTLockheed Martin Corp
    −0.42 pp0.4% → <0.1%History
  2. BRK.BBerkshire Hathaway Inc
    −0.36 pp1.5% → 1.2%History
  3. COFCapital One Financial Corp
    −0.30 pp0.4% → 0.1%History
  4. MOAltria Group, Inc.
    −0.26 pp0.5% → 0.2%History
  5. INTUIntuit Inc.
    −0.24 pp0.8% → 0.5%History

Metrics

13F metrics for Q3 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$13.4B
+$1.12B (+9.1%) vs. prior quarter
Positions
524
−27 vs. prior quarter
Top 10 concentration
39.8%
Top 10 as share of value
Turnover
14.8%
Q3 2025, one quarter
Average holding period
16.1 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $13.4B (Q3 2025)

Q1 2021: $7.83BQ2 2021: $8.64BQ3 2021: $8.35BQ4 2021: $9.78BQ1 2022: $9.32BQ2 2022: $7.95BQ3 2022: $7.74BQ4 2022: $8.26BQ1 2023: $8.86BQ2 2023: $9.27BQ3 2023: $9.02BQ4 2023: $10.8BQ1 2024: $12.5BQ2 2024: $12.3BQ3 2024: $13.2BQ4 2024: $13.1BQ1 2025: $12.3BQ2 2025: $12.3BQ3 2025: $13.4B
Q1 2021Q3 2025
13F filings of Pinebridge Investments, L.P. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2025Nov 14, 2025524$13.4BNVDAMSFTAAPLvs. Q2 2025SEC
Q2 2025Aug 13, 2025551$12.3BNVDAMSFTAAPLvs. Q1 2025SEC
Q1 2025May 14, 2025712$12.3BAAPLMSFTNVDAvs. Q4 2024SEC
Q4 2024Feb 14, 2025707$13.1BNVDAMSFTAAPLvs. Q3 2024SEC
Q3 2024Nov 14, 2024722$13.2BMSFTNVDAAAPLvs. Q2 2024SEC
Q2 2024Aug 14, 2024552$12.3BMSFTNVDAAAPLvs. Q1 2024SEC
Q1 2024May 14, 2024571$12.5BMSFTNVDAAAPLvs. Q4 2023SEC
Q4 2023Feb 13, 2024550$10.8BMSFTAAPLNVDAvs. Q3 2023SEC
Q3 2023Nov 14, 2023677$9.02BMSFTAAPLiShares Trvs. Q2 2023SEC
Q2 2023Aug 11, 2023874$9.27BMSFTAAPLiShares Trvs. Q1 2023SEC
Q1 2023May 12, 2023737$8.86BAAPLMSFTiShares Trvs. Q4 2022SEC
Q4 2022Feb 9, 2023725$8.26BAAPLMSFTiShares Trvs. Q3 2022SEC
Q3 2022Nov 10, 2022724$7.74BAAPLMSFTiShares Trvs. Q2 2022SEC
Q2 2022Aug 5, 2022722$7.95BMSFTAAPLiShares Trvs. Q1 2022SEC
Q1 2022May 12, 2022726$9.32BMSFTAAPLiShares Trvs. Q4 2021SEC
Q4 2021Feb 10, 2022788$9.78BMSFTAAPLiShares Trvs. Q3 2021SEC
Q3 2021Nov 9, 2021580$8.35BMSFTAAPLiShares Trvs. Q2 2021SEC
Q2 2021Aug 13, 2021644$8.64BMSFTAAPLAMZNvs. Q1 2021SEC
Q1 2021May 14, 2021644$7.83BMSFTAAPLAMZN–SEC