Cautious bullish? Bank of America increased its holdings in tech giants in Q1, while heavily buying the S&P 500 ETF and put options
Bank of America’s position report for the first quarter of 2025 shows a total market value of USD 1.24 trillion, an increase from the previous quarter. It added 634 stocks, increased holdings in 4,520 stocks, reduced holdings in 2,694 stocks, and completely liquidated 500 stocks. The top five holdings are Microsoft, Apple, NVIDIA, Vanguard Value ETF, and Vanguard Growth ETF. Bank of America also significantly bought into the S&P 500 ETF and put options, indicating a cautious bullish stance
According to the disclosure by the U.S. Securities and Exchange Commission (SEC), Bank of America submitted its first-quarter holdings report (13F) for the period ending March 31, 2025.
Statistics show that Bank of America's total market value of holdings in the first quarter reached $1.24 trillion, compared to $1.19 trillion in the previous quarter. In the first quarter, Bank of America added 634 new stocks to its portfolio and increased its holdings in 4,520 stocks. At the same time, Bank of America reduced its holdings in 2,694 stocks and completely sold out of 500 stocks. Among these, the top ten holdings of Bank of America accounted for 15.76% of the total market value.
In the top five holdings, Microsoft (MSFT.US) ranked first, with approximately 73.126 million shares held, a market value of about $27.45 billion, accounting for 2.22% of the portfolio, an increase of 7.42% from the previous quarter.
Apple (AAPL.US) ranked second, with approximately 122 million shares held, a market value of about $27.09 billion, accounting for 2.19% of the portfolio, an increase of 2.67% from the previous quarter.
NVIDIA (NVDA.US) ranked third, with approximately 210 million shares held, a market value of about $22.74 billion, accounting for 1.84% of the portfolio, an increase of 19.97% from the previous quarter.
Vanguard Value ETF (VTV.US) ranked fourth, with 124 million shares held, a market value of about $21.47 billion, accounting for 1.73% of the portfolio, an increase of 3.36% from the previous quarter.
Vanguard Growth ETF (VUG.US) ranked fifth, with 48.536 million shares held, a market value of about $18 billion, accounting for 1.45% of the portfolio, an increase of 11.77% from the previous quarter.
In terms of changes in holding ratios, the top five purchased stocks were: SPDR S&P 500 ETF put options (SPY.US, PUT), iShares Russell 2000 ETF put options (IWM.US, PUT), iShares S&P 500 ETF, iShares Core MSCI EAFE ETF (IEFA.US), and SPDR Portfolio S&P 500 ETF (SPLG.US).
The top five sold stocks were: Apple call options (AAPL.US, CALL), Nasdaq 100 ETF put options (QQQ.US, PUT), iShares Core U.S. Treasury Bond ETF (GOVT.US), Tesla call options (TSLA.US, CALL), and iShares Russell 1000 Growth ETF
It is worth noting that in addition to increasing holdings in the top three major stocks, Bank of America also increased its positions in technology giants such as Amazon (AMZN.US), Google (GOOGL.US), Broadcom (AVGO.US), and Meta (META.US) in the first quarter.
