(As of December 12, 2025 | Post Q4 2025 earnings and recent insider sales)
Current market capitalization: ≈ $1.92 trillion (based on ~$406.37/share and 4.72 billion shares outstanding)
Introduction
Broadcom Inc. (NASDAQ: AVGO), founded in 1961 and headquartered in Palo Alto, California, is a leading designer and supplier of semiconductors and infrastructure software solutions, powering AI accelerators, networking, broadband, and enterprise storage. Public since 2009 (post-mergers including Avago and VMware in 2023), it features a single-class share structure (one vote per share) for aligned governance. Ownership is institutionally heavy (~77%), with insiders ~2%, and retail/float ~21%. No majority holder dominates, reflecting broad market confidence in its AI pivot. The table below details the top 10 economic shareholders from Q3 2025 13F filings (Sep 30, 2025) and SEC data, with values at current market cap. Recent activity includes $376M in insider sales over the past year (e.g., CEO Hock Tan) and $10B quarterly buybacks reducing shares by ~0.5% YoQ.
| Rank | Owner / Stakeholder | Ownership % | Approx. Value ($1.92T valuation) | Detailed Notes |
|---|---|---|---|---|
| 1 | Vanguard Group Inc. | 10.14% | $194.7 billion | Largest holder via index funds (e.g., VTI, VOO); owns ~478.8M shares. Passive investor with ~$9.3T AUM; trimmed ~1% in Q3 2025 but remains core S&P 500 weighting (~6%). No direct control; focuses on AI/semiconductor growth. |
| 2 | BlackRock Inc. | 8.00% | $153.6 billion | Holds ~377.9M shares through iShares ETFs (e.g., IVV); passive/active mix. Added ~0.4% in Q3 2025; board observer on governance/ESG. Key in AI-themed funds; AVGO ~4% of portfolio. |
| 3 | JPMorgan Chase & Co. | 3.98% | $76.4 billion | ~187.9M shares across asset management; index/active blend. Up ~1.2% in 2025; provides banking/debt services for AVGO's $92B liabilities and capex. |
| 4 | State Street Corporation | 3.92% | $75.3 billion | Owns ~185.0M shares via SPDRs (e.g., SPY); fully passive. Stable QoQ; votes proxies on exec comp and antitrust. Represents ~5% of tech holdings; supports $10B buyback program. |
| 5 | Capital International Investors | 3.10% | $59.5 billion | ~146.5M shares in growth strategies; active manager. Trimmed ~2% in Q3 on valuation but holds for custom AI ASICs. Advisory on R&D; ~3% of portfolio. |
| 6 | Capital World Investors | 2.87% | $55.1 billion | ~135.6M shares across funds; active with minor Q3 sales (~$27M). Bullish on VMware integration (26% YoY software revenue); board input on acquisitions. |
| 7 | FMR LLC (Fidelity) | 2.56% | $49.1 billion | ~120.8M shares in mutual funds (e.g., Contrafund); active, added ~$86M in last 24 months. Focuses on AI networking (74% YoY Q4 growth); advisory on ethics. |
| 8 | Geode Capital Management, LLC | 2.00% | $38.4 billion | Fidelity affiliate with ~94.5M shares in index trackers; passive. Grew ~0.5% in Q3; tracks Nasdaq 100; minimal voting power. |
| 9 | Hock E. Tan (President & CEO) | 0.03% | $0.6 billion | ~1.21M shares (direct/indirect); largest active insider. Recent sales (~$10.8M in Dec 2024); oversees AI strategy since 2006; net worth tied to performance. |
| 10 | Henry Samueli (Co-Founder & Director) | 1.81% | $34.8 billion | ~85.6M shares (mostly indirect via trusts); key legacy holder. Sold ~$128M in Dec 2025; retains board influence on innovation; aligned with long-term vision. |
Total Top 10 = ~37.41% | Remaining: Other Institutions (~40%), Other Insiders (~0.16%, e.g., Kirsten Spears CFO at ~0.005%), Retail (~21%), Float Adjustments (~2%) | Grand Total = 100%
Conclusion
As of December 2025, Broadcom's ownership is institutionally anchored (~77% total) by passive leaders like Vanguard and BlackRock, providing stability for its record $64B FY2025 revenue (up 24% YoY, 58% from semiconductors) and $18B net income (up 35% YoY), fueled by AI (74% Q4 growth to $6.2B). Insiders (~2% combined) like Tan and Samueli ensure execution amid expansions (e.g., $10B Anthropic order), while retail's ~21% stake highlights AI enthusiasm. With $1.92T market cap (up 69% YoY), $10B dividend hike to $0.65/share, and $7.5B remaining buybacks (15th consecutive increase), expect ~0.5% annual share reductions and minor rebalancing in Q1 2026 13Fs. This structure balances AI dominance with returns, though valuation (95x forward P/E) and customer concentration (40% from top 5) pose risks. For filings, visit SEC EDGAR or Broadcom's investor relations.