Capital Group's 13Fs: Micron Cut 38%, Intel Raised to $12.7 Billion

Capital Group cut its Micron stake by 38% and its Nvidia holding by 19% in one investment division, while a sister division poured money into Intel, lifting that position 44% to a $12.7 billion stake at Sept. 30, according to Form 13F filings made Nov. 12.

The Los Angeles manager of the American Funds filed updates for two of its three divisions. MLQ.ai compared each filing against the division's June 30 report. The two units pick stocks independently, and last quarter they sometimes moved in opposite directions on the same name.

Capital World Investors reported $824.4 billion across 648 positions at Sept. 30, down from $846.4 billion. Capital Research Global Investors reported $704.4 billion across 424 positions, down from $716.9 billion. A third division, Capital International Investors, files separately and is not covered here. A 13F is only a quarter-end snapshot of long U.S.-listed positions; it says nothing about trading since Sept. 30.

Where did Capital World Investors cut?

Memory and AI hardware took the biggest hits. Micron fell to 18.3 million shares from 29.5 million, and the stake's value dropped to $19.5 billion from $34.0 billion as the implied price slipped too. Nvidia was cut 19% to 88.8 million shares worth $20.3 billion.

The division also trimmed Meta by 11%, IBM by a third and Booking Holdings by 40%. Broadcom remained its largest holding at $43.4 billion, ahead of Microsoft at $28.3 billion.

Not everything semiconductor-adjacent got sold. Arista Networks nearly tripled to 10.2 million shares, AMD rose to 3.46 million from 1.30 million, Western Digital climbed 30% to a $9.8 billion stake and Skyworks Solutions grew roughly fivefold to 15.17 million shares. Apple rose 15% to 45.1 million shares. HubSpot, Grab, Kanzhun and Wise were sold out entirely.

Stock	June 30	Sept 30	Change	Value
Micron	29.47M	18.27M	-38%	$19.45B
Nvidia	109.13M	88.82M	-19%	$20.29B
Meta	40.88M	36.31M	-11%	$26.33B
IBM	16.21M	10.94M	-33%	$2.41B
Booking	20.61M	12.45M	-40%	$2.03B
Western Digital	16.60M	21.52M	+30%	$9.78B
Arista	3.71M	10.20M	+175%	$2.08B
AMD	1.30M	3.46M	+166%	$2.12B
Skyworks	2.92M	15.17M	+420%	$1.30B
Apple	39.34M	45.10M	+15%	$15.02B

What did the other division buy?

Capital Research Global Investors raised Intel to 105.9 million shares from 73.7 million — $12.7 billion at quarter end — and lifted its main Oracle common-stock line 70% to 67.6 million shares worth $9.3 billion. It also added to Nvidia, now 212.3 million shares worth $48.5 billion, just behind Microsoft at $48.6 billion as its largest holding.

The division opened two new positions: 3.16 million SK hynix shares worth $582 million, and 2.91 million ServiceNow shares worth $390 million. It increased Meta, Arista, Seagate and SpaceX — SpaceX jumped 78% to 18.62 million shares worth $2.8 billion.

On the sell side, chip equipment took the damage. Applied Materials was cut 29% to 15.8 million shares from 22.2 million. Lam Research was sold outright — 1.70 million shares worth $738 million at June 30 — along with entire holdings in AMD ($630 million), Qualcomm and Lumentum. It also halved Royal Caribbean and trimmed Eli Lilly, Apple and Broadcom.

Stock	June 30	Sept 30	Change	Value
Intel	73.75M	105.89M	+44%	$12.73B
Oracle	39.75M	67.56M	+70%	$9.28B
Nvidia	202.74M	212.29M	+5%	$48.48B
Arista	13.16M	21.15M	+61%	$4.31B
SpaceX	10.44M	18.62M	+78%	$2.81B
SK hynix	0	3.16M	New	$0.58B
Applied Materials	22.16M	15.79M	-29%	$8.08B
Royal Caribbean	34.26M	17.15M	-50%	$4.56B
Eli Lilly	20.87M	17.00M	-19%	$19.67B
Lam Research	1.70M	0	Exited	—

Do the two divisions net out?

Not cleanly. Capital Research Global Investors trimmed Applied Materials, but Capital World Investors added 1.3 million shares, leaving the group's combined holding down about 5.1 million shares. On Micron, the second division actually raised its smaller holding to 4.3 million shares from 3.8 million — but across both units, Capital Group's Micron shares still fell 32%.

The Applied Materials cut landed the same day the equipment maker reported record quarterly revenue on Nov. 12. The next 13F round, due in mid-February, will show whether the Intel build and the memory trim continued into year-end.