Gf Fund Management 13F: Cuts Broadcom (AVGO) Stake by $48M
Key Points
- Gf Fund Management cut its stake in Broadcom by 135,298 shares, resulting in a 21.6% decrease in its position valued at approximately $172.2 million.
- Gf Fund Management held 490,462 $AVGO shares at quarter end, down 21.62% from the prior quarter.
- Broadcom shares recently traded around $329.28, which is about equal to the closing price of $329.17 on the filing date.
- The company has a market cap of $1.54 trillion and a P/E ratio of 42.9, reflecting its strong performance in the semiconductor industry.
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On October 26, 2026, Gf Fund Management reduced its stake in Broadcom Inc. (AVGO) by 135,298 shares, bringing its total to 490,462 shares. This cut represents a 21.6% decrease in their position, valued at approximately $172.2 million, according to the fund's latest Form 13F filing with the SEC.
AVGO
Broadcom Inc.
Where Gf Fund Management's Broadcom Position Fits
Gf Fund Management now holds 4.05% of its reported portfolio in Broadcom, ranking it 9th among its 616 positions.
Other Institutional Activity in Broadcom
Bernardo Wealth Planning increased its holdings in Broadcom by 3,899 shares, bringing its total to 7,022 shares worth about $2.5 million. Similarly, UniSuper Management raised its stake by 47,938 shares, totaling 1,612,819 shares valued at approximately $566.4 million.
Broadcom Inc. Stock Up 2.4%
Broadcom shares recently traded around $329.28, which is about equal to the closing price of $329.17 on October 26, 2026. The stock is currently below its 50-day moving average of $356.76 and is down about 33.5% from its 52-week high of $495.00.
Recent Earnings
Broadcom reported trailing twelve-month revenue of approximately $89.1 billion, with a net margin of 42.9% and a return on equity of 44.2%. The next earnings report is scheduled for December 9, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
14 target raises vs 1 cuts.
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EPS & revenue
EPS met estimates. Revenue missed estimates by 2.3%.
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Profit surprise
EBITDA missed by 14 percent. Operating income missed by 28 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
1 downgrade, 14 target raises, 1 target cut.
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Earnings quality
Gross margin down 0.7 points. Operating margin up 10.1 points. Positive free cash flow.
Earnings Call Summary
Broadcom reported record quarterly revenue of $22.2 billion, up 48 percent from last year, driven by massive AI chip demand. AI chip sales alone hit $10.8 billion, up 143 percent, with bookings exceeding $30 billion against only $10.8 billion shipped, showing extreme customer demand. The company is executing partnerships with Google, Anthropic, OpenAI, and Meta to build large-scale AI compute clusters, with multiple gigawatt commitments starting to ramp in 2027 and beyond.
Guidance The company expects total sales of about $29.4 billion next quarter, up 84 percent year over year. Within that, AI chip sales should hit $16 billion, up over 200 percent. The company also raised its full-year AI sales target to $56 billion and reiterated guidance for 2027 AI sales to exceed $100 billion. Operating margins will stay stable at 67 percent even as the company grows.
Neutral report. Results and guidance were close to expectations, with limited evidence of a reset either way.
Dividend
Broadcom pays an annual dividend of $2.60 per share, yielding about 0.81%. The dividend payout ratio stands at 32.4%.
Insider Buying and Selling at Broadcom Inc.
Several insiders have sold shares recently. For instance, Justine F. Page, a Director, sold 1,602 shares at an average price of $373.86 on June 29, 2026, amounting to about $598,916. Mark David Brazeal, an Officer, sold 25,000 shares at an average price of $379.19 on July 8, 2026, valued at approximately $9.5 million. Another sale by Brazeal occurred on July 10, where he sold another 25,000 shares at $401.33, totaling about $10 million.
Analysts Set New Price Targets
On October 22, 2026, Tigress Financial initiated coverage on Broadcom with a buy rating and a price target of $600. Earlier, on September 3, Macquarie upgraded the stock to outperform with a target of $490. The consensus rating is a strong buy, with a mean price target of $529.1 from 48 analysts.
About Broadcom
Broadcom Inc. designs and supplies various semiconductor devices and infrastructure software solutions globally. This move by Gf Fund Management reflects a strategic adjustment in its investment in the semiconductor sector, which has seen mixed performance recently.
Bottom Line
Investors should monitor Broadcom's upcoming earnings report on December 9, 2026, and further filings that may reveal additional changes in institutional holdings. Gf Fund Management's recent cut indicates a shift in their investment strategy regarding Broadcom.
Related Filing Alerts
Source: Gf Fund Management's 13F filing on $AVGO (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts