BDF-Gestion Dumps 39,000 AMD Shares Worth $6.4 Million

On Oct. 9, 2025, BDF-GESTION disclosed it sold 39,327 shares of Advanced Micro Devices (NASDAQ:AMD) in Q3 2025, an estimated $6.35 million transaction.

What happened

BDF-Gestion disclosed in a U.S. Securities and Exchange Commission (SEC filing) dated Oct. 9, 2025, that it sold 39,327 shares of Advanced Micro Devices in Q3 2025. The trade’s estimated value, based on the average closing price for the period, was approximately $6.35 million. As of Sept. 30, 2025, the fund reported holding 32,997 shares worth $5.34 million.

What else to know

BDF-Gestion’s AMD position now accounts for 0.63% of its 13F AUM following the third-quarter sale.

Top holdings after the filing:

• Nvidia: $89.5 million (10.7% of AUM) as of September 30, 2025
• Microsoft: $78.5 million (9.4% of AUM) as of September 30, 2025
• Apple: $75.5 million (9.0% of AUM) as of September 30, 2025
• Broadcom: $37.8 million (4.5% of AUM) as of September 30, 2025
• Meta Platforms: $35.9 million (4.3% of AUM) as of September 30, 2025

As of Oct. 10, 2025, AMD shares were priced at $214.9, up 28% over the past year, outpacing the S&P 500 by 15.3 percentage points

Company Overview

Company Snapshot

AMD offers x86 microprocessors, discrete and integrated GPUs, server and embedded processors, chipsets, and semi-custom System-on-Chip (SoC) products, with key brands including AMD Ryzen, Radeon, and EPYC.

The company generates revenue primarily through the sale of computing and graphics products for PCs, data centers, and gaming consoles, as well as custom solutions for enterprise and embedded markets.

It serves original equipment manufacturers, cloud service providers, system integrators, and online retailers globally.

Advanced Micro Devices is a leading global semiconductor company with a diversified product portfolio spanning CPUs, GPUs, and custom SoC solutions.

Foolish take

BDF-Gestion slashed its AMD holdings by more than half in Q3. The firm also trimmed its other large tech names that rank in the top five holdings. So the sales likely indicate a desire by the French investment management firm to lock in 2025 profits.

The timing was unfortunate, though. The average price for AMD shares in Q3 was $192 per share. On Oct. 6, AMD and ChatGPT creator OpenAI announced a strategic partnership that seeks to deploy six gigawatts of AMD's graphics processing units (GPUs). That sent shares soaring. Even after pulling back from those highs, the stock has jumped by 38% over the last month.

The deal could also give OpenAI an eventual 10% stake in AMD. It remains to be seen how much that deal will pay off for AMD, but the short-term reaction gave shareholders a nice boost.

That stock reaction is a good example of why investors might want to buy or sell in stages. BDF-Gestion sold about half its AMD shares in Q3, but even if it has lost conviction in the name, it still had about half left to sell after the stock's recent jump on the OpenAI deal news.

Glossary

13F: A quarterly SEC filing required from institutional investment managers to disclose their equity holdings.
AUM: Assets Under Management; the total market value of investments managed by a fund or firm.
Stake: The amount of ownership or shares held in a particular company by an investor or fund.
Top holdings: The largest investments by value within a fund's portfolio.
System-on-Chip (SoC): An integrated circuit that combines multiple computing components onto a single chip.
x86 microprocessors: A family of computer processors based on the x86 instruction set architecture, widely used in PCs and servers.
Discrete GPU: A standalone graphics processing unit separate from the main processor, used for advanced graphics tasks.
Integrated GPU: A graphics processor built into the same chip as the main processor, sharing system resources.
Embedded processors: Specialized chips designed for dedicated functions within larger electronic systems.
Cloud service providers: Companies offering computing resources and services over the internet, such as storage and processing power.
Original equipment manufacturers (OEMs): Companies that produce parts or equipment used in another company's end products.
TTM: The 12-month period ending with the most recent quarterly report.

Howard Smith has positions in Apple, Broadcom, Microsoft, and Nvidia and has the following options: short October 2025 $160 calls on Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, Meta Platforms, Microsoft, and Nvidia. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.