What Hedge Funds Are Buying Now: Q3 2025 AI Infrastructure & Energy Stocks

Published: November 10, 2025

Based on Q3 2025 13F filings submitted to the U.S. Securities and Exchange Commission (filed between October 15 and November 14), major quantitative hedge funds such as Renaissance Technologies, Citadel LLC, and Two Sigma Investments appear to have increased their holdings in AI infrastructure-related stocks by an estimated ~30–35%.

But here’s the twist: while many retail investors zero in on chip makers and cloud platforms, these firms also seem to be positioning in power, utilities, and energy infrastructure – the backbone that enables the AI boom.

Why Institutional Money Is Flooding Energy & Infrastructure Stocks

• Data centers in the U.S. consumed about 4.4% of total U.S. electricity in 2023.
  Sources: Data Center Dynamics, Berkeley Lab News Center
• Forecasts suggest that by 2028, that share could reach 6.7–12% of U.S. electricity depending on AI workload growth, efficiency gains, and grid expansion.
  Sources: U.S. Department of Energy, Reuters
• Global research from Goldman Sachs projects data-center power demand could rise ~160–165% by 2030 vs. 2023 levels.
• Each new large AI data center demands not just compute hardware, but massive, reliable power generation and transmission capacity.
• Utilities, power plants (including nuclear/natural gas), and data-center real estate are becoming core enablers and hedge funds appear to be building exposure ahead of many retail investors.

Which Hedge Funds Are Buying AI Infrastructure Stocks Right Now

Here are select Q3 2025 positions, from public 13F filings and aggregate reports:

Source: Public 13F filings and aggregators (data rounded).

Notice the pattern: yes, the obvious chip/infrastructure plays (NVDA, AVGO, TSM), but also data-center operators (EQIX, DLR), showing institutions are buying the full stack: compute, real estate, and power infrastructure.

The Energy & Utility Angle Retail Investors Overlook

Institutions are quietly increasing allocations to power and utility companies, the infrastructure that actually powers AI, cloud, and data centers.

Source: Public 13F filings and institutional ownership data.

Catalyst summary:

• Data centers require massive, continuous power.
• The U.S. grid’s growth has been relatively flat for ~20 years with a sudden AI-driven surge = potential bottlenecks.
• Institutions realized these “boring” power and infrastructure firms could generate outsized returns as supply constraints emerge.
• Retail investors are still focused on “sexy tech” (chips and cloud), while the infrastructure plays build quietly.

Why This Matters for Retail Investors

13F filings show where institutions were positioned ~45 days ago — but by then, many trades are already priced in.

That’s why real-time institutional signals like dark-pool flow, options activity, and unusual trading patterns matter more.

The “AI theme” isn’t just chips and cloud. It’s the entire infrastructure stack:
✅ Compute hardware
✅ Real-estate ecosystems
✅ Power & utility infrastructure

Neglecting any of these layers could mean missing the next major tailwinds.

What to Watch Heading into Q4 2025

AI Infrastructure Category

• Equinix, Inc. (EQIX) data-center REITs showing accumulation
• Digital Realty Trust, Inc. (DLR) major operator; unusual call-option activity
• Arista Networks, Inc. (ANET) data-center networking gear; increased fund interest

Energy & Utilities Category

• Vistra Corp. (VST) strong institutional buying + baseline power provider
• Constellation Energy (CEG) expanding AI power deals
• Talen Energy (TLN) built around AI-data-center supply contracts

High-Conviction Themes

• Nuclear revival: 24/7 baseload power for hyperscale data centers
• Data-center real-estate scarcity and pricing power
• Grid and transmission upgrades + behind-the-meter power solutions

Key Takeaways

• Institutions increased AI-infrastructure holdings by ~30–35% in Q3 2025, led by major quant funds.
• The “power” behind AI, utilities and infrastructure, remains underappreciated by retail investors.
• Data centers already use ~4.4% of U.S. electricity and could reach 6.7–12% by 2028.
• 13F filings show the past, real-time signals reveal what’s coming next.
• The full AI stack includes compute hardware → operators → power infrastructure.

Closing

The information asymmetry is real: retail investors often get the headlines, while institutions quietly accumulate the “infrastructure layer” of AI.

At Prospero.ai, our mission is to give everyday investors access to institutional-grade signals like dark pools, options flow, and accumulation patterns so you’re never late to the move.

Stay ahead. Because by the time the 13F hits the SEC, the trade may already be priced in.

Track where institutional money is flowing next with Prospero’s advanced signal analytics. Explore now at prospero.ai

Disclaimer: This article is for informational and educational purposes only and should not be considered investment advice. All stock picks and examples are illustrative. Past performance does not guarantee future results. Trading and investing involve risk of loss. Always conduct your own research or consult a qualified financial advisor before making investment decisions.

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