However, as the stock continues to soar, hedge funds linked to Dan Loeb, George Soros, and Stanley Druckenmiller have started to reduce their exposure. Notable hedge funds that sold some or all of their Nvidia stake in the third quarter of 2023 include Third Point, Duquesne Family Office, Soros Fund Management, Renaissance Technologies, Lone Pine Capital, and Tairen Capital.
Key takeaways:
- Nvidia is the best performing S&P 500 stock in 2023, with a 234% surge year-to-date, and has surpassed a $1 trillion market valuation due to strong demand for its H100 chips used in artificial intelligence technology.
- Despite the stock's performance, some hedge funds, including those linked to Dan Loeb, George Soros, and Stanley Druckenmiller, have started to sell their Nvidia shares, according to recent 13F filings.
- Notable hedge funds that sold some or all of their Nvidia stake in the third quarter of 2023 include Third Point, Duquesne Family Office, Soros Fund Management, Renaissance Technologies, Lone Pine Capital, and Tairen Capital.
- On the other hand, investment firms tied to Bill Gates and Ray Dalio purchased Nvidia shares in the third quarter, indicating a mixed sentiment among hedge funds.