stock Nvidia and dark They are among the most popular among private and institutional investors, but two successful hedge fund managers prefer one over the other, according to the Montaly website.
Ken Griffin from the Citadel fund purchased 4.7 million shares of Nvidia and almost tripled his holdings, this after in the first quarter of this year, he actually reduced his holding in Nvidia by 68% and was left with only 1.1 million shares. Now, Nvidia is the third largest position in the fund. At the same time, Griffin sold 4.9 million shares of Apple, which reduced his holdings by 90%. Before that, Apple was the fourth largest position in the fund (excluding options).
Griffin built a fund that manages $63 billion today and was even recognized as having the highest return among hedge funds ever. So when Griffin makes a bet on a stock, it’s worthwhile for investors to note it down for themselves. In 2023, the company’s flagship fund posted a return of 15.3%, beating the hedge fund industry average of 7.4%. It ended 2024 with a return of 15.1%.
The Point hedge fund also increased its holdings in Nvidia
Along with Griffin, Steven Cohen of the hedge fund Point 72 bought 1.5 million shares of Nvidia, which increased his holdings by 75%. Now it is his biggest position. In contrast, Cohen sold 1.5 million shares of Apple and exited the position completely.
About 11 years ago, the hedge fund SAC Capital founded by Cohen was convicted of insider trading. Since, following the scandal, Cohen was prohibited from managing external funds, he founded Point 72. No charges were brought against Cohen himself in connection with the SAC affair, and in the civil settlement he reached he neither admitted nor denied the suspicions against him.
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