This year's favorite of the artificial intelligence (AI) wave and semiconductor giant Nvidia fell 1.55% on Wednesday, stopping its "ten consecutive gains" and tying the record set by the stock on December 27, 2016. In this round of rise, NVIDIA's stock price has surged by a total of 22%, with a market value increase of approximately $220 billion.
This has driven the relative strength index (RSI, a 0-100 measure of bullish and bearish price momentum) of the stock to above 70. Such a high RSI level is usually considered a signal of impending decline, as buying has become excessive. On Tuesday, the stock entered the so-called overbought zone for the first time since July.
Nvidia's stock price has surged nearly 240% this year, making it undoubtedly the best-performing component of the S&P 500 index. However, investors have recently begun to question whether the AI dividend is almost over? According to the 13F file for the third quarter submitted to the US Securities and Exchange Commission (SEC) this week, some hedge funds have started taking profits and selling stocks.
According to the 13F file, billionaire Stanley Druckenmiller's family office, Duquesne Family Office, reduced NVIDIA's position in the quarter ended September 30th. This is the first time this year that the company has disclosed a reduction in its holdings of this stock. Soros' family office, as well as a department of Stonehage Fleming's family office, also reduced their holdings in NVIDIA stocks during this period.
The following is a brief summary of the investment trends of some hedge funds in the third quarter:
1. Third Point Management Company
NVIDIA Stock Movement: Sell all 500000 shares worth up to $251.3 million
Investment portfolio proportion: 0%
Investment portfolio proportion in the previous quarter: 3.1%
First purchase time: Q2 2023
2. Billionaire Stanley Druckenmiller's Family Office Duquesne Family Office
NVIDIA stock changes: 75419 shares sold, valued at $37.9 million
Investment portfolio proportion: 13.7%
Investment portfolio proportion in the previous quarter: 14.0%
First purchase time: Q4 2022
3. Soros' Family Office
NVIDIA Stock Movement: Sell all 10000 shares worth up to $5 million
Investment portfolio proportion: 0%
Investment portfolio proportion in the previous quarter: 0.07%
First purchase time: Q2 2023
4. Renaissance Technologies
NVIDIA stock movement: 646617 shares sold, valued at $325 million
Investment portfolio proportion: 0.90%
Investment portfolio proportion in the previous quarter: 1.13%
First purchase time: Q1 2023
5. Lone Pine Capital
NVIDIA Stock Movement: Sell all 641649 shares with a value of up to $322.5 million
Investment portfolio proportion: 0%
Investment portfolio proportion in the previous quarter: 2.5%
First purchase time: Q2 2023
6. Tairen Capital
NVIDIA Stock Movement: Sell all 506947 shares with a value of up to $254.8 million
Investment portfolio proportion: 0%
Investment portfolio proportion in the previous quarter: 6.8%
First purchase time: Q1 2023