5 Near Monopoly Stocks in the US

4. NVIDIA Corporation (NASDAQ:NVDA) 

Number of Hedge Fund Holders: 180

NVIDIA Corporation (NASDAQ:NVDA), headquartered in Santa Clara, California, is a multinational technology company incorporated in Delaware. The company specializes in designing and selling GPUs (Graphics Processing Units) for various applications, including gaming, cryptocurrency mining, and professional uses. Nvidia also provides chip systems utilized in sectors such as vehicles, robotics, and other tools.

On November 21, NVIDIA Corporation (NASDAQ:NVDA) released its financial results for the third quarter, concluding on October 29, 2023. The company reported a significant increase in revenue, reaching $18.12 billion, marking a 206% surge compared to the same period last year and a notable 34% rise from the previous quarter. The quarter recorded GAAP earnings per diluted share of $3.71, reflecting a more than 12-fold increase from a year ago and a 50% uptick from the previous quarter. Non-GAAP earnings per diluted share were $4.02, indicating an almost 6-fold rise from a year ago and a 49% increase from the previous quarter.

Insider Monkey’s analysis of hedge fund portfolios for NVIDIA Corporation (NASDAQ:NVDA) in Q3 2023 revealed that 180 hedge funds had a stake in the company. Citadel Investment Group emerged as the largest stakeholder, holding approximately 21.85 million shares valued at about $9.5 billion in NVIDIA Corporation (NASDAQ:NVDA).