Billionaire Ken Griffin’s Top 5 Stock Holdings

4. NVIDIA Corporation (NASDAQ: NVDA)

Nvidia shares account for 0.14% of Citadel’s portfolio. In the third quarter, the hedge fund increased its stake in the company by 91%, ending the period with 921,164 shares, worth $498.6 million. Citi gave bullish comments about Nvidia stock in January, citing recovery in hyperscale-led data center demand in the first half of 2021. The firm also expects a strong demand in PC gaming segment despite supply issues.

A total of 82 hedge funds tracked by Insider Monkey held stakes in Nvidia at the end of the third quarter, down from 92 funds a quarter earlier. At the end of the fourth quarter, Ken Fisher’s Fisher Asset Management owns 1.2 million shares of the company, worth 620.68 million.

Here’s what Vulcan Value Partners said about NVDA in their Q3 letter:

“NVIDIA Corp. is the dominant supplier of Graphics Processing Units (GPUs) worldwide. During the first quarter of 2019, its stock price declined considerably due to the combination of three factors. A capital spending hiatus by cloud providers, the collapse in demand for cryptocurrency mining, along with the end of the product cycle in its most recent gaming chip caused NVIDIA to miss its quarterly earnings estimates. As a result, we were given the opportunity to purchase NVIDIA with a significant margin of safety in March of 2019. NVIDIA’s value grew substantially while we owned it, and we continued to follow our discipline by trimming and adding to the company as its price fluctuated. We exited NVIDIA when its stock price rose close to our estimate of fair value. The combination of its value growth and the closing of the price to value gap provided substantial returns over our investment period.”

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