Munro Partners, an investment management firm, released its “Munro Global Growth Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the June quarter, the Fund returned 16.1%. The Fund’s long positions and option hedging contributed to the performance, while short positions and currency detracted. The second quarter saw increased volatility in equity markets due to trade concerns between the US and other countries worldwide. The US Administration’s tariff halt led to a significant surge in markets, particularly the S&P 500 and Nasdaq. Geopolitical tensions between Israel and Iran dominated headlines near the conclusion of the quarter; however, markets responded positively to US intervention and the ensuing ceasefire. For more information on the fund’s best picks in 2025, please check its top five holdings.
In its second-quarter 2025 investor letter, Munro Global Growth Fund highlighted stocks such as NVIDIA Corporation (NASDAQ:NVDA). NVIDIA Corporation (NASDAQ:NVDA) offers graphics and compute, and networking solutions. The one-month return of NVIDIA Corporation (NASDAQ:NVDA) was -0.55%, and its shares gained 33.38% of their value over the last 52 weeks. On August 21, 2025, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $174.98 per share, with a market capitalization of $4.27 trillion.
Munro Global Growth Fund stated the following regarding NVIDIA Corporation (NASDAQ:NVDA) in its second quarter 2025 investor letter:
“From a Fund perspective, long positions contributed to performance for the quarter. NVIDIA Corporation (NASDAQ:NVDA) (High Performance Computing) was the biggest contributor, rallying after the tariff pause, and benefiting from continued investor focus on accelerating AI trends. The June quarter was a positive one for our High Performance Computing (HPC) Area of Interest, as spending on AI infrastructure continues to accelerate. During the quarter, we increased exposure to HPC, after continued commitments by hyperscalers to spend on capex, and a positive visit to the Nvidia company office. After recently visiting Nvidia at their head office on the US West Coast, our team maintain their conviction in the earnings runway ahead for the company. Nvidia management discussed the current hyperscaler investment opportunity as a trillion dollars of AI infrastructure spend, of which we believe Nvidia can potentially address over US$500 billion. Based on this, Nvidia’s data centre revenues, we believe, can still double as this opportunity is realised. The opportunity doesn’t end with hyperscale investments. New opportunities are already being presented in robotics and sovereign AI, as seen through the recent announcements by the US Administration in the UAE and Saudi Arabia, empowering countries around the world through US technology.”
A close-up of a colorful high-end graphics card being plugged in to a gaming computer.
NVIDIA Corporation (NASDAQ:NVDA) is in 5th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 235 hedge fund portfolios held NVIDIA Corporation (NASDAQ:NVDA) at the end of the second quarter, which was 212 in the previous quarter. NVIDIA Corporation (NASDAQ:NVDA) reported another record quarter in the fiscal first quarter of 2026 with $44 billion in revenues, representing a 69% year-over-year increase. While we acknowledge the risk and potential of NVIDIA Corporation (NASDAQ:NVDA) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVIDIA Corporation (NASDAQ:NVDA) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered NVIDIA Corporation (NASDAQ:NVDA) and shared the list of trending AI stocks on Wall Street. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
