Key Points
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Quarterly Form 13Fs provide insights into stock trades by top asset managers.
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Billionaire fund managers have moved away from Nvidia and Palantir, despite their high performance.
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Meta Platforms is currently the favored AI stock among billionaire investors.
Nvidia (NASDAQ: NVDA) and Palantir Technologies (NASDAQ: PLTR) have seen dramatic stock increases of approximately 1,150% and 2,810%, respectively, since the beginning of 2023. However, recent Form 13F filings reveal a shift as prominent fund managers, including Stanley Druckenmiller and Stephen Mandel, have divested their holdings in these companies. The filings are due by August 14, signifying that many investors are reassessing their positions amid concerns of a potential AI bubble.
In stark contrast, Meta Platforms (NASDAQ: META) has emerged as the preferred AI stock among top-tier money managers. Notably, Chase Coleman of Tiger Global Management has allocated 16.18% of his assets to Meta, and other investors like Terry Smith and Stephen Mandel follow suit. As of early June, Meta’s advertising revenue accounted for nearly 98% of its $89.8 billion sales, supported by a robust user base of approximately 3.48 billion daily active users. Meta’s efforts to integrate AI into its advertising platform are also yielding promising results.
