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Key Points
Institutional investors managing over $100 million have 45 days post-quarter to file form 13F with the SEC, detailing stock transactions. Recent filings reveal billionaires trimming stakes in Palantir Technologies (NASDAQ: PLTR) while increasing investments in Nvidia (NASDAQ: NVDA).
Notable reductions include Citadel, which cut its Palantir shares by 48%, selling 639,935 shares, while Stanley Druckenmiller’s Duquesne fully exited its position and Ray Dalio’s Bridgewater sold its remaining shares. Conversely, Coatue Management increased its Nvidia holdings by 34%, acquiring 2,942,694 shares, and Citadel boosted its Nvidia position by 414%, adding 6,513,348 shares.
Nvidia’s stock soared 620% between November 2022 and June 2024, climbing an additional 55% since its stock split. Current valuation metrics show Nvidia trading at a price-to-sales ratio of 28 and a forward price-to-earnings ratio of 42, while Palantir’s valuation multiples have continued to expand, indicating it might be overvalued compared to Nvidia.
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