During the third quarter, several investment firms shifted their holding in the chipmaker’s stock Nvidia (NVDA, Financial). According to recent reports, WCM Investment Management LLC decreased its stake in NVIDIA by $66 million in the third quarter. It sold 66,549 shares to hold 6,113,891 shares. NVIDIA is still a big part of the fund’s portfolio, as the 21st biggest holding, with 1.7% of investments and a value of $742.2 million as of the end of the quarter.
It wasn’t just WCM that changed their stance on NVIDIA. Hoertkorn Richard Charles increased its holdings by 2%, or 70 shares, to pay a total of $424,000 for a total of 3,490 shares. Smart Portfolios LLC also raised its investment by 2.7%, consisting of 2,805 shares valued at $341,000. Boyd Watterson Asset Management LLC (OH) and Pavion Blue Capital LLC each increased their portfolio by marginally, while Total Wealth Planning LLC expanded its holdings by 3.6%.
They underscore the continuous interest in NVIDIA as a leader in AI and high-performance computing. Collectively, institutional investors own 65.27% of NVIDIA’s outstanding shares, giving credence to the fact that the stock is as popular as it is.
In a crowded market with increasingly competitive dynamics, institutional players like NVIDIA make strategic recalibrations with their portfolio shifts, emphasizing NVIDIA’s supremacy in key technological sectors. NVIDIA’s growth trajectory is tightly watched by investors who are tuned in to wider market trends.
This article first appeared on GuruFocus.