Hedge Funds Make Big Bets on Nvidia and Amazon in Q2

Hedge funds made significant moves in Nvidia (NVDA) and Amazon (AMZN) during Q2, with some funds increasing their holdings by millions of shares while others cut back or exited altogether.

Renaissance Technologies stood out on the buying side, more than tripling its Nvidia position from 2.53 million shares to 7.09 million shares, worth around $1.42 billion at the end of June. Soros Capital also raised its Nvidia holding by over 540%, although the position was much smaller.

In contrast, some funds were less bullish on Nvidia. D1 Capital sold its entire 1.57 million-share position, while Discovery Capital and Third Point exited their holdings. Iconiq Capital made a large cut, reducing its position by about 87% from 1.1 million shares to 142,000.

Amazon also saw heavy buying and selling during Q2. Viking Global more than tripled its position, raising its stake from 1.2 million shares to 3.7 million. Duquesne made an even larger percentage increase, taking its position from 46,000 shares to 542,000.