Legacy Trust Reduces NVIDIA Stake Amid Strong Demand
NVIDIA Corporation (NVDA) is Legacy Private Trust Co.'s ninth largest holding. According to its latest 13F filing, the trust reduced its position in NVDA by 3.6% during Q2, selling 9,040 shares. This left it with 243,225 shares worth $48,667,000 at the end of the period.
This is a significant holding for Legacy Private Trust Co., accounting for about 2.7% of its total holdings. The trust's investment in NVDA has been subject to various market trends and sentiments. On one hand, the company continues to benefit from exceptional AI infrastructure demand, with recent analysis highlighting $96.2 billion in quarterly revenue, a 106% year-over-year growth, strong data-center momentum, and management's expectation for approximately 70% revenue growth in fiscal 2028.
On the other hand, investors are watching whether the open-source community will embrace NVIDIA's acquisition of Hugging Face, which is viewed as a way to deepen its software and developer ecosystem. Additionally, supplier activity points to sustained demand but also rising execution and financing requirements. Director Mark Stevens sold 1,022,239 NVDA shares for approximately $235.6 million across September 3-4, reducing his direct ownership by roughly one-third.