Billionaire Philippe Laffont Has Sold Shares of Nvidia in 12 of the Last 13 Quarters -- What Does He Know That Wall Street Doesn't?
Coatue Management's billionaire boss has slashed his stake in the face of the artificial intelligence (AI) revolution by 88% since the first quarter of 2023.
Overview
August is home to two of the most important data releases of the quarter: Nvidia's (NASDAQ: NVDA) operating results (scheduled for Aug. 26) and Form 13F filings by institutional investors with at least $100 million in assets under management. A 13F offers a snapshot of the stocks that Wall Street's leading money managers purchased and sold in the latest quarter.
Friday, Aug. 14, marked the deadline for fund managers to file Form 13Fs detailing their second-quarter trading activity. It also gives investors a firsthand look at the trends captivating the attention of billionaire investors, such as Coatue Management's Philippe Laffont.
Details
The second quarter was a busy one for Laffont, with nine new holdings, eight existing stakes added to, five positions exited, and 22 holdings reduced. But among these more than three dozen chess moves, one consistency stands out: Laffont was, yet again, a seller of Nvidia stock.
Source
Originally published at www.fool.com.