News Summary
PositiveNVIDIA demonstrated exceptional execution with Q1 FY27 revenue of $81.6B (+85% YoY) and record $48.6B free cash flow, while guiding to ~$91B for Q2 with Wall Street expecting $93–95B, indicating continued AI data center momentum. The company is diversifying revenue beyond Big Tech (now 46% from AI clouds/industrial/enterprise) and unlocking $500B+ in third-party capital for GPU capacity, though upcoming Q2 earnings on Aug 26 historically see post-earnings share weakness despite strong fundamentals.
Red flags
- •Historical pattern of share price decline post-earnings despite strong results; investor expectations well-anchored
- •Analyst price target compression from ~$335 to ~$405 reflects debate on valuation sustainability at current growth rates
- •Institutional positioning mixed: some large holders trimming stakes (Sands Capital divested 4M shares) while others add, signaling uncertainty among sophisticated investors
- •$500B financing initiative drawing criticism and potential regulatory scrutiny around financial engineering and AI infrastructure bubble concerns
Funds Buying (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Altimeter Capital | Brad Gerstner | 9.4M | +77K | $1.9B | 19.2% | +1% | Existing |
| Appaloosa LP | David Tepper | 1.5M | +54K | $305M | 4.1% | +4% | Existing |
| Point72 | Steve Cohen | 438K | +438K | $88M | 0.1% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where NVDA ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #1 of this fund's book
- 1NVIDIA CORPORATION$1,884M
- 2CEREBRAS SYSTEMS INC$1,597M
- 3META PLATFORMS INC$763M
- 4TAIWAN SEMICONDUCTOR MFG LTD$683M
position #9 of this fund's book
- 6ISHARES INC$490M
- 7META PLATFORMS INC$380M
- 8VISTRA CORP$351M
- 9NVIDIA CORPORATION$305M
- 10NRG ENERGY INC$257M
- 11ALIBABA GROUP HLDG LTD$192M
- 12BOEING CO$173M
Values are quarter-end position sizes. Shown only for funds where NVDA ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Funds Reducing / Exiting (4)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Whale Rock Capital | Alex Sacerdote | 377K | -663,933 | $75M | 2.3% | -64% | Existing |
| Dragoneer | Marc Stad | 0 | −3.7M | — | 21.7% | -100% | EXITED |
| D1 Capital | Dan Sundheim | 0 | −1.6M | — | 2.4% | -100% | EXITED |
| Third Point | Dan Loeb | 0 | −190K | — | 1.6% | -100% | EXITED |
Shares Held reflects quarter-end positions for partial reductions. Funds that fully exited show 0 shares held. ∆ Shares is the change from the prior quarter. % of Fund is the prior-quarter position size — how much of the book was sold down.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | SHORT | 4 | 5.12 | +6.3% |
| Q2 2026 | LONG | 3 | 3.82 | +6.3% |
| Q1 2026 | LONG | 8 | 11.32 | +9.6% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| Vanguard Capital Management | SC 13G | 1777.4M | 7.3% | 2026-04-28 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.
Congressional Trading
| Member | Chamber | State | Type | Amount Range | Transaction Date | Filed | Src |
|---|---|---|---|---|---|---|---|
| Sheldon Whitehouse | senate | — | SELL | $15,001 - $50,000 | 2026-06-30 | 2026-07-08 | ↗ |
| Cleo Fields | house | LA06 | BUY | $1,001 - $15,000 | 2026-06-26 | 2026-07-16 | ↗ |
| Matthew Robert Van Epps | house | TN07 | SELL | $1,001 - $15,000 | 2026-06-16 | 2026-06-17 | ↗ |
| Alan Armstrong | senate | — | BUY | $1,001 - $15,000 | 2026-03-30 | 2026-07-21 | ↗ |
| Alan Armstrong | senate | — | BUY | $50,001 - $100,000 | 2026-03-27 | 2026-07-21 | ↗ |
Periodic Transaction Reports filed under the STOCK Act. Amounts are disclosed as ranges, not exact dollar figures.