Important data releases are a common occurrence on Wall Street. Between earnings season, which sees a vast majority of Wall Street's largest and most-influential businesses report their quarterly operating results, and daily economic reports, it can be easy to miss something important.
For instance, you might have missed what can arguably be described as the most-important data dump of the fourth quarter last week. Nov. 14 marked the deadline for institutional investors with at least $100 million in assets under management (AUM) to file Form 13F with the Securities and Exchange Commission. This filing provides a snapshot that alerts investors to the stocks Wall Street's most-prominent money managers bought and sold in the latest quarter For example, Bridgewater Associates billionaire money manager Ray Dalio also has quite the following. Dalio, who runs a well-diversified fund that takes advantage of economic trends, closed out the third quarter with close to $17.7 billion in AUM.
Among the hundreds of trades executed by Dalio and his team during the September-ended quarter, perhaps none stand out more than the buying and selling activity associated with three of Wall Street's hottest artificial intelligence (AI) stock-split stocks.
Dalio's Bridgewater dumps 27% of its Nvidia shares
The first eye-popper is that Ray Dalio was a big-time seller of the market's leading AI stock-split stock, Nvidia (NASDAQ: NVDA). Nvidia completed its largest forward stock split on record (10-for-1) following the close of trading on June 7.
Despite Nvidia's AI-graphics processing units (GPUs) dominating in high-compute data centers, and the company possessing substantial pricing power on its H100 and Blackwell GPUs, Dalio's Bridgewater shed 1,801,922 shares of Nvidia in the third quarter. This represents a 27% reduction from where things stood on June 30. Although profit-taking may be the key catalyst for Bridgewater, there's potentially more to this story than just ringing the register.
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