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Rokos and Bridgewater back Nvidia in Q4

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Rokos Capital Management and Bridgewater Associates were among several big hedge funds to up their holdings in shares on Nvidia at the end of last year, positioning themselves to benefit from the stock’s almost 50% gain so far in 2024, according to a report by Reuters.

The report cites securities filings as revealing that at the end of December, Rokos bought more than 254,000 shares worth $126m in the chipmaker, which has benefitted from a surge in investor interest in AI-related stocks.

Meanwhile, Bridgewater, the hedge fund founded by Ray Dalio, increased its stake in Nvidia by 458% to more than 268,000 shares, with the firm’s positions being worth $133m at the end of December.

Arrowstreet Capital also upped its Nvidia holding, with the acquisition of an additional 3.9m shares, taking its position to $2.1bn.

Other funds sold or reduced their Nvidia stakes, with Greg Poole’s Echo Street Capital Management divesting its entire holding of 355,000 shares, D1 Capital Partners closing out its position with the sale of nearly 147,000 shares and Discovery Capital Management selling about 119,000 shares, which had accounted for 9.2% of its portfolio.

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