Hedge fund managers are always buying and selling shares of stocks in their portfolios, whether to rebalance them or take advantage of market pricing opportunities. When one dumps billions of dollars worth of one stock, though, investors might want to take notice.
GQG Partners is a boutique asset management firm with $66 billion in assets under management. It manages global and emerging market equity portfolios for institutions, advisors, and individuals worldwide. Nvidia (NASDAQ:NVDA) was its largest holding by far and it remains so even after shedding 44% of its position in the second quarter.
Having dumped $6.2 billion of Nvidia stock in the second quarter, it instead opened entirely new positions in these two stocks.
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