The most important data release of the quarter occurred earlier this week -- and I'm not talking about the much-anticipated July inflation report. No later than 45 calendar days following the end to a quarter, institutional investors with at least $100 million in assets under management are required to file with the Securities and Exchange Commission. A 13F offers an under-the-hood glimpse of which stocks Wall Street's smartest, most-successful, and richest investors have been buying and selling.
Despite the limitations of 13Fs -- e.g., they can be 45 days old when filed, meaning the data you're seeing might be stale for active fund managers -- they provide invaluable clues as to what stocks, industries, sectors, and trends are piquing the interest of Wall Street's brightest asset managers.
While there's been plenty of buying and selling activity for companies involved in what's currently the buzziest investment opportunity, artificial intelligence (AI), the theme for the latest round of 13Fs is that Wall Street's billionaire investors are continuing to pare down their stakes in AI darling . Nvidia has become the hardware backbone of the artificial intelligence movement Since the page was turned to 2023, shares of Nvidia have catapulted higher by 709%, as of the closing bell on Aug. 14, which .
Quite a few billionaire investors and their funds have benefited immensely from this move higher. The catalyst behind this historic gain for a market-leading business is the company's .