This Under-The-Radar Hedge Fund Quietly Amassed Over $5 Billion In Gains Following Nvidia's Stratospheric Rally
Portfolio Pulse from Shanthi Rexaline
Jennison Associates, a lesser-known US hedge fund, has gained over $5 billion from Nvidia's 166.5% year-to-date rally. The fund held 23.3 million shares of Nvidia at the end of Q4 2022, valued at $3.4 billion. Since then, the value of their position has increased by 159% to $8.82 billion.
May 28, 2023 | 2:53 pm
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Nvidia's 166.5% year-to-date rally has benefited Jennison Associates, with their position in the company now worth $8.82 billion, a 159% increase since Q4 2022.
The article highlights the significant gains made by Jennison Associates due to Nvidia's impressive year-to-date rally. This indicates a positive impact on Nvidia's stock price, as the hedge fund's position has increased in value by 159% since the end of Q4 2022. The increased price targets from sell-side firms also suggest further upside potential for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100