At Extreme Investor Network, we pride ourselves on providing our readers with the latest and most valuable information in the world of investing. Today, we are excited to share with you some exclusive insights into the recent moves made by DNB Asset Management, a Nordic fund giant managing nearly $90 billion as of the end of 2023.
According to a new regulatory filing, DNB Asset Management made a significant change to its Nvidia stake after the chipmaker’s impressive run in 2024. The firm reduced its Nvidia share count by 9% in the second quarter, bringing its holding down to about 9.3 million shares valued at $1.1 billion. Despite the reduction, Nvidia still remained DNB’s third-largest holding at the end of June.
Nvidia, known for producing top-of-the-line AI graphics processing units, saw a staggering 160% increase in its stock price this year, pushing its market valuation above $3 trillion. However, the recent dip in Nvidia’s share price suggests that the bull run may be losing steam as the market broadens out to previously undervalued sectors.
DNB Asset Management, with approximately 100 investment funds and $88 billion in assets under management, has most of its top 10 holdings in the “Magnificent Seven” stocks, which include Microsoft, Alphabet, Nvidia, Amazon, Apple, and Meta Platforms.
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