Despite publicly praising Nvidia Corp.'s (NASDAQ:NVDA) historic performance and the broader artificial intelligence (AI) sector, billionaire investor Dan Loeb's latest 13F filing reveals that his hedge fund, Third Point LLC, dumped nearly 90% of its stake in the semiconductor giant during the first quarter of 2026.
The 'Monster Quarter' Disconnect Nvidia recently reported first-quarter revenue of $81.6 billion, an 85% year-over-year increase.
CEO Jensen Huang touted the ongoing "buildout of AI factories" as "the largest infrastructure expansion in human history," confidently declaring that "Agentic AI has arrived." Loeb seemingly agreed with this bullish sentiment in a recent podcast called 'Invest Like The Best.' He noted that unless investors expect the AI boom to "roll over," semiconductors remain "the most attractive sector right now." Reflecting on historical price action, Loeb pointed out that Nvidia previously "had this monster quarter [and] people piled on." Yet, Third Point's trading activity tells a completely different story.
Read Also: Daniel Loeb's Third Point Loads Up On Chipotle, Constellation, Alibaba While Slashing TSM, Amazon in Q4 Shake-Up A Sweeping Portfolio Overhaul According to the latest SEC filings, Third Point drastically reduced its Nvidia holdings from about 2.95 million shares in the fourth quarter, down to just 190,000 shares by the end of March 2026.
