Which Famous Fund Manager Bought NVDA Stock?

While perusing through Larry Ramer’s excellent list of seven stocks that billionaires are buying now, I had a funny feeling that Nvidia would be somewhere on that list. Lo and behold, my inkling was confirmed as Nvidia is indeed on Ramer’s list.

Reportedly, Stanley Druckenmiller’s hedge fund, Duquesne Family Office, increased its position in NVDA stock. To be more specific, Druckenmiller’s fund raised its stake from about 583,000 to 791,000 shares in the first quarter of 2023.

Fund managers don’t always reveal why they invest in stocks. However, Druckenmiller reportedly stated that Nvidia is “already making the top coders seven or eight times more productive than they were five months ago.” Moreover, “If it’s as big as I think it is, Nvidia is something we’re going to want to own for two or three years, not 10 months, and maybe longer,” Druckenmiller added.