Hedge fund billionaires like Louis Bacon, Israel Englander, and Steven Cohen reduced their stakes in Nvidia significantly in Q4, with Bacon even cutting his by 99% and increasing his Amazon holding by over 1,000%.
Englander and Cohen, top hedge fund managers historically, notably decreased Nvidia positions and significantly enlarged Amazon holdings, showcasing a shift in interest towards the AI heavyweight.
Nvidia's strong performance in 2023 with a 239% surge didn't stop notable hedge funds from diversifying into Amazon, believing in its potential across e-commerce, digital advertising, and cloud computing sectors.
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