5 Stocks Jim Cramer and Hedge Funds Have in Common

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 106

NVIDIA Corporation (NASDAQ:NVDA) is another one of Cramer’s favorite growth stocks. He is bullish on the company because of its leading position in artificial intelligence and according to Cramer, “NVIDIA (NASDAQ:NVDA) is now the definition of unstoppable”. As of April 20, the stock has gained 89.34% year to date.

NVIDIA Corporation (NASDAQ:NVDA) was spotted on 106 hedge funds’ portfolios at the close of Q4 2022. These funds disclosed collective stakes worth $6 billion in the company. As of December 31, Matrix Capital Management is the most prominent shareholder and has disclosed a position worth $741 million.

Artisan Partners made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2023 investor letter:

“Top contributors to performance for the quarter included graphics semiconductor company NVIDIA Corporation (NASDAQ:NVDA). Nvidia benefited from rising excitement in artificial intelligence (AI) as ChatGPT captured the attention of people around the world; Nvidia also experienced signs of a cyclical upturn in gaming, stability in its data center business despite economic headwinds, and continued growth in its burgeoning auto business. Notably, our top four holdings entering the quarter (Sea, Meli, Nvidia, Airbnb) which represented 24.37% of capital on December 31, 2022, increased an average of 64.42% during the quarter.”