Top 5 Stock Picks of Rajiv Jain’s GQG Partners

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1. NVIDIA Corporation (NASDAQ:NVDA)

GQG Partners’ Stake Value: $2,971,965,000

Percentage of GQG Partners’ 13F Portfolio: 8.73%

Number of Hedge Fund Holders: 86

NVIDIA Corporation (NASDAQ:NVDA) is the largest holding in the Q2 portfolio of Rajiv Jain. Jain, via GQG Partners, owns over 3.7 million shares in NVIDIA Corporation (NASDAQ:NVDA), worth $2.97 billion, representing 8.73% of the firm’s investment portfolio. NVIDIA Corporation (NASDAQ:NVDA) is a California-based multinational technology company that is primarily engaged in developing graphics processing units, central processing units, chipsets, drivers, data processing units, and computer hardware. 

According to a report published by Wedbush analyst Mark Bryson on November 12, NVIDIA Corporation (NASDAQ:NVDA) stock is extremely overvalued, trading at 55 times his 2024 estimates for the company. He sees no negative catalysts for NVIDIA Corporation (NASDAQ:NVDA), and believes that company fundamentals are improving. However, Bryson downgraded the stock from Outperform to Neutral, slashing the price target from $300 to $220, owing to the current valuation. 

As of Q2, 86 hedge funds monitored by Insider Monkey were long NVIDIA Corporation (NASDAQ:NVDA), up from 80 in the preceding quarter. 

Here is what Harding Loevner has to say about NVIDIA Corporation (NASDAQ:NVDA) in its Q2 2021 investor letter:

“Within IT, shares of US-based computer chip developer NVIDIA continued their climb as rising demand across segments-from work-from-home laptops to data centers to cryptocurrency mining rigs-led to shortages that translated into surging prices for its chips. Such was the windfall that NVIDIA even made technical changes to some of its products to make them towards what it believes are more sustainable uses. Less attractive to cryptocurrency miners, to steer scarce supply viewed by geography, the lion’s share of excess returns came from good stock performance in the US. In addition to the contributions from NVIDIA and our health care holdings, a pair of IT software and service providers also aided relative returns.”

You can also take a look at Tech Stock Portfolio: 10 Tech Stock Picks from Andrew Immerman and Jeremy Schiffman’s Palestra Capital Management and 10 Stocks to Buy in 2021 According to Guy Spier’s Aquamarine Capital.

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