Quick Read
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Tepper added to NVDA, Loeb sold all 190,000 shares, and Soros opened puts against his $213 million long position in the same quarter.
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Soros holds 1 million NVDA shares alongside his new puts, framing the trade as a hedge on a large long, not a directional short.
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Analyst consensus targets NVDA at $303 with 85% odds of a new all-time high by year-end, yet three elite managers split three ways on the stock.
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Three of the most respected money managers alive reached three completely different conclusions about NVIDIA in the same 90 days. Q2 13F filings, covering positions as of June 30, 2026 and filed August 14, 2026, show David Tepper adding, Dan Loeb exiting entirely, and George Soros opening a put position on top of an existing long stake, a configuration that reads as elite hedging, not directional shorting.
NVIDIA (NASDAQ:NVDA) closed at $225.16 on August 14, 2026, after a 12.53% run from the June 30 snapshot price of $200.09. Let’s look at the moves from each superstar fund manager one by one.
David Tepper: Adding to an Already Sizable Position
Appaloosa LP increased NVIDIA by 53,500 shares to a total of 1,525,000 shares, a disclosed value $305,137,250. The reported share delta of 0.036 is a modest add on an already large stake, not a new conviction buy. The read is fairly straightforward: Tepper still wants exposure to the AI infrastructure trade, and he was willing to lean in rather than trim into strength. NVIDIA’s Q1 FY2027 revenue of $82 billion, up 85% year over year, and Q2 guide of $91 billion ± 2% show a company that continues to grow at incredible rates despite its massive size.
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Dan Loeb: A Full Exit
Third Point sold all 190,000 shares, taking the position to zero. Loeb eliminated the position outright. The exit was part of a broader reshuffle out of several Magnificent 7 names. Loeb closed out of Meta Platforms, reduced his Amazon position by nearly 10%, and bet big on Alphabet. Loeb increased his Alphabet position by 486%. It’s now 6.65% of his portfolio.
George Soros: A Hedge, Not a Short
The Soros move is the one lazy coverage will get wrong. Soros Fund Management opened a new put position on NVIDIA covering 400,000 notional underlying shares, underlying value $80,036,000. Critically, Soros also still held 1,064,635 NVIDIA shares valued at $213,022,817, having trimmed that stock position by only 8,571 shares. He owns the stock and owns puts against it. The read is a hedge on a large existing long, framed as defense rather than a directional bet against NVIDIA.