NVIDIA has just published its 13F for Q2 2026, and the headline is simple: it parked $21B at SpaceX and benefited from mark-to-market gains on the rest.
The portfolio surged 245% to reach $63.44B, but if you strip out price appreciation and the addition related to SpaceX, there were no new purchases. Each existing position—$INTC, $CRWV, $COHR, $NOK, $SNPS, $NBIS—keeps exactly the same number of shares as in Q1. No downward rebalancing, no additions: just sit back and let it run.
SpaceX now represents 33.1% of the portfolio, with ~122.8M Class A shares, making it the second-largest holding behind Intel’s 47.3%. No exits this quarter.
What this tells you: NVIDIA’s conviction is rooted in its core holdings. It isn’t chasing new ideas or redirecting—it's placed a major bet on SpaceX and let the rest compound. Net, patient, and concentrated.
Watch how this allocation fits into its AI infrastructure thesis, and whether next quarter it starts trimming its historical positions. For now, it’s a “hold and let it appreciate” playbook, with just one big new development.
$NVDAB $SPCXB
The portfolio surged 245% to reach $63.44B, but if you strip out price appreciation and the addition related to SpaceX, there were no new purchases. Each existing position—$INTC, $CRWV, $COHR, $NOK, $SNPS, $NBIS—keeps exactly the same number of shares as in Q1. No downward rebalancing, no additions: just sit back and let it run.
SpaceX now represents 33.1% of the portfolio, with ~122.8M Class A shares, making it the second-largest holding behind Intel’s 47.3%. No exits this quarter.
What this tells you: NVIDIA’s conviction is rooted in its core holdings. It isn’t chasing new ideas or redirecting—it's placed a major bet on SpaceX and let the rest compound. Net, patient, and concentrated.
Watch how this allocation fits into its AI infrastructure thesis, and whether next quarter it starts trimming its historical positions. For now, it’s a “hold and let it appreciate” playbook, with just one big new development.
$NVDAB $SPCXB