You might not realize it, but one of the most important data releases of the entire quarter dropped on Aug. 14. While most investors have been enamored with earnings season, the quarterly filing of Form 13Fs can provide invaluable information on which stocks Wall Street’s brightest money managers have been buying and selling.
The theme of the second quarter is that artificial intelligence (AI) stocks remain polarizing among billionaire money managers. Whereas five prominent billionaires dumped shares of Palantir Technologies (NASDAQ: PLTR) in the second quarter, other billionaire investors found an AI applications stock they couldn’t stop buying: Google parent Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG).
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a “Double Down” signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same “Total Conviction” signal is flashing for a company 1/100th the size of Nvidia. Continue »
Image source: Getty Images.
Palantir’s outsize growth is overshadowed by its stratospheric valuation
Palantir has been absolutely crushing it since the start of 2023, with its shares rallying more than 2,600% as of Aug. 20, 2026. These gains didn’t happen by accident. They reflect the company’s seemingly impenetrable moat as an AI-driven software-as-a-service (SaaS) provider.
Palantir’s Gotham is a SaaS platform used by the U.S. government and its allies to plan and oversee military missions. With minimal large-scale competition for lucrative long-term government contracts, Gotham is generating sustained double-digit growth and hearty profits for the company.
Nevertheless, five billionaire asset managers dumped shares of Palantir Technologies during the second quarter, including:
John Overdeck’s and David Siegel’s Two Sigma Investments
Cliff Asness’s AQR Capital Management
Ken Griffin’s Citadel Advisors
Steven Cohen’s Point72 Asset Management
While profit-taking is a…
..
