# What the Smart Money Bought in Q1 2026: NVDA Entered 16 of 295 Focused 13F Books

> In Q1 2026, NVDA entered 16 of the 295 most focused 13F books ($3.2B in; 75 already held it), more than any other stock. H&H International Investment, LLC made it 12% of its book. SNDK (14) and MU (14) came next. 15 books sold out of MSFT ($5.5B out), the most of any name. Tiger Global Management LLC sold $1.4B. From SEC 13F and Form 4 filings, no price data, every row sourced to the filing.
> Quarter ended 2026-03-31 (Q1 2026). Computed 2026-09-06 under score version fqs-v3. 13F holdings are filed up to 45 days after quarter-end; positions are as of 2026-03-31 and were broadly public by ~2026-05-15. This is where money WAS, not where it is now.

In Q1 2026, NVDA entered 16 of the 295 most focused 13F books ($3.2B in; 75 already held it), more than any other stock. H&H International Investment, LLC made it 12% of its book. SNDK (14) and MU (14) came next. 15 books sold out of MSFT ($5.5B out), the most of any name. Tiger Global Management LLC sold $1.4B.

## Opened: the names that entered the most of the 295 focused books, Q1 2026

Ranked by funds opening a new position, then money in (the added fraction of the filer's reported value; no market price).

| # | Stock | Funds | Money | Share of book (median) | Biggest mover | Insiders bought | Rank in prior quarter |
|---|---|---|---|---|---|---|---|
| 1 | NVDA (Nvidia Corporation) | 16 (75 held before, 30 added) | $3.2B | 3.6% | H&H International Investment, LLC · $1.2B · 12% of book | 0 | n/a |
| 2 | SNDK (Sandisk Corp) | 14 (11 held before, 3 added) | $451.4M | 0.4% | Appaloosa LP · $178.7M · 3.0% of book | 0 | n/a |
| 3 | MU (Micron Technology Inc) | 14 (21 held before, 9 added) | $287.5M | 0.3% | Crake Asset Management LLP · $64.9M · 2.3% of book | 1 | n/a |
| 4 | LITE (Lumentum Hldgs Inc) | 12 (9 held before, 3 added) | $275.2M | 0.4% | Tiger Global Management LLC · $96.1M · 0.4% of book | 0 | n/a |
| 5 | CYTK (Cytokinetics Inc) | 10 (7 held before, 4 added) | $455.9M | 0.6% | Avoro Capital Advisors LLC · $219.7M · 2.2% of book | 0 | n/a |
| 6 | VSNT (Versant Media Group Inc) | 10 (0 held before, 0 added) | $131.3M | 0.2% | Goldentree Asset Management LP · $48.3M · 2.9% of book | 4 | n/a |
| 7 | V (Visa Inc) | 9 (60 held before, 26 added) | $1.8B | 3.7% | Egerton Capital (UK) LLP · $253.9M · 14% of book | 0 | n/a |
| 8 | ASML (ASML Hldg NV) | 9 (26 held before, 12 added) | $884.0M | 0.9% | Coatue Management LLC · $655.4M · 2.3% of book | 0 | n/a |
| 9 | SUNB (Sunbelt Rentals Holdings Inc) | 9 (0 held before, 0 added) | $784.2M | 1.3% | Ruane, Cunniff & Goldfarb L.P. · $357.2M · 5.9% of book | 0 | n/a |
| 10 | DFTX (Definium Therapeutics Inc) | 9 (0 held before, 0 added) | $301.7M | 1.1% | Avoro Capital Advisors LLC · $94.5M · 0.9% of book | 0 | n/a |

## Sold: the names the most books got out of, Q1 2026

Ranked by funds selling out, then money out (the removed fraction of the prior reported value). Share of book is the position's share of the seller's prior book.

| # | Stock | Funds | Money | Share of book (median) | Biggest mover | Insiders bought | Rank in prior quarter |
|---|---|---|---|---|---|---|---|
| 1 | MSFT (Microsoft Corp) | 15 (of 102 holders, 34 trimmed) | $5.5B | 5.2% | Tiger Global Management LLC · $1.4B · 8.9% of book | 1 | n/a |
| 2 | CRM (Salesforce Inc) | 12 (of 31 holders, 9 trimmed) | $1.9B | 1.4% | Generation Investment Management LLP · $734.6M · 5.1% of book | 2 | n/a |
| 3 | EXK (Exact Sciences Corp) | 11 (of 12 holders, 0 trimmed) | $870.8M | 0.4% | Pentwater Capital Management LP · $736.3M · 3.9% of book | 0 | n/a |
| 4 | CRH (CRH PLC) | 9 (of 21 holders, 3 trimmed) | $477.6M | 1.1% | Baupost Group LLC · $133.9M · 2.5% of book | 2 | n/a |
| 5 | TEAM (Atlassian Corporation) | 9 (of 13 holders, 1 trimmed) | $65.8M | 0.6% | Anomaly Capital Management, LP · $22.6M · 0.8% of book | 0 | n/a |
| 6 | META (Meta Platforms Inc) | 8 (of 76 holders, 27 trimmed) | $1.4B | 4.0% | Coatue Management LLC · $640.2M · 6.2% of book | 0 | n/a |
| 7 | FLUT (Flutter Entmt PLC) | 8 (of 16 holders, 3 trimmed) | $1.2B | 0.8% | Tiger Global Management LLC · $860.9M · 2.9% of book | 7 | n/a |
| 8 | FISV (Fiserv Inc) | 8 (of 15 holders, 1 trimmed) | $259.9M | 1.0% | Baupost Group LLC · $147.8M · 2.8% of book | 6 | n/a |
| 9 | UNH (Unitedhealth Group Inc) | 7 (of 35 holders, 12 trimmed) | $1.9B | 0.5% | Berkshire Hathaway Inc · $1.7B · 0.6% of book | 0 | n/a |
| 10 | GOOGL (Alphabet Inc) | 7 (of 88 holders, 36 trimmed) | $1.9B | 3.5% | Coatue Management LLC · $791.3M · 5.4% of book | 0 | n/a |

## The most focused books, Q1 2026

480 positively classified conviction filers scored. Score is a 0-100 price-free percentile blend: 40% breadth-adjusted top-10 focus, 20% reported book growth, 40% evidence-adjusted insider co-buy. Not a return ranking.

| # | Score | Fund | Reported book (change) | Top 10 share | Biggest bet | Biggest move this quarter |
|---|---|---|---|---|---|---|
| 1 | 96 | Lynx1 Capital Management LP (Hedge fund, 23 names) | $632.7M (+28%) | 97% | STOK $155.1M (25% of book) | AGIO +$85.7M (added) |
| 2 | 94 | EcoR1 Capital, LLC (Hedge fund, 29 names) | $2.4B (+7%) | 90% | ZYME $575.2M (24% of book) | CNTA +$114.6M (added) |
| 3 | 93 | Gendell Jeffrey L (Hedge fund, 100 names) | $7.3B (+28%) | 80% | IESC $4.9B (67% of book) | APH +$45.5M (opened) |
| 4 | 91 | Hound Partners, LLC (Hedge fund, 34 names) | $799.4M (+8%) | 80% | NCLH $106.8M (13% of book) | HOOD +$73.1M (opened) |
| 5 | 91 | Avidity Partners Management LP (Hedge fund, 52 names) | $505.3M (+46%) | 80% | DNTH $176.6M (35% of book) | CATX +$11.8M (added) |
| 6 | 90 | Hill City Capital, LP (Hedge fund, 23 names) | $2.8B (+6%) | 83% | MTZ $693.3M (25% of book) | STM +$79.5M (opened) |
| 7 | 89 | Sessa Capital IM, L.P. (Hedge fund, 31 names) | $5.5B (+3%) | 82% | WBD $877.8M (16% of book) | KMB +$427.5M (opened) |
| 8 | 89 | Samsara BioCapital, LLC (Hedge fund, 22 names) | $1.0B (+6%) | 92% | SRRK $339.1M (33% of book) | SGP +$54.7M (opened) |
| 9 | 88 | Tyro Capital Management LLC (Hedge fund, 23 names) | $920.6M (+70%) | 81% | ESTA $65.4M (7.1% of book) | WDC +$16.1M (opened) |
| 10 | 88 | Insight Holdings Group, LLC (Hedge fund, 28 names) | $1.4B (+7%) | 90% | HNGE $361.5M (25% of book) | EQPT +$275.5M (opened) |
| 11 | 88 | North Reef Capital Management LP (Hedge fund, 60 names) | $2.9B (+17%) | 66% | FHN $329.0M (11% of book) | KEY +$253.6M (opened) |
| 12 | 88 | Proem Advisors LLC (Hedge fund, 29 names) | $1.7B (+90%) | 74% | NVDA $44.5M (2.7% of book) | AMZN −$32.1M (trimmed) |
| 13 | 87 | Black Maple Capital Management LP (Hedge fund, 80 names) | $179.5M (+26%) | 61% | EXE $7.5M (4.2% of book) | EXE +$7.5M (opened) |
| 14 | 87 | Wallace Capital Management Inc. (Hedge fund, 75 names) | $870.8M (+5%) | 76% | WTM $173.1M (20% of book) | UHAL/B +$24.2M (opened) |
| 15 | 86 | Kopernik Global Investors, LLC (Hedge fund, 27 names) | $1.4B (+14%) | 72% | SA $207.8M (15% of book) | SLB −$50.1M (exited) |

## Where the same books rotated by sector

- Health Care: +$22.6B conviction-weighted net flow
- Energy: +$22.1B conviction-weighted net flow
- Utilities: +$5.8B conviction-weighted net flow
- Information Technology: −$32.5B conviction-weighted net flow
- Consumer Discretionary: −$12.9B conviction-weighted net flow

Full chart: https://arkolith.com/rotation?period=2026-03-31

## Questions

**What stocks were hedge funds buying in Q1 2026?**

Across the 295 most focused 13F books, the names opened by the most funds were NVDA (16 new positions, $3.2B in), SNDK (14 new positions, $451.4M in) and MU (14 new positions, $287.5M in). "Opened" means the fund did not hold the name in its prior 13F; money in is the added fraction of the filer's own reported value, never a market price.

**What were hedge funds selling in Q1 2026?**

The names the most focused books sold out of were MSFT (15 exits, $5.5B out), CRM (12 exits, $1.9B out) and EXK (11 exits, $870.8M out). An exit is a position present in the prior 13F and absent now; money out is the removed fraction of the prior reported value.

**What does smart money mean on this page?**

Positively classified conviction filers only: hedge funds, private equity, family offices and holding companies with an eligible 13F book. Index funds, wealth platforms, pensions, insurers, endowments and unclassified filers never appear. 480 such books scored in Q1 2026; the tables read the 295 highest-scoring ones with a comparable prior filing. 13F holdings are filed up to 45 days after quarter-end; positions are as of 2026-03-31 and were broadly public by ~2026-05-15. This is where money WAS, not where it is now.

## Editions

- Q2 2026: https://arkolith.com/smart-money
- Q1 2026: https://arkolith.com/smart-money/2026-q1

## Get the full board and the brief behind any name

- MCP: `get_smart_money_leaderboard(period="2026-03-31")`, then `capital_change_brief(ticker="NVDA")`
- REST: `GET https://arkolith.com/api/v1/rotation/smart-money?period=2026-03-31`
- HTML: https://arkolith.com/smart-money/2026-q1

## Full data via the API and MCP

This page is a teaser. The complete book, full quarter-over-quarter history, and per-datapoint
provenance are available through the metered REST API and MCP server.

- Endpoint: https://arkolith.com/api/mcp (transport: streamable-http)
- Auth: Bearer API key. Mint one and copy a ready-to-paste command at https://arkolith.com/connect
- Claude Code: `claude mcp add --transport http arkolith https://arkolith.com/api/mcp --header "Authorization: Bearer YOUR_API_KEY"`
- Discovery: `tools/list` costs no credits but needs the API key (the server answers 401 without one); `tools/call` is metered by credits.

### Machine-readable
- Tool catalog JSON: https://arkolith.com/api/mcp/catalog
- MCP descriptor: https://arkolith.com/.well-known/mcp.json
- OpenAPI 3.1 REST spec: https://arkolith.com/openapi.json
- Full LLM guide: https://arkolith.com/llms-full.txt
- Human docs: https://arkolith.com/docs

## Source and method

- SEC EDGAR Form 13F (institutional holdings) and Form 4 (insider transactions), public domain. Positions are as reported by the filer; no market price enters any number.
- Primary source: https://www.sec.gov/cgi-bin/browse-edgar?action=getcurrent&type=13F
- Human page: https://arkolith.com/smart-money/2026-q1
- Per-datapoint lineage: call the `provenance.get` MCP tool for the source URL and fetch history behind any figure.

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_Latest disclosed public filings. Data, not investment advice._