Polen Capital's Q3 2026 investor letter for its Polen Focus Growth Strategy says the fund returned 4.46% net of fees in the quarter, beating the Russell 1000 Growth Index's 0.92% gain by 3.54 percentage points. Year to date, however, the net return was still negative at 8.11%, versus a 6.30% gain for the benchmark. Software and services holdings drove relative gains, offsetting weakness in semiconductor and direct AI-capex beneficiaries that faced valuation pressure as investors reconsidered infrastructure spending. The managers added positions in semiconductor equipment, power infrastructure, payments and data-storage companies, and highlighted NVIDIA (NASDAQ:NVDA) in the letter. NVIDIA shares fell 4.00% over one month, closed at about $221.97 on October 21, 2026, with a market cap of about $5.21 trillion, and traded between $164.27 and $243.37 over the past 52 weeks.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
NVDAartificial intelligenceinvestment trustssemiconductors
Open a keyword to see other news on the same topic.
Related tickers and likely impact
NVDA
▲ Likely positiveNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/21/2026 | 221.87 |
| Change that session | +2.49% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- NVIDIA Corporation $NVDA Shares Acquired by Van ECK Associates Corp
Van ECK Associates Corp raised its NVIDIA holdings by 34.7% in the second quarter, to 75,849,721 shares, making NVIDIA its largest position at about 9.6% of its portfolio. Other institutional investors also changed their stakes, while insiders sold 1,766,118 shares over the last three months, including CFO Colette Kress, who sold 34,918 shares under a pre-arranged Rule 10b5-1 plan. NVIDIA shares opened at $217.23, with a market cap of $5.24 trillion. In its latest quarter, NVIDIA reported EPS of $2.22 and revenue of $96.22 billion, both ahead of analyst estimates. The board also initiated a $150.00 billion share buyback plan.
- NVIDIA Corporation $NVDA Holdings Increased by Trustmark Bank Trust Department
Trustmark Bank Trust Department raised its NVIDIA (NASDAQ:NVDA) stake by 5.0% in the second quarter, to 124,608 shares worth $24,933,000 per its latest SEC filing. NVIDIA makes up 1.5% of the fund's holdings, its 12th largest position. The report also notes insider selling over the last three months, totaling 1,766,118 shares valued at $399,450,353, including a director's sale of 622,239 shares at an average $231.62. The average analyst rating is “Buy” with an average target price of $321.89. In related news, Volvo Cars expanded its NVIDIA partnership for automated driving systems.
- NVIDIA (NVDA) Is Strengthening AI Conviction Balanced Against Evolving Competitive Risks
The L1 Capital International Fund (unhedged) said in its Q3 2026 investor letter that NVIDIA was a leading contributor. The Fund returned +3.5% net of fees in the September 2026 quarter, beating its benchmark's 1.5% gain despite a stronger Australian dollar, and held 22 investments with the ten largest making up about 63% of assets. It views AI as both an opportunity and a source of uncertainty, and focuses on businesses with durable competitive advantages, earnings and cash generation. NVIDIA closed at $216.47 on October 20, 2026, down 4.01% over the past month but up 20.07% over the past year, with a market capitalization of $5.22 trillion. The letter notes NVIDIA's market cap is roughly ten times Cisco's at the peak of the dot-com bubble while its forward earnings multiple is about ten times lower, though it acknowledges risks and possible price corrections.
- Nvidia has a $35 billion problem most companies would want
- Meta and chip stocks decline as AI trade comes under pressure: AlphaCheck
Stocks fell Thursday as semiconductor names dropped, with the AI trade under pressure after quarterly results from Meta and Tesla. Meta sank 6%, while Nvidia, AMD, Micron and SK Hynix also declined, and Lam Research fell as much as 10% after citing 'supply chain constraints' heading into 2027. Brent crude futures jumped to a five-month high of $111 per barrel and WTI traded near $98, after a report of possible US and Israel attacks on Iran following the November mid-term elections.
- Nvidia's Jensen Huang says he sees no sign of a 2029 memory glut: 'You can always use more'
Nvidia CEO Jensen Huang told CNBC that a memory supply surplus is unlikely by 2029, despite a sell-off in memory stocks over the past week. The drop followed an October 15 column in a South Korean publication warning of a flood of new supply and a possible downturn after 2029, as well as news that China's CXMT unveiled a new design architecture that could take market share from SK Hynix, Samsung and Micron. Huang said memory, including HBM and the LPDDR Nvidia uses in data centers, will keep being used in large amounts, and he was open to working with CXMT. He also argued that U.S. chip export rules have accelerated China's push to nationalize semiconductor manufacturing, while saying American tech firms are 'mighty' and ready to compete.
Related markets
Latest news
- What Does i-80 Gold (TSX:IAU) Prioritizing Mineral Point Mean For Its Nevada Plan?
i-80 Gold (TSX:IAU) has outlined an updated Nevada development plan that puts the Mineral Point open pit next in line after the underground hub, alongside progress on refurbishing assets such as the Lone Tree processing plant. The company is also advancing permits across its Nevada portfolio to build out several deposits in a coordinated way. The article says this could move i-80 Gold toward a blended operation combining high-grade underground feed with large-scale heap leach oxide output, spreading fixed costs, though execution and cost control remain central risks. Key checkpoints include first ore from Archimedes underground in Q4 2026, completion of Lone Tree feasibility and pre-commissioning steps toward a late 2027 plant start-up, and Mineral Point and Archimedes studies targeted around mid-2027.
- Meta's Threads Now Has More Monthly Users Than X
Mark Zuckerberg told investors on the October 21, 2026 earnings call that Threads has overtaken X in monthly actives, but Meta published no figure to support the claim. The last reported Threads count was 500 million monthly users, announced June 16, 2026. Third-party estimates measure daily mobile users instead: Threads first passed X globally in the week of September 15 to 21, 2025, at 130.2 million versus 130.1 million, while X still leads on web and among U.S. mobile users. X's advertising revenue was $1.248 billion for the first nine months of 2026, below $1.323 billion a year earlier, and Meta's financials show no benefit from the user lead yet.
- Famous Billionaire Calls AI a Bubble — But That Is Not What His Money Says
Citadel founder Ken Griffin told Bloomberg at Citadel's Future of Global Markets conference that there are almost certainly bubbles within the current AI boom. He compared GPUs to airline seats, warning that once capacity exceeds demand prices may collapse, similar to the fiber-optic bust around 2000. Yet Citadel's amended 13F for Q2 2026 showed about $8.6 billion in five AI-linked companies, with Amazon its second-largest holding; its Amazon and Microsoft share counts rose 34% and 43%, while Nvidia shares fell about 37%. The filing also disclosed options on Nvidia and Micron that may hedge risk, and it is only a snapshot as of June 30.
- Procter & Gamble Jumps 6% as Earnings Beat Draws Defensive Buyers; Johnson & Johnson Rises 3%, Coca-Cola Ticks Up
Procter & Gamble shares rose 6% to $166.19 in morning trading after its Q1 FY2027 results beat expectations, with core EPS of $2 versus the $1.89 consensus and net sales of $23.28 billion against $22.82 billion expected. CFO Andre Schulten said the U.S. consumer is “remarkably resilient,” though lower-income shoppers are more cautious. The company kept its full-year outlook of 1% to 3% organic sales growth and core EPS of $6.89 to $7.11. Core gross margin fell 150 basis points year over year, and the company expects $1.4 billion in after-tax commodity cost pressure this fiscal year. Johnson & Johnson rose 3% and Coca-Cola 2% as defensive stocks drew buyers, while the SPDR S&P 500 ETF Trust fell 1%.
- Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought
Ark Invest, which publishes Cathie Wood's ETF trades daily, added to existing positions in Netflix (NFLX), Oklo (OKLO) and Intuitive Surgical (ISRG) on Wednesday, and all three are down between 7% and 80% over the past year. Netflix hit a two-year low after guiding to an 11.5% revenue increase for the final quarter, its weakest showing in more than three years, though it has more than 300 million members and trades at 17 times next year's estimated earnings. Oklo has surrendered 86% of its value from its all-time high, with a $5.2 billion market cap and revenue not expected to top $10 million next year. Intuitive Surgical is down 7% over the past year and nearly a quarter in 2026, as analysts see revenue growth slowing to 13% next quarter.
- Vistra Is Up 11% in a Month. Is Washington’s $4.2 Billion Nuclear Loan Really That Good?
Vistra (VST) shares are up 11% over the past month after a conditional commitment of up to $4.2 billion from the Energy Department for 433 MW of uprates at Beaver Valley, Davis-Besse and Perry, and a 20-year Constellation Energy deal with Google lifted power producers. The article sees the loan as a good deal for those three plants, but it comes with conditions and does nothing about the soft Texas power prices weighing on the 2027 outlook. Analysts expect normalized EPS to more than double from $4.76 in 2025 to $10.37 in 2027, yet the stock trades at about 15x forward earnings, in line with its five-year average. Vistra updates its 2027 guidance with third-quarter results on Nov. 6, and the author argues the stock is worth owning into that report. However, if the 2027 adjusted EBITDA midpoint falls well short of about $8.1 billion and management blames Texas prices, the loan will not help much.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.