NVIDIA Corporation $NVDA is Bessemer Group Inc.’s 2nd Largest Position

Bessemer Group modestly increased its NVIDIA stake in Q2 by 0.9% to 22.11M shares—about 5.7% of its portfolio and roughly 0.09% of NVIDIA worth $3.49B—making NVDA its second-largest holding. The filing highlights broad institutional activity, including large reported purchases or position increases by Kingstone, Nuveen, Goldman Sachs (to 188.0M shares, ~$20.37B), and Amundi, leaving institutions with roughly 65.3% ownership. NVIDIA reported a quarterly beat—$1.30 EPS versus $1.23 expected and $57.01B revenue versus $54.66B expected, revenue up 62.5% YoY, with a 52.4% net margin and ROE of 101.7%—and announced a $0.01 quarterly dividend; the stock was about 1% lower on the update. Insiders have net sold 3.25M shares (~$583.1M) over the last three months, while analysts remain overwhelmingly positive (consensus “Buy,” average target $257.79).

Analysis

Bessemer Group increased its NVIDIA position by 0.9% in Q2 to 22.11 million shares, representing 5.7% of its portfolio and roughly 0.09% of NVIDIA valued at $3.49 billion; the 13F also shows outsized institutional activity with Kingstone, Nuveen, Goldman Sachs and Amundi materially expanding holdings, leaving institutions owning 65.27% of the stock. This scale of institutional accumulation underscores continued buy-side conviction even as the share count disclosures include unusually large reported purchases.

NVIDIA reported a material beat for the most recent quarter with $1.30 EPS versus $1.23 expected and revenue of $57.01 billion versus $54.66 billion, driving 62.5% year‑over‑year revenue growth, a 52.41% net margin and a 101.74% return on equity; analysts project $2.77 EPS for the fiscal year and the company set Q4 FY2026 EPS guidance (no figure disclosed in the filing). Strong operating profitability supports the premium positioning reflected in analyst upgrades and a consensus Buy with an average target of $257.79.

Management disclosed a $0.01 quarterly dividend (annualized $0.04, yield ~0.0%, payout ratio 0.99%), while insiders sold 3.25 million shares worth $583.1 million in the last three months though they still hold 4.17% collectively; the stock traded down ~1.0% on the update. The mix of robust fundamentals, heavy institutional accumulation and recent insider selling points to positive momentum tempered by monitoring needs on insider flows and guidance details.

Key Decisions for Investors

• Consider adding to exposure on pullbacks given the quarter beat (EPS $1.30 v. $1.23) and strong revenue growth (+62.5% YoY), but size new purchases in tranches to manage timing risk
• Monitor insider selling closely—3.25M shares worth $583.1M sold over three months—and watch forthcoming guidance detail for Q4 to ensure earnings visibility before increasing position size
• Track institutional filings and analyst target revisions (consensus Buy; avg. target $257.79) for conviction signals and consider hedging large positions around earnings or macro events due to concentrated ownership