By Trevor Jennewine
Publication Date: 2026-03-04 08:39:00
In the past year, Nvidia (NVDA 1.33%) stock has increased 46%, while Sandisk (SNDK 8.81%) shares have added 1,220%. But two hedge fund billionaires bought Nvidia and sold Sandisk in the fourth quarter.
- Cliff Asness at AQR Capital Management bought 3.9 million shares of Nvidia, increasing his stake by 18%. He also sold 318,600 shares of Sandisk, reducing his stake by 22%. Nvidia is now the largest position in his portfolio. Sandisk does not rank among the top 50.
- Steven Schonfeld at Schonfeld Strategic Advisors bought 2 million shares of Nvidia, more than tripling his stake. He also sold 41,800 shares of Sandisk, reducing his stake by 27%. Nvidia is now the third-largest position in his portfolio. Sandisk does not rank among the top 50.
Asness and Schonfeld handily beat the S&P 500 (^GSPC 0.94%) during that last three years, which makes their portfolios a good place to search for inspiration. Both fund managers clearly favor Nvidia over Sandisk. Here’s why I agree.
Image source: Getty Images.
Nvidia has a larger market opportunity than Sandisk
Sandisk and Nvidia are semiconductor companies that design data center hardware that supports artificial intelligence (AI) workloads. However, they compete in different product categories and have achieved different levels of success within their respective markets.
Sandisk builds data storage solutions based on NAND flash memory, such as enterprise solid-state drives (SSDs). It is the fifth-largest supplier of NAND flash memory…
