Jane Street Doubles Nvidia Stake Before Executive Scandal Erases Value

Prominent quantitative trading firm Jane Street heavily increased its position in Nvidia during the third quarter, lifting its holdings to 23.8 million shares valued at approximately $5.44 billion as of September 30, according to recent regulatory disclosures. The filings indicate the firm more than doubled its previous stake of 11.8 million shares, making the semiconductor giant its second-largest holding behind the SPDR S&P 500 ETF Trust.

The disclosure precedes a tumultuous period for Nvidia, marked by the resignation of longtime CEO Jensen Huang following revelations regarding personal relationships. The leadership upheaval sent Nvidia shares tumbling nearly 13% over a five-day stretch, hitting a 17-month intraday low. Colette Kress, the company's chief financial officer, has taken over as interim chief executive.

Because quarterly 13F filings reflect only snapshot holdings at the end of the period and do not account for subsequent short positions or complex options strategies, the disclosures do not clarify Jane Street's ultimate net profit or loss resulting from the recent sell-off. The trading firm declined to comment on the filings.