Two hedge fund managers with a track record for market beating returns sold Nvidia and bought Palantir in the second quarter.

Nvidia ( NVDA 0.18% ) shares are up 1,100% since January 2023, while Palantir Technologies ( PLTR 0.28% ) shares have advanced 2,360%. But the following hedge fund managers sold the former and bought the latter in the second quarter, a surprising move given that Wall Street analysts generally think Palantir is overvalued.

Billionaire Israel Englander at Millennium Management sold 1.1 million shares of Nvidia, reducing his position 12%. He also bought 3.6 million shares of Palantir, increasing his position 282%.

Billionaire Chris Rokos at Rokos Capital Management sold 283,544 shares of Nvidia, reducing his position 14%. He also added 103,409 shares

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