RESEARCH — THE FILING TAPE #4

Nineteen of 83: The Superinvestors Own NVIDIA. Its Insiders Have Never Bought a Share.

October 8, 2026

GetCoattail Research — NVIDIA is the AI trade itself: a $150 billion buyback increase, a record closing high, and an index weight larger than Japan's entire market. We ran it through every filing lens we maintain. For the first time in this series, the smart money is visibly there — and the disagreements are in who is quietly reducing, and the one cohort that has never bought at all.

Start with the narrative. NVIDIA, maker of the GPUs the AI build-out runs on, closed at a record high in the first week of October 2026, with a market value of about $5.77 trillion at the October 6 price of $239.24 in our fundamentals file. On September 28, 2026, its board authorized a $150 billion increase to the share repurchase program, lifting the remaining total to $235 billion — reported as the largest buyback authorization increase in history. NVIDIA now accounts for 5.21% of the MSCI All Country World Index — more than Japan's 5.16% — and Wedbush's Dan Ives rates it outperform with a $300 target. On Reddit's investing boards it was the third most-mentioned ticker on October 7. Fiscal 2026 revenue — the year ended January 2026 — was $215.94 billion, with net income of $120.07 billion.

Now the filings. GetCoattail tracks the portfolios, trades and disclosures of the investors with the most information about any given company: concentrated superinvestors, institutions as a whole, corporate insiders, members of Congress, and 5% holders. For NVIDIA — the fourth Filing Tape audit, after IREN, CoreWeave and Micron — the first lens finally lights up. The rest of the tape is more complicated.

Lens 1: the superinvestors — nineteen names, reducing on balance

We track 83 large, mostly long-only managers whose 13F portfolios we collect directly from SEC EDGAR. As of June 30, 2026, nineteen held NVIDIA — the most of any name in this series (twenty reported rows; one manager reports common stock and a put separately). The cohort owns it in size: Tiger Global holds 11,198,773 shares worth $2,240,762,490 (9.34% of its portfolio), H&H International holds 6,280,675 shares worth $1,256,700,261 (6.58%), and Mairs & Power, Polen Capital, Egerton Capital and Maverick Capital each hold positions worth between roughly $612 million and $942 million.

Read the direction column, though, and the quarter was a trimming quarter. Of the nineteen long positions, eleven were decreased, four increased, three were unchanged and one was new. In aggregate, on the pipeline basis we use to compare quarters consistently, the cohort held 44,756,174 NVIDIA shares at March 31, 2026 and 36,293,621 at June 30 — 18.9% fewer shares — in a quarter when the share price rose 14.7%, from a $174.40 close to $200.09 in our price file. The largest single move was H&H International, the cohort's biggest NVIDIA holder at March 31 with 13,843,775 shares: it reported 6,280,675 at June 30, a cut of 54.6%. Tiger Global trimmed 6.8% and became the largest holder. The increases were smaller: Egerton added 27.8%, Appaloosa added 3.6% to 1,525,000 shares, and Davis Advisors added 36.3% to a 154,727-share position. The filings do not say why holders trim into strength, and we do not guess. The balance: the superinvestors are in NVIDIA, and in the second quarter they collectively owned less of it.

NVDA through six filing lenses
Chart 1: Signal presence by cohort. Superinvestors: 83 managers, 2026Q2 13F (as of Jun 30, 2026). Institutions: full-market 13F aggregation, same date. Insiders: Form 4 record through Oct 2, 2026. Congress: Senate and House PTR record through Oct 3, 2026. 13D/G: filings through Apr 28, 2026. Short interest: FINRA biweekly settlement data through Sep 15, 2026. Source: SEC EDGAR; FINRA; GetCoattail collections.

Lens 2: institutions — already everywhere

Zoom out to the whole 13F market and NVIDIA is simply ubiquitous. At June 30, 2026, 5,939 institutions reported positions, up from 5,742 at March 31 — a 3.4% increase, the slowest breadth growth in this series, in a register that added 1,845 filers and lost 1,648 in the quarter. Reported share counts rose 20.43%, from 13,794,758,461 to 16,613,221,322 shares, and 5,909 filers reported long positions. The dataset's reported aggregate value rose 37.6% to $3,373,216,090,722; the aggregate includes option rows, so we treat filer and share counts as the reliable series and the dollar figure as reported (see methodology). One plausible reading of the modest filer growth is saturation: a stock already held by nearly six thousand institutions has few left to arrive. Note the contrast inside the quarter: existing holders, in aggregate, reported more shares, while the tracked cohort cut its count 18.9%.

Lens 3: the 5% register — passive, as expected

Three SC 13D/G filings cover NVIDIA, and all three are 13G — the passive form. There is not one 13D, the filing an investor uses when it wants something from management. The largest reporter is The Vanguard Group at 9.32% (2,266,625,855 shares, as of December 31, 2025, in an amendment filed January 30, 2026). Vanguard Capital Management reported 7.31% (1,777,408,252 shares, as of March 31, 2026) in the most recent filing, on April 28, 2026. For a company of NVIDIA's size, a quiet, index-dominated register is the expected shape. No activist has filed.

Lens 4: insiders — $968 million sold in ninety days, zero bought, ever

In the 90 days through October 2, 2026, NVIDIA insiders filed 16 reports covering 25 sale transactions totalling $967,599,313.46 — 4,332,118 shares sold by three insiders. Open-market purchases in the same window: zero.

Widen the window and the zero does not move. Over the full year through October 2, 2026, the record shows 300 sale transactions totalling $2,123,341,834.60 by twelve sellers — and zero open-market purchases. Across the entire parsed Form 4 record — 178 filings, 715 sale transactions, $3,797,459,610.89 sold by sixteen sellers, 607 of the sales by officers — there is not one open-market purchase by any insider, officer or otherwise, at any price. Our site's separate 90-day insider aggregate, compiled on a different as-of date, matches the full-parse figure exactly: zero buys, 25 sales, $967,599,313.46, three sellers. Some insider selling is mechanical — vesting and tax withholding generate filings regardless of anyone's view — and we assign no motives. But the purchase side has no mechanical explanation: through a multi-year run that carried the stock from a $165.17 closing low on March 30, 2026 to a $235.74 closing high on May 14, 2026, nobody inside NVIDIA has paid market price for a share in the parsed record.

Lens 5: Congress — buying Micron, selling NVIDIA

Across the Senate and House transaction record we maintain (as of October 3, 2026), five members of Congress have traded NVIDIA: five purchases and fourteen sales, with the most recent purchase on August 18, 2026, and both parties represented. The House accounts for all five purchases and eight of the sales; the Senate record shows six sales and no purchases. The direction is the reverse of our previous audit: Micron recorded four congressional buys against two sells, while NVIDIA — the larger, more celebrated name — records sells at nearly three times the buy count. Congressional disclosures report ranges rather than exact amounts, and the counts are small; direction is all this lens claims, and here it points against the narrative.

Lens 6: short interest — large in shares, small in everything else

As of September 15, 2026 — the most recent FINRA settlement date — 294,225,803 NVIDIA shares were sold short, with days-to-cover of 2.55. Against the 24,100,000,000 shares the company most recently reported outstanding, that is 1.22% — a smaller share of the company than in any previous audit in this series (Micron 2.45%, CoreWeave roughly 10%, IREN roughly 23%).

Short interest in NVDA since the June 2024 split, June 2024 to September 2026
Chart 2: Shares sold short in NVDA at each FINRA biweekly settlement since the 10-for-1 split settlement, Jun 14, 2024 – Sep 15, 2026 (n = 55 settlements). FINRA figures are as reported at the time and are not split-adjusted, so the series is shown only from the first post-split settlement. The series peaked at 324,052,767 shares on Jul 15, 2026. Source: FINRA Equity Short Interest files; GetCoattail collection.

The level is up 35.3% from a year ago (217,485,473 shares at September 15, 2025) and sits 9.2% below the post-split peak of 324,052,767 shares on July 15, 2026. It is also below the 315,033,985 shares reported at the first post-split settlement on June 14, 2024: in share terms, the short position is roughly where it stood two years — and a near-doubling of the share price — ago. Whatever scepticism exists about NVIDIA's valuation, it is not expressed as a large borrow.

The gap, stated plainly

NVIDIA is the mirror image of this series' first audit. IREN had breadth without a single tracked superinvestor; NVIDIA has nineteen of them, 5,939 reporting institutions, and a passive register headed by a 9.32% index holder. The sponsorship the earlier names lacked is here, in full. What is missing is the same thing that was missing there, in the cohorts closest to the company: insiders have never, in the parsed record, bought a share on the open market, and sold $967.6 million worth in the last ninety days; the tracked superinvestors, while heavily invested, cut their aggregate share count 18.9% in the stock's rising second quarter, led by the largest holder cutting by more than half; and members of Congress, on the record, filed nearly three sale transactions for every purchase. The filings describe the market's most-owned stock as one the whole world holds, the best-informed holders are trimming at the margin, and the people inside the building have only ever sold.

What would change the picture

Nothing above is a recommendation. It is a record. These are the filings that would change the description, in the order the data will arrive:

Until one of those prints, the filing record describes the defining stock of the AI era as broadly owned, lightly shorted, trimmed by its largest tracked holders — and never once bought, on the open market, by the people who run it.

Related reading: Five of 83: Micron's Superinvestor Count Rose. Its Biggest Holder Cut Shares 41%. — Filing Tape #3; Zero of 83: The Superinvestors Aren't in IREN — Filing Tape #1; 80% Overlap, No Copycat Signal: Congress vs. the Superinvestors. NVIDIA's own page: NVIDIA (NVDA) on GetCoattail.

Methodology and data notes

This article describes public filings as of the dates stated. It is not investment advice and makes no recommendation. Filings lag reality: 13F positions are as of June 30, 2026, and later trading is not yet public.

Revision history

MORE RESEARCH

Five of 83: Micron's Superinvestor Count Rose. Its Biggest Holder Cut Shares 41%.
Five of the 83 superinvestors we track hold Micron, but four total just 4,425 shares — and Appaloosa, the only sized holder, cut its share count 41.4% in the stock's best quarter, while insiders sold $134,325,384.10 in 90 days with zero purchases and short interest sits at just 2.45% of shares outstanding.
80% Overlap, No Copycat Signal: Congress vs. the Superinvestors
Four of five congressional stock buys land in a stock the superinvestors hold — 688 shared names. But ticker by ticker, how often Congress buys a stock has almost nothing to do with how many managers hold it (ρ = 0.099), and the shared names did not pay better.