Billionaire Hedge Fund Manager Dumps Nvidia Stock and Backs Palantir, Robinhood, and Circle Stock

TLDR

• Billionaire Israel Englander sold 3 million Nvidia (NVDA) shares, trimming his position by 17%, while doubling his Palantir (PLTR) stake in Q4 2025.
• Englander also bought shares in Robinhood (HOOD) and Circle Internet Group (CRCL), both down sharply from their highs.
• Wall Street analysts see 113% upside in Robinhood and 206% upside in Circle at current prices.
• Palantir is the most expensive stock in the S&P 500 at 72x sales, despite dropping 35% from its high.
• The stablecoin market is estimated to grow from $315 billion to as much as $3 trillion by 2030.

Israel Englander runs Millennium Management, one of the most watched hedge funds on Wall Street. His fund has beaten the S&P 500 by 38 percentage points over the last three years.

In Q4 2025, Englander made some clear moves. He sold 3 million shares of Nvidia (NVDA), cutting his position by 17%. At the same time, he doubled his stake in Palantir Technologies (PLTR), buying 543,300 shares.

Palantir Technologies Inc., PLTR

He also bought into two crypto-linked stocks: Robinhood Markets (HOOD) and Circle Internet Group (CRCL). Both are down heavily from their peaks — Robinhood by 50%, Circle by 75%.

These trades were filed in public disclosures and reflect positions from around 50 days ago. Investors should weigh current conditions before copying these moves.

Why Englander Still Holds Nvidia

Nvidia remains the third-largest holding in Englander’s fund. The sell-off looks more like profit-taking than a loss of confidence.

Nvidia dominates AI infrastructure through its GPUs and its CUDA software platform. CEO Jensen Huang has stated the company offers the best performance per total cost of ownership in the data center market.

Wall Street expects Nvidia’s earnings to grow at 38% annually over the next three years. The stock trades at 47 times earnings, which analysts consider fair given that pace of growth.

Palantir’s Numbers Are Strong, But the Price Is High

Palantir (PLTR) has seen sales growth accelerate for 10 straight quarters. It posted a Rule of 40 score of 127% in Q4, combining revenue growth and operating margin.

Despite that, Palantir is the most expensive stock in the S&P 500. It trades at 72 times sales, well above its closest peer. Englander’s position is small — Palantir doesn’t rank in his top 50 holdings.

Crypto Stocks Robinhood and Circle Draw Analyst Attention

Robinhood (HOOD) operates a trading platform popular with millennial and Gen Z investors. Analysts at Deutsche Bank and Bernstein have set a price target of $160, implying 113% upside from $75.

Circle (CRCL) issues USDC, the largest fully regulated stablecoin in the U.S. and Europe. Analysts at Needham and Bernstein see the stock reaching $190, implying 206% upside from $62.

The stablecoin market currently sits at $315 billion. U.S. Treasury Secretary Scott Bessent has said it could reach $3 trillion by 2030.

Circle’s Revenue Model and Growth Outlook

Circle earns most of its revenue from interest on the assets backing its stablecoins. It has also launched the Circle Payments Network for cross-border transactions.

Wall Street forecasts Circle’s revenue growing at 33% annually through 2027. The stock currently trades at 5.8 times sales. Among 27 analysts, the median price target is $107, implying 73% upside from the current $62 share price.

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