NASDAQ · Technology
NVDA stock analysis: filings, institutional holders, and operating trends
NVIDIA designs GPUs, accelerated computing platforms, networking products, and AI infrastructure software used in data centers, gaming, professional visualization, and automotive systems. This page connects filing evidence with ownership, insider activity, forecasts, ETFs, and peer context so each dataset can be checked against the others.
Deterministic, source-linked commentary
NVDA signals across filings and ownership
For NVDA, the filing evidence matters before the market narrative. 10-K covers CY2021. quarterly revenue was $3.1B; year-over-year growth was 40.8%; operating margin was 29.9%; trailing free cash flow was $120.0B. Read together, these figures test whether scale is translating into profit and cash. Verify periods and company footnotes in the original SEC EDGAR filing.
Reported institutional positions offer a delayed but useful cross-check. 7 tracked managers reported $4.0B of aggregate value. Third Point recorded the largest measured share-count move at -93.6%. 13F positions arrive after quarter end and exclude many shorts, cash balances, and derivatives; inspect the full holder record before drawing a conclusion.
The valuation range should move when NVDA's operating assumptions move. The forecast scenarios were updated 2026-05-21. Revenue growth, margins, cash generation, and risk assumptions must be checked against each new filing. Compare them with the latest earnings analysis.
Cross-checking the company pages keeps timing differences visible. Use institutional ownership, insider filings, earnings analysis, forecast scenarios alongside the filing. Company facts can update before 13F positions, so align every source date and report period before treating a difference as a change in fundamentals.
Business model
Company snapshot
NVIDIA designs GPUs, accelerated computing platforms, networking products, and AI infrastructure software used in data centers, gaming, professional visualization, and automotive systems. The latest standardized snapshot records $10.92B of trailing revenue, $135.43B of net income, and $119.99B of free cash flow. These figures describe the reported company, while valuation and price require a separate market-data timestamp.
Operating lines
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
Geographic revenue mix
The current standardized filing dataset does not extract a comparable geographic revenue table for every issuer. Review the latest 10-K segment note for domestic and international mix, concentration, foreign-exchange sensitivity, and country-specific regulation.
10-K · 2022-03-18
What the latest filing shows
Revenue for the latest standardized quarter was $3.11B, while diluted EPS was 1.53. Revenue changed 40.8% from the comparable period. Gross margin was 64.9% and operating margin was 29.9%. Margin direction matters because it shows whether growth is translating into operating leverage or requiring more cost to support.
Open original SEC filing13F-HR
13F institutional holdings
7 tracked institutional managers currently report NVDA, representing $4.04B of aggregate value. The top five account for 94.7% of tracked value. This concentration is calculated only within SnowballHare's manager universe, not across every institutional owner.
Top institutional holders
| Holder | Shares | Value | Portfolio weight | QoQ |
|---|---|---|---|---|
| Tiger Global Management | 12,011,752 | $2.09B | 9.17% | +9.1% |
| Coatue Management | 6,331,620 | $1.1B | 3.80% | -31.2% |
| Appaloosa Management | 1,471,500 | $256.63M | 4.33% | -13.4% |
| Soros Fund Management | 1,073,206 | $187.17M | 2.05% | +61.2% |
| Scion Asset Management | 1,000,000 | $186.58M | 13.51% | New |
| ARK Invest | 1,035,426 | $180.58M | 1.40% | -17.5% |
| Third Point | 190,000 | $33.14M | 1.59% | -93.6% |
Earnings & filings
NVDA earnings calls, releases, and filing evidence
Earnings calls
No authorized call transcript summary is available yet for this ticker.
Filings & announcements
Q1 FY2027 · Earnings Release Summary
Revenue was $81.6B, up 20% from Q4 and 85% year over year.; GAAP and non-GAAP gross margins were 74.9% and 75.0%.; GAAP and non-GAAP diluted EPS were $2.39 and $1.87.
Source: NVIDIA Q1 FY2027 results · 2026-05-20Q4 FY2026 · Earnings Release Summary
Quarterly revenue was $68.1B, up 20% from Q3 and 73% year over year.; Fiscal 2026 revenue was $215.9B, up 65% from a year earlier.; GAAP and non-GAAP gross margins were 75.0% and 75.2%.
Source: NVIDIA Q4 and FY2026 results · 2026-02-25Q3 FY2026 · Earnings Release Summary
Revenue was $57.0B, up 22% from Q2 and 62% year over year.; Data Center revenue was $51.2B, up 25% from Q2 and 66% year over year.; GAAP and non-GAAP gross margins were 73.4% and 73.6%.
Source: NVIDIA Q3 FY2026 results · 2025-11-19Q2 FY2026 · Earnings Release Summary
Revenue was $46.7B, up 6% from Q1 and 56% year over year.; Data Center revenue was $41.1B, up 5% from Q1 and 56% year over year.; Blackwell Data Center revenue grew 17% sequentially.
Source: NVIDIA Q2 FY2026 results · 2025-08-27Q1 FY2026 · Earnings Release Summary
Revenue was $44.1B, up 12% from Q4 and 69% year over year.; Data Center revenue was $39.1B, up 10% from Q4 and 73% year over year.; Gross margin remained a key part of the premium valuation debate.
Source: NVIDIA Q1 FY2026 results · 2025-05-28Earnings history
| Date | Period | Status | Revenue | EPS | Source |
|---|---|---|---|---|---|
| 2026-05-20 | Q1 FY2027 | Reported | $81.6B | $2.39 | NVIDIA Q1 FY2027 results |
| 2026-02-25 | Q4 FY2026 | Reported | $68.1B | N/A | NVIDIA Q4 and FY2026 results |
| 2025-11-19 | Q3 FY2026 | Reported | $57.0B | N/A | NVIDIA Q3 FY2026 results |
| 2025-08-27 | Q2 FY2026 | Reported | $46.7B | N/A | NVIDIA Q2 FY2026 results |
| 2025-05-28 | Q1 FY2026 | Reported | $44.1B | N/A | NVIDIA Q1 FY2026 results |
| 2025-02-26 | Q4 FY2025 | Reported | $39.3B | N/A | NVIDIA Q4 and FY2025 results |
| 2022-03-18 | CY2019Q4 | Standardized data | $3.11B | 1.53 | SEC |
Capital and holders
Ownership structure
- Tracked 13F value: $4.04B
- Tracked active holders: 7
- Top-five concentration: 94.7%
- Shares outstanding: 24,200,000,000
Tracked 13F value is not the same as institutional ownership of float because the manager universe is intentionally limited. Insider ownership also requires the latest proxy statement and is not inferred from short Form 4 windows. This section therefore separates observed data from estimates instead of presenting false precision.
CY2019Q4
Earnings analysis
| Period | Revenue | Net income | EPS | Operating margin |
|---|---|---|---|---|
| CY2019Q4 | $3.11B | $950M | 1.53 | 29.9% |
| TTM | $10.92B | $135.43B | 5.53 | 1,278.8% |
| CY2021 | $26.91B | $9.75B | See filing | 37.3% |
NVIDIA's latest earnings confirm exceptional AI infrastructure demand, but the stock setup still depends on expectations. The quarter delivered $81.6B of revenue, Data Center revenue of $75.2B, GAAP EPS of $2.39, non-GAAP EPS of $1.87, and Q2 revenue guidance of $91.0B. The key question is whether Blackwell, networking, and AI factory demand can keep pushing estimates higher after such a large revenue step.
Read detailed earnings analysisScenario analysis
Forecast range
NVDA remains a high-quality AI infrastructure compounder, but the 2026 forecast has to balance extraordinary demand against a very high expectation bar. A practical scenario map is $185-205 bear case, $215-255 base case, and $275-325 bull case. The base case assumes the $91.0B Q2 revenue guide converts, Blackwell ramps smoothly, and non-GAAP gross margin moves back toward the guided low-70s range. The bear case is mainly export-control, margin, or valuation compression risk.
Forecast assumptions
- Revenue growth must be checked against the latest filing and management guidance.
- Current reported operating margin is 1,278.8%.
- TTM free-cash-flow margin is 1,099%.
- Discount rates and valuation multiples should move when risk-free rates, business risk, or estimate confidence changes.
This is not a buy or sell recommendation. Forecasts are conditional ranges whose assumptions can fail.
Open forecast methodology and scenariosTechnology
Peer comparison
| Company | TTM revenue | Revenue growth | Operating margin | Tracked holders |
|---|---|---|---|---|
| NVDANvidia | $10.92B | 40.8% | 1,278.8% | 7 |
| PANWPalo Alto Networks | $9.61B | 14.9% | 12.1% | 0 |
| ADBEAdobe Inc. | $23.97B | 12% | 37% | 0 |
| PLTRPalantir Technologies | $4.7B | 84.7% | 33.9% | 2 |
| CRWDCrowdStrike | $4.52B | 22.2% | -8% | 0 |
| AMDAdvanced Micro Devices | $34.62B | 37.8% | 9.9% | 4 |
| CRMSalesforce | $41.46B | 13.3% | 21.2% | 0 |
NVDA's 40.8% revenue growth and 1,278.8% operating margin should be read against peers using the same reporting definitions. A higher margin may reflect pricing power or business mix, while a lower margin can reflect investment, cyclicality, or weaker economics.
Fund ownership
ETF exposure
NVDA appears among the disclosed top holdings of 10 tracked ETFs shown below. ETF weights change with price movement, rebalancing, creations, redemptions, and issuer methodology.
| ETF | NVDA weight | AUM | Holdings date |
|---|---|---|---|
| VOOVanguard S&P 500 ETF | 7.84% | $960.58B | Apr 30, 2026 |
| IVViShares Core S&P 500 ETF | 8.49% | $823.49B | May 19, 2026 |
| SPYState Street SPDR S&P 500 ETF | 8.51% | $761.47B | May 18, 2026 |
| VTIVanguard Total Stock Market ETF | 6.64% | $640.84B | Apr 30, 2026 |
| QQQInvesco QQQ Trust Series I | 9.08% | $466.45B | May 15, 2026 |
| VUGVanguard Growth ETF | 13.33% | $224.72B | Apr 30, 2026 |
| IWFiShares Russell 1000 Growth ETF | 14.16% | $128.66B | May 19, 2026 |
| VGTVanguard Information Technology ETF | 18.60% | $136.23B | Apr 30, 2026 |
| SPYMState Street SPDR Portfolio S&P 500 ETF | 8.03% | N/A | Apr 15, 2026 |
| XLKState Street Technology Select Sector SPDR ETF | 15.07% | $113.90B | May 18, 2026 |
10-K · 2022-03-18
Key risk factors disclosed in the latest 10-K
The categories below are a deterministic research checklist anchored to Nvidia's industry and latest annual filing. They summarize areas investors should locate in Item 1A; they do not replace the company's exact legal disclosure.
- Demand and product-cycle risk: Semiconductors can experience changing customer demand, replacement cycles, and competitive product launches that affect revenue timing.
- Competition and execution: Market share depends on product quality, pricing, distribution, innovation, and management's ability to convert investment into durable customer demand.
- Supply chain and counterparties: Supplier concentration, logistics disruption, component availability, and customer concentration can affect delivery schedules, costs, and working capital.
- Regulation and litigation: Antitrust, privacy, securities, labor, tax, environmental, and industry-specific rules may change costs or restrict products and business practices.
- Financial and market risk: Foreign exchange, interest rates, credit conditions, investment values, and capital-allocation decisions can affect reported earnings and valuation.
Shareholder returns
Dividend and buyback history
Dividend
Nvidia reported $975M of dividends paid over the trailing period and $98M in the latest standardized quarter. These are company cash outflows, not a per-share forward yield.
Share buybacks
The standardized snapshot does not currently expose a reliable repurchase authorization and share-count bridge for every issuer. Compare diluted shares outstanding across filings and read the capital-return note before concluding that buybacks reduced the share base.
Research workflow
Common research questions about NVDA
Who is the largest tracked institutional holder of NVDA?
Tiger Global Management is the largest active holder in SnowballHare's current sample, with $2.1B reported. See every named manager on the NVDA ownership page.
What does recent insider activity show for NVDA?
No recent Form 4 transaction appears in the current NVDA window. Check the NVDA Form 4 history for later company-officer or director filings.
What business does Nvidia operate?
NVIDIA designs GPUs, accelerated computing platforms, networking products, and AI infrastructure software used in data centers, gaming, professional visualization, and automotive systems. The NVDA company snapshot connects that business description with reported revenue, profit, and cash flow.
How does NVDA compare with a close operating peer?
NVDA's revenue growth is 40.8% and its operating margin is 1278.8%. Compare those figures with PANW research using the same definitions.
What do the latest financials say about NVDA?
10-K reports $10.9B of trailing revenue, with revenue growth of 40.8% and an operating margin of 1278.8%. The supporting period and source are listed in the NVDA filing section.
How strong is NVDA's cash return profile?
Nvidia reported $975.0M of trailing dividends paid alongside $120.0B of free cash flow. The NVDA capital-return section separates company cash outflows from a forward per-share yield.
Which assumptions matter most for the NVDA outlook?
The NVDA range depends on revenue growth, operating margin, cash conversion, and the risk assumptions in each new filing. Recheck them in the NVDA forecast section.
Primary and reference data
Sources and methodology
- Filings: SEC EDGAR CompanyFacts, 10-K, 10-Q, 8-K, Form 4, 13F-HR.
- Fundamentals: SEC EDGAR CompanyFacts; market references may use yfinance and Finnhub where explicitly available.
- ETF: Issuer disclosures and the locally dated ETF holdings snapshot.
Methodology: How SnowballHare parses and validates data.
Editorial standards: How research is published.
Disclaimer: Informational only; not investment, legal, or tax advice. Cross-check material facts against original filings before acting.
Reference notes
Data notes
Reporting dates
Use filing dates, report periods, and source links together for NVDA. A company filing, a 13F disclosure, a Form 4 transaction, and an earnings release can describe different time windows, so the date beside each row matters before comparing signals.
Ownership context
13F rows are delayed public long-equity snapshots from a selected manager universe. They are useful for seeing which tracked institutions reported exposure, but they do not show every hedge, short position, cash balance, or trade made after the quarter ended.
Insider transactions
Form 4 activity should be read by transaction type, role, value, and remaining ownership. Open-market purchases and sales are different from grants, option exercises, gifts, or tax withholding, and the original SEC filing is still the controlling document.
Earnings and forecasts
Earnings pages and forecast pages are linked when a supported article exists. Treat those pages as context for reported numbers, guidance, margins, and scenario assumptions, then return to the table data when you need the underlying source date or filing trail.