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Karthik Sarma of SRS Investment Management has shifted $334 million from Nvidia to Tapestry, a luxury goods company. The move comes as Tapestry’s stock surged over 100% in the past year.
- SRS Investment Management sold all its Nvidia shares and invested $334 million in Tapestry, acquiring 4.74 million shares.
- Tapestry's stock has surged over 100% in the past year, driven by strong performance of its luxury brands like Coach and Kate Spade.
- The investment represents 4.5% of SRS's portfolio, making Tapestry its fourth-largest holding after PDD Holdings, Planet Fitness, and Meta Platforms.
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