Nvidia has been an ideal long-term investment. Shares soared 45,900% over the last 20 years as the company transitioned from computer graphics trailblazer to accelerated computing powerhouse. But the stock has been especially hot lately. Shares more than tripled during the past 12 months as investors leaned into the artificial intelligence gold rush. But those gains have given rise to concerns about Nvidia's valuation.

Specifically, while certain Wall Street analysts still see upside, some expect shares to decline over the next year. The four hedge fund billionaires listed below navigated that situation by selling some Nvidia stock in the fourth quarter, while simultaneously purchasing shares of the Invesco QQQ Trust (NASDAQ: QQQ), an index fund that tracks the Nasdaq-100.

What makes those trades interesting is that Nvidia is the third-largest position in the Invesco QQQ Trust. In other words, the four fund managers listed above exchanged a portion of their direct ownership in Nvidia for a more diluted form of ownership, which also provides exposure to other technology stocks.

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Source Fool.com