A $2.4 Billion Fund Dumps These 3 Stocks Gian Estrada Sat, November 14, 2026 at 4:34 AM EST 4 min read ALAB -5.59% NVDA -3.12% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Forest Avenue, a $2.41 billion firm, sold all its Astera Labs, NVIDIA and Bruker shares last quarter.
Bruker's sale is the easiest to back: it sits closest to its average target.
NVIDIA, at about 14x forward earnings, is the hardest sale to back.
Its Nov. 17 report, the first under Colette Kress, is the next test.
Forest Avenue Capital Management dumped three stocks last quarter. Its 13F for the quarter ended Sept. 30, filed Nov. 13, shows no shares of Astera Labs (ALAB:NASDAQ), NVIDIA (NVDA:NASDAQ) or Bruker (BRKR:NASDAQ) at quarter's end, after owning all three at June 30.
A 13F can't say when in the quarter a fund sold or what price it got, so the moves since June 30 aren't losses it necessarily dodged.
Forest Avenue held 149,320 Astera Labs shares worth $72 million at June 30, 3.0% of its 13F stocks. The stock has fallen 54% since, even as the business kept beating its own guidance.
Third-quarter revenue rose 154% to $584.9 million, with up to $750 million guided for the fourth. But Scorpio X, the switch line its growth story rests on, shipped to just two customers in the quarter. CFO Desmond Lynch said the first Scorpio X platforms "have completed much of their initial deployment ramps."
The consensus target climbed from $197 a year ago to $392 in August, and it's $344 now:
TIKR Tracks 100 Analysts on Astera Labs, NVIDIA and Bruker. How Many Say "Buy"?
See the full breakdown of Buy, Hold, and Sell ratings on Astera Labs, NVIDIA and Bruker, along with Wall Street's revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See the Analyst Ratings
NVIDIA was the smaller chip stake: 294,300 shares worth $59 million at June 30, 2.5% of its 13F stocks. The stock is down 19% since.
On Nov. 11, after a report that the board would oust him, NVIDIA's board accepted Jensen Huang's resignation and named CFO Colette Kress interim CEO. A string of firms downgraded the stock: Bernstein cut its target to $200 from $400, and Evercore ISI to $186 from $465.
The consensus target rose from $233 a year ago to $329 on Oct. 23, then slipped to $305:
At the Nov. 10 close, NVIDIA traded at about 14x forward earnings, under every quarter-end reading since 2014 and far below its 36x five-year average. That's cheap for a business whose revenue rose 106% last quarter to $96.2 billion.
Bruker held up. The fund owned 422,000 shares worth $25 million at June 30, 1.1% of its 13F stocks, and the stock is up 2% since.
Bruker's Nov. 4 release shows why. Non-GAAP operating margin rose to 16.3% from 12.3%, and non-GAAP EPS climbed 24.4% to $0.56, on revenue up just 0.7% organically. Bruker kept its 2026 EPS guide and said it expects "double-digit EPS growth in FY27."
The consensus target rose from $48 a year ago to $68, its one-year high:
That leaves Bruker much closer to its target than the other two, with the margin story priced in.
If I could buy back one, it'd be NVIDIA. It was already at about 14x forward earnings before Huang resigned, and nothing NVIDIA has reported says the business is broken.
Bruker's exit is easiest to defend. Astera hinges on Scorpio X reaching more than two customers.
The NVIDIA risk is a soft Nov. 17 report, with gross margin guided to 71% to 72% for the January quarter. Dan Niles of Niles Investment Management said on X the interim CEO "will probably want to set a low bar."
Forest Avenue walked away from all three, but Wall Street hasn't: 100 analysts cover Astera Labs, NVIDIA and Bruker between them. TIKR lets you forecast the future price of any of these stocks in less than a minute. Start from those analysts' consensus estimates, or enter your own assumptions, and see whether the fund sold too early. It's free to use.
