Billionaire Hedge Funds Shift from Palantir to Circle Internet Stock Amid Market Volatility
Two prominent hedge funds, Millennium Management and D.E. Shaw & Co., executed synchronized trades in Q3 2025, offloading significant positions in Palantir Technologies while accumulating shares of Circle Internet Group. The moves coincide with Circle's stock retracing to its IPO price of $69—a 77% plunge from its summer peak of $299—despite posting robust Q3 earnings of $740 million revenue and $214 million net income.
Wall Street analysts remain bullish on Circle, assigning price targets between $243-$280 per share—a potential 305% upside. The stock's decline attracted opportunistic buyers, including Cathie Wood's Ark Invest, which purchased $3.1 million worth of shares this week. Notably, short-seller Michael Burry reinforced the bearish sentiment around Palantir by establishing a substantial short position.
