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Appaloosa Management is an American hedge fund founded in 1993 by David Tepper and Jack Walton specializing in distressed debt. [4] Appaloosa Management invests in public equity and fixed income markets around the world.
- Overview
- Appaloosa Sours On Apple, Loads Up On Other Tech Stocks
- Rejigging Exposure To China
- Other Notable Position Changes
David Tepper's Appaloosa exited position in Apple in the third quarter while increasing bets on other tech companies.
Appaloosa poured increased holdings of Meta, Amazon, Alphabet and Microsoft in its portfolio.
Reworked China exposure by exiting ETF positions, cutting back on Alibaba, Baidu and JD.com but taking a new position in a housing transactions company.
Tepper's fund also sold off shares in Marvell and Broadcom while trimming stakes in Intel, AMD and Taiwan Semiconductor Manufacturing.
David Tepper's hedge fund Appaloosa Management left positions in Apple (
) and China-focused ETFs in the third quarter while raising its bets on other tech giants, according to a recently filed 13-F report.
Tepper's firm closed out its position in Apple in the third quarter, selling about 480,000 shares. But tech's still a favorite in its portfolio as it added roughly 587,000 shares of Amazon (
), 450,000 shares of Meta (
), 440,000 shares of Alphabet Class C shares (
) and 400,000 shares of Microsoft (
Tepper's firm made big cuts to its holdings in several tech-focused Chinese companies. Most notably, the hedge fund sold off about 875,000 shares of Alibaba (
) worth about $60 million and more than 600,000 shares of Baidu (
) worth roughly $85 million. Tepper also got out of two positions in China-focused ETFs provided by iShares and Kraneshares.
The only significant new position reported in Appaloosa's 13-F for the most recent quarter was a stake of 2.4 million shares of KE Holdings (
Outside of tech, the firm almost doubled its position in Chinese agricultural retail business PDD Holdings (
) with about 650,000 additional shares and added close to 300,000 shares of Caesars Entertainment (
Appaloosa exited several positions, in some cases selling off tens of millions of dollars worth of stock. It sold off 1.75 million shares of semiconductor maker Marvell Technology (
) worth more than $100 million. It also closed out positions in Synopsis (
) and Cadence Design Systems (
Appaloosa sold 775,000 shares of Taiwan Semiconductor Manufacturing (
Apr 24, 2024 · A new lawsuit by U.S. hedge fund Appaloosa LP accuses the former Credit Suisse of misleading investors about its health before $17 billion of its bonds were written down to zero in a...
Aug 15, 2023 · David Tepper's hedge fund made sweeping purchases across the tech and semiconductor sectors, with a particular focus on companies based in China.
- Danny Vena
- Meta Platforms. Meta Platforms continues to be Tepper's top holding, largely unchanged since the prior quarter. The company's history of using AI to surface relevant content for users on its social media sites is well documented.
- Microsoft. Recognizing the vast opportunity ahead, Microsoft was quick off the blocks to integrate generative AI capabilities into its widely used workplace productivity tools and cloud infrastructure platform.
- Amazon. Amazon has a trifecta of successful businesses, including its industry-leading e-commerce and cloud infrastructure operations, as well as the company's No. 3 digital advertising platform.
- Nvidia. Nvidia is arguably the poster child for the AI revolution, as its graphics processing units (GPUs) are the gold standard not only for gaming, but also for data centers, speeding information through the ether.
Feb 8, 2023 · David Tepper is regarded as a prominent investor and hedge fund manager. In 1993, Tepper co-founded Appaloosa Management L.P. With a net worth exceeding $16.7 billion, David Tepper is...
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5 days ago · The billionaire hedge fund legend is reportedly thinking about converting his Appaloosa LP into a family office.
