The Appaloosa Management hedge fund, run by Carolina Panthers owner David Tepper, on Thursday revealed several new stock positions in the third quarter, and multiple transactions on the semiconductor sector.
Here's a look at the new positions as of Sept. 30 and the top changes made in the third quarter.
New Positions
In the third quarter, Appaloosa took new stakes in several companies. Here are the new stock positions listed below:
- Advanced Micro Devices (NASDAQ:AMD)
- Fiserv Inc (NASDAQ:FISV)
- American Airlines Group (NASDAQ:AAL)
- Truist Financial Corp (NYSE:TFC)
- KeyCorp (NYSE:KEY)
- Citizens Financial Group (NYSE:CFG)
- Comerica Inc (NYSE:CMA)
- Owens-Corning Inc (NYSE:OC)
- Western Alliance Bancorporation (NYSE:WAC)
- Zions Bancorporation (NASDAQ:ZION)
Based on the new filings, Advanced Micro Devices becomes one of the fund's top holdings. The fund also bet on another airline company for a second straight quarter and took new stakes in multiple regional banks.
Read Also: Forget Nvidia—Tepper Just Banked $57 Million On This Under-The-Radar AI Play
Exited Positions
In the third quarter, Appaloosa exited its positions in three companies.
Here were the positions that were completed exited by Appaloosa in the third quarter, as reported by 13finfo:
Intel was a relatively short trade for Tepper, with the fund taking a stake in the second quarter and cashing out in the third quarter.
Changes to Positions
Along with the new positions disclosed in the new 13F filing, Appaloosa revealed changes to existing stock positions.
Here were the stocks with the largest increases in the third quarter, ranked by the percentage change in shares:
- Whirlpool Corp (NYSE:WHR): +1,967%
- Goodyear Tire & Rubber (NASDAQ:GT): +496%
- Qualcomm Inc (NASDAQ:QCOM): +256%
- Mohawk Industries (NYSE:MHK): +149
- Kraneshares Trust China Internet ETF (NYSE:KWEB): +85%
- Baidu Inc (NASDAQ:BIDU): +67%
- iShares China Large Cap ETF (NYSE:FXI): +11%
- NVIDIA Corporation (NASDAQ:NVDA): +9%
- Taiwan Semiconductor Manufacturing (NYSE:TSM): +3%
Whirlpool had the largest percentage increase, which adds to the new position Tepper took in the second quarter.
Here were the stocks with the largest decreases in the second quarter, ranked by the percentage change in shares:
- UnitedHealth Group (NYSE:UNH): -92%
- Block Inc (NYSE:XYZ): -42%
- Micron Technology (NASDAQ:MU): -39%
- Vistra Corp (NYSE:VST): -31%
- Lyft Inc (NASDAQ:LYFT): -30%
- United Airlines (NASDAQ:UAL): -16%
- Delta Air Lines (NYSE:DAL): -14%
- L3Harris Technologies (NYSE:LHX): -14%
- RTX Corporation (NYSE:RTX): -13%
- Uber Technologies (NYSE:UBER): -12%
- JD.com Inc (NASDAQ:JD): -11%
- PDD Holdings (NASDAQ:PDD): -10%
- Alibaba Group Holdings (NYSE:BABA) -9%
The fund sold off several stocks it had only recently added or increased during the second quarter.
This marked another quarterly cut to the position in Alibaba, but the Chinese company remained the biggest position in the fund at 16%.
Here are the top holdings in the fund overall:
- Alibaba: 16%
- Amazon.com Inc (NASDAQ:AMZN): 7.4%
- Whirlpool: 5.9%
- Nvidia: 4.8%
- Alphabet Inc (NASDAQ:GOOG): 4.6%
- China Internet ETF: 4.2%
- NRG Energy (NYSE:NRG): 4.1%
- Taiwan Semiconductor Manufacturing: 4.0%
- Meta Platforms (NASDAQ:META): 3.7%
- Vistra: 3.3%
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Image created using artificial intelligence via Midjourney.
