Appaloosa Management trimmed its stake in Nvidia (NVDA) and Advanced Micro Devices (AMD) while piling up shares in American Airlines Group (AAL), among its fourth-quarter moves.
The American hedge fund, founded by David Tepper and Jack Walton, disclosed the information in its latest 13F filing, published on Tuesday.
Appaloosa increased its shares to 14.15M shares from 9.25M in American Airlines. The firm also increased its stake in tech giants including Microsoft (MSFT), Meta Platforms (META), and Alphabet (GOOG), among others.
Meanwhile, the hedge fund decreased its stake in Nvidia from 1.9M shares to 1.7M shares, in Whirlpool (WHR) from 5.5M shares to 3.91M shares, and in Chinese tech giant Alibaba (BABA) from 6.45M shares to 5.14M shares, respectively. It has also reduced stakes in ride-sharing firms Uber (UBER) and Lyft (LYFT) and in other Chinese firms such as Baidu (BIDU) and JD.com (JD).
Appaloosa also decreased stakes in companies including Amazon (AMZN) from 2.5M shares to 2.18M shares and in Advanced Micro Devices (AMD) from 0.33M shares to 0.95M shares, as per the filing.
Lastly, Appaloosa took a new stake in Ball (1.2M shares) while exiting its position in Fiserv (FISV), Caesars Entertainment (CZR), Western Alliance Bancorp (WAL), and KeyCorp (KEY), among other moves.