[ad_1]
David Tepper’s Appaloosa bought into several old-economy, industrial and financial stocks in the third quarter and shook up his technology exposure, regulatory fillings show. Tepper opened stakes in a host of regional banks and increased his positions in stocks such as Goodyear Tire & Rubber and Whirlpool , regulatory fillings show. At the same time, he reduced his holdings in several megacap tech stocks and zeroed out positions in Oracle and Intel . The Carolina Panthers football team owner widened his stakes in Goodyear and Whirlpool by about 500% and 2,000%, respectively. Whirlpool went to a 5.5-million share holding 266,000 shares and became Appaloosa’s third-largest holding as of the end of the quarter, according to InsiderScore. The purchases came as each stock dropped more than 20% in the quarter. WHR GT YTD mountain Whirlpool and Goodyear, year to date Tepper also built positions in Citizens Financial , Comerica , Western Alliance and Zions Bancorp in the three months ended Sept. 30. After the quarter end, regional banks were knocked by concerns around sour loans , but the group had a solid third quarter, with the SPDR S & P Regional Banking ETF (KRE) rising more than 6%. Tepper also opened a stake in American Airlines in the third quarter. with the Pittsburgh native rotating away from positions in Delta Air Lines and United Airlines in the same period. Tepper also shifted his exposure within the tech sector as the group rallied in the quarter, when the tech-heavy Nasdaq Composite jumped more than 11%. The Carnegie Mellon board member created a stake worth more than $100 million in Advanced Micro Devices , while growing his Qualcomm position by more than 250%. In addition to closing out the Intel and Oracle holdings after big gains, Tepper also pulled back on Micron Technology and Uber Technologies . INTC ORCL YTD mountain Intel and Oracle in 2025 Within the Magnificent Seven , Tepper whittled down his stakes in Alphabet , Amazon , Meta and Microsoft , but added more than 8% to his Nvidia position, bringing its value above $350 million.
[ad_2]
Source link
