David Teppers Appaloosa Cut Major Nvidia Stake During The Second Quarter Trimmed Other Megacap Tech Positions

Hedge Fund Trades in Q2 2023: David Tepper, George Soros, and Stanley Druckenmiller

Summary

In the second quarter of 2023, prominent hedge fund managers made significant adjustments to their portfolios, including: * David Tepper's Appaloosa Management reduced its stake in Nvidia Corporation (NVDA). * George Soros' investment firm and Stanley Druckenmiller's family office exited their positions in Nvidia Corporation (NVDA) entirely. * David Tepper also trimmed his stake in Alibaba Group Holding Limited (BABA) by approximately 7%.

David Tepper's Appaloosa Management

Appaloosa Management, founded by David Tepper, made several notable trades during the second quarter, including: * **Reduced stake in Nvidia (NVDA):** Appaloosa Management filed a 13F form confirming a reduction in its Nvidia position. This move aligns with a broader trend among hedge funds trimming their exposure to megacap tech stocks. * **Adjusted Alibaba (BABA) holdings:** While Appaloosa Management generally maintains a bullish stance on Alibaba, it reduced its stake by approximately 7% during the second quarter. * **Closed position in Norfolk Southern (NSC):** Appaloosa Management closed out its equity position in Norfolk Southern during the quarter.

Trades by Other Hedge Funds

* **George Soros' Investment Firm:** Soros' investment firm completely exited its position in Nvidia Corporation (NVDA) during the second quarter. * **Druckenmiller's Family Office:** Similarly, Stanley Druckenmiller's family office fully exited its Nvidia Corporation (NVDA) position. * **Tepper's Q4 2022 Trades:** In the fourth quarter of 2022, David Tepper sold nearly 23% of his Appaloosa Management hedge fund's position in Meta Platforms (META).

Conclusion

The actions of prominent hedge fund managers like David Tepper, George Soros, and Stanley Druckenmiller provide insights into the investment landscape during the second quarter of 2023. These managers made strategic adjustments to their portfolios, reflecting their views on the market and individual companies. Investors should consider these moves as part of their own investment decision-making process while conducting thorough research and considering their individual risk tolerance and financial goals.