From Nasdaq:

David Tepper’s Appaloosa Management made strategic moves in the fourth quarter of 2023, entering new positions, boosting select tech holdings, reducing exposure to semiconductor stocks, and making key exits. These decisions provide insight into Tepper’s outlook for the first quarter of 2024.

The hedge fund initiated substantial new positions in Oracle Corp. and the ARK Innovation ETF and diversified its portfolio by entering positions in the home improvement, construction, and building materials sectors. The fund also reduced its exposure to semiconductor stocks while boosting positions in other tech giants.

Appaloosa Management increased its position in Caesars Entertainment Inc. by adding 725,000 new shares to its portfolio and added midstream oil company MPLX LP and tech stalwarts like Alibaba, Amazon, and Microsoft. The fund also exited positions entirely in Arista Networks Inc and Enterprise Products Partners.

Appaloosa Management’s fourth-quarter portfolio changes reflect a nuanced approach to navigating market shifts. The fund’s entry into new sectors, adjustments in the tech landscape, and strategic exits demonstrate Tepper’s proactive stance. Investors will closely watch the fund’s moves for insights into Tepper’s outlook and tactical positioning.



Read more: David Tepper’s Appaloosa Management Q1 Portfolio Positioning: More Caesers Entertainment, Alibaba, Amazon, Microsoft; Less Semiconductor Stocks