Appaloosa takes new stakes in Oracle and GM, raises stakes in Alibaba and Microsoft
By Claudia Assis
David Tepper's fund sells off Arista Networks stake
David Tepper's Appaloosa hedge fund took new stakes in Oracle Corp. and General Motors Co., to name a few, and increased its holdings in Alibaba Group and Microsoft Corp., among other moves, according to a filing with the Securities and Exchange Commission late Wednesday.
Appaloosa increased its stake in Alibaba (BABA) by about 20%, ending the December quarter with 4.35 million shares, and increased its Microsoft (MSFT) holdings by about 4%, with 1.7 million shares. It also slightly increased its Amazon.com Inc. (AMZN) holdings, as it did in November.
Microsoft last month easily beat Wall Street expectations for its fourth quarter, calling out momentum in its cloud business and with artificial intelligence.
Tepper's hedge fund also took a new position in United Parcel Service Inc. (UPS), among other moves. It sold off its stake in Arista Networks Inc. (ANET), which reported earnings earlier this week and was faulted for not coming out with a better quarter.
-Claudia Assis
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02-14-24 1703ET
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