The SEC’s 13F filing for David Tepper’s Appaloosa Management shows that the hedge fund bought five new stocks in the third quarter and added to 23 others. The fund reduced its holdings in nine stocks and sold completely out of one.
Additions and Increases:
At this year's Sohn Investment Conference, Dan Sundheim, the founder and CIO of D1 Capital Partners, spoke with John Collison, the co-founder of Stripe. Q1 2021 hedge fund letters, conferences and more D1 manages $20 billion. Of this, $10 billion is invested in fast-growing private businesses such as Stripe. Stripe is currently valued at around Read More
Appaloosa Management bought heavily in the financial services sector, snapping up shares of American International Group, Inc. (NYSE:AIG), JPMorgan Chase & Co. (NYSE:JPM) and Morgan Stanley (NYSE:MS). The firm also increased its position in Citigroup Inc. (NYSE:C) and Hartford Financial Services Group Inc (NYSE:HIG).
Tepper also made some changes in his automotive stocks, adding to Ford Motor Company (NYSE:F), The Goodyear Tire & Rubber Company (NYSE:GT) and General Motors Company (NYSE:GM). He also added to two airline stocks; Delta Air Lines, Inc. (NYSE:DAL) and United Continental Holdings Inc (NYSE:UAL).
Reductions and Sell-Offs:
The only stock Tepper sold off completely was Nuance Communications Inc. (NASDAQ:NUAN). He reduced his holding in several stocks, including Google Inc (NASDAQ:GOOG), Dean Foods Company (NYSE:DF), Bank of America Corp (NYSE:BAC) and Valero Energy Corporation (NYSE:VLO)