David Tepper Latest News and Portfolio Changes: Top 5 Stocks

In this piece, we will take a look at the latest news about David Tepper and the changes in his investment portfolio. If you want to learn more about the billionaire hedge fund boss then check out David Tepper Latest News and Portfolio Changes.

5. Baidu, Inc. (NASDAQ:BIDU)

Appaloosa Management’s Latest Investment: $174 million

Baidu, Inc. (NASDAQ:BIDU) is a Chinese internet company that offers a social media application and other consumer oriented software products. Its shares are rated Strong Buy on average, and Mr. Tepper’s hedge fund bought 1.2 million shares in Q2 2023 for a $174 million investment.

Along with Appaloosa, 36 hedge funds part of Insider Monkey’s database were Baidu, Inc. (NASDAQ:BIDU)’s investors as of Q2 2023. Out of these, the largest shareholder is John W. Rogers’ Ariel Investments as it owns 2.7 million shares that are worth $377 million.

4. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Appaloosa Management’s Latest Investment: $179 million

The Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the biggest contract chip manufacturing firm in the world. It is currently facing some pressure in Taiwan for its plans to build an advanced 1-nanometer chip making plant as the firm scrapped the plant in October 2023 after protests from locals.

During 2023’s June quarter, 121 out of the 910 hedge funds polled by Insider Monkey had held a stake in the chip maker. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s biggest hedge fund investor is Ken Fisher’s Fisher Asset Management courtesy of its $2.9 billion investment.

3. QUALCOMM Incorporated (NASDAQ:QCOM)

Appaloosa Management’s Latest Investment: $220 million

QUALCOMM Incorporated (NASDAQ:QCOM) is an American semiconductor designer that sells smartphone processors, modems, and other products. The firm teamed up with Google in October 2023 to develop new chips based on the RISC-V micro architecture for wearable devices such as watches.

By the end of this year’s second quarter, 73 among the 910 hedge funds tracked by Insider Monkey had bought and owned QUALCOMM Incorporated (NASDAQ:QCOM)’s shares. While Appaloosa Management owns a $220 million stake, the firm’s largest shareholder in our database is Israel Englander’s Millennium Management since it owns $270 million worth of shares.

2. Intel Corporation (NASDAQ:INTC)

Appaloosa Management’s Latest Investment: $226 million

Intel Corporation (NASDAQ:INTC) is one of the biggest chip making companies in the world. While Mr. Tepper’s hedge fund might have scooped up 6.7 million of the chip maker’s shares during this year’s second quarter, analysts have rated Intel Corporation (NASDAQ:INTC)’s shares as Hold on average as the firm is in the midst of a turnaround plan to streamline its product design and manufacturing operations.

As of June 2023, 71 out of the 910 hedge funds surveyed by Insider Monkey had held a stake in the firm. Intel Corporation (NASDAQ:INTC)’s biggest hedge fund investor is Israel Englander’s Millennium Management due to its $370 million stake.

1. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Appaloosa Management’s Latest Investment: $263 million

Advanced Micro Devices, Inc. (NASDAQ:AMD) is the seventh semiconductor firm on our list, showing that David Tepper has decided to go all in on the chip sector as valuations remain depressed due to an inventory glut and a troubling market environment. Analysts believe that the stock might be undervalued by as much as 30% based on the average share price target of $137.03.

112 out of the 910 hedge funds part of Insider Monkey’s database had invested in Advanced Micro Devices, Inc. (NASDAQ:AMD) during Q2 2023. Ken Fisher’s Fisher Asset Management owns the largest stake among these, which is worth $3 billion and comes through 26.9 million shares.

Disclosure: None. You can also take a look at 16 Best Growth Stocks To Buy According To Hedge Funds and 14 Best SaaS Stocks To Buy Now.

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