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Billionaire David Tepper Exited His Firm's Stake in AMD and Bought This Other Monster Artificial Intelligence (AI) Chip Stock Instead
David Tepper's hedge fund, Appaloosa Management, just swapped AMD stock for a key supplier of AI infrastructure.
Investors are always looking for smart money managers to get ideas from. One investor I like to follow is David Tepper, the billionaire founder of Appaloosa Management. And, fortunately, I can get information on Appaloosa's trades following the end of each calendar quarter, when institutional investment firms managing over $100 million in stocks are required to file a form 13F with the Securities and Exchange Commission (SEC).
The 13F is a public record of which stocks portfolio management firms bought and sold during the most recent quarter. This can be a useful tool, as it helps investors get an idea of what opportunities the "smart money" on Wall Street may prefer.
Per Appaloosa's latest 13F, the firm has exited its position in Advanced Micro Devices and initiated a position in Broadcom (NASDAQ: AVGO).
