Boeing was a buy for Soros fund, but Tepper's Appaloosa just dumped it

Dow Jones11-15

MW Boeing was a buy for Soros fund, but Tepper's Appaloosa just dumped it

By Claudia Assis

Soros opens up new stakes in Ford, Carvana

Boeing Co.'s stock was a point of diversion for two prominent funds, ditched by one and picked up by the other in the quarter that ended Sept. 30, securities filings late Thursday showed.

David Tepper's Appaloosa LP sold off its Boeing $(BA)$ holdings, while Soros Fund Management LLC, the investment firm and family office linked to the billionaire philanthropist, placed a fresh bet on the aerospace and defense giant.

Boeing has been trying to right itself after a slew of production problems and just cleared two major roadblocks recently. It arrived at an agreement with striking factory workers and completed a capital raise that warded off danger it could see its debt ratings relegated to the riskiest trades.

Securities regulators require all institutional investment managers holding more than $100 million in certain securities to disclose their positions in 13-F filings, offering a window into a firm's stock and ETF holdings at the end of the quarter and into its possible strategies.

Besides Boeing, Appaloosa also sold off positions in Macy's Inc. $(M)$ and United Parcel Service Inc. $(UPS)$, while picking up new stakes in Vistra Corp. $(VST)$ and Las Vegas Sands Corp. $(LVS)$, to name a few.

The Soros fund added new positions on Crowdstrike Holdings Inc. $(CRWD)$ and Carvana Co. (CVNA), as well as bets on more traditional industries, including new stakes in Ford Motor Co. $(F)$ and 3M Co. $(MMM.AU)$, among others.

It shied away from some tech names, with selloffs including its stakes in Super Micro Computer Inc. $(SMCI)$, Taiwan Semiconductor Manufacturing Co. $(TSM)$ and Texas Instruments Inc. $(TXN)$.

-Claudia Assis

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November 14, 2024 17:13 ET (22:13 GMT)

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Boeing was a buy for Soros fund, but Tepper's Appaloosa just dumped it

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