Megacap tech stocks and artificial-intelligence plays rallied in the second quarter. Many big hedge funds flocked to those bets.
Funds like Appaloosa, Third Point and Pershing Square opened new positions or increased their holdings in tech giants and semiconductor stocks during the second quarter, according to their latest 13F filings. The filings lay out investors' equity holdings as of the end of the most recent quarter, as well as the size and market value of their positions.
Take a look at some of the changes in their stock portfolios as of the end of June. Some figures are rounded.
David Tepper's Appaloosa
Increased Positions:
-- Amazon.com: +1.2 million shares (58% increase) -- $412.3 million stake -- Alphabet Class C: +200,000 shares (9.5% increase) -- $279.4 million stake -- Meta Platforms: +802,500 shares (115% increase) -- $431.2 million stake -- Microsoft: +980,000 shares (377% increase) -- $422.3 million stake -- Nvidia: +870,000 shares (580% increase) -- $431.5 million stake
New Positions:
-- Taiwan Semiconductor: +1.8 million shares -- $179.1 million stake -- Apple: +480,000 shares -- $93.1 million stake -- Advanced Micro Devices: +2.3 million shares -- $263.1 million stake -- Broadcom: +120,000 shares -- $104.1 million stake -- Intel: +6.8 million shares -- $226.6 million stake -- Micron Technology: +1.4 million shares -- $88.4 million stake -- Qualcomm: +1.9 million shares -- $220.2 million stake
Dan Loeb's Third Point
Increased Positions:
-- Advanced Micro Devices: +200,000 shares (20% increase) -- $135.7 million stake -- Micron Technology: +350,000 shares (29% increase) -- $97.6 million stake -- Microsoft: +470,000 shares (45% increase) -- $517.6 million stake
New Positions:
-- Nvidia: +500,000 shares -- $211.5 million stake -- Taiwan Semiconductor: +2.5 million shares -- $247.3 million stake -- Amazon.com: +4.1 million shares -- $534.5 million stake
Bill Ackman's Pershing Square
Increased Position:
-- Alphabet Class C: +1.3 million shares (16% increase) -- $1.13 billion stake
D1 Capital sold shares of some big tech companies, while adding a fresh bet on AMD.
Dan Sundheim's D1 Capital
Decreased Positions:
-- Alphabet Class A: -608,761 shares (21% decrease) -- $274 million stake -- Meta Platforms: -257,000 shares (25% decrease) -- $219.1 million stake -- Microsoft: -597,000 shares (38% decrease) -- $326.9 million stake
Exited Position:
-- Amazon.com: -2.8 million shares
New Position:
-- Advanced Micro Devices: +160,000 shares -- $18.2 million stake
