Some of Wall Street’s biggest investors made new bets on tech giants in the fourth quarter, increasing their stakes in Amazon, Alphabet (GOOG, GOOGL), Alibaba and Nvidia.
However, Warren Buffett’s Berkshire Hathaway did not. The group reduced its stakes in Apple and HP, while increasing its stakes in oil giants Chevron and Occidental Petroleum. There was at least one additional investment that Berkshire is keeping confidential for now.
Details about these new bets made in the fourth quarter were revealed in a series of filings with the Securities and Exchange Commission this week. Large institutional investors are required to make quarterly disclosures, showing what they bought and what they sold.
The latest batch showed that many were leaning towards tech names heading into late 2023.
A hedge fund run by Michael Burry, which shorted subprime mortgages during the 2008 financial crisis and became a central figure in Michael Lewis’s 2010 book “The Big Short”, bought 35,000 shares of Alphabet and 30,000 of Amazon. Add shares. That fund, Scion Capital, also increased its bets on Chinese e-commerce giants Alibaba and JD.com.
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Several hedge funds were also attracted to shares of major artificial intelligence chip maker Nvidia.
Bridgewater Associates, the world’s largest hedge fund firm, increased its stake in Nvidia by 458%, adding more than 220,000 shares.
He increased his position in Alphabet to more than 465,000 shares, making it the fund’s 12th-largest position at the end of December, and added a small stake in Apple.
Another hedge fund, AQR, increased its stake in Nvidia by 22%. But it reduced its stake in Apple and Microsoft, its two largest positions, by 5% and 4% respectively.
Berkshire sold just 1% of its Apple holdings, or 10 million shares, leaving it with a whopping 950 million shares.
Apple has had a tough start to 2024 as it faces a cut in its stock price, major changes to its App Store policies, and a potential lawsuit over anti-competitive practices that could greatly impact its business. These challenges piled up when launching the ambitious Vision Pro headset.
Another notable investor reduced its investment in Apple in the fourth quarter: Soros Fund.
The fund created by billionaire investor George Soros and now run by his son closed a short position and unloaded its underlying stake in the tech giant.
Some of these investors made some notable bets on the banking industry, particularly on one regional lender that is currently in the spotlight: New York Community Bank.
Soros funds, AQR and Millennium Management increased their investments in NYCB, surprising Wall Street on January 31 by cutting its dividend and reporting a quarterly net loss of $252 million.
It is not known what these funds did with their holdings between now and the end of the fourth quarter.
written article originally in english By David HollerithSenior reporter at Yahoo Finance.
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(Tags to translate)Michael Burry(T)Berkshire Hathaway(T)Jim Spellman(T)Nvidia(T)Apple
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