In the second quarter, both Appaloosa and Soros Fund purchased much more Nvidia Corp.
According to reports made public on Thursday, Soros Fund Management and Appaloosa Management both purchased much more Nvidia Corp. stock during the second quarter, as the chipmaker holds a central position in the artificial intelligence boom.
During that time, both companies also purchased further shares of the troubled health insurance behemoth UnitedHealth Group (UNH). After-hours, the company’s shares surged by about 11%, yet they were down 46.3% for the year.
Combining puts and calls, Soros Fund Management purchased 932,539 shares of Nvidia (NVDA). With the acquisition, the fund’s overall holdings increased by more than 1,600% to 990,292 shares.
In contrast, Appaloosa purchased 1.45 million Nvidia shares, increasing the fund’s total holdings to 1.75 million shares, a 483.33% rise.
Despite a slight 0.1% decline Thursday after business hours, Nvidia’s stock has up 35.5% so far this year.
Appaloosa acquired around 2.28 million shares of UnitedHealth, increasing the fund’s equity holdings by 1,300%. As a result, Appaloosa now owned 2.45 million shares overall. During the quarter, Soros purchased 28,900 additional UnitedHealth shares.
In addition, Soros purchased fresh shares of two more “Magnificent Seven” companies: Tesla Inc. (TSLA) and Microsoft Corp. (MSFT). Additionally, it increased its ownership of Nike Inc. (NKE).
