David Tepper Appaloosa LP
David Tepper, founder of Appaloosa Management, is a billionaire hedge fund manager renowned for his expertise in distressed debt investing and contrarian bets. He is known for high-risk, high-reward strategies that have generated significant returns, such as investing in struggling banks during the 2008 financial crisis. His investment philosophy emphasizes deep value analysis, understanding market psychology, and making high-conviction decisions, often going against prevailing sentiment.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PG&E
PCG
|
+$88.6M |
| 2 |
Alerian MLP ETF
AMLP
|
+$69.3M |
| 3 |
Allstate
ALL
|
+$54.6M |
| 4 |
Energy Transfer Partners
ET
|
+$50.9M |
| 5 |
Wells Fargo
WFC
|
+$15.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$758M |
| 2 |
Meta Platforms (Facebook)
META
|
+$272M |
| 3 |
Alibaba
BABA
|
+$247M |
| 4 |
Lam Research
LRCX
|
+$178M |
| 5 |
XPO
XPO
|
+$154M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.81% |
| 2 | Communication Services | 19.95% |
| 3 | Utilities | 15.75% |
| 4 | Healthcare | 10.68% |
| 5 | Energy | 6.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Boyd Gaming
BYD
$5.98B
| – | – |
-1,356,000
| Closed | -$45.9M |
|
27
Centene
CNC
$32.1B
| – | – |
-1,179,376
| Closed | -$85.4M |
|
28
Dollar General
DG
$26.5B
| – | – |
-746,130
| Closed | -$81.6M |
|
29
Huntsman Corp
HUN
$1.83B
| – | – |
-2,030,039
| Closed | -$55.3M |
|
|
30
Lam Research
LRCX
$390B
| – | – |
-11,750,000
| Closed | -$178M |
|
31
Owens Corning
OC
$12.6B
| – | – |
-1,073,813
| Closed | -$58.3M |
|
32
State Street
STT
$51.4B
| – | – |
-1,185,823
| Closed | -$99.3M |
|
33
Stryker
SYK
$134B
| – | – |
-92,000
| Closed | -$16.3M |
|
34
Thermo Fisher Scientific
TMO
$224B
| – | – |
-187,000
| Closed | -$45.6M |
|
35
Williams Companies
WMB
$88.4B
| – | – |
-1,044,422
| Closed | -$28.4M |
|
|
36
XPO
XPO
$23.8B
| – | – |
-3,903,000
| Closed | -$154M |
|
|
SUM
37
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
| – | – |
-3,030,080
| Closed | -$54.2M |
|
|
VNTR
38
DELISTED
Venator Materials PLC
VNTR
| – | – |
-1,378,979
| Closed | -$12.4M |
|
|
ETP
39
DELISTED
Energy Transfer Partners, L.P.
ETP
| – | – |
-3,827,431
| Closed | -$85.2M |
|
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David Tepper's Q4 2018 Portfolio in Review
As of Q4 2018, David Tepper held 40 positions worth $2.02B, down 64% from $5.69B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
David Tepper withdrew a net $2.82B in Q4 2018, closing 17 positions and reducing 16 holdings. Its most notable exit was Alibaba, an estimated $247M position sold in full.
By sector, the portfolio is most concentrated in Technology at 32% of assets, down from 36% a quarter earlier, followed by Communication Services and Utilities.
Against the trend, David Tepper opened a new position in Alerian MLP ETF worth $61.7M.
- David Tepper's largest Q4 2018 buy was Alerian MLP ETF: 1,413,374 shares worth $61.7M.
- David Tepper added most to PG&E in Q4 2018, an estimated $88.6M increase.
- David Tepper's biggest Q4 2018 reduction was Micron Technology, cutting an estimated $758M.
- David Tepper fully exited Alibaba in Q4 2018, selling an estimated $247M.
- David Tepper's ten largest holdings make up 80% of its $2.02B portfolio in Q4 2018.
- David Tepper opened 3 new positions and closed 17 in Q4 2018.
- David Tepper's portfolio value fell 64% quarter-over-quarter to $2.02B.
Based on Appaloosa LP's 13F filing for Q4 2018, filed 14 Feb 2019.