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 |
Alibaba
BABA
|
+$456M |
| 2 |
ETP
Energy Transfer Partners, L.P.
ETP
|
+$331M |
| 3 |
AABA
Altaba Inc
AABA
|
+$279M |
| 4 |
Invesco QQQ Trust
QQQ
|
+$250M |
| 5 |
Micron Technology
MU
|
+$182M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ETP
Energy Transfer Partners L.p.
ETP
|
+$437M |
| 2 |
Southwest Airlines
LUV
|
+$144M |
| 3 |
Regions Financial
RF
|
+$128M |
| 4 |
General Motors
GM
|
+$111M |
| 5 |
Pfizer
PFE
|
+$103M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 15.02% |
| 2 | Healthcare | 14.51% |
| 3 | Communication Services | 14.14% |
| 4 | Consumer Discretionary | 12.59% |
| 5 | Financials | 9.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AGN
1
DELISTED
Allergan plc
AGN
| $610M | 9.05% |
2,509,619
-427,502
| -15% | -$100M |
|
2
Alphabet (Google) Class C
GOOG
$4.19T
| $532M | 7.88% |
11,700,000
+2,200,000
| +23% | +$101M |
|
|
3
Alibaba
BABA
$306B
| $520M | 7.72% |
+3,693,918
| New | +$456M |
|
|
4
Micron Technology
MU
$981B
| $385M | 5.71% |
12,900,000
+6,210,000
| +93% | +$182M |
|
|
WPZ
5
DELISTED
Williams Partners L.P.
WPZ
| $368M | 5.46% |
9,182,449
-784,053
| -8% | -$31.4M |
|
6
Meta Platforms (Facebook)
META
$1.53T
| $356M | 5.28% |
2,356,218
+448,868
| +24% | +$66.7M |
|
|
ETP
7
DELISTED
Energy Transfer Partners, L.P.
ETP
| $303M | 4.49% |
+14,841,247
| New | +$331M |
|
|
AABA
8
DELISTED
Altaba Inc
AABA
| $279M | 4.14% |
+5,129,051
| New | +$279M |
|
|
9
Invesco QQQ Trust
QQQ
$478B
| $250M | 3.71% |
+1,815,500
| New | +$250M |
|
10
Western Digital
WDC
$151B
| $228M | 3.38% |
3,400,110
+1,680,210
| +98% | +$112M |
|
11
PNC Financial Services
PNC
$101B
| $223M | 3.3% |
1,782,033
-168,940
| -9% | -$20.4M |
|
12
Bank of America
BAC
$448B
| $213M | 3.16% |
8,782,641
| – | – |
|
13
Owens Corning
OC
$12.6B
| $167M | 2.48% |
2,498,972
-111,514
| -4% | -$6.99M |
|
14
Allstate
ALL
$66.3B
| $150M | 2.23% |
1,700,300
-155,903
| -8% | -$13.2M |
|
15
Huntsman Corp
HUN
$1.83B
| $138M | 2.05% |
5,359,579
-205,781
| -4% | -$5.1M |
|
16
United Rentals
URI
$71.2B
| $130M | 1.93% |
1,154,763
+451,646
| +64% | +$50.4M |
|
17
Mohawk Industries
MHK
$9.26B
| $112M | 1.66% |
463,719
-99,877
| -18% | -$23.6M |
|
|
TERP
18
DELISTED
TerraForm Power, Inc
TERP
| $105M | 1.55% |
8,708,708
| – | – |
|
|
AY
19
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| $100M | 1.49% |
4,700,000
-489,866
| -9% | -$10.1M |
|
20
Apple
AAPL
$4.45T
| $90M | 1.34% |
2,500,000
+1,300,000
| +108% | +$48.1M |
|
21
UnitedHealth
UNH
$365B
| $86.6M | 1.28% |
467,000
+167,000
| +56% | +$29.3M |
|
22
Centene
CNC
$32.1B
| $77M | 1.14% |
1,928,794
-420,400
| -18% | -$15.9M |
|
23
Kinder Morgan
KMI
$70.1B
| $75.5M | 1.12% |
3,942,996
-1,325,000
| -25% | -$26.3M |
|
24
Whirlpool
WHR
$2.84B
| $74.8M | 1.11% |
390,318
-91,620
| -19% | -$16.8M |
|
25
iShares Biotechnology ETF
IBB
$9.81B
| $72.9M | 1.08% |
+705,000
| New | +$69.4M |
|
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David Tepper's Q2 2017 Portfolio in Review
As of Q2 2017, David Tepper held 77 positions worth $6.74B, up 11% from $6.09B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
David Tepper deployed $442M of net new capital in Q2 2017, opening 24 new positions and adding to 11 existing holdings. Its largest new stake was Alibaba: 3,693,918 shares worth $520M.
By sector, the portfolio is most concentrated in Technology at 15% of assets, up from 6.4% a quarter earlier, followed by Healthcare and Communication Services.
On the sell side, the largest reduction was Southwest Airlines, an estimated $144M trimmed.
- David Tepper's largest Q2 2017 buy was Alibaba: 3,693,918 shares worth $520M.
- David Tepper added most to Micron Technology in Q2 2017, an estimated $182M increase.
- David Tepper's biggest Q2 2017 reduction was Southwest Airlines, cutting an estimated $144M.
- David Tepper fully exited Energy Transfer Partners L.p. in Q2 2017, selling an estimated $437M.
- David Tepper's ten largest holdings make up 57% of its $6.74B portfolio in Q2 2017.
- David Tepper opened 24 new positions and closed 19 in Q2 2017.
- David Tepper's portfolio value rose 11% quarter-over-quarter to $6.74B.
Based on Appaloosa LP's 13F filing for Q2 2017, filed 14 Aug 2017.