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 |
NRG Energy
NRG
|
+$170M |
| 2 |
Meta Platforms (Facebook)
META
|
+$157M |
| 3 |
Micron Technology
MU
|
+$131M |
| 4 |
Ally Financial
ALLY
|
+$128M |
| 5 |
Apple
AAPL
|
+$114M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AGN
Allergan plc
AGN
|
+$145M |
| 2 |
PNC Financial Services
PNC
|
+$110M |
| 3 |
iShares Biotechnology ETF
IBB
|
+$72.9M |
| 4 |
WPZ
Williams Partners L.P.
WPZ
|
+$69M |
| 5 |
General Motors
GM
|
+$60.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.03% |
| 2 | Communication Services | 16.31% |
| 3 | Healthcare | 13.25% |
| 4 | Consumer Discretionary | 10.84% |
| 5 | Energy | 9.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Micron Technology
MU
$994B
| $671M | 9.42% |
17,053,999
+4,153,999
| +32% | +$131M |
2016 Q4
3 quarters
|
|
2
Alibaba
BABA
$271B
| $615M | 8.64% |
3,562,500
-131,418
| -4% | -$21.3M |
2017 Q2
1 quarter
|
|
|
3
Meta Platforms (Facebook)
META
$1.81T
| $564M | 7.92% |
3,300,000
+943,782
| +40% | +$157M |
2016 Q3
4 quarters
|
|
4
Alphabet (Google) Class C
GOOG
$4.12T
| $545M | 7.65% |
11,360,000
-340,000
| -3% | -$15.8M |
2016 Q1
6 quarters
|
|
|
AGN
5
DELISTED
Allergan plc
AGN
| $387M | 5.44% |
1,888,188
-621,431
| -25% | -$145M |
2016 Q1
6 quarters
|
|
|
AABA
6
DELISTED
Altaba Inc
AABA
| $310M | 4.36% |
4,682,500
-446,551
| -9% | -$27.4M |
2017 Q2
1 quarter
|
|
|
WPZ
7
DELISTED
Williams Partners L.P.
WPZ
| $289M | 4.06% |
7,436,701
-1,745,748
| -19% | -$69M |
2016 Q1
6 quarters
|
|
8
Western Digital
WDC
$124B
| $222M | 3.13% |
3,406,908
+6,798
| +0.2% | +$451K |
2016 Q2
5 quarters
|
|
|
ETP
9
DELISTED
Energy Transfer Partners, L.P.
ETP
| $219M | 3.07% |
11,950,000
-2,891,247
| -19% | -$56.1M |
2017 Q2
1 quarter
|
|
|
10
NRG Energy
NRG
$21.8B
| $216M | 3.03% |
8,441,193
+7,191,193
| +575% | +$170M |
2017 Q2
1 quarter
|
|
|
11
Apple
AAPL
$5.01T
| $210M | 2.95% |
5,444,000
+2,944,000
| +118% | +$114M |
2016 Q3
4 quarters
|
|
12
CALL
State Street Financial Select Sector SPDR ETF
XLF
$51.6B
| $210M | 2.94% |
+8,104,100
| New | +$202M |
2017 Q3
0 quarters
|
|
13
Invesco QQQ Trust
QQQ
$475B
| $208M | 2.92% |
1,430,000
-385,500
| -21% | -$55.2M |
2017 Q2
1 quarter
|
|
|
14
Ally Financial
ALLY
$11.5B
| $165M | 2.32% |
6,810,600
+5,712,776
| +520% | +$128M |
2017 Q2
1 quarter
|
|
15
Owens Corning
OC
$8.92B
| $165M | 2.31% |
2,130,353
-368,619
| -15% | -$25.8M |
2016 Q1
6 quarters
|
|
16
Bank of America
BAC
$358B
| $160M | 2.25% |
6,329,404
-2,453,237
| -28% | -$59.5M |
2017 Q1
2 quarters
|
|
17
Huntsman Corp
HUN
$1.5B
| $141M | 1.98% |
5,135,744
-223,835
| -4% | -$5.96M |
2016 Q1
6 quarters
|
|
18
Allstate
ALL
$62.7B
| $135M | 1.9% |
1,468,871
-231,429
| -14% | -$21M |
2016 Q1
6 quarters
|
|
19
UnitedHealth
UNH
$360B
| $131M | 1.84% |
669,000
+202,000
| +43% | +$39M |
2017 Q1
2 quarters
|
|
20
United Rentals
URI
$64.1B
| $129M | 1.82% |
931,880
-222,883
| -19% | -$26.6M |
2016 Q4
3 quarters
|
|
|
21
PNC Financial Services
PNC
$86.7B
| $124M | 1.75% |
922,510
-859,523
| -48% | -$110M |
2016 Q3
4 quarters
|
|
|
TERP
22
DELISTED
TerraForm Power, Inc
TERP
| $113M | 1.59% |
8,552,482
-156,226
| -2% | -$2.04M |
2016 Q1
6 quarters
|
|
23
Thermo Fisher Scientific
TMO
$255B
| $112M | 1.57% |
592,000
+217,000
| +58% | +$39.3M |
2017 Q1
2 quarters
|
|
24
Boston Scientific
BSX
$64.3B
| $109M | 1.54% |
3,752,866
+1,487,966
| +66% | +$41.1M |
2016 Q4
3 quarters
|
|
25
Centene
CNC
$34.2B
| $105M | 1.48% |
2,172,328
+243,534
| +13% | +$10.5M |
2016 Q4
3 quarters
|
|
Similar funds
David Tepper's Q3 2017 Portfolio in Review
As of Q3 2017, David Tepper held 62 positions worth $7.12B, up 5.6% from $6.74B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
David Tepper withdrew a net $306M in Q3 2017, closing 14 positions and reducing 28 holdings. Its most notable exit was iShares Biotechnology ETF, an estimated $72.9M position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 15% a quarter earlier, followed by Communication Services and Healthcare.
Against the trend, David Tepper opened a new position in Peabody Energy Corporation Series A Convertible Preferred Stock worth $18.6M.
- David Tepper's largest Q3 2017 buy was Peabody Energy Corporation Series A Convertible Preferred Stock: 301,316 shares worth $18.6M.
- David Tepper added most to NRG Energy in Q3 2017, an estimated $170M increase.
- David Tepper's biggest Q3 2017 reduction was Allergan plc, cutting an estimated $145M.
- David Tepper fully exited iShares Biotechnology ETF in Q3 2017, selling an estimated $72.9M.
- David Tepper's ten largest holdings make up 57% of its $7.12B portfolio in Q3 2017.
- David Tepper opened 4 new positions and closed 14 in Q3 2017.
- David Tepper's portfolio value rose 5.6% quarter-over-quarter to $7.12B.
Based on Appaloosa LP's 13F filing for Q3 2017, filed 14 Nov 2017.