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 |
Invesco QQQ Trust
QQQ
|
+$667M |
| 2 |
Apple
AAPL
|
+$539M |
| 3 |
Micron Technology
MU
|
+$450M |
| 4 |
iShares MSCI Emerging Markets ETF
EEM
|
+$421M |
| 5 |
Meta Platforms (Facebook)
META
|
+$394M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$216M |
| 2 |
Western Digital
WDC
|
+$168M |
| 3 |
WPZ
Williams Partners L.P.
WPZ
|
+$140M |
| 4 |
PNC Financial Services
PNC
|
+$124M |
| 5 |
Owens Corning
OC
|
+$96.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.98% |
| 2 | Miscellaneous | 18.49% |
| 3 | Communication Services | 15.58% |
| 4 | Healthcare | 10.31% |
| 5 | Consumer Discretionary | 8.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Micron Technology
MU
$994B
| $1.13B | 10.54% |
27,500,000
+10,446,001
| +61% | +$450M |
2016 Q4
4 quarters
|
|
|
2
Meta Platforms (Facebook)
META
$1.81T
| $976M | 9.09% |
5,529,441
+2,229,441
| +68% | +$394M |
2016 Q3
5 quarters
|
|
|
3
Invesco QQQ Trust
QQQ
$475B
| $903M | 8.42% |
5,800,000
+4,370,000
| +306% | +$667M |
2017 Q2
2 quarters
|
|
|
4
Apple
AAPL
$5.01T
| $776M | 7.23% |
18,351,408
+12,907,408
| +237% | +$539M |
2016 Q3
5 quarters
|
|
5
Alibaba
BABA
$271B
| $745M | 6.94% |
4,320,234
+757,734
| +21% | +$136M |
2017 Q2
2 quarters
|
|
|
AABA
6
DELISTED
Altaba Inc
AABA
| $619M | 5.77% |
8,865,000
+4,182,500
| +89% | +$291M |
2017 Q2
2 quarters
|
|
|
AGN
7
DELISTED
Allergan plc
AGN
| $567M | 5.28% |
3,465,862
+1,577,674
| +84% | +$283M |
2016 Q1
7 quarters
|
|
8
Bank of America
BAC
$358B
| $506M | 4.72% |
17,150,000
+10,820,596
| +171% | +$298M |
2017 Q1
3 quarters
|
|
|
9
iShares MSCI Emerging Markets ETF
EEM
$29.1B
| $429M | 3.99% |
+9,100,000
| New | +$421M |
2017 Q4
0 quarters
|
|
|
10
Alphabet (Google) Class C
GOOG
$4.12T
| $372M | 3.47% |
7,114,580
-4,245,420
| -37% | -$216M |
2016 Q1
7 quarters
|
|
11
State Street Financial Select Sector SPDR ETF
XLF
$51.6B
| $279M | 2.6% |
+10,000,000
| New | +$269M |
2017 Q4
0 quarters
|
|
12
NRG Energy
NRG
$21.8B
| $278M | 2.59% |
9,759,777
+1,318,584
| +16% | +$35.9M |
2017 Q2
2 quarters
|
|
13
T-Mobile US
TMUS
$171B
| $245M | 2.28% |
+3,857,224
| New | +$235M |
2017 Q4
0 quarters
|
|
14
Ally Financial
ALLY
$11.5B
| $234M | 2.18% |
8,036,523
+1,225,923
| +18% | +$32.5M |
2017 Q2
2 quarters
|
|
15
XPO
XPO
$21.9B
| $202M | 1.88% |
6,372,025
+6,186,077
| +3,327% | +$158M |
2017 Q3
1 quarter
|
|
|
ETP
16
DELISTED
Energy Transfer Partners, L.P.
ETP
| $147M | 1.37% |
8,180,094
-3,769,906
| -32% | -$65.1M |
2017 Q2
2 quarters
|
|
17
CALL
State Street Energy Select Sector SPDR ETF
XLE
$43.9B
| $145M | 1.35% |
+4,014,400
| New | +$138M |
2017 Q4
0 quarters
|
|
|
WPZ
18
DELISTED
Williams Partners L.P.
WPZ
| $144M | 1.34% |
3,716,117
-3,720,584
| -50% | -$140M |
2016 Q1
7 quarters
|
|
19
United Rentals
URI
$64.1B
| $131M | 1.22% |
761,478
-170,402
| -18% | -$25.9M |
2016 Q4
4 quarters
|
|
20
UnitedHealth
UNH
$360B
| $130M | 1.22% |
591,589
-77,411
| -12% | -$16.4M |
2017 Q1
3 quarters
|
|
21
Boston Scientific
BSX
$64.3B
| $119M | 1.1% |
4,782,683
+1,029,817
| +27% | +$28.4M |
2016 Q4
4 quarters
|
|
22
Thermo Fisher Scientific
TMO
$255B
| $109M | 1.01% |
572,000
-20,000
| -3% | -$3.83M |
2017 Q1
3 quarters
|
|
|
23
Owens Corning
OC
$8.92B
| $90.8M | 0.85% |
988,035
-1,142,318
| -54% | -$96.2M |
2016 Q1
7 quarters
|
|
24
Huntsman Corp
HUN
$1.5B
| $87.7M | 0.82% |
2,633,185
-2,502,559
| -49% | -$76.6M |
2016 Q1
7 quarters
|
|
25
Energy Transfer Partners
ET
$69.8B
| $87.4M | 0.81% |
5,060,815
+388,108
| +8% | +$6.61M |
2017 Q2
2 quarters
|
|
Similar funds
David Tepper's Q4 2017 Portfolio in Review
As of Q4 2017, David Tepper held 62 positions worth $10.7B, up 51% from $7.12B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
David Tepper deployed $3.15B of net new capital in Q4 2017, opening 13 new positions and adding to 17 existing holdings. Its largest new stake was iShares MSCI Emerging Markets ETF: 9,100,000 shares worth $429M.
By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 20% a quarter earlier, followed by Miscellaneous and Communication Services.
On the sell side, the largest reduction was Alphabet (Google) Class C, an estimated $216M trimmed.
- David Tepper's largest Q4 2017 buy was iShares MSCI Emerging Markets ETF: 9,100,000 shares worth $429M.
- David Tepper added most to Invesco QQQ Trust in Q4 2017, an estimated $667M increase.
- David Tepper's biggest Q4 2017 reduction was Alphabet (Google) Class C, cutting an estimated $216M.
- David Tepper fully exited PNC Financial Services in Q4 2017, selling an estimated $124M.
- David Tepper's ten largest holdings make up 65% of its $10.7B portfolio in Q4 2017.
- David Tepper opened 13 new positions and closed 12 in Q4 2017.
- David Tepper's portfolio value rose 51% quarter-over-quarter to $10.7B.
Based on Appaloosa LP's 13F filing for Q4 2017, filed 14 Feb 2018.