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David Tepper Appaloosa LP
AUM
$7.73B
Turnover
51.28%
1-Year Est. Return
104.51%
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.
This Fund
S&P 500
This Quarter Est. Return
+4.71%
1 Year Est. Return
+104.51%
3 Year Est. Return
+293.4%
5 Year Est. Return
+473.86%
10 Year Est. Return
+1,594.48%
AUM
$9.7B
AUM Growth
-$1.02B
(-9.5%)
Cap. Flow
-$1.13B
Cap. Flow % of AUM
Cap. Flow %
-11.63%
Top 10 Holdings %
Top 10 Hldgs %
64.64%
Holding
64
New
14
Increased
19
Reduced
18
Closed
11
Avg Time Held
Equity + Options
0.8
years
Top 10 Avg Time Held
Equity + Options
0.8
years
Top 20 Avg Time Held
Equity + Options
0.6
years
Avg Time Held Equity only
0.8
years
Top 10 Avg Time Held Equity only
0.8
years
Top 20 Avg Time Held Equity only
0.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$378M |
| 2 |
Lam Research
LRCX
|
+$257M |
| 3 |
Wells Fargo
WFC
|
+$175M |
| 4 |
UBS Group
UBS
|
+$132M |
| 5 |
Meta Platforms (Facebook)
META
|
+$122M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco QQQ Trust
QQQ
|
+$831M |
| 2 |
Apple
AAPL
|
+$776M |
| 3 |
iShares MSCI Emerging Markets ETF
EEM
|
+$429M |
| 4 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$279M |
| 5 |
Bank of America
BAC
|
+$194M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 29.56% |
| 2 | Communication Services | 17.13% |
| 3 | Healthcare | 12.58% |
| 4 | Consumer Discretionary | 11.03% |
| 5 | Financials | 9.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Micron Technology
MU
$1.03T
| $1.85B | 19% |
35,405,000
+7,905,000
| +29% | +$378M |
2016 Q4
5 quarters
|
|
|
2
Meta Platforms (Facebook)
META
$1.78T
| $992M | 10.21% |
6,210,000
+680,559
| +12% | +$122M |
2016 Q3
6 quarters
|
|
3
Alibaba
BABA
$260B
| $744M | 7.66% |
4,052,616
-267,618
| -6% | -$50.4M |
2017 Q2
3 quarters
|
|
|
AGN
4
DELISTED
Allergan plc
AGN
| $623M | 6.41% |
3,700,000
+234,138
| +7% | +$39.3M |
2016 Q1
8 quarters
|
|
|
AABA
5
DELISTED
Altaba Inc
AABA
| $594M | 6.11% |
8,021,000
-844,000
| -10% | -$63.6M |
2017 Q2
3 quarters
|
|
6
Alphabet (Google) Class C
GOOG
$4.05T
| $419M | 4.31% |
8,116,940
+1,002,360
| +14% | +$55.3M |
2016 Q1
8 quarters
|
|
|
7
Bank of America
BAC
$355B
| $329M | 3.39% |
10,965,513
-6,184,487
| -36% | -$194M |
2017 Q1
4 quarters
|
|
|
8
Lam Research
LRCX
$326B
| $263M | 2.71% |
+12,955,860
| New | +$257M |
2018 Q1
0 quarters
|
|
9
T-Mobile US
TMUS
$165B
| $253M | 2.61% |
4,150,000
+292,776
| +8% | +$18.3M |
2017 Q4
1 quarter
|
|
10
XPO
XPO
$22.1B
| $217M | 2.24% |
6,167,546
-204,479
| -3% | -$6.82M |
2017 Q3
2 quarters
|
|
11
Ally Financial
ALLY
$11.8B
| $216M | 2.22% |
7,948,145
-88,378
| -1% | -$2.53M |
2017 Q2
3 quarters
|
|
12
NRG Energy
NRG
$21B
| $206M | 2.12% |
6,734,603
-3,025,174
| -31% | -$83.8M |
2017 Q2
3 quarters
|
|
|
13
Wells Fargo
WFC
$247B
| $154M | 1.58% |
+2,937,615
| New | +$175M |
2018 Q1
0 quarters
|
|
14
UnitedHealth
UNH
$374B
| $151M | 1.56% |
706,589
+115,000
| +19% | +$26.3M |
2017 Q1
4 quarters
|
|
15
MGM Resorts International
MGM
$7.26B
| $143M | 1.47% |
4,069,504
+1,742,738
| +75% | +$61.2M |
2017 Q4
1 quarter
|
|
16
DELISTED
Caesars Entertainment Corporation
CZR
| $142M | 1.47% |
12,655,674
+6,795,325
| +116% | +$87.2M |
2017 Q4
1 quarter
|
|
17
Centene
CNC
$34.7B
| $131M | 1.35% |
2,447,434
+930,000
| +61% | +$48.5M |
2016 Q4
5 quarters
|
|
|
18
Invesco QQQ Trust
QQQ
$489B
| $124M | 1.27% |
772,225
-5,027,775
| -87% | -$831M |
2017 Q2
3 quarters
|
|
19
Thermo Fisher Scientific
TMO
$257B
| $123M | 1.27% |
597,000
+25,000
| +4% | +$5.25M |
2017 Q1
4 quarters
|
|
|
20
UBS Group
UBS
$147B
| $122M | 1.26% |
+6,955,399
| New | +$132M |
2018 Q1
0 quarters
|
|
21
Owens Corning
OC
$8.87B
| $114M | 1.17% |
1,416,704
+428,669
| +43% | +$37.4M |
2016 Q1
8 quarters
|
|
22
Dollar General
DG
$29.1B
| $114M | 1.17% |
1,214,776
+390,169
| +47% | +$37.5M |
2017 Q2
3 quarters
|
|
23
Huntsman Corp
HUN
$1.44B
| $109M | 1.13% |
3,736,630
+1,103,445
| +42% | +$36.1M |
2016 Q1
8 quarters
|
|
|
ETP
24
DELISTED
Energy Transfer Partners, L.P.
ETP
| $108M | 1.12% |
6,687,818
-1,492,276
| -18% | -$27.7M |
2017 Q2
3 quarters
|
|
25
Boston Scientific
BSX
$64.5B
| $107M | 1.1% |
3,910,738
-871,945
| -18% | -$23.7M |
2016 Q4
5 quarters
|
|
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David Tepper's Q1 2018 Portfolio in Review
As of Q1 2018, David Tepper held 64 positions worth $9.7B, down 9.5% from $10.7B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
David Tepper withdrew a net $1.13B in Q1 2018, closing 11 positions and reducing 18 holdings. Its most notable exit was Apple, an estimated $776M position sold in full.
By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 24% a quarter earlier, followed by Communication Services and Healthcare.
Against the trend, David Tepper opened a new position in Lam Research worth $263M.
- David Tepper's largest Q1 2018 buy was Lam Research: 12,955,860 shares worth $263M.
- David Tepper added most to Micron Technology in Q1 2018, an estimated $378M increase.
- David Tepper's biggest Q1 2018 reduction was Invesco QQQ Trust, cutting an estimated $831M.
- David Tepper fully exited Apple in Q1 2018, selling an estimated $776M.
- David Tepper's ten largest holdings make up 65% of its $9.7B portfolio in Q1 2018.
- David Tepper opened 14 new positions and closed 11 in Q1 2018.
- David Tepper's portfolio value fell 9.5% quarter-over-quarter to $9.7B.
Based on Appaloosa LP's 13F filing for Q1 2018, filed 15 May 2018.