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 |
Micron Technology
MU
|
+$277M |
| 2 |
KeyCorp
KEY
|
+$107M |
| 3 |
Gen Digital
GEN
|
+$91.3M |
| 4 |
Citizens Financial Group
CFG
|
+$52.4M |
| 5 |
Western Digital
WDC
|
+$50.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$269M |
| 2 |
Meta Platforms (Facebook)
META
|
+$205M |
| 3 |
NRG Energy
NRG
|
+$135M |
| 4 |
Invesco QQQ Trust
QQQ
|
+$124M |
| 5 |
AABA
Altaba Inc
AABA
|
+$120M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 34.39% |
| 2 | Communication Services | 18.15% |
| 3 | Healthcare | 12.28% |
| 4 | Financials | 8.79% |
| 5 | Consumer Discretionary | 8.3% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Micron Technology
MU
$981B
| $2.13B | 24.19% |
40,527,800
+5,122,800
| +14% | +$277M |
|
|
2
Meta Platforms (Facebook)
META
$1.53T
| $986M | 11.23% |
5,075,000
-1,135,000
| -18% | -$205M |
|
|
AGN
3
DELISTED
Allergan plc
AGN
| $565M | 6.43% |
3,390,000
-310,000
| -8% | -$49.8M |
|
|
4
Alibaba
BABA
$306B
| $490M | 5.58% |
2,642,974
-1,409,642
| -35% | -$269M |
|
|
AABA
5
DELISTED
Altaba Inc
AABA
| $469M | 5.34% |
6,412,700
-1,608,300
| -20% | -$120M |
|
6
Alphabet (Google) Class C
GOOG
$4.19T
| $369M | 4.2% |
6,620,000
-1,496,940
| -18% | -$80.9M |
|
7
T-Mobile US
TMUS
$192B
| $239M | 2.72% |
4,000,000
-150,000
| -4% | -$8.88M |
|
8
Lam Research
LRCX
$390B
| $239M | 2.72% |
13,800,000
+844,140
| +7% | +$16.3M |
|
9
Bank of America
BAC
$448B
| $204M | 2.32% |
7,243,695
-3,721,818
| -34% | -$111M |
|
10
Wells Fargo
WFC
$264B
| $181M | 2.06% |
3,256,261
+318,646
| +11% | +$17.1M |
|
|
CZR
11
DELISTED
Caesars Entertainment Corporation
CZR
| $169M | 1.92% |
15,774,344
+3,118,670
| +25% | +$36.4M |
|
12
XPO
XPO
$23.8B
| $165M | 1.88% |
4,756,473
-1,411,073
| -23% | -$51.2M |
|
13
UnitedHealth
UNH
$365B
| $130M | 1.48% |
529,390
-177,199
| -25% | -$42.5M |
|
14
Ally Financial
ALLY
$13.4B
| $127M | 1.44% |
4,817,993
-3,130,152
| -39% | -$83.6M |
|
15
Centene
CNC
$32.1B
| $126M | 1.44% |
2,051,832
-395,602
| -16% | -$22.8M |
|
16
Thermo Fisher Scientific
TMO
$224B
| $121M | 1.38% |
585,000
-12,000
| -2% | -$2.55M |
|
|
ETP
17
DELISTED
Energy Transfer Partners, L.P.
ETP
| $106M | 1.2% |
5,551,581
-1,136,237
| -17% | -$20.9M |
|
18
UBS Group
UBS
$176B
| $106M | 1.2% |
6,828,480
-126,919
| -2% | -$2.06M |
|
|
19
KeyCorp
KEY
$24.3B
| $105M | 1.19% |
+5,351,561
| New | +$107M |
|
20
Energy Transfer Partners
ET
$71.6B
| $103M | 1.17% |
5,975,672
-315,862
| -5% | -$5.19M |
|
21
Huntsman Corp
HUN
$1.83B
| $90.8M | 1.03% |
3,109,041
-627,589
| -17% | -$19.4M |
|
22
Dollar General
DG
$26.5B
| $90.6M | 1.03% |
918,719
-296,057
| -24% | -$28.5M |
|
23
Owens Corning
OC
$12.6B
| $89.3M | 1.02% |
1,409,164
-7,540
| -0.5% | -$521K |
|
|
WPZ
24
DELISTED
Williams Partners L.P.
WPZ
| $86M | 0.98% |
2,119,775
-603,629
| -22% | -$23M |
|
|
25
Western Digital
WDC
$151B
| $85.1M | 0.97% |
1,454,639
+793,139
| +120% | +$50.5M |
|
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David Tepper's Q2 2018 Portfolio in Review
As of Q2 2018, David Tepper held 60 positions worth $8.78B, down 9.6% from $9.72B the previous quarter. Its ten largest holdings account for 67% of the portfolio.
David Tepper withdrew a net $1.23B in Q2 2018, closing 11 positions and reducing 29 holdings. Its most notable exit was Invesco QQQ Trust, an estimated $124M position sold in full.
By sector, the portfolio is most concentrated in Technology at 34% of assets, up from 30% a quarter earlier, followed by Communication Services and Healthcare.
Against the trend, David Tepper opened a new position in KeyCorp worth $105M.
- David Tepper's largest Q2 2018 buy was KeyCorp: 5,351,561 shares worth $105M.
- David Tepper added most to Micron Technology in Q2 2018, an estimated $277M increase.
- David Tepper's biggest Q2 2018 reduction was Alibaba, cutting an estimated $269M.
- David Tepper fully exited Invesco QQQ Trust in Q2 2018, selling an estimated $124M.
- David Tepper's ten largest holdings make up 67% of its $8.78B portfolio in Q2 2018.
- David Tepper opened 7 new positions and closed 11 in Q2 2018.
- David Tepper's portfolio value fell 9.6% quarter-over-quarter to $8.78B.
Based on Appaloosa LP's 13F filing for Q2 2018, filed 14 Aug 2018.