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 |
State Street
STT
|
+$104M |
| 2 |
PG&E
PCG
|
+$97.8M |
| 3 |
COOP
Mr. Cooper
COOP
|
+$88.6M |
| 4 |
Williams Companies
WMB
|
+$30.3M |
| 5 |
Apple
AAPL
|
+$20.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$321M |
| 2 |
AGN
Allergan plc
AGN
|
+$257M |
| 3 |
Micron Technology
MU
|
+$228M |
| 4 |
AABA
Altaba Inc
AABA
|
+$214M |
| 5 |
Alibaba
BABA
|
+$202M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 36.19% |
| 2 | Communication Services | 17.05% |
| 3 | Healthcare | 11.47% |
| 4 | Consumer Discretionary | 7.77% |
| 5 | Utilities | 7.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Micron Technology
MU
$981B
| $1.63B | 28.62% |
36,000,000
-4,527,800
| -11% | -$228M |
|
|
2
Meta Platforms (Facebook)
META
$1.53T
| $543M | 9.54% |
3,300,000
-1,775,000
| -35% | -$321M |
|
|
AGN
3
DELISTED
Allergan plc
AGN
| $380M | 6.67% |
1,992,591
-1,397,409
| -41% | -$257M |
|
|
4
Alibaba
BABA
$306B
| $247M | 4.34% |
1,500,000
-1,142,974
| -43% | -$202M |
|
5
Alphabet (Google) Class C
GOOG
$4.19T
| $239M | 4.2% |
4,000,000
-2,620,000
| -40% | -$157M |
|
|
AABA
6
DELISTED
Altaba Inc
AABA
| $230M | 4.05% |
3,380,000
-3,032,700
| -47% | -$214M |
|
7
T-Mobile US
TMUS
$192B
| $189M | 3.32% |
2,690,127
-1,309,873
| -33% | -$84.2M |
|
|
8
PG&E
PCG
$38.1B
| $184M | 3.23% |
3,991,033
+2,197,066
| +122% | +$97.8M |
|
9
Lam Research
LRCX
$390B
| $178M | 3.13% |
11,750,000
-2,050,000
| -15% | -$35M |
|
10
XPO
XPO
$23.8B
| $154M | 2.71% |
3,903,000
-853,473
| -18% | -$31M |
|
|
CZR
11
DELISTED
Caesars Entertainment Corporation
CZR
| $149M | 2.62% |
14,522,636
-1,251,708
| -8% | -$13.2M |
|
12
Bank of America
BAC
$448B
| $99.7M | 1.75% |
3,383,263
-3,860,432
| -53% | -$118M |
|
|
13
State Street
STT
$51.4B
| $99.3M | 1.75% |
+1,185,823
| New | +$104M |
|
14
NRG Energy
NRG
$25.2B
| $97.9M | 1.72% |
2,616,982
+44,540
| +2% | +$1.49M |
|
15
UnitedHealth
UNH
$365B
| $92.8M | 1.63% |
348,890
-180,500
| -34% | -$46.9M |
|
|
COOP
16
DELISTED
Mr. Cooper
COOP
| $87.2M | 1.53% |
5,230,591
+5,117,620
| +4,530% | +$88.6M |
|
17
Centene
CNC
$32.1B
| $85.4M | 1.5% |
1,179,376
-872,456
| -43% | -$60.6M |
|
|
ETP
18
DELISTED
Energy Transfer Partners, L.P.
ETP
| $85.2M | 1.5% |
3,827,431
-1,724,150
| -31% | -$37.4M |
|
19
Dollar General
DG
$26.5B
| $81.6M | 1.43% |
746,130
-172,589
| -19% | -$17.9M |
|
20
Energy Transfer Partners
ET
$71.6B
| $76.2M | 1.34% |
4,372,241
-1,603,431
| -27% | -$28.5M |
|
|
AY
21
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| $69M | 1.21% |
3,351,273
-110,191
| -3% | -$2.26M |
|
22
Kennametal
KMT
$2.3B
| $64.6M | 1.14% |
1,484,134
-533,123
| -26% | -$21.1M |
|
23
Cheniere Energy
LNG
$54.8B
| $63.8M | 1.12% |
918,000
-311,741
| -25% | -$20.1M |
|
24
Owens Corning
OC
$12.6B
| $58.3M | 1.02% |
1,073,813
-335,351
| -24% | -$20.2M |
|
25
Huntsman Corp
HUN
$1.83B
| $55.3M | 0.97% |
2,030,039
-1,079,002
| -35% | -$32.9M |
|
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David Tepper's Q3 2018 Portfolio in Review
As of Q3 2018, David Tepper held 52 positions worth $5.69B, down 35% from $8.78B the previous quarter. Its ten largest holdings account for 70% of the portfolio.
David Tepper withdrew a net $2.93B in Q3 2018, closing 15 positions and reducing 27 holdings. Its most notable exit was Wells Fargo, an estimated $181M position sold in full.
By sector, the portfolio is most concentrated in Technology at 36% of assets, up from 34% a quarter earlier, followed by Communication Services and Healthcare.
Against the trend, David Tepper opened a new position in State Street worth $99.3M.
- David Tepper's largest Q3 2018 buy was State Street: 1,185,823 shares worth $99.3M.
- David Tepper added most to PG&E in Q3 2018, an estimated $97.8M increase.
- David Tepper's biggest Q3 2018 reduction was Meta Platforms (Facebook), cutting an estimated $321M.
- David Tepper fully exited Wells Fargo in Q3 2018, selling an estimated $181M.
- David Tepper's ten largest holdings make up 70% of its $5.69B portfolio in Q3 2018.
- David Tepper opened 3 new positions and closed 15 in Q3 2018.
- David Tepper's portfolio value fell 35% quarter-over-quarter to $5.69B.
Based on Appaloosa LP's 13F filing for Q3 2018, filed 14 Nov 2018.