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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
-2.9%
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
$5.69B
AUM Growth
-$3.09B
(-35%)
Cap. Flow
-$2.88B
Cap. Flow % of AUM
Cap. Flow %
-50.63%
Top 10 Holdings %
Top 10 Hldgs %
69.8%
Holding
52
New
3
Increased
6
Reduced
27
Closed
15
Avg Time Held
Equity + Options
1.3
years
Top 10 Avg Time Held
Equity + Options
1.2
years
Top 20 Avg Time Held
Equity + Options
0.8
years
Avg Time Held Equity only
1.3
years
Top 10 Avg Time Held Equity only
1.2
years
Top 20 Avg Time Held Equity only
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street
STT
|
+$104M |
| 2 |
PG&E
PCG
|
+$97.8M |
| 3 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Micron Technology
MU
$1.02T
| $1.63B | 28.62% |
36,000,000
-4,527,800
| -11% | -$228M |
2016 Q4
7 quarters
|
|
|
2
Meta Platforms (Facebook)
META
$1.8T
| $543M | 9.54% |
3,300,000
-1,775,000
| -35% | -$321M |
2016 Q3
8 quarters
|
|
|
AGN
3
DELISTED
Allergan plc
AGN
| $380M | 6.67% |
1,992,591
-1,397,409
| -41% | -$257M |
2016 Q1
10 quarters
|
|
|
4
Alibaba
BABA
$270B
| $247M | 4.34% |
1,500,000
-1,142,974
| -43% | -$202M |
2017 Q2
5 quarters
|
|
5
Alphabet (Google) Class C
GOOG
$4.16T
| $239M | 4.2% |
4,000,000
-2,620,000
| -40% | -$157M |
2016 Q1
10 quarters
|
|
|
AABA
6
DELISTED
Altaba Inc
AABA
| $230M | 4.05% |
3,380,000
-3,032,700
| -47% | -$214M |
2017 Q2
5 quarters
|
|
7
T-Mobile US
TMUS
$167B
| $189M | 3.32% |
2,690,127
-1,309,873
| -33% | -$84.2M |
2017 Q4
3 quarters
|
|
|
8
PG&E
PCG
$39.4B
| $184M | 3.23% |
3,991,033
+2,197,066
| +122% | +$97.8M |
2017 Q4
3 quarters
|
|
9
Lam Research
LRCX
$341B
| $178M | 3.13% |
11,750,000
-2,050,000
| -15% | -$35M |
2018 Q1
2 quarters
|
|
10
XPO
XPO
$21.7B
| $154M | 2.71% |
3,903,000
-853,473
| -18% | -$31M |
2017 Q3
4 quarters
|
|
11
DELISTED
Caesars Entertainment Corporation
CZR
| $149M | 2.62% |
14,522,636
-1,251,708
| -8% | -$13.2M |
2017 Q4
3 quarters
|
|
12
Bank of America
BAC
$352B
| $100M | 1.75% |
3,383,263
-3,860,432
| -53% | -$118M |
2017 Q1
6 quarters
|
|
|
13
State Street
STT
$45.4B
| $99.3M | 1.75% |
+1,185,823
| New | +$104M |
2018 Q3
0 quarters
|
|
14
NRG Energy
NRG
$20.9B
| $97.9M | 1.72% |
2,616,982
+44,540
| +2% | +$1.49M |
2017 Q2
5 quarters
|
|
15
UnitedHealth
UNH
$365B
| $92.8M | 1.63% |
348,890
-180,500
| -34% | -$46.9M |
2017 Q1
6 quarters
|
|
|
16
DELISTED
Mr. Cooper
COOP
| $87.2M | 1.53% |
5,230,591
+5,117,620
| +4,530% | +$88.6M |
2016 Q1
10 quarters
|
|
17
Centene
CNC
$33.9B
| $85.4M | 1.5% |
1,179,376
-872,456
| -43% | -$60.6M |
2016 Q4
7 quarters
|
|
|
ETP
18
DELISTED
Energy Transfer Partners, L.P.
ETP
| $85.2M | 1.5% |
3,827,431
-1,724,150
| -31% | -$37.4M |
2017 Q2
5 quarters
|
|
19
Dollar General
DG
$29.4B
| $81.6M | 1.43% |
746,130
-172,589
| -19% | -$17.9M |
2017 Q2
5 quarters
|
|
20
Energy Transfer Partners
ET
$69.2B
| $76.2M | 1.34% |
4,372,241
-1,603,431
| -27% | -$28.5M |
2017 Q2
5 quarters
|
|
21
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| $69M | 1.21% |
3,351,273
-110,191
| -3% | -$2.26M |
2016 Q1
10 quarters
|
|
22
Kennametal
KMT
$2.34B
| $64.6M | 1.14% |
1,484,134
-533,123
| -26% | -$21.1M |
2016 Q4
7 quarters
|
|
23
Cheniere Energy
LNG
$59.2B
| $63.8M | 1.12% |
918,000
-311,741
| -25% | -$20.1M |
2017 Q4
3 quarters
|
|
24
Owens Corning
OC
$8.7B
| $58.3M | 1.02% |
1,073,813
-335,351
| -24% | -$20.2M |
2016 Q1
10 quarters
|
|
25
Huntsman Corp
HUN
$1.46B
| $55.3M | 0.97% |
2,030,039
-1,079,002
| -35% | -$32.9M |
2016 Q1
10 quarters
|
|
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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 $2.88B 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.