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 |
Constellation Energy
CEG
|
+$162M |
| 2 |
Kohl's
KSS
|
+$57.6M |
| 3 |
Salesforce
CRM
|
+$35.3M |
| 4 |
Aptiv
APTV
|
+$25.5M |
| 5 |
Meta Platforms (Facebook)
META
|
+$21.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Occidental Petroleum
OXY
|
+$121M |
| 2 |
Micron Technology
MU
|
+$104M |
| 3 |
PG&E
PCG
|
+$61.8M |
| 4 |
State Street Energy Select Sector SPDR ETF
XLE
|
+$53.1M |
| 5 |
Goodyear
GT
|
+$46.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 24.7% |
| 2 | Consumer Discretionary | 23.57% |
| 3 | Energy | 20.57% |
| 4 | Utilities | 10.18% |
| 5 | Technology | 9.38% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Alphabet (Google) Class C
GOOG
$4.19T
| $219M | 13.73% |
2,000,000
-380,000
| -16% | -$44.9M |
|
|
2
Meta Platforms (Facebook)
META
$1.53T
| $161M | 10.12% |
1,000,000
+110,000
| +12% | +$21.2M |
|
3
Amazon
AMZN
$2.94T
| $159M | 10% |
1,500,000
-200,000
| -12% | -$25M |
|
|
4
Constellation Energy
CEG
$98.6B
| $155M | 9.71% |
+2,700,000
| New | +$162M |
|
5
Macy's
M
$6.45B
| $110M | 6.9% |
6,000,000
-1,911,642
| -24% | -$43.3M |
|
6
Energy Transfer Partners
ET
$71.6B
| $102M | 6.43% |
10,270,300
+1,058,907
| +11% | +$11.9M |
|
7
EQT Corp
EQT
$34B
| $98M | 6.15% |
2,850,000
-1,085,000
| -28% | -$44.7M |
|
8
UnitedHealth
UNH
$365B
| $77M | 4.84% |
150,000
-18,000
| -11% | -$9.04M |
|
|
9
Kohl's
KSS
$2.1B
| $66.9M | 4.2% |
1,875,000
+1,175,000
| +168% | +$57.6M |
|
10
Microsoft
MSFT
$3.74T
| $64.2M | 4.03% |
250,000
-116,000
| -32% | -$31.5M |
|
|
11
Occidental Petroleum
OXY
$59B
| $51.5M | 3.23% |
875,000
-1,965,000
| -69% | -$121M |
|
12
Antero Resources
AR
$11.6B
| $43.7M | 2.74% |
1,425,000
-550,000
| -28% | -$20.1M |
|
13
Sysco
SYY
$40.3B
| $36M | 2.26% |
425,000
-325,000
| -43% | -$27.2M |
|
|
14
Salesforce
CRM
$162B
| $33M | 2.07% |
+200,000
| New | +$35.3M |
|
|
15
Micron Technology
MU
$981B
| $31.8M | 2% |
575,000
-1,525,000
| -73% | -$104M |
|
|
16
Aptiv
APTV
$10.3B
| $22.3M | 1.4% |
+250,000
| New | +$25.5M |
|
|
EXEEZ
17
DELISTED
Expand Energy Corp Class B Warrants
EXEEZ
| $20.8M | 1.31% |
368,000
-10,000
| -3% | -$651K |
|
18
Uber
UBER
$160B
| $20.5M | 1.28% |
1,000,000
-1,020,000
| -50% | -$27.1M |
|
19
Enterprise Products Partners
EPD
$81.8B
| $19M | 1.19% |
777,980
-40,000
| -5% | -$1.05M |
|
20
Alerian MLP ETF
AMLP
$13.3B
| $14M | 0.88% |
405,000
| – | – |
|
21
HCA Healthcare
HCA
$89.1B
| $12.6M | 0.79% |
+75,000
| New | +$16.1M |
|
|
EXEEL
22
DELISTED
Expand Energy Corp Class C Warrants
EXEEL
| $12.6M | 0.79% |
240,000
| – | – |
|
23
The Mosaic Company
MOS
$7.34B
| $11.8M | 0.74% |
250,000
-585,000
| -70% | -$35.8M |
|
24
Alibaba
BABA
$306B
| $11.4M | 0.71% |
+100,000
| New | +$9.81M |
|
25
Netflix
NFLX
$311B
| $8.74M | 0.55% |
+500,000
| New | +$11.1M |
|
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David Tepper's Q2 2022 Portfolio in Review
As of Q2 2022, David Tepper held 42 positions worth $1.59B, down 36% from $2.5B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
David Tepper withdrew a net $519M in Q2 2022, closing 12 positions and reducing 16 holdings. Its most notable exit was State Street Energy Select Sector SPDR ETF, an estimated $53.1M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 25% of assets, up from 21% a quarter earlier, followed by Consumer Discretionary and Energy.
Against the trend, David Tepper opened a new position in Constellation Energy worth $155M.
- David Tepper's largest Q2 2022 buy was Constellation Energy: 2,700,000 shares worth $155M.
- David Tepper added most to Kohl's in Q2 2022, an estimated $57.6M increase.
- David Tepper's biggest Q2 2022 reduction was Occidental Petroleum, cutting an estimated $121M.
- David Tepper fully exited State Street Energy Select Sector SPDR ETF in Q2 2022, selling an estimated $53.1M.
- David Tepper's ten largest holdings make up 76% of its $1.59B portfolio in Q2 2022.
- David Tepper opened 8 new positions and closed 12 in Q2 2022.
- David Tepper's portfolio value fell 36% quarter-over-quarter to $1.59B.
Based on Appaloosa LP's 13F filing for Q2 2022, filed 15 Aug 2022.