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 |
Meta Platforms (Facebook)
META
|
+$135M |
| 2 |
Microsoft
MSFT
|
+$131M |
| 3 |
Amazon
AMZN
|
+$78.7M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$57.2M |
| 5 |
Pinduoduo
PDD
|
+$56M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Marvell Technology
MRVL
|
+$105M |
| 2 |
Broadcom
AVGO
|
+$104M |
| 3 |
Apple
AAPL
|
+$93.1M |
| 4 |
Baidu
BIDU
|
+$85.5M |
| 5 |
Alibaba
BABA
|
+$80.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 44.34% |
| 2 | Consumer Discretionary | 21.79% |
| 3 | Communication Services | 20.48% |
| 4 | Energy | 6.69% |
| 5 | Industrials | 3.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Meta Platforms (Facebook)
META
$1.65T
| $585M | 11.56% |
1,950,000
+447,500
| +30% | +$135M |
2016 Q3
28 quarters
|
|
|
2
Microsoft
MSFT
$3.87T
| $516M | 10.19% |
1,635,000
+395,000
| +32% | +$131M |
2020 Q1
14 quarters
|
|
|
3
Amazon
AMZN
$2.7T
| $477M | 9.41% |
3,750,000
+587,500
| +19% | +$78.7M |
2019 Q1
18 quarters
|
|
4
NVIDIA
NVDA
$5.12T
| $446M | 8.8% |
10,250,000
+50,000
| +0.5% | +$2.24M |
2023 Q1
2 quarters
|
|
|
5
Alphabet (Google) Class C
GOOG
$3.92T
| $363M | 7.16% |
2,750,000
+440,000
| +19% | +$57.2M |
2016 Q1
30 quarters
|
|
6
Uber
UBER
$141B
| $333M | 6.58% |
7,250,000
+100,000
| +1% | +$4.57M |
2021 Q2
9 quarters
|
|
|
7
Alibaba
BABA
$253B
| $312M | 6.16% |
3,600,000
-875,000
| -20% | -$80.1M |
2022 Q2
5 quarters
|
|
8
Advanced Micro Devices
AMD
$829B
| $234M | 4.62% |
2,275,000
-35,000
| -2% | -$3.8M |
2023 Q2
1 quarter
|
|
9
Intel
INTC
$452B
| $222M | 4.39% |
6,250,000
-525,000
| -8% | -$18.3M |
2023 Q2
1 quarter
|
|
10
FedEx
FDX
$71.9B
| $172M | 3.4% |
650,000
| – | – |
2023 Q1
2 quarters
|
|
11
Qualcomm
QCOM
$185B
| $144M | 2.85% |
1,300,000
-550,000
| -30% | -$63.8M |
2023 Q2
1 quarter
|
|
|
12
Pinduoduo
PDD
$113B
| $137M | 2.71% |
1,400,000
+650,000
| +87% | +$56M |
2023 Q2
1 quarter
|
|
13
Energy Transfer Partners
ET
$69B
| $137M | 2.71% |
9,781,876
| – | – |
2017 Q2
25 quarters
|
|
14
UnitedHealth
UNH
$381B
| $101M | 1.99% |
200,000
| – | – |
2017 Q1
26 quarters
|
|
15
Micron Technology
MU
$969B
| $95.2M | 1.88% |
1,400,000
| – | – |
2023 Q2
1 quarter
|
|
|
16
Baidu
BIDU
$26.6B
| $89.3M | 1.76% |
665,000
-610,000
| -48% | -$85.5M |
2023 Q2
1 quarter
|
|
17
TSMC
TSM
$2.14T
| $86.9M | 1.72% |
1,000,000
-775,000
| -44% | -$73.3M |
2023 Q2
1 quarter
|
|
18
EQT Corp
EQT
$34.2B
| $83.6M | 1.65% |
2,060,000
| – | – |
2020 Q4
11 quarters
|
|
19
Lam Research
LRCX
$288B
| $75.2M | 1.48% |
1,200,000
| – | – |
2023 Q2
1 quarter
|
|
20
Caesars Entertainment
CZR
$5.92B
| $70.7M | 1.4% |
1,525,000
+290,000
| +23% | +$15.4M |
2022 Q4
3 quarters
|
|
21
Macy's
M
$6.31B
| $58M | 1.15% |
5,000,000
| – | – |
2020 Q4
11 quarters
|
|
22
Antero Resources
AR
$12B
| $49.7M | 0.98% |
1,960,000
| – | – |
2021 Q1
10 quarters
|
|
23
JD.com
JD
$34.7B
| $48.8M | 0.96% |
1,675,000
-200,000
| -11% | -$6.96M |
2023 Q2
1 quarter
|
|
24
ASML
ASML
$601B
| $47.1M | 0.93% |
80,000
| – | – |
2023 Q2
1 quarter
|
|
25
Arista Networks
ANET
$216B
| $46M | 0.91% |
1,000,000
| – | – |
2023 Q2
1 quarter
|
|
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David Tepper's Q3 2023 Portfolio in Review
As of Q3 2023, David Tepper held 40 positions worth $5.07B, down 6% from $5.39B the previous quarter. Its ten largest holdings account for 72% of the portfolio.
David Tepper withdrew a net $353M in Q3 2023, closing 8 positions and reducing 7 holdings. Its most notable exit was Marvell Technology, an estimated $105M position sold in full.
By sector, the portfolio is most concentrated in Technology at 44% of assets, down from 51% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, David Tepper opened a new position in KE Holdings worth $37.2M.
- David Tepper's largest Q3 2023 buy was KE Holdings: 2,400,000 shares worth $37.2M.
- David Tepper added most to Meta Platforms (Facebook) in Q3 2023, an estimated $135M increase.
- David Tepper's biggest Q3 2023 reduction was Baidu, cutting an estimated $85.5M.
- David Tepper fully exited Marvell Technology in Q3 2023, selling an estimated $105M.
- David Tepper's ten largest holdings make up 72% of its $5.07B portfolio in Q3 2023.
- David Tepper opened 1 new position and closed 8 in Q3 2023.
- David Tepper's portfolio value fell 6% quarter-over-quarter to $5.07B.
Based on Appaloosa LP's 13F filing for Q3 2023, filed 14 Nov 2023.