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 | |
|---|---|---|---|---|---|---|
|
1
Meta Platforms (Facebook)
META
$1.53T
| $585M | 11.56% |
1,950,000
+447,500
| +30% | +$135M |
|
|
2
Microsoft
MSFT
$3.74T
| $516M | 10.19% |
1,635,000
+395,000
| +32% | +$131M |
|
|
3
Amazon
AMZN
$2.94T
| $477M | 9.41% |
3,750,000
+587,500
| +19% | +$78.7M |
|
4
NVIDIA
NVDA
$5.27T
| $446M | 8.8% |
10,250,000
+50,000
| +0.5% | +$2.24M |
|
|
5
Alphabet (Google) Class C
GOOG
$4.19T
| $363M | 7.16% |
2,750,000
+440,000
| +19% | +$57.2M |
|
6
Uber
UBER
$160B
| $333M | 6.58% |
7,250,000
+100,000
| +1% | +$4.57M |
|
|
7
Alibaba
BABA
$306B
| $312M | 6.16% |
3,600,000
-875,000
| -20% | -$80.1M |
|
8
Advanced Micro Devices
AMD
$774B
| $234M | 4.62% |
2,275,000
-35,000
| -2% | -$3.8M |
|
9
Intel
INTC
$493B
| $222M | 4.39% |
6,250,000
-525,000
| -8% | -$18.3M |
|
10
FedEx
FDX
$76.3B
| $172M | 3.4% |
650,000
| – | – |
|
11
Qualcomm
QCOM
$171B
| $144M | 2.85% |
1,300,000
-550,000
| -30% | -$63.8M |
|
|
12
Pinduoduo
PDD
$129B
| $137M | 2.71% |
1,400,000
+650,000
| +87% | +$56M |
|
13
Energy Transfer Partners
ET
$71.6B
| $137M | 2.71% |
9,781,876
| – | – |
|
14
UnitedHealth
UNH
$365B
| $101M | 1.99% |
200,000
| – | – |
|
15
Micron Technology
MU
$981B
| $95.2M | 1.88% |
1,400,000
| – | – |
|
|
16
Baidu
BIDU
$35.9B
| $89.3M | 1.76% |
665,000
-610,000
| -48% | -$85.5M |
|
17
TSMC
TSM
$2.19T
| $86.9M | 1.72% |
1,000,000
-775,000
| -44% | -$73.3M |
|
18
EQT Corp
EQT
$34B
| $83.6M | 1.65% |
2,060,000
| – | – |
|
19
Lam Research
LRCX
$390B
| $75.2M | 1.48% |
1,200,000
| – | – |
|
20
Caesars Entertainment
CZR
$6.06B
| $70.7M | 1.4% |
1,525,000
+290,000
| +23% | +$15.4M |
|
21
Macy's
M
$6.45B
| $58M | 1.15% |
5,000,000
| – | – |
|
22
Antero Resources
AR
$11.6B
| $49.7M | 0.98% |
1,960,000
| – | – |
|
23
JD.com
JD
$43.1B
| $48.8M | 0.96% |
1,675,000
-200,000
| -11% | -$6.96M |
|
24
ASML
ASML
$691B
| $47.1M | 0.93% |
80,000
| – | – |
|
25
Arista Networks
ANET
$250B
| $46M | 0.91% |
1,000,000
| – | – |
|
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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.