Insight into the Investment Moves of a Wall Street Titan
David Tepper (Trades, Portfolio), the esteemed founder of Appaloosa Management, has made his mark on the fourth quarter of 2023 with strategic investment choices revealed in the latest 13F filing. Known for his exceptional returns and expertise in distressed debt investing, Tepper's moves are closely watched by investors worldwide. With a Master's degree from Carnegie Mellon and a keen eye for value, Tepper's Appaloosa Management navigates the complexities of public equity and fixed income markets with a focus on distressed companies.
Summary of New Buys
David Tepper (Trades, Portfolio)'s portfolio expansion includes 10 new stocks, with Oracle Corp (ORCL, Financial) leading the pack:
- Oracle Corp (ORCL, Financial) with 1,325,000 shares, representing 2.41% of the portfolio and valued at $139.69 million.
- United Parcel Service Inc (UPS, Financial) comprising 500,000 shares, or 1.36% of the portfolio, valued at $78.62 million.
- HCA Healthcare Inc (HCA, Financial) with 117,198 shares, making up 0.55% of the portfolio, valued at $31.72 million.
Key Position Increases
Tepper has also bolstered his stakes in 6 companies, with Alibaba Group Holding Ltd (BABA, Financial) seeing a significant boost:
- Alibaba Group Holding Ltd (BABA, Financial) increased by 750,000 shares, totaling 4,350,000 shares, marking a 20.83% rise in share count and a 1% portfolio impact, valued at $337.17 million.
- Caesars Entertainment Inc (CZR, Financial) increased by 725,000 shares, reaching a total of 2,250,000 shares, a 47.54% jump in share count, valued at $105.48 million.
Summary of Sold Out Positions
Tepper has exited positions in 3 companies during the fourth quarter of 2023:
- JD.com Inc (JD, Financial) with the sale of all 1,675,000 shares, impacting the portfolio by -0.96%.
- Arista Networks Inc (ANET, Financial) with the liquidation of all 250,000 shares, resulting in a -0.91% portfolio impact.
Key Position Reductions
Appaloosa Management has trimmed its holdings in 14 stocks, with notable reductions in:
- NVIDIA Corp (NVDA, Financial) by 235,000 shares, a -22.93% decrease, impacting the portfolio by -2.02%. The stock's average trading price was $463.42 during the quarter, with a 48.84% return over the past 3 months and a 49.23% year-to-date gain.
- PDD Holdings Inc (PDD, Financial) by 625,000 shares, a -44.64% reduction, affecting the portfolio by -1.21%. The stock's average trading price was $121.27 during the quarter, with an 18.93% return over the past 3 months and a -9.77% year-to-date change.
Portfolio Overview
As of the fourth quarter of 2023, David Tepper (Trades, Portfolio)'s portfolio is composed of 40 stocks. The top holdings include 11.31% in Meta Platforms Inc (META, Financial), 11.04% in Microsoft Corp (MSFT, Financial), 10.36% in Amazon.com Inc (AMZN, Financial), 6.76% in NVIDIA Corp (NVDA), and 6.38% in Uber Technologies Inc (UBER, Financial). The investments are predominantly concentrated in 8 industries: Technology, Consumer Cyclical, Communication Services, Energy, Industrials, Healthcare, Real Estate, and Basic Materials.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
