Hedge fund billionaire David Tepper is one of the few investors that made money in both the market crash of 2009 and the recoveries in 2009. You would wonder how he can time the market. One thing he does the best is to buy distressed debt/stocks when no one wants them. He has built a great record out of that and made himself multi-billionaire. It makes us thinking when we observe that David Tepper make a lot buys than sells during the third quarter of 2012. He must be extremely bullish. Especially he bought into distressed financials like AIG, which is now his 4th largest holding. He also bought financials such as JPMorgan (JPM, Financial), Morgan Stanly (MS) etc. He increased his position in cyclical such as MGM (MGM, Financial) and Ford (F, Financial). But he reduced his position in Bank of America (BAC, Financial).
As of 09/30/2012, David Tepper’s firm Appaloosa Management LP owns 52 stocks with a total value of $4 billion. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of David Tepper
New Purchase: American International Group Inc (AIG, Financial)
David Tepper initiated holdings in American International Group Inc. His purchase prices were between $30.17 and $35, with an estimated average price of $32.65. The impact to his portfolio due to this purchase was 6.7%. His holdings were 8,250,000 shares as of 09/30/2012. American International Group, Inc., world leaders in insurance and financial services, is the international insurance organization with operations in more than one hundred thirty countries and jurisdictions. American International Group Inc has a market cap of $52.45 billion; its shares were traded at around $31.16 with a P/E ratio of 7.1 and P/S ratio of 0.9.
New Purchase: JPMorgan Chase & Co (JPM)
David Tepper initiated holdings in JPMorgan Chase & Co. His purchase prices were between $33.89 and $41.57, with an estimated average price of $37.09. The impact to his portfolio due to this purchase was 2.4%. His holdings were 2,397,178 shares as of 09/30/2012. JPMorgan Chase & Co. is a financial services firm. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. JPMorgan Chase & Co has a market cap of $154.3 billion; its shares were traded at around $39.39 with a P/E ratio of 8.6 and P/S ratio of 1.6. The dividend yield of JPMorgan Chase & Co stocks is 3%.
New Purchase: Sealed Air Corporation (SEE, Financial)
David Tepper initiated holdings in Sealed Air Corporation. His purchase prices were between $13.07 and $16.67, with an estimated average price of $15.08. The impact to his portfolio due to this purchase was 0.79%. His holdings were 2,052,190 shares as of 09/30/2012. Sealed Air Corporation is a global leader in performance solutions for food, protective and specialty packaging. Sealed Air Corporation has a market cap of $3.24 billion; its shares were traded at around $16.6 with a P/E ratio of 15 and P/S ratio of 0.6. The dividend yield of Sealed Air Corporation stocks is 3.1%.
New Purchase: Spdr S&p 500 Etf (SPY)
David Tepper initiated holdings in Spdr S&p 500 Etf. His purchase prices were between $133.51 and $147.19, with an estimated average price of $139.87. The impact to his portfolio due to this purchase was 0.35%. His holdings were 97,741 shares as of 09/30/2012. Standard and Poor's Depository Reciepts trust is involved in the financial services industry. Spdr S&p 500 Etf has a market cap of $110.7 billion; its shares were traded at around $135.67 . The dividend yield of Spdr S&p 500 Etf stocks is 2.1%.
New Purchase: Morgan Stanley (MS)
David Tepper initiated holdings in Morgan Stanley. His purchase prices were between $12.62 and $18.25, with an estimated average price of $14.9. The impact to his portfolio due to this purchase was 0.21%. His holdings were 500,000 shares as of 09/30/2012. MORGAN STANLEY is a preeminent global financial services firm that maintains market positions in each of its three primary businesses: securities; asset management; and credit services. Morgan Stanley has a market cap of $32.81 billion; its shares were traded at around $16.22 with a P/E ratio of 16.5 and P/S ratio of 1. The dividend yield of Morgan Stanley stocks is 1.2%.
New Purchase: Teradyne Inc (TER)
David Tepper initiated holdings in Teradyne Inc. His purchase prices were between $13.06 and $16.43, with an estimated average price of $14.69. The impact to his portfolio due to this purchase was 0.15%. His holdings were 419,596 shares as of 09/30/2012. Teradyne, Inc. is a manufacturer of automatic test equipment and related software for the electronics and communications industries. Teradyne Inc has a market cap of $2.91 billion; its shares were traded at around $14.89 with a P/E ratio of 8.8 and P/S ratio of 2.
Sold Out: Nuance Communications, Inc. (NUAN)
David Tepper sold out his holdings in Nuance Communications, Inc.. His sale prices were between $19.81 and $25.74, with an estimated average price of $22.97. Nuance Communications, Inc. is the provider of speech and imaging solutions for businesses and consumers around the world. Nuance Communications, Inc. has a market cap of $6.51 billion; its shares were traded at around $20.4 with a P/E ratio of 17.9 and P/S ratio of 4.9. Nuance Communications, Inc. had an annual average earnings growth of 21.2% over the past 5 years.
Added: MGM Resorts International (MGM)
David Tepper added to his holdings in Mgm Resorts International by 244.19%. His purchase prices were between $9 and $11.4, with an estimated average price of $10.2. The impact to his portfolio due to this purchase was 1.28%. His holdings were 6,891,654 shares as of 09/30/2012. MGM Resorts International, formerly known as MGM MIRAGE, is a global hospitality company, operating a portfolio of destination resort brands, including Bellagio, MGM Grand, Mandalay Bay and The Mirage. Mgm Resorts International has a market cap of $4.9 billion; its shares were traded at around $9.37 with and P/S ratio of 0.6.
Added: Hartford Financial Services Group Inc (HIG, Financial)
David Tepper added to his holdings in Hartford Financial Services Group Inc by 236.7%. His purchase prices were between $15.92 and $20.34, with an estimated average price of $17.65. The impact to his portfolio due to this purchase was 1.2%. His holdings were 3,612,650 shares as of 09/30/2012. Hartford Financial Services is one of the nation's largest investment and insurance companies, offers a complete line of insurance and financial service products to customers all over the world. Hartford Financial Services Group Inc has a market cap of $9.07 billion; its shares were traded at around $20.49 with a P/E ratio of 7.1 and P/S ratio of 0.4. The dividend yield of Hartford Financial Services Group Inc stocks is 1.9%.
Added: Ford Motor Co (F)
David Tepper added to his holdings in Ford Motor Co by 51.79%. His purchase prices were between $8.9 and $10.59, with an estimated average price of $9.55. The impact to his portfolio due to this purchase was 0.99%. His holdings were 11,618,973 shares as of 09/30/2012. Ford Motor Company produces cars and trucks. The company and its subsidiaries also engage in other businesses, including manufacturing automotive components and systems and financing and renting vehicles and equipment. Ford Motor Co has a market cap of $41.73 billion; its shares were traded at around $10.495 with a P/E ratio of 8.5 and P/S ratio of 0.3. The dividend yield of Ford Motor Co stocks is 1.8%.
Here is the complete portfolio of David Tepper. Also check out:
1. David Tepper's Undervalued Stocks
2. David Tepper's Top Growth Companies, and
3. David Tepper's High Yield stocks
As of 09/30/2012, David Tepper’s firm Appaloosa Management LP owns 52 stocks with a total value of $4 billion. These are the details of the buys and sells.
- New Purchases: AIG, JPM, SEE, SPY, MS, TER,
- Added Positions: MGM, HIG, F, BRCM, GT, C, GM, BZH, HUN, MAS, CIM, CE, MRVL, LRCX, DAL, LCC, UAL, OC, FIO, BYD,
- Reduced Positions: QQQ, VLO, BAC,
- Sold Out: NUAN,
This is the sector weightings of his portfolio:
| Technology | 28.4% |
| Financials | 22% |
| Consumer Goods | 13.6% |
| Consumer Services | 8.2% |
| Industrials | 5.9% |
| Oil & Gas | 5.5% |
| Basic Materials | 4.7% |
| Not Assigned | 0.4% |
These are the top 5 holdings of David Tepper
- PowerShares QQQ Trust, Series 1 (ETF) (QQQ) - 6,449,182 shares, 11.0% of the total portfolio. Shares reduced by 23.31%
- Apple Inc (AAPL) - 521,188 shares, 8.7% of the total portfolio. Shares added by 0.94%
- Citigroup Inc (C) - 10,194,547 shares, 8.3% of the total portfolio. Shares added by 10.02%
- American International Group Inc (AIG) - 8,250,000 shares, 6.7% of the total portfolio. New Position
- United Continental Holdings Inc (UAL) - 9,818,965 shares, 4.8% of the total portfolio. Shares added by 3.53%
New Purchase: American International Group Inc (AIG, Financial)
David Tepper initiated holdings in American International Group Inc. His purchase prices were between $30.17 and $35, with an estimated average price of $32.65. The impact to his portfolio due to this purchase was 6.7%. His holdings were 8,250,000 shares as of 09/30/2012. American International Group, Inc., world leaders in insurance and financial services, is the international insurance organization with operations in more than one hundred thirty countries and jurisdictions. American International Group Inc has a market cap of $52.45 billion; its shares were traded at around $31.16 with a P/E ratio of 7.1 and P/S ratio of 0.9.
New Purchase: JPMorgan Chase & Co (JPM)
David Tepper initiated holdings in JPMorgan Chase & Co. His purchase prices were between $33.89 and $41.57, with an estimated average price of $37.09. The impact to his portfolio due to this purchase was 2.4%. His holdings were 2,397,178 shares as of 09/30/2012. JPMorgan Chase & Co. is a financial services firm. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. JPMorgan Chase & Co has a market cap of $154.3 billion; its shares were traded at around $39.39 with a P/E ratio of 8.6 and P/S ratio of 1.6. The dividend yield of JPMorgan Chase & Co stocks is 3%.
New Purchase: Sealed Air Corporation (SEE, Financial)
David Tepper initiated holdings in Sealed Air Corporation. His purchase prices were between $13.07 and $16.67, with an estimated average price of $15.08. The impact to his portfolio due to this purchase was 0.79%. His holdings were 2,052,190 shares as of 09/30/2012. Sealed Air Corporation is a global leader in performance solutions for food, protective and specialty packaging. Sealed Air Corporation has a market cap of $3.24 billion; its shares were traded at around $16.6 with a P/E ratio of 15 and P/S ratio of 0.6. The dividend yield of Sealed Air Corporation stocks is 3.1%.
New Purchase: Spdr S&p 500 Etf (SPY)
David Tepper initiated holdings in Spdr S&p 500 Etf. His purchase prices were between $133.51 and $147.19, with an estimated average price of $139.87. The impact to his portfolio due to this purchase was 0.35%. His holdings were 97,741 shares as of 09/30/2012. Standard and Poor's Depository Reciepts trust is involved in the financial services industry. Spdr S&p 500 Etf has a market cap of $110.7 billion; its shares were traded at around $135.67 . The dividend yield of Spdr S&p 500 Etf stocks is 2.1%.
New Purchase: Morgan Stanley (MS)
David Tepper initiated holdings in Morgan Stanley. His purchase prices were between $12.62 and $18.25, with an estimated average price of $14.9. The impact to his portfolio due to this purchase was 0.21%. His holdings were 500,000 shares as of 09/30/2012. MORGAN STANLEY is a preeminent global financial services firm that maintains market positions in each of its three primary businesses: securities; asset management; and credit services. Morgan Stanley has a market cap of $32.81 billion; its shares were traded at around $16.22 with a P/E ratio of 16.5 and P/S ratio of 1. The dividend yield of Morgan Stanley stocks is 1.2%.
New Purchase: Teradyne Inc (TER)
David Tepper initiated holdings in Teradyne Inc. His purchase prices were between $13.06 and $16.43, with an estimated average price of $14.69. The impact to his portfolio due to this purchase was 0.15%. His holdings were 419,596 shares as of 09/30/2012. Teradyne, Inc. is a manufacturer of automatic test equipment and related software for the electronics and communications industries. Teradyne Inc has a market cap of $2.91 billion; its shares were traded at around $14.89 with a P/E ratio of 8.8 and P/S ratio of 2.
Sold Out: Nuance Communications, Inc. (NUAN)
David Tepper sold out his holdings in Nuance Communications, Inc.. His sale prices were between $19.81 and $25.74, with an estimated average price of $22.97. Nuance Communications, Inc. is the provider of speech and imaging solutions for businesses and consumers around the world. Nuance Communications, Inc. has a market cap of $6.51 billion; its shares were traded at around $20.4 with a P/E ratio of 17.9 and P/S ratio of 4.9. Nuance Communications, Inc. had an annual average earnings growth of 21.2% over the past 5 years.
Added: MGM Resorts International (MGM)
David Tepper added to his holdings in Mgm Resorts International by 244.19%. His purchase prices were between $9 and $11.4, with an estimated average price of $10.2. The impact to his portfolio due to this purchase was 1.28%. His holdings were 6,891,654 shares as of 09/30/2012. MGM Resorts International, formerly known as MGM MIRAGE, is a global hospitality company, operating a portfolio of destination resort brands, including Bellagio, MGM Grand, Mandalay Bay and The Mirage. Mgm Resorts International has a market cap of $4.9 billion; its shares were traded at around $9.37 with and P/S ratio of 0.6.
Added: Hartford Financial Services Group Inc (HIG, Financial)
David Tepper added to his holdings in Hartford Financial Services Group Inc by 236.7%. His purchase prices were between $15.92 and $20.34, with an estimated average price of $17.65. The impact to his portfolio due to this purchase was 1.2%. His holdings were 3,612,650 shares as of 09/30/2012. Hartford Financial Services is one of the nation's largest investment and insurance companies, offers a complete line of insurance and financial service products to customers all over the world. Hartford Financial Services Group Inc has a market cap of $9.07 billion; its shares were traded at around $20.49 with a P/E ratio of 7.1 and P/S ratio of 0.4. The dividend yield of Hartford Financial Services Group Inc stocks is 1.9%.
Added: Ford Motor Co (F)
David Tepper added to his holdings in Ford Motor Co by 51.79%. His purchase prices were between $8.9 and $10.59, with an estimated average price of $9.55. The impact to his portfolio due to this purchase was 0.99%. His holdings were 11,618,973 shares as of 09/30/2012. Ford Motor Company produces cars and trucks. The company and its subsidiaries also engage in other businesses, including manufacturing automotive components and systems and financing and renting vehicles and equipment. Ford Motor Co has a market cap of $41.73 billion; its shares were traded at around $10.495 with a P/E ratio of 8.5 and P/S ratio of 0.3. The dividend yield of Ford Motor Co stocks is 1.8%.
Here is the complete portfolio of David Tepper. Also check out:
1. David Tepper's Undervalued Stocks
2. David Tepper's Top Growth Companies, and
3. David Tepper's High Yield stocks
