Prominent investor David Tepper (Trades, Portfolio) started three substantial new holdings at his hedge fund, Appaloosa Management, in the second quarter. Tepper’s team manages about $20 billion.
Tepper’s portfolio listed 35 positions valued at $4.04 billion at quarter-end. Consumer Cyclical stocks represented his largest sector weighting, at 35.8%, followed by Technology at 21.1% and Industrials at 16.9%. The portfolio showed significant quarter-over-quarter turnover of 17%.
Tepper’s three new second-quarter stocks were: Apple Inc. (AAPL, Financial), Alibaba Group Holding Ltd. (BABA, Financial) and Mylan NV (MYL, Financial).
Tepper purchased 2,518,167 shares of Apple Inc., a stock he sold out of in the fourth quarter of 2014. The new position has a larger 7.82% portfolio weight, ranking it as his third-largest position. Apple shares cost $128 each on average in the second quarter.
Apple Inc. is a California corporation established in 1977. Apple Inc. has a market cap of $661.29 billion; its shares were traded at around $115.96 with a P/E ratio of 13.38 and P/S ratio of 3.02. The dividend yield of Apple Inc. stocks is 1.72%. Apple Inc. had an annual average earnings growth of 58.00% over the past 10 years. GuruFocus rated Apple Inc. the business predictability rank of 4.5-star.
Alibaba Group Holding Ltd. (BABA, Financial)
Tepper purchased 1.36 million shares of Alibaba Group Holding Ltd., a 2.77% portfolio weight. The stock’s average price was $86 per share for the quarter.
Alibaba Group Holding Ltd. was incorporated in the Cayman Islands on June 28, 1999. Alibaba Group Holding Ltd. has a market cap of $186.56 billion; its shares were traded at around $74.76 with a P/E ratio of 47.15 and P/S ratio of 14.78. Alibaba Group Holding Ltd. had an annual average earnings growth of 127% over the past five years.
Tepper purchased 989,528 shares of Mylan NV, a 1.66% portfolio weight. The shares cost $71 on average in the second quarter.
Mylan NV was incorporated in Pennsylvania in 1970. Mylan NV has a market cap of $26.72 billion; its shares were traded at around $54.36 with a P/E ratio of 24.88 and P/S ratio of 2.85. Mylan NV had an annual average earnings growth of 12.4% over the past 10 years. GuruFocus rated Mylan NV the business predictability rank of 2.5-star.
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