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Hedge Fund Appaloosa Management Buys Citigroup Inc., Newcastle Investment Corp., Microsoft Corp., Sells Regions Financial Corp., PHH Corp.

10qk

David Tepper of Appaloosa Management did it right in both ways. He was heavily in oil in the first half of 2008, and did not own any financials. Then in 2009, he got into financials quickly, and participate the upside. Now he is heavy with financials. This is his Q3 buys and sells.

David Tepper buys Citigroup Inc., The Hartford Financial Services Group In, Microsoft Corp., Bb&t Corp., Gramercy Capital Corp., Maguire Properties Inc., Strategic Hotels & Resorts Inc., Newcastle Investment Corp., sells Regions Financial Corp., Phh Corp. during the 3-months ended 09/30/2009, according to the most recent filings of his investment company, APPALOOSA MANAGEMENT LP. David Tepper owns 38 stocks with a total value of $2.6 billion. These are the details of the buys and sells.

For the details of David Tepper's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=David+Tepper

This is the sector weightings of his portfolio:

Financials

68.1%

Technology

3%

Consumer Services

2.5%

Consumer Goods

2.4%



These are the top 5 holdings of David Tepper

  1. Bank Of America Corp. (BAC) - 33,876,101 shares, 22.4% of the total portfolio

  2. Citigroup Inc. (C) - 79,741,067 shares, 15.08% of the total portfolio

  3. WELLS FARGO PFD L (WFC-PL) - 321,319 shares, 11.21% of the total portfolio

  4. Fifth Third Bancorp (FITB) - 24,370,199 shares, 9.65% of the total portfolio

  5. SunTrust Banks Inc. (STI) - 8,540,930 shares, 7.53% of the total portfolio


Added: Brunswick Corp. (BC)

David Tepper added to his holdings in Brunswick Corp. by 19.57%. His purchase prices were between $3.51 and $12.05, with an estimated average price of $7.61. The impact to his portfolio due to this purchase was 0.2%. His holdings were 2,675,436 shares as of 09/30/2009.

Brunswick Corporation is a manufacturer and marketer of leading consumer brands in four segments: Marine Engines, Boats, Fitness and Bowling & Billiards. The company also owns and operates: Brunswick bowling centers across the United States and internationally; Land 'N' Sea, a distributor of marine parts and accessories; and Omni Fitness, a chain of specialty fitness equipment retail stores. Brunswick Corp. has a market cap of $966.47 million; its shares were traded at around $10.95 with and P/S ratio of 0.21. The dividend yield of Brunswick Corp. stocks is 0.46%.

New Purchase: Citigroup Inc. (C)

David Tepper initiated holdings in Citigroup Inc.. His purchase prices were between $2.59 and $5.23, with an estimated average price of $3.85. The impact to his portfolio due to this purchase was 15.08%. His holdings were 79,741,067 shares as of 09/30/2009.

Citigroup Inc., the leading global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, and Banamex. Citigroup Inc. has a market cap of $96.03 billion; its shares were traded at around $4.2 with and P/S ratio of 1.82. Citigroup Inc. had an annual average earning growth of 5.1% over the past 10 years.

New Purchase: The Hartford Financial Services Group In (HIG)

David Tepper initiated holdings in The Hartford Financial Services Group In. His purchase prices were between $10.18 and $28.62, with an estimated average price of $18.92. The impact to his portfolio due to this purchase was 5.02%. His holdings were 4,848,973 shares as of 09/30/2009.

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. The company is a provider of automobile and homeowners coverages; commercial property and casualty insurance; reinsurance; and a variety of life insurance, investment products, employee benefits, group retirement plans and institutional liability funding products. The Hartford Financial Services Group In has a market cap of $8.2 billion; its shares were traded at around $25 with and P/S ratio of 0.89. The dividend yield of The Hartford Financial Services Group In stocks is 0.8%. The Hartford Financial Services Group In had an annual average earning growth of 7.2% over the past 10 years.

New Purchase: Microsoft Corp. (MSFT)

David Tepper initiated holdings in Microsoft Corp.. His purchase prices were between $22.39 and $25.94, with an estimated average price of $24.17. The impact to his portfolio due to this purchase was 3.02%. His holdings were 3,000,000 shares as of 09/30/2009.

Microsoft develops, manufactures, licenses, and supports a wide range of software products for a multitude of computing devices. Microsoft software includes scalable operating systems for servers, personal computers, and intelligent devices; server applications for client/server environments; knowledge worker productivity applications; and software development tools. The Company's online efforts include the MSN network of Internet products and services and alliances with companies involved with broadband access and various forms of digital interactivity. Microsoft Corp. has a market cap of $264.45 billion; its shares were traded at around $29.62 with a P/E ratio of 18.28 and P/S ratio of 4.53. The dividend yield of Microsoft Corp. stocks is 1.76%. Microsoft Corp. had an annual average earning growth of 10% over the past 10 years. GuruFocus rated Microsoft Corp. the business predictability rank of 4-star.

New Purchase: BB&T Corp. (BBT)

David Tepper initiated holdings in Bb&t Corp.. His purchase prices were between $20.19 and $29.25, with an estimated average price of $25. The impact to his portfolio due to this purchase was 2.13%. His holdings were 2,000,000 shares as of 09/30/2009.

BB&T Corporation is a multi-bank holding company. The company offers full-service commercial and retail banking and additional financial services such as insurance, corporate finance, international banking, leasing and trust. BB&T conducts its operations in North Carolina, South Carolina, Virginia, Maryland, Georgia, West Virginia, Kentucky and the metropolitan Washington, D.C. area. Bb&t Corp. has a market cap of $16.77 billion; its shares were traded at around $24.6 with a P/E ratio of 18.22 and P/S ratio of 1.61. The dividend yield of Bb&t Corp. stocks is 2.44%. Bb&t Corp. had an annual average earning growth of 6.5% over the past 10 years. GuruFocus rated Bb&t Corp. the business predictability rank of 4-star.

New Purchase: Gramercy Capital Corp. (GKK)

David Tepper initiated holdings in Gramercy Capital Corp.. His purchase prices were between $1.23 and $2.97, with an estimated average price of $1.63. The impact to his portfolio due to this purchase was 0.21%. His holdings were 2,198,495 shares as of 09/30/2009.

Gramercy Capital Corp. is a commercial real estate specialty finance company focused on originating and acquiring whole loans, subordinate interests in whole loans, mezzanine loans, and preferred equity interests in entities that own commercial real estate throughout the United States. Gramercy Capital Corp. has a market cap of $148.58 million; its shares were traded at around $2.98 with a P/E ratio of 1.14 and P/S ratio of 0.25.

New Purchase: Maguire Properties Inc. (MPG)

David Tepper initiated holdings in Maguire Properties Inc.. His purchase prices were between $0.53 and $2.7, with an estimated average price of $1.06. The impact to his portfolio due to this purchase was 0.19%. His holdings were 2,275,000 shares as of 09/30/2009.

Maguire Properties, Inc., a real estate investment trust (REIT), engages in the ownership, management, acquisition, and development of office and real estate properties primarily in California. The Company's impressive portfolio stands out with projects of exceptional quality that complement the surrounding area, provide a productive environment for its tenants' employees and improve the cities and communities in which they are located. Its core strategy is to own, manage, acquire and develop buildings of exceptional quality that provide attractive and productive environments for tenants and improve the cities in which they are located. As a full-service real estate company, Maguire offers a tightly integrated family of services, including development, finance, marketing, leasing and property management. The company is headquartered in Los Angeles, California. Maguire Properties Inc. has a market cap of $93.05 million; its shares were traded at around $1.94 with a P/E ratio of 8.43 and P/S ratio of 0.17. Maguire Properties Inc. had an annual average earning growth of 26.7% over the past 5 years.

New Purchase: Strategic Hotels & Resorts Inc. (BEE)

David Tepper initiated holdings in Strategic Hotels & Resorts Inc.. His purchase prices were between $0.98 and $2.75, with an estimated average price of $1.36. The impact to his portfolio due to this purchase was 0.12%. His holdings were 1,141,658 shares as of 09/30/2009.

STRATEGIC HOTELS & RESORTS, INC. is a real estate investment trust which owns and provides value-enhancing asset management of high-end hotels and resorts in the United States, Mexico and Europe. The company currently has ownership interests in 19 properties with an aggregate of 8,346 rooms Strategic Hotels & Resorts Inc. has a market cap of $126.28 million; its shares were traded at around $1.68 with a P/E ratio of 5.6 and P/S ratio of 0.13.

New Purchase: Newcastle Investment Corp. (NCT)

David Tepper initiated holdings in Newcastle Investment Corp.. His purchase prices were between $0.51 and $3.61, with an estimated average price of $1.28. The impact to his portfolio due to this purchase was 0.07%. His holdings were 564,957 shares as of 09/30/2009.

Newcastle Investment Corp invests in real estate securities and other real estate-related assets. Newcastle is organized and conducts its operations to qualify as a real estate investment trust for federal income tax purposes. Newcastle Investment Corp. has a market cap of $112.69 million; its shares were traded at around $2.13 with and P/S ratio of 0.24. Newcastle Investment Corp. had an annual average earning growth of 25.7% over the past 5 years.

Reduced: The Goodyear Tire & Rubber Company (GT)

David Tepper reduced to his holdings in The Goodyear Tire & Rubber Company by 30.98%. His sale prices were between $10.55 and $18.32, with an estimated average price of $15.7. The impact to his portfolio due to this sale was -0.33%. David Tepper still held 1,587,500 shares as of 09/30/2009.

Goodyear is one of the world's largest tire companies. The company manufactures tires, engineered rubber products and chemicals in facilities in numerous countries. It has marketing operations in almost every country around the world. (Company Press Release) The Goodyear Tire & Rubber Company has a market cap of $3.41 billion; its shares were traded at around $14.11 with and P/S ratio of 0.18. The Goodyear Tire & Rubber Company had an annual average earning growth of 23.3% over the past 5 years.

Reduced: E*trade Financial Corp. (ETFC)

David Tepper reduced to his holdings in E*trade Financial Corp. by 66.09%. His sale prices were between $1.18 and $1.99, with an estimated average price of $1.48. The impact to his portfolio due to this sale was -0.36%. David Tepper still held 7,913,573 shares as of 09/30/2009.

The E*TRADE FINANCIAL family of companies provide financial services including brokerage, banking and lending for retail, corporate and institutional customers. Securities products and services are offered by E*TRADE Securities LLC (Member NASD/SIPC). Bank and lending products and services are offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries. E*trade Financial Corp. has a market cap of $3.06 billion; its shares were traded at around $1.64 with and P/S ratio of 1.59. E*trade Financial Corp. had an annual average earning growth of 29.6% over the past 5 years.

Reduced: Bank Of America Corp. (BAC)

David Tepper reduced to his holdings in Bank Of America Corp. by 27.69%. His sale prices were between $11.84 and $17.98, with an estimated average price of $15.51. The impact to his portfolio due to this sale was -6.2%. David Tepper still held 33,876,101 shares as of 09/30/2009.

Bank of America Corp. is one of the world's leading financial services companies. Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose. Bank Of America Corp. has a market cap of $139.2 billion; its shares were traded at around $16.09 with a P/E ratio of 107.27 and P/S ratio of 1.91. The dividend yield of Bank Of America Corp. stocks is 0.25%. Bank Of America Corp. had an annual average earning growth of 7.5% over the past 10 years.

Sold Out: Phh Corp. (PHH)

David Tepper sold out his holdings in Phh Corp.. His sale prices were between $16.15 and $22.54, with an estimated average price of $19.72.

PHH Corp is a leading outsource provider of mortgage and vehicle fleet management services. It is the sixth largest retail originator of residential mortgages in the United States and the second largest fleet management services provider in the United States and Canada. Phh Corp. has a market cap of $760.57 million; its shares were traded at around $13.95 with and P/S ratio of 0.37.

Sold Out: Regions Financial Corp. (RF)

David Tepper sold out his holdings in Regions Financial Corp.. His sale prices were between $3.42 and $6.81, with an estimated average price of $5.02.

Regions Financial Corporation is a regional bank holding company and hasbanking-related subsidiaries engaged in mortgage banking, credit life insurance, leasing, and securities brokerage activities with offices in various Southeastern states. Through its subsidiaries, Regions offers a broad range of banking and banking-related services. Regions Financial Corp. has a market cap of $6.48 billion; its shares were traded at around $5.45 with and P/S ratio of 0.67. The dividend yield of Regions Financial Corp. stocks is 0.73%. Regions Financial Corp. had an annual average earning growth of 1.2% over the past 10 years.


Rating: 3.3/5 (15 votes)

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