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David Tepper Reduces General Motors, Allergan Positions, Exits Pfizer

The guru's 8 largest 2nd-quarter sales

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Aug 28, 2017
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Appaloosa Management founder 

David Tepper  (Trades, Portfolio) sold shares of the following stocks during the second quarter:

Tepper reduced his holding of Southwest Airlines Co. (

LUV, Financial) by 79.87% with an impact of -2.18% on the portfolio.

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The low-cost airline operates approximately 700 aircraft and specializes in short-haul flights and several international locations.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity (ROE) of 24.45% and return on assets (ROA) of 8.62% are outperforming 69% of companies in the Global Airlines industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 0.99 is above the industry median of 0.51.

The largest shareholder among the gurus is

PRIMECAP Management (Trades, Portfolio) with 0.12% of outstanding shares, followed by Warren Buffett (Trades, Portfolio) with 7.96%, Barrow, Hanley, Mewhinney & Strauss with 0.39%, the  T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.26% and Jim Simons (Trades, Portfolio) with 0.26%.

The guru exited his Regions Financial Corp. (

RF, Financial) position, impacting the portfolio -2.1%.

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The Alabama-based bank operates in three reportable segments: Corporate Bank, Consumer Bank and Wealth Management.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. While the ROE of 6.86% is underperforming the sector, the ROA of 0.98% is outperforming 54% of companies in the Global Banks - Regional - U.S. industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.56 is below the industry median of 2.09.

Richard Pzena (Trades, Portfolio) is the company's largest shareholder among the gurus with 1.67% of outstanding shares, followed by Hotchkis & Wiley with 0.41%, Simons with 0.22%, Michael Price (Trades, Portfolio) with 0.04% and Ken Fisher (Trades, Portfolio) with 0.03%.

Tepper's General Motors Co. (

GM, Financial) stake was reduced 63.33%, impacting the portfolio by -1.91%.

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The company manufactures and sells cars, trucks and automobile parts. It also provides automotive financing services.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of 19.84% and ROA of 3.96% are outperforming 56% of the companies in the Global Auto Manufacturers industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.29 is below the industry median of 0.59.

With 4.12% of outstanding shares, Buffett is the company's largest guru shareholder, followed by

David Einhorn (Trades, Portfolio) with 3.76%, Hotchkis & Wiley with 0.63% and Bill Nygren (Trades, Portfolio) with 0.47%.

The investor also closed his holding of Pfizer Inc. (

PFE, Financial) with an impact of -1.7% on the portfolio.

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The biopharmaceutical company manufactures health care products, including medicines, vaccines and other consumer health care products.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 13.84% and ROA of 4.88% are outperforming 54% of companies in the Global Drug Manufacturers - Major industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.33 is below the industry median of 2.05.

The company's largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 0.78% of outstanding shares, followed by Fisher with 0.57%,

Diamond Hill Capital (Trades, Portfolio) with 0.19%, the T Rowe Price Equity Income Fund with 0.17%, Lee Ainslie (Trades, Portfolio) with 0.17% and Pioneer Investments (Trades, Portfolio) with 0.16%.

Tepper reduced his Allergan PLC (

AGN, Financial) position by 14.56%. The transaction had an impact of -1.68% on the portfolio.

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The specialty pharmaceutical company produces brand name pharmaceutical products, medical aesthetics, biosimilar and over-the-counter pharmaceutical products.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of 14.82% and ROA of 9.08% are outperforming 74% of companies in the Global Drug Manufacturers - Specialty and Generic industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.19 is below the industry median of 2.05.

The 

Vanguard Health Care Fund (Trades, Portfolio) is the company's largest shareholder among the gurus with 3.42% of outstanding shares, followed by John Paulson (Trades, Portfolio) with 0.81%, Tepper with 0.75%, Seth Klarman (Trades, Portfolio) with 0.73%, Spiros Segalas (Trades, Portfolio) with 0.63% and John Griffin (Trades, Portfolio) with 0.43%.

Tepper divested of his Mylan NV (

MYL, Financial) holding. The transaction had an impact of -1.22% on the portfolio.

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The generic pharmaceutical manufacturer develops and produces generic, over-the-counter (OTC) products in a variety of dosage forms and therapeutic categories.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 5.72% and ROA of 1.95% are underperforming 60% of companies in the Global Drug Manufacturers - Specialty and Generic industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.05 is below the industry median of 2.05.

With 5.46% of outstanding shares, the Vanguard Health Care Fund is the company's largest guru shareholder, followed by Paulson with 2.97%, Pzena with 2.3%, Einhorn with 2% and

First Pacific Advisors (Trades, Portfolio) with 1.53%.

The investor exited his holding of Teva Pharmaceutical Industries Ltd. (

TEVA, Financial), impacting the portfolio by -1.15%.

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The pharmaceutical company produces generic and specialty medicines, including chemical and therapeutic medicines in a variety of dosage forms and central nervous system medicines.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of -19.13% and ROA of -6.89% are underperforming 69% of the companies in the Global Drug Manufacturers - Specialty and Generic industry. Financial strength has a rating of 3 out of 10. The cash-debt ratio of 0.02 is below the industry median 2.05.

Barrow, Hanley, Mewhinney & Strauss is the company's largest shareholder among the gurus with 2.95% of outstanding shares, followed by the Vanguard Health Care Fund with 1.57%, Paulson with 0.66%,

NWQ Managers (Trades, Portfolio) with 0.1%, Price with 0.07% and Julian Robertson (Trades, Portfolio) with 0.07%.

Tepper's Symantec Corp. (

SYMC, Financial) position was closed. The trade had an impact of -0.78% on the portfolio.

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The company provides secutiry and backup software solutions. Its products protect data across mobile devices, enterprise data centers and cloud-based systems.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The ROE of -10.13% and ROA of -2.36% are underperforming 69% of companies in the Global Software - Application industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.37 is below the industry median of 7.63.

The company's largest guru shareholder is

Steve Mandel (Trades, Portfolio) with 3.43% of outstanding shares followed by Simons with 0.79%, Steven Cohen (Trades, Portfolio) with 0.22%, John Buckingham (Trades, Portfolio) with 0.04% and Dodge & Cox with 0.03%.

Disclosure: I do not own any shares of any stocks mentioned in this article.

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