Insights from Appaloosa Management's Latest 13F Filing
David Alan Tepper, the esteemed founder of Appaloosa Management, has once again made headlines with his latest 13F filing for the second quarter of 2024. Known for his sharp investment acumen, Tepper's strategies often reflect his deep understanding of market dynamics, honed over years of experience since his early days in Pittsburgh. Appaloosa Management, based in Miami Beach, Florida, is renowned for its focus on public equity and fixed income markets globally, with a particular expertise in distressed debt investing.
Portfolio Adjustments and Key Increases
During the second quarter, David Tepper (Trades, Portfolio) made significant adjustments to his portfolio, including increasing his stakes in 9 stocks. Notably, Tepper's investment in Lyft Inc (LYFT, Financial) surged by 1,602.51%, with an additional 7,493,639 shares, bringing the total to 7,961,257 shares. This move had a 1.71% impact on his current portfolio, valued at approximately $112,253,720. Another significant increase was in KraneShares CSI China Internet ETF (KWEB, Financial), where he added 1,015,000 shares, resulting in a 29.21% increase in share count and a total value of $121,319,800.
Strategic Exits
Tepper's strategy also included complete exits from certain holdings. Notably, he sold all 45,000 shares of Norfolk Southern Corp (NSC, Financial), which impacted the portfolio by -0.17%.
Significant Reductions
Tepper's portfolio adjustments included reducing positions in 26 stocks. The most significant reduction was in NVIDIA Corp (NVDA, Financial), where he cut his holdings by 3,730,000 shares, marking an 84.39% decrease. This reduction had a -4.99% impact on the portfolio. During the quarter, NVIDIA's stock traded at an average price of $101.1, returning 29.19% over the past three months and 138.34% year-to-date. Another major reduction was in Microsoft Corp (MSFT, Financial), with a 15.62% decrease in shares, impacting the portfolio by -1.36%.
Portfolio Overview and Sector Focus
As of the second quarter of 2024, David Tepper (Trades, Portfolio)'s portfolio comprised 37 stocks. The top holdings included 12.24% in Alibaba Group Holding Ltd (BABA, Financial), 10.87% in Amazon.com Inc (AMZN, Financial), 8.55% in Microsoft Corp (MSFT, Financial), 7.63% in Meta Platforms Inc (META, Financial), and 5.72% in Alphabet Inc (GOOG, Financial). The investments are primarily concentrated across seven industries: Technology, Consumer Cyclical, Communication Services, Energy, Industrials, Healthcare, and Real Estate.
This detailed analysis of David Tepper (Trades, Portfolio)'s latest 13F filing highlights his strategic investment decisions, reflecting both his bullish and cautious stances in various sectors. As markets continue to evolve, Tepper's moves offer valuable insights for investors looking to understand the complexities of portfolio management in today's economic environment.
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.
