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Friday, March 29, 2024

What David Tepper Bought And Sold In Q2: The Full Breakdown

Courtesy of ZeroHedge. View original post here.

Remember when several months ago the news that David Tepper disclosed that his Appaloosa bought a (tiny 100,000 share) take in Snapchat in Q1, sending the stock briefly higher, especially after he said that he would add more if the price fell below its IPO price of $17? Well, according to his just released 13F, he didn’t, and in fact has since dissolved his entire stake in the company that has since pivoted to dancing hotdogs.

That triviality aside, what was most notable about Tapper’s Q2 holdings is that in addition to boosting several key tech names, as well as opening a new $500+ million position in Alibaba, he took his total long equity holdings to just over $6.7 billion as of June 30, up from $6.1 billion at the end of March, the highest net long exposure since September 2014.

Here is a breakdown of the key position changes for Tepper as of March 31:

  • Top new positions: Alibaba, QQQ ETF, IBB ETF, Dollar General, Stryker, Energy Transfer Equity, L Brands, Wells Fargo, Cemex,
  • Top exits: Regions Financial, Pfizer, Mylan, Teva, Symantec, Charter, ArcelorMittal, United Continental, TerraForm, US Steel
  • Boosted stakes: Micron, Google, Western Digital, Facebook, Apple, United Rentals, Thermo Fisher, UnitedHealth Group, Delta Airlines
  • Cut stakes: Southwest, General Motors, Allergan, Kinder Morgan, Williams Partners, HCA, Nucor Steel, Boston Scientific, Mohawk Industries, PNC Financial

And the full visual summary: bold are additions; green are new positions; Red are exits.

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