+ 0.00
+ 0%
+ 0.05
+ 0.01%
+ 0.00
+ 0%

David Tepper Dumps Google, But Loves General Motors And Apple

August 18, 2015 3:16 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

David Tepper’s Appaloosa Management’s equity portfolio is losing. Over the second quarter of the year, its market value fell from $5.7 billion to $4.03 billion. Despite this, knowing what Tepper is investing in might provide some interesting research-backed ideas.

Over the quarter, the fund started three new stock positions, sold out of another seven, increased its stakes in six companies, and trimmed them in another 14. In terms of allocation:

  • 38 percent of the portfolio’s assets were allocated to consumer discretionary stocks
  • 19 percent to information technology
  • 15 percent to industrials
  • 11 percent to healthcare
  • 9 percent to transportation stocks
  • 7 percent to materials
  • Less than 1 percent to finance stocks

The firm’s largest bet was placed on General Motors Company (NYSE: GM), which rose from second place in Appaloosa’s first quarter list after the fund boosted its stake by 22 percent over the second quarter. It now owns 18,796,165 shares of the automaker, worth roughly $626 million, which make it one of the top 15 institutional investors in the company.

Another company that felt Tepper’s bullishness is Apple Inc. (NASDAQ: AAPL). Over the second quarter, the fund started a new position, comprising 2,518,167 shares of the tech behemoth, worth more than $315 million. Apple is now third in Appaloosa’s list, only trailing General Motors and HCA Holdings Inc (NYSE: HCA).

Related Link: Beyond Netflix: Carl Icahn's Q2 Moves Included Icahn Enterprises, Gannett & Cheniere Energy

Tepper seems bullish on Google Inc (NASDAQ: GOOGL) (NASDAQ: GOOG). Between April and June, the fund sold all of its 342,437 GOOGL shares, and disposed of 14 percent of its GOOG shares. It now holds 349,055 GOOG shares, worth roughly $181 million.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.

Related Articles

Benzinga's Bulls And Bears Of The Week: Apple, Home Depot, Nio, ViacomCBS And More

Benzinga has examined the prospects for many investor favorite stocks over the past week. The past week's bullish calls included a new Warren Buffett stake and a big-box retailer. read more

Warren Buffett Says Berkshire's Apple Investment Shows The 'Power Of Repurchases'

Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) CEO Warren Buffett over the weekend read more

Warren Buffett's Berkshire Bets On These Four Drugmakers Amid Pandemic

Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) Chairman Warren Buffett has invested in four large drugmakers as the world faces yet another wave of the raging COVID-19 pandemic. read more

How To Invest Like Warren Buffett

Warren Buffett is considered one of the greatest investors of all time because of the strong returns the “Oracle of Omaha” has generated for his company Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) over the years. read more