The portfolio of a hedge fund run by a highly-successful billionaire, who is closely monitored and successful in his own right, has undergone major changes.
David Tepper is the president and founder of Appaloosa Management. According to a new SEC filing, he has sold UnitedHealth, Intel, Alibaba, Vistra, Micron, and Micron.
Tepper cut UNH in half, left INTC, reduced BABA to 9%, lowered VST to 31%, and reduced MU from 39%.
In a contrarian move, Tepper invested $411,000,000 in Whirlpool, increasing its shares from 266,000 up to 5.5 millions.
Appaloosa, which has a $7.38 billion market cap, now places the appliance company at third place with a 5.85% share.
Tepper has also acquired stakes in regional banks like Truist TFC and Western Alliance WAL, as well as old economy names such Goodyear Tire GT.
Tepper is known for his opportunistic approach, which involves betting on undervalued commodities during a time of tech declines.
The firm’s portfolio value grew 14% quarter-over-quarter, and its top holdings remain Alibaba (BABA) at 15.6%, Amazon (AMZN) at 7.4%, and Nvidia (NVDA) at 4.8%.
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Sources of Images include Pixabay Creative Commons & Midjourney
As new information becomes available, this post David Tepper pours $411,000,000 into Contrarian Asset after Dumping Tech, Health, and AI Stocks could be updated.
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