Appaloosa

Q4 2019 13F · by David Tepper, portfolio manager

As of: Dec 31, 2019
Filed: Feb 14, 2020
US stock: $3.9B · prev $3.4B
Positions: 22 · prev 24
Options notional: $0
Documents: 1· no amendments

Picture99.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 99.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 1.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves18 since the prior filing

+12.9 pp in · −11.5 pp out

New 2 +0.58 pp
Added 6 +12.33 pp
Trimmed 6 −2.25 pp
Exited 4 −9.26 pp

The book

Very concentrated · behaves like 10 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 35% a year, about 2.9 years per position

Low
Moderate
High

Top 5 positions67% of US stock

GOOG Alphabet Inc. Class C trimmed−1.13 pp trimmed−1.1314.9%
META Meta Platforms, Inc. Class A held held14.7%
AMZN Amazon.Com Inc added+0.06 pp added+0.0613.7%
BABA Alibaba Group Holding Limited added+6.48 pp added+6.4812.9%
MU Micron Technology, Inc. added+3.44 pp added+3.4411.1%

Positions22 in this filing · 4 exited


GOOGAlphabet Inc. Class C	14.92%	440,000	$588M	trimmed−1%	−1.13 pp	23 q
METAMeta Platforms, Inc. Class A	14.71%	2,825,000	$580M	held	—	14 q
AMZNAmazon.Com Inc	13.67%	291,500	$539M	added+10%	+0.06 pp	4 q
BABAAlibaba Group Holding Limited	12.91%	2,400,000	$509M	added+85%	+6.48 pp	2 q
MUMicron Technology, Inc.	11.05%	8,100,000	$436M	added+35%	+3.44 pp	13 q
ACTAllergan PLC	6.28%	1,295,000	$248M	held	—	17 q
PCGPG&E Corporation	4.80%	17,400,000	$189M	trimmed−4%	−0.56 pp	9 q
ETEnergy Transfer LP	3.66%	11,231,053	$144M	added+92%	+1.39 pp	11 q
CZRCaesars Entertainment, Inc.	3.47%	10,050,000	$137M	trimmed−10%	−0.39 pp	9 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	2.24%	300,000	$88M	added+20%	+0.63 pp	12 q
AVGOBroadcom Inc.	2.20%	275,000	$87M	trimmed−0%	−0.05 pp	2 q
CRMSalesforce, Inc.	2.06%	500,000	$81M	held	—	4 q
ADBEAdobe Inc.	2.01%	240,000	$79M	added+17%	+0.33 pp	4 q
AMLPAlerian MLP ETF	1.41%	6,550,000	$56M	held	—	5 q
TMUST-Mobile US, Inc.	1.39%	700,000	$55M	held	—	9 q
VSTVistra Corp.	1.00%	1,719,100	$40M	held	—	7 q
HUMHumana Inc.	0.70%	75,000	$27M	held	—	3 q
LNGCheniere Energy Inc	0.64%	410,000	$25M	held	—	9 q
IIntelsat SA	0.51%	2,885,019	$20M	new	+0.51 pp	new
CWENClearway Energy, Inc. Class C	0.22%	443,295	$9M	trimmed−26%	−0.10 pp	4 q
Broadcom Incconvertible	0.07%	2,500	$3M	new	+0.07 pp	new
NY4BClearway Energy Inc-a	0.07%	136,462	$3M	trimmed−22%	−0.02 pp	4 q
AABAAltaba Inc.	—	−13,838,684	—	exited	−7.98 pp	—
XOPState Street SPDR S&P Oil & Gas Exploration & Production ETF	—	−1,100,000	—	exited	−0.73 pp	—
BABoeing Company	—	−30,000	—	exited	−0.34 pp	—
COOPMr. Cooper Group Inc.	—	−652,500	—	exited	−0.21 pp	—

Other 13(f) securities

Options 0

None in this filing

Notes 1

Issue	% of notes	Principal	Value
Caesars Holdings Inc	100.00%	20,000,000	$39M

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001656456-20-000001
Options: none in this filing
SEC cross-check: SEC data set not published yet

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