Over a 40+ year career on Wall Street, David Tepper has built a fortune estimated at $23.7 billion, mainly by making aggressive, concentrated wagers. First, he focused on the distressed debt market, building his Appaloosa Management into one of the largest and most successful hedge funds and earning him billions in the process.
Now, Appaloosa primarily manages Tepper's personal fortune. Instead of distressed debt, Tepper now mainly invests in large-cap tech stocks, most notably Amazon (NASDAQ: AMZN). According to Appaloosa's latest 13-F filing with the Securities and Exchange Commission (SEC), Tepper has around 16% of his nearly $7.5 billion stock portfolio invested in this "Magnificent Seven" stock.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
During the quarter ending June 30, Tepper's Appaloosa increased its position in Amazon by 680,000 shares, or just under 15.8%. During this same time frame, Appaloosa reduced its Micron position by 41.4% and exited its Sandisk position entirely. The fund also increased its positions in Alphabet and Meta Platforms by 6.7% and 54.6%, respectively.
This strongly suggests a cycling out of "pick-and-shovel" artificial intelligence (AI) plays, into hyperscaler stocks. Tepper's fund may have made an aggressive pivot toward Facebook and Instagram parent Meta Platforms, but given that Meta accounts for only 5.1% of the overall portfolio, Amazon seems to remain the investor's highest-conviction bet on the AI growth trend.
#tepper #amazon #NVIDIA
Now, Appaloosa primarily manages Tepper's personal fortune. Instead of distressed debt, Tepper now mainly invests in large-cap tech stocks, most notably Amazon (NASDAQ: AMZN). According to Appaloosa's latest 13-F filing with the Securities and Exchange Commission (SEC), Tepper has around 16% of his nearly $7.5 billion stock portfolio invested in this "Magnificent Seven" stock.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
During the quarter ending June 30, Tepper's Appaloosa increased its position in Amazon by 680,000 shares, or just under 15.8%. During this same time frame, Appaloosa reduced its Micron position by 41.4% and exited its Sandisk position entirely. The fund also increased its positions in Alphabet and Meta Platforms by 6.7% and 54.6%, respectively.
This strongly suggests a cycling out of "pick-and-shovel" artificial intelligence (AI) plays, into hyperscaler stocks. Tepper's fund may have made an aggressive pivot toward Facebook and Instagram parent Meta Platforms, but given that Meta accounts for only 5.1% of the overall portfolio, Amazon seems to remain the investor's highest-conviction bet on the AI growth trend.
#tepper #amazon #NVIDIA
11 days ago
