Appaloosa LP (Tepper)
tepper, hedge-fund, active
Quarter Analysis
13F change notes for Appaloosa LP (Tepper) in 2015-09-30.
Q3-2015 was a profit-taking quarter for Appaloosa: book contracted $4.0B → $2.9B. Apple cut -48%, Priceline -57%, Google -47%, Goodyear -41% on +92% gain. Alibaba fully exited after 2 quarters (likely losses on the post-IPO weakness). New name: Southwest Airlines initiated 2.2%. HCA remains the top persistence holding (10 quarters, +104% unrealized, 9.6% weight). Reads as Tepper cleaning up after the August 2015 China-driven volatility and starting the rotation into airlines + energy that defines Q4.
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★ HELD
HCA HOLDINGS INC HCA
10 quarters held, +104% unrealized, 9.6% top weight — hospitals/managed-care anchor.
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▼ REDUCED
GOODYEAR TIRE & RUBR CO GT
Cut -41% on +92% gain — multi-quarter profit-taking on the post-2011 multi-bagger.
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▼ REDUCED
APPLE INC AAPL
Cut -48% — meaningful AAPL trim during the August-2015 volatility.
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▼ REDUCED
PRICELINE GRP INC
Cut -57% — travel-tech profit taking.
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▼ REDUCED
GOOGLE INC
Cut -47% before re-initiating GOOG in Q4 — a true tactical round trip.
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× EXIT
ALIBABA GROUP HLDG LTD
Closed after 2 quarters held — post-IPO BABA disposed during August-2015 China selloff.
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+ NEW
SOUTHWEST AIRLS CO LUV
New 2.2% — the first piece of the airline thesis that gets scaled in Q4.