David Tepper's Strategic Moves in Q3 2024 Highlight PDD Holdings Inc's Prominent Position

GuruFocus11-15 10:23

Insight into Appaloosa Management's Latest Portfolio Adjustments David Alan Tepper, the esteemed founder of Appaloosa Management, has once again made notable adjustments to his investment portfolio in...

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Known for his keen market insights and high returns, Tepper's latest 13F filing reveals strategic buys, significant increases, complete sell-offs, and reductions across various sectors. Appaloosa Management, based in Miami Beach, Florida, is renowned for its focus on public equity and fixed income markets globally, with a particular expertise in distressed debt.New Additions to the Portfolio David Tepper (Trades, Portfolio) introduced four new stocks to his portfolio this quarter:\nVistra Corp (VST, Financial) leads as the top new entry with 1,270,388 shares, making up 2.24% of the portfolio, valued at $150.59 million.NRG Energy Inc (NRG, Financial) follows with 999,820 shares, accounting for approximately 1.35% of the portfolio, totaling $91.08 million.Las Vegas Sands Corp (LVS, Financial) was also added with 1,528,323 shares, representing 1.14% of the portfolio, valued at $76.94 million. Significant Increases in Existing Positions Tepper has also aggressively increased his stakes in several companies:\nPDD Holdings Inc (PDD, Financial) saw the most substantial increase, with an additional 3,361,132 shares, bringing the total to 5,301,132 shares. This adjustment marks a 173.25% increase in share count and a 6.73% impact on the current portfolio, valued at $714.65 million.JD.com Inc (JD, Financial) also experienced a significant boost with an additional 2,989,400 shares, bringing the total to 7,300,000 shares, valued at $292 million. Complete Sell-Offs During this quarter, Tepper decided to exit positions entirely in three companies:\nUnited Parcel Service Inc (UPS, Financial) was completely sold off with all 605,000 shares, impacting the portfolio by -1.34%.Boeing Co (BA, Financial) also saw a complete liquidation of 210,000 shares, causing a -0.62% impact on the portfolio. Reductions in Key Holdings Reductions were made in several significant positions:\nMeta Platforms Inc (META, Financial) was reduced by 310,000 shares, resulting in a -33.16% decrease in shares and a -2.53% impact on the portfolio. The stock traded at an average price of $514.55 during the quarter and has returned 9.67% over the past three months and 63.55% year-to-date.Microsoft Corp (MSFT, Financial) saw a reduction of 211,356 shares, marking a -17.89% reduction in shares and a -1.53% impact on the portfolio. The stock traded at an average price of $427.47 during the quarter and has returned 2.59% over the past three months and 14.14% year-to-date. Portfolio Overview and Sector Focus As of the third quarter of 2024, David Tepper (Trades, Portfolio)'s portfolio comprises 38 stocks. The top holdings include 15.76% in Alibaba Group Holding Ltd (BABA, Financial), 10.62% in PDD Holdings Inc (PDD, Financial), 8.86% in Amazon.com Inc (AMZN, Financial), 6.2% in Microsoft Corp (MSFT), and 5.31% in Meta Platforms Inc (META). The investments are primarily concentrated across eight industries: Consumer Cyclical, Technology, Communication Services, Energy, Utilities, Healthcare, Industrials, and Real Estate.This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483395905"}