David Tepper Dumps 20% Of Financial Holdings During Quarter Of Infamous CNBC Speech

Tyler Durden's picture

Guess who, after on September 24 David Tepper almost screamed that he was "balls to the wall long" and EVERYTHING was about to go up on QE2, you were very likely buying shares Bank of America and Citigroup from? Why, David Tepper, that's who. In Tepper's just released Q3 13F, the Appaloosa fund manager disclosed that in the quarter ended September 30, one week after his pompous, self-serving speech on CNBC served as a reason to pump the market up by almost 2%, he sold 18% of his BofA holdings (his largest holding both at June 30 and September 30), 11% of Citi, 19% of Wells Fargo, 19% of Fifth Third, 19% of Capital One, 75% of his then $157 million Hartford Financial position, and lighten up on pretty much all of his other financial positions. And congratulations to CNBC for serving as the medium which David Tepper manipulated to his advantage and dump about 20% of his financial stake, which as of June 30 was his biggest, at 56% of total holdings.

Some of the new additions include Hewlett Packard, UAL, a Semiconductor ETF, Applied Materials, Yahoo and a whole lot of other tech. But most poetically, he also bought $157 million of Cisco. Oops.

Top 25 Appaloosa holdings as of September 30, together with change from Q2.

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themosmitsos's picture

German truth in advertising police have more teeth than SEC investigations

NOTW777's picture

in the old days this was a crime but now?

doolittlegeorge's picture

what "old days" are you referring to ?

alibabaandthefortythieves's picture

The old days like this clown refers to in how he manipulated markets.





Id fight Gandhi's picture

A self serving fund manager? No.

etrader's picture

RBS & Banco Santander could also be an  "Oops" with their pigs sovereign bond exposure.

AccreditedEYE's picture

But most poetically, he also bought $157 million of Cisco. Oops.

Your Bernanke Put didn't save you on that one, eh Davy boy? Nice!

doolittlegeorge's picture

so where's the poetry?  Now if you'd said "He thought he was ridin' with the Cisco Kid but instead was just following the Grateful Dead" then i'd be with ya'.

InsanePonziClown's picture

roflmao, he took down 45 million of etrade, lol............i guess he believed alot of trading would be done

Bill Lumbergh's picture

Now everyone is repeating those words from this sell-side "expert" as if risk is so yesterday...was it Goebbels who said that if you repeat a lie often enough people begin to believe?

nmewn's picture

Pump dem stocks up all day long...doo dah...doo dah.

espirit's picture

Yep, but now it's Tepurd!

Sean7k's picture

A little more advertising of this and maybe people will end this career, hopefully.

London Dude Trader's picture

All I can say is that I hate that hypocritical fuckhead with a vengeance. 

equity_momo's picture

Room on your team for 1 more?  We all knew he would be dumping stock after that interview , lying asshole that he is. 

Id like someone to remind him about his claim that at s+p 1K he will go "all in"

Because when we are back at s+p 1k , my bet is he will be dumping stock with shit running down the inside of his fat thighs like every other momo chasing sheep in the market whos suddenly lost their nerve.

RobotTrader's picture

Heh, Tepper is obviously one of the "old school" investors.

Too many stocks.

Too much diversification.

He's probably getting run over by the younger, nimbler ones who have their entire stash in just 5 stocks:






Bill Lumbergh's picture

You need to start listening to Cramerica for your investment strategy:


Earlier today I calculated the average P/E for those stocks is a little over 70.

Mmm...I love value.

Id fight Gandhi's picture

I still don't get cmg. 240 a share for high end fast food. At least mcd and yum have diversification outside of north america and some hedging in commodity prices.

As sanford used to say "and beans and disease to you!"

InsanePonziClown's picture

always check a stocks float, it only has 30 million shares, and no debt

Id fight Gandhi's picture

Yep, and margins less than yum and a pe of twice it.

Commodity prices will crush it since its mostly in the USA and Canada,

Hsy, df, kft,gis all getting pinched by the falling dollar and input costs.

obamaphobe's picture

The market cap of cmg puts each leased storefront fastfood restaurant at a value of $7,000,000.00.  You gotta sling a lot of burritos to make that fad business pencil. 

dark pools of soros's picture

grab some COSI...  i rode it from the 50's to over a buck..  great food - if they get their head out of their ass they'll shoot up

jeff montanye's picture

answer: peak chipotle (hat tip to daneric).

doolittlegeorge's picture

how 'bout a little "interest rate sensitivity" with that free money mother...truckers!

the rookie cynic's picture

David Tepper does not strike me as being very smart, nor trustworthy.  His interview was like a frat-boy talking smack. "Hey, I've got the world by the balls. Follow me boys."

Cdad's picture

That is exactly who and what Tepper is.  Search him, and it isn't hard to find the opinion trail.

The guy is typical scum, part of the never ending criminal syndicate known as Wall Street.

equity_momo's picture

Ex goldman , do the math.  He is part of the club and knows whats going to happen along time before mere mortals looking at fundamentals or technicals do. All you need when youre in that club is a phone.

treemagnet's picture

I remember watching that asshole and while being impressed by his record, couldn't help but wonder if he wasn't the expert in reading a credit induced bubble bull run economy that was basically dead at the date of his call.  Anybody right that long thats still not only swingin for the fence....but calling it.....is gonna go down hard.  And just like those fickle fans who love and hate you within the span of a pitch, his "loyal" investors will bail on him in even less time.  I remember watching him though....good performance.  The negative futures just fucking melted up as he spoke.  The heady, gregarious attitude oozed out of my tv speakers - I was pissed and calmed (knew his brand of bullshit) all at the same time.

Tyler Durden's picture

The affidavits will be very interesting. Certainly looking forward to any discovery involving Jeffrey Toll.

Fraud-Esq's picture

Now you're talking. We need a clearinghouse of all accessible discovery in BK's and civil fraud cases. public access. connect the dots.  

doolittlegeorge's picture

apparently being told "they're angry C-bass" isn't good enough.

Tyler Durden's picture

This is Epiq's free bankruptcy database. not all cases are here, but most.


GoldmanSux's picture

The prostitutes at CNBC did what they do best. Fuck viewers.

Bob's picture

I must be getting punch drunk--I couldn't help but laugh about that.  He's an Ivy League boy, I would guess? 

Dollar Bill Hiccup's picture

Plus ca change ...

Ah, nice to see some consistency again.

johngaltfla's picture

David Tepper rooked in the suckers and now went CRAMERICA on them....

It's an old wrasslin' move:

Hit them with a steel folding chair after they've bought into his bullcrap, then cut them with a razor, and as they lay on the mat crying laugh at them and scream:


carbon based unit's picture

soooo... david was selling 'us' BAC while john chambers was selling CSCO shares to him?



notadouche's picture

How was it the TBT went up.  I wrongly sold yesterday thinking the natural move would be down.

Misean's picture

Does he have to pay for those ads?

Fraud-Esq's picture


Fraud-Esq's picture

Tepper made his 2009 money off inside information, the legal kind - government inside. His old interview, he says it would have been illegal for the gov to nationalize the banks - WRONG. He bullshitted and gave them a bunch a reasons he was so sure...

The real reason? Likely a few phone calls. 


molecool's picture

Time for some torches and pitch forks...

max2205's picture


My crack lawyers will be right on it. Oh that's a web site



unum mountaineer's picture

bank failure friday anyone:

Regulators seized two small banks in Georgia and one in Arizona

drank a bottle of wine last night..made a switch to beer for the night..cheers

chindit13's picture

I didn't think Georgia had any banks left.  I'm going to check Ancestry.com to see if there was a General Sherman in Sheila Bair's background.