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David Tepper Unwinds S&P, Nasdaq Calls; Liquidates QCOM, JPM; Adds To AAL, GM: Full 13F

Tyler Durden's picture




 

For everyone curious how the market's favorite "balls to the wall" barometer did in the second quarter (which ended 45 days ago), here is the full breakdown.

First the notable liquidations: in the three months ended June 30, Tepper closed his SPY and QQQ Call positions, which had a total notional equivalent of over $1.5 billion, as well as liquidating his stakes in QCOM, JPM, Metlife, Trinity, Delphi, Hess, Valmont, Ingersoll-Rand, Omincom and Beazer.

Tepper entered new positions in Mohawk, Weatherford and Ryland Group.

He added to his existing stakes in AAL, GM, PCLN which are three of his top 5 positions, while reducing his position in Citi (3rd largest position) and adding to a consolidated GOOG position (post split), which if combined between the A and C classes represents over $600 million in AUM and is his largest position as of the end of Q2.

He reduced his SPY and QQQ ETF exposure significantly, by $640 million and $514 million, respectively, while allocating to single names.

It appears that indeed Tepper indeed was undergoing some "nervous time" when it comes to the market, and going single names, which ironically has been the wrong trade in a market where the indices are near all time highs, while individuals stocks mysteriously continue to decline.

In total, Tepper represented a long-only AUM of $7.1 billion at the end of Q2, compared to $9.1 billion three months earlier, however as noted above, the bulk of this unwinds is due to the closing of his S&P and QQQ calls.

The full brekadown of Tepper's Q2 13F and its change vs Q1 is shown below.

 

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Thu, 08/14/2014 - 17:11 | 5094242 GrinandBearit
GrinandBearit's picture

Bullish, no doubt.

Thu, 08/14/2014 - 17:12 | 5094243 erkme73
erkme73's picture

This is all very good and interesting, but I need my fear-porn dose of "Ebola pandemic is enevitable" story... Jonesing hard!

Thu, 08/14/2014 - 17:15 | 5094248 negative rates
negative rates's picture

Good cause yer gonna need somebody to buy that automotive junk.

Thu, 08/14/2014 - 17:17 | 5094260 max2205
max2205's picture

His divorce cost him around 5 billion or something like that

Thu, 08/14/2014 - 17:41 | 5094343 Spitzer
Spitzer's picture

He will be the next one that they find floating dead on a yacht with a heroine hooker. I hope so anyway..

Thu, 08/14/2014 - 18:06 | 5094488 Amish Hacker
Amish Hacker's picture

Or a nasty nail gun accident while remodeling that little place in the Hamptons.

Thu, 08/14/2014 - 18:47 | 5094657 Save_America1st
Save_America1st's picture

well gee, how great for him...

And I'm sure he has absolutely no high level insider information that he pays very well for and trades by either.

 

Thu, 08/14/2014 - 18:17 | 5094510 Squid Viscous
Squid Viscous's picture

Was she hot at least? probably a nasty looking kike from Nassau County/Five Towns or maybe Scarsdale

Thu, 08/14/2014 - 18:43 | 5094649 Thirtyseven
Thirtyseven's picture

I logged in just to upvote your comment.

Thu, 08/14/2014 - 22:21 | 5095596 dellievan
dellievan's picture

That forehead ! ! truely alien !

Thu, 08/14/2014 - 17:20 | 5094258 nope-1004
nope-1004's picture

AAL, FB, and GM.... no Fed intervention there.  Proof this guy is riding the manipulation train.

 

 

Thu, 08/14/2014 - 17:23 | 5094283 Rainman
Rainman's picture

Nice unload play he made on MetLife . They've got a billion invested in Russia and Ukraine.

http://www.bloomberg.com/news/2014-07-22/u-s-said-poised-to-designate-metlife-as-systemically-important.html

Thu, 08/14/2014 - 17:43 | 5094357 Spitzer
Spitzer's picture

Probably just a lucky coincidence

Monkey meet dartboard.

Thu, 08/14/2014 - 17:14 | 5094246 jcaz
jcaz's picture

Ah, another index fund,,,,,,,

Thu, 08/14/2014 - 17:15 | 5094253 Soldfinger
Soldfinger's picture

1.23% gross performance in Q3? 

Thu, 08/14/2014 - 17:21 | 5094275 nope-1004
nope-1004's picture

q2

Thu, 08/14/2014 - 17:18 | 5094262 buzzsaw99
buzzsaw99's picture

real happy for that maggot [/sarc]

Thu, 08/14/2014 - 17:25 | 5094289 Spungo
Spungo's picture

IIRC, the single biggest predictor of fund manager performance is whether or not they are getting divorced. 

Thu, 08/14/2014 - 17:32 | 5094312 walküre
walküre's picture

Good to know it's not just me...

in a market where the indices are near all time highs, while individuals stocks mysteriously continue to decline.

BTFD or "cherie picking" is just a strategy for someone else to get your money.

It's a bullshit market and there's no trend that either could or would be your friend.

If I managed billions in a portfolio, I'm sure I could move mountains too.

Big deal.

Thu, 08/14/2014 - 17:38 | 5094322 Squid Viscous
Squid Viscous's picture

what a smug dickwad...

seriously, GM, Ford, GT, Citi, Hal, and an assload of airlines, QQQ's and SPY's?? - amazing that people would would pay 2/20 (or maybe more?) for his "portfolio management"...

Thu, 08/14/2014 - 17:41 | 5094342 emersonreturn
emersonreturn's picture

is this the same weatherford rosneft bought a tid bit from?

Thu, 08/14/2014 - 17:45 | 5094362 Spitzer
Spitzer's picture

We call in Weatherfraud here in Alberta. But yeah, Id imagine so

Thu, 08/14/2014 - 17:52 | 5094405 emersonreturn
emersonreturn's picture

thank you spitzer.  rosneft bought in early august swiss weatherford's oil field assets.  what that entails though i'm not at all sure.

Thu, 08/14/2014 - 18:48 | 5094669 Fuku Ben
Fuku Ben's picture

Comrades, your headlines read like an old Soviet 5 year plan. My rates are cheap for custom headlines. 1 troy ounce .999 fine gold bullion per day in advance. Free sample below.

Tepper Tapers

Thu, 08/14/2014 - 22:12 | 5095548 LooseLee
LooseLee's picture

David Tepper: Insider PINKO COMMIE and Traitor against FREE MARKETS and The Idea of AMERICA!

Do NOT follow this link or you will be banned from the site!