Tepper Dumps Entire Apple Stake, Doubles Down On Top Holding Micron: 13F Summary

As Warren Buffett was busy buying every share of Apple he could find in Q1, another hedge fund legend was selling: according to the latest Appaloosa 13F, one of the few positions that David Tepper liquidated in the first quarter was Apple, selling his entire stake of 4.588 million shares, worth roughly $776MM, during the first 3 months of the year (along with EEM, CMCSA, MHK, VST, CSX and LUV).

While there were few changes among Tepper's top holdings, it is notable that Appaloosa aggressively added to its Micron stake, adding nearly 8 million shares to its existing 27.5 million, for a grand total of 35.4 million shares as of March 31, equivalent to $1.85BN, making Micron Tepper's top position in the quarter. This was followed by Facebook at just under $1BN, Alibaba, at $743MM, Allergan at $622MM, Altaba at $594MM and Google at $419MM: yes, one more "hedge" fund that is really just a high beta "growth" and tech fund.

Not surprisingly, therefore, the biggest new addition was Lam Research, at 1.3 million shares, followed by new positions in Wells Fargo (2.9MM shares), UBS (7MM shares), Applied Materials (1.57MM), SMH, AMLP, KNX, BYD, PAH and UAL.

In addition to nearly doubling his stake in MU, Tepper also added to his stakes in MGM, AGN, CNC, GOOG, LNG, DG, OC and PCG; at the same time Appaloosa cut exposure to QQQ, XLF, BAC, URI, NRG, WPZ, ETP, ALL and HCA.

Finally, in addition to dumping his entire AAPL stake, Tepper also liquidated holdings in EEM, CMCSA, MHK, VST, CSX and LUV.

A table summarizing all of Tepper's key moves in Q1 is shown below.

 

 

Comments

RubberJohnny Tue, 05/15/2018 - 18:32 Permalink

Jews run the show.

Bibi and Trump are planning a sleep over.

Bezos is upset.

Schwartz is p'od

Bolton is marching us off to war.

Blankfein is squeezing your balls.

Having fun yet?

Yen Cross Tue, 05/15/2018 - 18:34 Permalink

 Gawd these guys are unbelievably narcissistic.

  Tepper is running a life raft fund...

   I'll bet his trading desk retires inside of six months<>

Aliens-R-Us Tue, 05/15/2018 - 18:41 Permalink

Very minor gnat under the heels of the real men running things.  And those guys are not known, never in the news and never will be.  Only assholes like this bozo are in the news.

Endgame Napoleon Aliens-R-Us Tue, 05/15/2018 - 19:10 Permalink

You mean the technical people? I read something on a tech blog, suggesting that Apple might return to a more customizable product, letting the techies add RAM if they choose and all of that, like they originally did. They seem to be going back to their Jobs’ roots. They might be afraid of losing too many hardcore nerds to Linux. Maybe, they can should hire Woz back to head their technical department. 

In reply to by Aliens-R-Us

cheech_wizard Tue, 05/15/2018 - 18:44 Permalink

ROTFLMAO...

https://www.marketwatch.com/story/micron-stock-gains-after-stifel-raise…

From $95 to $101? Seriously? All I need to do is write a single e-mail to an ex-co-worker and I'll know all I need to know about Micron. I'm sure he's still pretty fucking happy about his choice to work there seeing as he started back in the 2008/2009 time frame when the stock was dirt cheap. (Not to mention it got him away from his wife who was driving him bat-shit crazy by constantly dragging over her women friends a dozen at a time.)

M O B cheech_wizard Tue, 05/15/2018 - 22:13 Permalink

MU is heavily cyclical and it is late cycle for RAM and DRAM. I don't understand going all in on MU after they rally 200% in the previous 16 months.

You buy MU when 32GBs of whatever the current RAM is $200 or less. You sell at $300+. Their manufacturing costs are the same in both scenarios. MU has been a sell all this year.

In reply to by cheech_wizard

Yen Cross Tue, 05/15/2018 - 19:07 Permalink

  I wonder how many people understand what that "New Car Smell" means.

 All those plastic and fake leather components, "curing" and giving off toxic gas.

  That's pretty much where we're residing, in the current economic cycle.

  I see lots of double bottoms and tops, potentially being confirmed/

CashMcCall Yen Cross Tue, 05/15/2018 - 22:00 Permalink

Silly analogy. The semiconductor bet is a bet on Asia, consumer products, big data, servers, arm devices, etc etc. Trump's moronic trade wars have created an opportunity to buy into these leading firms. 

Most US semiconductor firms left for the exist for Asia over Obamacare and won't be back. China has set up an elaborate and huge system of foundries on their Semiconductor University campuses. Your kids are living in the basement with their gender studies degrees. 

Further, China has been on a tear recruiting White Nerd engineers who can't get a job in DIVERSITY MERICA... That is how China is taking the lead in Quantum computing, handheld, and AMR devices. Nerds live like kings in China. 

The new car smell is the phenol resins that encapsulate the future. As an investor, I am betting big on China as the USA seems hellbent on becoming more European and lazier by the minute. 

In the end it is all about work ethic. When the Transcontinental Railway was built, a buffalo scout historian wrote the Chinese would have to leave America after the railway was completed. His reasoning was that the Chinese worker worked all day from morning to night, ate very little, slung the largest hammers, were lean of muscle and sinew. He posited that they would never fit into the lazier American culture. 

It is only a matter of time before the more mentally fit and productively motivated take control of the global economy, without emotion, as perfect capitalist. You can have your Socialism and your "black talking" kids in the basement as your future bellyaching at you for withholding their basement bandwidth.  

 

 

In reply to by Yen Cross

Fiscal Smegma Tue, 05/15/2018 - 21:07 Permalink

Jews are Gods chosen people to reveal himself to mankind. So deal with it. They could have been nappy headed weed smoking rastafarians but thankfully not so STFU and be grateful Jews actually work and are not lazy ass niggers on welfare.. You fucking idiots think about it for once..

 

CashMcCall Fiscal Smegma Tue, 05/15/2018 - 21:39 Permalink

Zionists are essentially pricks. They come in two flavors... Jewbaits and Religous Right NEOCON knuckleheads.

Now you have the nutty Religious Right and their crazy end-time fantasies where Christ comes back as a NEOCON blows the earth to pieces. This impresses the chosen people enough to believe in the Messiah as they do in the Anti-christ Trump...  who is here to erect the third Temple for his daughter Ivanka and Son of a crook Kushner so the animal sacrifices can begin anew. 

Zionist jews and the Religious Right NEOCON lunatics will eventually be crushed by ASIA and this filthy saga of killing humans [human animal sacrifices] in the name of religion will end. 

Be aware nitwit that nearly 70% of all Jews in America and all US Citizens oppose Trump's Religious Right unilateral move of the US Embassy to Jersuleum and oppose the Trump military base being built in Israel. This garbage is all the Religious Right lunatic NEOCON dickwads. They are a cancer upon the earth. 

In reply to by Fiscal Smegma

CashMcCall just the tip Tue, 05/15/2018 - 22:09 Permalink

Tepper is an investor. He uses his mind to predict trends of commerce in the future trying to separate off the noise from reality. This is a very abstract art. 

One of his themes is correct. The US Supreme Court just opened up sports betting. Tepper somehow predicted this well in advance of the ruling. In the process, he had a bid in for the Carolina Panthers, and Boyd and other conceptual pieces of the enterprise. 

Imagine going to NFL games where you can place a bet just like betting on the ponies at the track. While that may not appeal to you, it will be huge. You never saw it but Tepper surrounded it. Tepper SEES, you only "Feel" and most of your feelings are that of envy so you will never be successful. 

 

In reply to by just the tip

Borat Sagdiyev Tue, 05/15/2018 - 22:00 Permalink

Why is it not mentioned that the largest sale was ~$780,000,000 worth of QQQ shares?  You made it a point to mention the AAPL exit, GOOG add, FB add and other tech trades yet, somehow, the largest of any trades was ignored even though that product tracks the Nasdaq . . .