David Tepper (Trades, Portfolio), star fund manager of Appaloosa Management, famously told investors in May, “I’m not saying go short, just don’t be too frigging long,” according to Reuters.
In the second quarter, he bought just three new stocks: Mohawk Industries Inc. (MHK, Financial), Weatherford International PLC (WFT, Financial) and Ryland Group Inc. (RYL, Financial).
At the quarter’s end, he held 50 stocks total, in a portfolio valued at $7.2 billion. He had also placed 25.9% of the portfolio into the consumer cyclical sector, 18.4% into technology and 17.7% into industrials as his top-weighted sectors.
The new buys
Mohawk Industries Inc. (MHK, Financial)
Tepper purchased 568,129 shares of Mohawk Industries Inc., for a portfolio space of 1.1%. The stock’s price averaged $135 for the quarter.
Mohawk Industries Inc. is a Delaware Corporation. The company is a producer of floor covering products for residential and commercial applications in the U.S. Mohawk Industries Inc. has a market cap of $10.19 billion; its shares were traded at around $139.92 with a P/E ratio of 22.80 and P/S ratio of 1.30. Mohawk Industries Inc. had an annual average earnings growth of 18.70% over the past five years.
Weatherford International PLC (WFT, Financial)
Tepper bought 2,667,195 shares of Weatherford International PLC, for 0.86% of his portfolio. The stocks’ share price averaged $21 in the second quarter.
Weatherford International Ltd. was originally incorporated in Delaware in 1972, and as a result of its corporate reorganization in 2002, is now incorporated in Bermuda. Weatherford International Plc has a market cap of $16.4 billion; its shares were traded at around $21.20 with and P/S ratio of 1.20. Weatherford International Plc had an annual average earnings growth of 4.00% over the past 10 years.
Ryland Group Inc. (RYL, Financial)
Tepper bought 1,083,471 shares of Ryland Group Inc., for 0.6% of the portfolio. The stocks’ share price averaged $38 for the quarter.
Ryland Group Inc. is a Maryland corporation, which was founded in 1967. Ryland Group Inc. has a market cap of $1.63 billion; its shares were traded at around $34.67 with a P/E ratio of 12.10 and P/S ratio of 0.80. The dividend yield of Ryland Group Inc. stocks is 0.40%.
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