Guru David Tepper Adds One Company to Portfolio in Fourth Quarter

Feb 17, 2015

Hedge fund manager and founder of Appaloosa Management David Tepper (Trades, Portfolio) has built a reputation over the years for investing in distressed companies.

Tepper bought only one stock in the fourth quarter – American Realty Capital Properties Inc (ARCP, Financial), a Phoenix-based real estate company. Tepper bought 2,927,632 shares in the company for an average price of $9.77 per share.

Four other gurus – Jim Simons (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio) and Eric Mindich (Trades, Portfolio) – own shares in American Realty Capital Properties. Pioneer Investments (Trades, Portfolio) sold its stake in the fourth quarter; Joel Greenblatt (Trades, Portfolio), George Soros (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) sold their stakes in American Realty Capital Properties in the third quarter.

Tepper sold his stakes in 14 companies – Citigroup Inc (C, Financial), Halliburton Co (HAL), Mohawk Industries Inc (MHK), Facebook Inc (FB, Financial), CBS Corp (CBS, Financial), Apple Inc (AAPL, Financial), Ford Motor Co (F, Financial), Broadcom Corp (BRCM, Financial), Alibaba Group Holding Ltd (BABA, Financial), Schlumberger NV (SLB, Financial), MGM Resorts International (MGM, Financial), Weatherford International PLC (WFT, Financial), Shire PLC (SHPG) and Walt Disney Co (DIS).

He sold his 8,319,639-share stake in Citigroup, a New York-based banking and financial services company, for an average price of $53.13 per share. The deal had a -6.4% impact on his portfolio.

Tepper also sold his 5,024,621-share stake in Halliburton, a Houston-based oilfield services company, for an average price of $48.52 per share. The transaction had a -4.8% impact on his portfolio.

Tepper sold his 568,129-share stake in Mohawk Industries, a Georgia-based flooring manufacturer, for an average price of $144 per share. The transaction had a -4.7% impact on his portfolio.

Tepper sold his 3,585-329-share stake in Facebook, a California-based social networking service, for an average price of $76.53 per share. The deal had a -4.2% impact on his portfolio.

Tepper reduced his holdings in 16 companies – SPDR S&P 500 ETF (SPY), Delta Air Lines Inc (DAL), American Airlines Group Inc (AAL), Google Inc (GOOG), Whirlpool Corp (WHR), Huntsman Corp (HUN), Masco Corp (MAS), Goodyear Tire & Rubber Co (GT), HCA Holdings Inc (HCA), Lorillard Inc (LO), Chicago Bridge & Iron Company (CBI), Owens-Corning Inc (OC), NXP Semiconductors NV (NXPI), KBR Inc (KBR), Triumph Group Inc (TGI) and Axiall Corp (AXLL).

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