Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Billionaire David Tepper’s New Stock Picks

Page 1 of 2

David Tepper is the founder and manager of Appaloosa Management which is regarded as of one of the most successful hedge funds in recent times. The fund has generated an average annual return of 30% since its inception in 1993. It had 13F portfolio value of $4.4 billion at the end of the September. As per its latest round of 13F filing, Appaloosa Management bought 13 new stocks and made additional purchases in six of its existing holdings. In the article below, we take a look at some of Tepper’s major buys during the quarter ending September such as Facebook Inc (NASDAQ:FB), Apple Inc (NASDAQ:AAPL), Yahoo! Inc. (NASDAQ:YHOO), Tempur Sealy International Inc (NYSE:TPX), and Bank of America Corp (NYSE:BAC).

We follow over 700 hedge funds and other institutional investors and by analyzing their quarterly 13F filings, we identify stocks that they are collectively bullish on and develop investment strategies based on this data. One strategy that outperformed the market over the last year involves selecting the 100 best-performing funds and identifying the 30 mid-cap stocks that they are collectively the most bullish on. Over the past year, this strategy generated returns of 18%, topping the 8% gain registered by S&P 500 ETFs.

Appaloosa Management Lp

Bank of America Corp (NYSE:BAC) constituted 1.47% of Appaloosa Management’s portfolio at the end of the third quarter. The fund bought 4.1 million shares in this company with a value of $64.7 million by the end of September. Many bulls believe Bank of America Corp (NYSE:BAC) will benefit from the potential loosening of regulations expected under Donald Trump administration. In addition, Trump’s pro-inflationary policies could also help boost Bank of America’s ROI, which could increase buybacks and dividends. Other funds bullish on Bank of America Corp (NYSE:BAC) include Stanley Druckenmiller’s Duquesne Capital and Fisher Asset Management. As per our system, 112 funds held shares worth $7.24 billion in this stock during the third quarter, as compared to 102 hedge funds holding shares worth $5.28 billion during the second quarter.

Follow Bank Of America Corp (NYSE:BAC)
Trade (NYSE:BAC) Now!

Page 1 of 2