NRG Energy Inc (NYSE:NRG)
How Many NRG Energy Shares Tepper Owns: 9.76 million (+1.32 million shares in Q4)
How Much Money Tepper Has Invested in the Stock: $277.96 million
Too Much is Never Enough: Tepper bought 7.19 million shares of NRG Energy in the third-quarter, which wasn’t enough to quench his appetite for the stock, as he added another 1.32 million shares to his portfolio in Q4. Despite the increase, energy stocks fell to just 4.4% of Tepper’s 13F portfolio as of December 31, less than half of what they constituted a quarter earlier and their lowest level in over two years. With his exposure to energy stocks down at the moment, it shows his conviction in this particular company that he’s invested so heavily in it.
NRG Energy Inc (NYSE:NRG) Unloads Billions in Assets: Earlier this month, NRG Energy announced multiple asset sales that resulted in total cash proceeds of $2.8 billion and the removal of $7 billion in debt from the company’s books. Among the assets being divested were the company’s ownership in NRG Yield and the NRG Renewables Platform, in addition to its South Central business, which boasts 3,555 MW of power generation capacity.
Basking in the Hawaiian Sun: Earlier this year, NRG Energy broke ground on a large grid-scale solar project in Hawaii, the largest of its kind in the state. The three solar farms, which are being built on Oahu, the state’s most populated island, are expected to be completed next year and will provide over 100 MW of renewable energy to the island’s residents.
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XPO Logistics Inc (NYSE:XPO)
How Many XPO Logistics Shares Tepper Owns: 2.20 million (+2.14 million in Q4)
How Much Money Tepper Has Invested in the Stock: $201.85 million
Tepper Wasn’t Done With XPO Logistics Inc (NYSE:XPO) Just Yet: XPO was one of Tepper’s new positions opened during the third-quarter of last year. However, the position was small (just 64,311 shares), which obscured how much Tepper really liked the stock. Now the picture is clearer, with Tepper having filled out the position with another 2.14 million shares in Q4, making it his 12th-largest stock position.
Timing is Everything: Tepper’s big Q4 purchase paid immediate dividends towards the end of December, when XPO Logistics soared on the news that Home Depot Inc. (NYSE:HD) was considering a purchase of XPO, partly due to fears that Amazon.com, Inc. (NASDAQ:AMZN) might buy the company first. XPO shares are still 16% higher than before that revelation came to light, though some analysts have questioned whether such a deal makes sense for Home Depot. It’s expected that XPO Logistics will greatly benefit from Amazon’s plans for a stronger push into large furniture items.
Hedge Fund Ownership of XPO Logistics Inc (NYSE:XPO): XPO was one of the most popular stocks among the hedge funds in our database in terms of overall share ownership as of September 30, 2017, as over 30% of the company’s shares were held by them (and that’s before Tepper’s big Q4 purchase). Billionaire Ken Griffin of Citadel Investment also hiked his sizable position in the stock by another 40% during Q4, lifting his stake to 2.49 million shares, while Doug Silverman and Alexander Klabin’s Senator Investment Group opened a 1 million-share position in XPO.
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Disclosure: None
