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Billionaire David Tepper’s 2023 Portfolio: Top 15 Stock Picks

In this piece, we will take a look at the top 15 stock picks in billionaire David Tepper’s 2023 portfolio. For more stocks, head on over to Billionaire David Tepper’s 2023 Portfolio: Top 15 Stock Picks.

After a tumultuous 2022 and a start to 2023 that saw markets focus on whether the Federal Reserve would finally end its interest rate hiking cycle and if this would cause a recession, over the past couple of months a new complication has made its way into the financial markets. This is the U.S. debt ceiling, and it sits right at the heart of the American economy and by extension, the global economy. The debt ceiling is decided by Congress, and it serves as a check for the executive branch – or the Treasury Department under the President – to limit the amount of money that it can borrow to meet debt repayments.

The back and forth between the president and Congress for this ceiling has often created turmoil in the financial market. In fact, this tussle also caused S&P Global Ratings to downgrade U.S. government debt to AA+ from AAA in 2011 – the first and only time in history that America received a downgrade which is often reserved for developing countries with fiscal mismanagement. The impact of this downgrade on the stock markets was immediate, with all major indexes declining by as much as seven percent in the aftermath.

So, what would happen to the economy if America were to default? Well, the government borrows money to fund a variety of programs and functions such as salaries and healthcare spending. This funnels money into the economy and stimulates productivity for a variety of businesses. In case of a default, this spending stops and a large amount of money is removed from the economy. How large? According to the investment bank Goldman Sachs, the event can cut up to ten percent of the American economy until the government figures out how to raise money. Perhaps ironically, a default also increases the risk premium that investors lending to the U.S. government demand for their money, which then spirals into higher costs of borrowing for the consumer (for instance for mortgages) and more interest payments that the government has to make on its debt. In broader terms, a Democratic Party think tank estimates that the economy can lose as many as three million jobs and a 30 year mortgage could cost an additional $130,000 to fund.

In this turmoil, how does one invest? Well, it’s important to look at what hedge funds are doing especially since talk of the debt ceiling had started to emerge since January. Fortunately for us, hedge fund filings for the first quarter of this year have started to become available and one fund that is on our radar is billionaire David Tepper’s Appaloosa Management. Mr. Tepper is one of the richest people in the world, with Forbes Magazine estimating his net worth at $18.5 billion as of May 2023. He set up the hedge fund in 1993 and since then it has grown to manage billions of dollars in funds, with our research suggesting a portfolio value of $1.8 billion as of Q1 2023. The billionaire has a business school named after him, and he started his career working in a steel company. Mr. Tepper’s astute management at Goldman Sachs during the 1987 Black Monday stock market crash earned him laurels in the industry, as he bought debt that had dropped in value at the time but then recuperated the losses after the market recovered – resulting in gains for the investment bank.

Today, we’ll look at Mr. Tepper’s top stock picks as the clouds of recession remain on the horizon and lawmakers wonder if a default will really be that bad. Some top picks of the billionaire are Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG), and Uber Technologies, Inc. (NYSE:UBER).

Our Methodology

To compile our list of David Tepper’s top stock picks, we took a look at Appaloosa Management’s SEC filings for the first quarter of this year. Investments in exchange traded funds are excluded, but you can take a look at them here.

Billionaire David Tepper’s 2023 Portfolio: Top 15 Stock Picks

15. Tesla, Inc. (NASDAQ:TSLA)

Appaloosa Management’s Q1 2023 Investment: $31 million

Tesla, Inc. (NASDAQ:TSLA) is the largest electric vehicle manufacturer in the world. It is a new addition to Appaloosa Management’s portfolio, with the firm disclosing a $31 million stake in the firm as of Q1 2023.

By the end of last year’s fourth quarter, 91 of the 943 hedge funds part of Insider Monkey’s database had bought a stake in Tesla, Inc. (NASDAQ:TSLA). In the succeeding quarter, the firm’s largest investor is D.E. Shaw’s D E Shaw with a $1.2 billion stake courtesy of 6.2 million shares.

14. HCA Healthcare, Inc. (NYSE:HCA)

Appaloosa Management’s Q1 2023 Investment: $37.5 million

HCA Healthcare, Inc. (NYSE:HCA) is an American company headquartered in Nashville, Tennessee. The firm operates different kinds of hospitals and outpatient healthcare facilities.

64 of the 943 hedge funds surveyed by Insider Monkey had invested in the firm during Q4 2022. HCA Healthcare, Inc. (NYSE:HCA)’s largest hedge fund investor is Natixis Global Asset Management’s Harris Associates since it owns 4.9 million shares that are worth $1.3 billion.

13. NVIDIA Corporation (NASDAQ:NVDA)

Appaloosa Management’s Q1 2023 Investment: $41.6 million

NVIDIA Corporation (NASDAQ:NVDA) is another fresh addition to Appaloosa Management’s portfolio. The hedge fund has a $41.6 million stake in the firm. NVIDIA Corporation (NASDAQ:NVDA) designs and sells graphics processing units for both public and commercial use.

Insider Monkey’s December quarter of 2022 study of 943 hedge funds revealed that 106 had owned the firm’s shares. As of March 2023, NVIDIA Corporation (NASDAQ:NVDA)’s largest investor is Ken Fisher’s Fisher Asset Management with a $2.7 billion stake.

12. Salesforce, Inc. (NYSE:CRM)

Appaloosa Management’s Q1 2023 Investment: $57.9 million

Salesforce, Inc. (NYSE:CRM) is a technology firm based in San Francisco, California. It is one of the leading providers of customer relationship management software enabling firms to generate insights by running analytics.

After digging through 943 hedge fund portfolios for 2022’s final quarter, Insider Monkey found out that 117 had bought Salesforce, Inc. (NYSE:CRM)’s shares. Its largest shareholder is Ken Fisher’s Fisher Asset Management with a $2.8 billion investment.

11. UnitedHealth Group Incorporated (NYSE:UNH)

Appaloosa Management’s Q1 2023 Investment: $70.8 million

UnitedHealth Group Incorporated (NYSE:UNH) provides health benefit plans to a variety of customers as well as advisory and consulting services to hospitals and others. It was set up in 1977 and is based in Minnetonka, Minnesota.

By the end of Q4 2022, 110 of the 943 hedge funds part of Insider Monkey’s database had invested in the company. By the end of Q1 2023, UnitedHealth Group Incorporated (NYSE:UNH)’s largest shareholder was Rajiv Jain’s GQG Partners with a $2.2 billion stake.

10. Microsoft Corporation (NASDAQ:MSFT)

Appaloosa Management’s Q1 2023 Investment: $74.9 million

Microsoft Corporation (NASDAQ:MSFT) is one of the largest consumer technology firms in the world. It designs and sells gadgets, provides cloud computing services, and sells an operating system and other software.

258 of the 943 hedge funds polled by Insider Monkey had bought Microsoft Corporation (NASDAQ:MSFT)’s shares during last year’s fourth quarter. In the succeeding quarter, Michael Larson’s Bill & Melinda Gates Foundation Trust was the firm’s largest investor, owning 39.2 million shares worth $11 billion.

9. FedEx Corporation (NYSE:FDX)

Appaloosa Management’s Q1 2023 Investment: $79.9 million

FedEx Corporation (NYSE:FDX) is a logistics and transportation company. Appaloosa Management bought a $79.9 million stake in the firm during 2023’s March quarter, making it a fresh addition to the portfolio.

Insider Monkey scouted 943 hedge fund portfolios for 2022’s final quarter to discover that 48 had invested in FedEx Corporation (NYSE:FDX). The firm’s largest hedge fund shareholder is Ken Griffin’s Citadel Investment Group with a $467 million stake.

8. EQT Corporation (NYSE:EQT)

Appaloosa Management’s Q1 2023 Investment: $81.3 million

EQT Corporation (NYSE:EQT) is an energy company operating out of Pittsburgh, Pennsylvania. It has trillions of cubic feet of natural gas reserves.

As of Q4 2022, 56 of the 943 hedge funds surveyed by Insider Monkey had bought the firm’s shares. EQT Corporation (NYSE:EQT)’s largest shareholder is Eric W. Mandelblatt’s Soroban Capital Partners with a $199 million investment.

7. Macy’s, Inc. (NYSE:M)

Appaloosa Management’s Q1 2023 Investment: $104.9 million

Macy’s, Inc. (NYSE:M) is a retail chain company that was set up in 1830 and is headquartered in New York,  New York. The firm has stores all over the world.

Insider Monkey’s December quarter of 2022 survey of 943 hedge funds revealed that 41 had held a stake in the retail company. By the end of March 2023, Macy’s, Inc. (NYSE:M) largest investor was Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital holding a $184 million stake.

6. Energy Transfer (NYSE:ET)

Appaloosa Management’s Q1 2023 Investment: $127.2 million

Energy Transfer (NYSE:ET) is a midstream oil and gas company. It was set up in 1995 and is based in Dallas, Texas.

38 of the 943 hedge funds part of Insider Monkey’s database had bought Energy Transfer (NYSE:ET)’s shares in Q4 2022. The firm’s largest investor is David Abrams’ Abrams Capital Management since it owns 17.8 million shares that are worth $222 million.

Amazon.com, Inc. (NASDAQ:AMZN), Energy Transfer (NYSE:ET), Alphabet Inc. (NASDAQ:GOOG), and Uber Technologies, Inc. (NYSE:UBER) are some of David Tepper’s best stocks for 2023.

Click to continue reading and see Billionaire David Tepper’s 2023 Portfolio: Top 5 Stock Picks.

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Disclosure: None. Billionaire David Tepper’s 2023 Portfolio: Top 15 Stock Picks is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

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Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

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