Highest-Income Alpha Tepper Trims Six

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Highest-earning Guru David Tepper , founder of Appaloosa Management, reduced his position with six companies in the first quarter of 2013. Here's a review of the billionaire philanthropist's trimming trades along with an interactive valuation chart to track share prices over 10 years.

All trades were made as of quarter ending March 31, 2013:

Reduced: Apple Inc. ( AAPL ) - Computer Systems

David Tepper reduced his position with APPL by 40.83%, selling 372,661 shares at an average price of $466.17 for a loss of 5.5%. Tepper holds 540,000 shares after the trade. Tepper's highest quarter gain was 27.4% in the first quarter of 2011.

This trade impacts his portfolio by -4.29%.

The current share price is $440.44 compared to valuations over 10 years:





Reduced: American International Group Inc. ( AIG ) - Insurance - Diversified

As of March 31, 2013, David Tepper also reduced his position in AIG by 28.6%, selling a little more than 1.7 million shares at an average price of $37.65 for a gain of 18.7%. Tepper holds around 4.3 million shares after the trade. Tepper's highest quarter gain was 159.1% in the first quarter of 2009.

This trade impacts his portfolio by -1.32%.

The current share price is $44.49 compared to valuations over 10 years:



Reduced: JPMorgan Chase & Co. ( JPM ) - Banks - Global

David Tepper reduced his position in JPM by 56.54%, selling a little more than 1.3 million shares at an average price of $48 for a gain of 12.2%. Tepper holds one million shares after the trade. Tepper's highest quarter gain was 53.9% in the fourth quarter of 2008.

This trade impacts his portfolio by -1.24%.

The current share price is $53.85 compared to valuations over 10 years:



Reduced: Valero Energy Corporation ( VLO ) - Oil & Gas Refining & Marketing

David Tepper also reduced his position with VLO by 68.11%, selling 527,576 shares at an average price of $38.92 for a gain of 3.4%. Tepper holds 247,000 shares after the trade. His highest quarter gain was 157.6% in the third quarter of 2010.

This trade impacts his portfolio by -0.39%.

The current share price is $40.24 compared to valuations over 10 years:



Reduced: Chimera Investment Corporation ( CIM ) - REIT - Diversified

David Tepper also reduced his position with CIM by 49.29%, selling around 4.4 million shares at an average price of $3.02 for a gain of 5.3%. Tepper holds around 4.5 million shares after the trade. His highest quarter gain was 29.3% in the third quarter of 2012.

This trade impacts his portfolio by -0.25%.

The current share price is $3.18 compared to valuations over 10 years:



Reduced: Sealed Air Corporation ( SEE ) - Packaging and Containers

David Tepper also reduced his position with SEE by 27.24%, selling 503,705 shares at an average price of $20.61 for a gain of 14.7%. Tepper holds around 1.3 million shares after the trade. His highest quarter gain was 57.8% in the third quarter of 2012.

This trade impacts his portfolio by -0.19%.

The current share price is $23.63 compared to valuations over 10 years:



In 2012, Guru David Tepper made $2.2 billion in personal income. Tepper's hedge fund, Appaloosa Management, had net returns of almost 30% last year, with an average annual return of 23.3% over five years, and 29.2% since inception in 1993. His portfolio lists 61 stocks, nine of them new, and a total value of $4.7 billion. The fund's quarter-over-quarter turnover is 11%, according to the most recent update from GuruFocus on May 15, 2013.



Here is the complete portfolio of David Tepper.

1. David Tepper's Undervalued Stocks
2. David Tepper's Top Growth Companies
3. David Tepper's High Yield stocks
4. Stocks that David Tepper keeps buying

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing

Referenced Stocks: AAPL , AIG , CIM , JPM , VLO

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