True Alpha David Tepper Cuts SPY, AAPL, BAC - Sells CMCSA

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As of the third quarter, the updated portfolio of David Tepper of Appaloosa Management lists 64 stocks, 5 of them new, a total value at $6.28 billion, and a quarter-over-quarter turnover of 4%. The portfolio is currently weighted with top three sectors: ETF, options, preferred at 21.6%, industrials at 18.6% and financial services at 18.6%. The stocks bought by Tepper averaged a return of 21.01% over 12 months. These are his high-impact sells from the third quarter of 2013:

SPDR S&P 500 ETF ( SPY ): Reduced

Impacts Portfolio: -10.04%

Current Shares: 3,837,366

Up 28% over 12 months, SPY, an exchange traded fund, has a market cap of $136.72 billion; its shares were traded at around $181.12. The dividend yield is 2.00%.

Check out the GuruFocus analysis of SPY with one warning .

Guru Action: As of Sept. 30, 2013, David Tepper reduced his position by 53.13%, selling 4,349,366 shares at an average price of $167.45 for an 8.2% gain, the low point in the history.

Over six gaining quarters, Tepper has averaged a 14% gain on 8,186,960 shares bought at an average price of $159.22 per share. On shares sold, he averaged an 8% gain on 4,349,366 shares sold at an average price of $167.45 per share.

Numerous gurus hold SPY as of the third quarter, with Ray Dalio as the top guru stakeholder with 20,689,200 shares or 2.65% of shares outstanding. No insider trading was found.

Tepper and other gurus placed puts and calls on SPY as of the third quarter.

Track share pricing since 2000:

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Comcast Corp. ( CMCSA ): Sold Out

Impacts Portfolio: -0.89%

Up 36% over 12 months, Comcast Corp. has a market cap of $130.2 billion; its shares were traded at around $49.78 with a P/E ratio of 19.60. The dividend yield is 1.50%.

Guru Action: As of Sept. 30, 2013, David Tepper sold out his Comcast holding, selling 1,465,032 shares at an average price of $43.54 per share for a 14.3% gain.

Tepper has held CMCSA for three double-digit gaining quarters. His highest gain of 25% was made on a new buy of 1,640,000 shares at an average price of $39.83 per share, in the first quarter of 2013.

Find many more gurus trading and insiders selling.

Track historical pricing, revenue and net income:

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Apple Inc. ( AAPL ): Reduced

Impacts Portfolio: -0.8%

Current Shares: 244,120

Down 6% over 12 months, Apple Inc. has a market cap of $491.22 billion; its shares were traded at around $545.96 with a P/E ratio of 13.80. The dividend yield is 2.20%.

Guru Action: As of Sept. 30, 2013, David Tepper reduced his AAPL position by 36.26%, selling 138,884 shares at an average price of $464.25 for a 17.6% gain.

Tepper has averaged a gain of 12% buying 1,243,204 shares at an average price of $489.17 per share. On shares sold, he averaged a 17% gain on 999,084 shares sold at an average price of $465.86 per share.

Find more guru trading and insider selling.

Track historical pricing, revenue and net income:

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Bank of America Corp. ( BAC ): Reduced

Impacts Portfolio: -0.78%

Current Shares: 2,219,607

Up 62% over 12 months, Bank of America Corp. has a market cap of $168.84 billion; its shares were traded at around $15.83 with a P/E ratio of 24.20. The dividend yield is 0.19%.

Guru Action: As of Sept. 30, 2013, David Tepper reduced his position by 65.02%, selling 4,125,000 shares at an average price of $14.27 for a 10.9% gain.

Overall, Tepper has averaged a gain of 65% buying 11,318,007 shares at an average price of $9.57 per share. On shares sold, he averaged a 46% gain on 9,098,400 shares sold at an average price of $10.87 per share.

Find more guru and insider trades.

Track historical pricing, revenue and net income:

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Here is the complete portfolio of David Tepper.

Forbes ranked David Tepper, founder of Appaloosa Management, as the highest-earning among the top 40 hedge fund managers and traders for 2012, with a personal income of $2.2 billion.

David Tepper's hedge fund, Appaloosa Management, had net returns of almost 30% last year, with an average annual return of 23.3% over 5 years, and 29.2% since inception in 1993.



GuruFocus Real Time Picks reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.

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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 , Stocks

Referenced Stocks: AAPL , BAC , CMCSA , SPY

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