Billionaire David Tepper Shifts Portfolio, Invests $411 Million in Whirlpool
- David Tepper sold UnitedHealth (UNH) by 92% and exited Intel (INTC) entirely.
- He trimmed stakes in Alibaba (BABA) by 9%, Vistra (VST) by 31%, and Micron (MU) by 39% in Q3.
- Tepper invested $411 million into Whirlpool (WHR), increasing shares from 266,000 to over 5.5 million.
- Whirlpool now constitutes approximately 5.85% of Appaloosa’s $7.38 billion portfolio.
- The portfolio grew by 14% quarter-over-quarter, with top holdings including Alibaba at 15.6% and Amazon at 7.4%.
Tepper’s recent moves reflect a contrarian strategy, focusing on undervalued cyclicals as he divests from tech and health sectors amid market fluctuations. His investments in traditional companies like Goodyear Tire and regional banks indicate a shift towards more stable assets during uncertain times.
The key takeaway is Tepper’s significant pivot towards Whirlpool while drastically reducing exposure to tech stocks, highlighting his opportunistic investment approach.(Source)
