Insight into Appaloosa Management's Latest Portfolio Adjustments

David Alan Tepper, the esteemed founder of Appaloosa Management, has once again made notable adjustments to his investment portfolio in the third quarter of 2024. Known for his keen market insights and high returns, Tepper's latest 13F filing reveals strategic buys, significant increases, complete sell-offs, and reductions across various sectors. Appaloosa Management, based in Miami Beach, Florida, is renowned for its focus on public equity and fixed income markets globally, with a particular expertise in distressed debt.

• Warning! GuruFocus has detected 4 Warning Signs with BABA.

New Additions to the Portfolio

David Tepper (Trades, Portfolio) introduced four new stocks to his portfolio this quarter:

• Vistra Corp (NYSE:VST) leads as the top new entry with 1,270,388 shares, making up 2.24% of the portfolio, valued at $150.59 million.

• NRG Energy Inc (NYSE:NRG) follows with 999,820 shares, accounting for approximately 1.35% of the portfolio, totaling $91.08 million.

• Las Vegas Sands Corp (NYSE:LVS) was also added with 1,528,323 shares, representing 1.14% of the portfolio, valued at $76.94 million.

Significant Increases in Existing Positions

Tepper has also aggressively increased his stakes in several companies:

• PDD Holdings Inc (NASDAQ:PDD) saw the most substantial increase, with an additional 3,361,132 shares, bringing the total to 5,301,132 shares. This adjustment marks a 173.25% increase in share count and a 6.73% impact on the current portfolio, valued at $714.65 million.

• JD.com Inc (NASDAQ:JD) also experienced a significant boost with an additional 2,989,400 shares, bringing the total to 7,300,000 shares, valued at $292 million.

Complete Sell-Offs

During this quarter, Tepper decided to exit positions entirely in three companies:

• United Parcel Service Inc (NYSE:UPS) was completely sold off with all 605,000 shares, impacting the portfolio by -1.34%.

• Boeing Co (NYSE:BA) also saw a complete liquidation of 210,000 shares, causing a -0.62% impact on the portfolio.

Reductions in Key Holdings

Reductions were made in several significant positions:

• Meta Platforms Inc (NASDAQ:META) was reduced by 310,000 shares, resulting in a -33.16% decrease in shares and a -2.53% impact on the portfolio. The stock traded at an average price of $514.55 during the quarter and has returned 9.67% over the past three months and 63.55% year-to-date.

• Microsoft Corp (NASDAQ:MSFT) saw a reduction of 211,356 shares, marking a -17.89% reduction in shares and a -1.53% impact on the portfolio. The stock traded at an average price of $427.47 during the quarter and has returned 2.59% over the past three months and 14.14% year-to-date.