Our alma mater's namesake once again does what the market at large could not. According to Appaloosa's 13-F filed with the U.S. SEC on Friday Mr. Tepper did it this year by loading up on techs in Q3:
- 6 million shares of networking equipment maker Cisco Systems (CSCO) - can't win them all!
- 3.7 million shares of Hewlett Packard Co (HPQ)
- 2.8 million shares of Microsoft Corp (MSFT)
- 180,400 shares of Intel Corp (INTC)
- 1.7 million shares of the Semiconductor HOLDRS Trust (SMH)
According to the filing, Appaloosa is holding a total of $3.4 billion of U.S. listed equities. Note however that -short positions, bonds, derivatives and securities listed outside of the U.S. do not have to be disclosed and that managers can also avoid disclosing U.S. stocks under certain circumstances or list positions in a confidential filing.Visit www.BenjaminJGarber.com to view a video of Mr. Tepper's 24 September interview on CNBC where he predicts the October rally and a copy of Appaloosa's latest letter to their investors.
Appaloosa Investor Letter
Disclosure: Long C