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David Tepper's Appaloosa Up 20.9% YTD Riding Tech

|Includes: BAC, C, Cisco Systems, Inc. (CSCO), HPQ, INTC, MSFT, SMH
Thanks to Emory Redd of Schenley Park Capital Management over at HedgeRoll for sending this my way.  

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)

Mr. Tepper is also beginning to shed financials as he let go of 4.8 million shares of Bank of America (BAC) and 6.7 million shares of Citigroup (C).

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