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Aug. 14, 2020, 5:08 p.m. EDT

Tepper's Appaloosa loads up on new stakes in AT&T, Visa, PayPal, Disney, and Mastercard

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By Mark DeCambre

David Tepper's fund Appaloosa took a number of new stakes in mostly communication services, technology an payment platforms over the past 45-day period, according to regulatory filings submitted to the Securities and Exchange Commission on Friday, known as 13Fs. Appaloosa acquired more than 9 million shares in AT&T /zigman2/quotes/203165245/composite T -0.58% worth $274 million, but also picked up 840,000 shares of Visa Inc. /zigman2/quotes/203660239/composite V +0.07% valued at $162.3 million, 545,000 shares of Mastercard /zigman2/quotes/207581792/composite MA -0.71% worth $161 million, and 870,000 shares of payments company PayPal Holdings /zigman2/quotes/208054269/composite PYPL -2.83% , or $151.6 million. Tepper's fund also scooped up 1.2 million shares of Disney at $133 million and 1.9 million shares of food-services company Sysco Corp. /zigman2/quotes/205335941/composite SYY +0.22% worth $102.5 million. Appaloosa also purchased 1.6 million shares of Altria Group Inc. for about $61 million, representing a new position in the tobacco company. Incidentally, while the 13F fillings for Warren Buffett's Berkshire Hathaway /zigman2/quotes/208872451/composite BRK.A -1.03% /zigman2/quotes/200060694/composite BRK.B -0.70% was unloading more than a quarter of its position in Wells Fargo & Co. /zigman2/quotes/203790192/composite WFC -2.33% , Tepper boosted his position by more than 170%, buying 1.2 million shares of the San Francisco bank, representing 0.8% of Appaloosa's overall portfolio from 0.6%. The company also picked up 1.4 million shares of Emerson Electric Co. /zigman2/quotes/200181610/composite EMR +0.60% , worth $87 million, about 1.5% of the fund's portfolio. Large investors must disclose long stock positions held at the end of a quarter 45 days later in a 13F filing with the SEC, which means such filings are merely a snapshot of an investor holdings at a given point.

/zigman2/quotes/203165245/composite
US : U.S.: NYSE
$ 29.07
-0.17 -0.58%
Volume: 31.65M
Sept. 17, 2020 4:02p
P/E Ratio
17.76
Dividend Yield
7.16%
Market Cap
$208.33 billion
Rev. per Employee
$637,332
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/zigman2/quotes/203660239/composite
US : U.S.: NYSE
$ 205.27
+0.14 +0.07%
Volume: 7.47M
Sept. 17, 2020 4:00p
P/E Ratio
40.07
Dividend Yield
0.58%
Market Cap
$436.49 billion
Rev. per Employee
$1.25M
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/zigman2/quotes/207581792/composite
US : U.S.: NYSE
$ 339.43
-2.42 -0.71%
Volume: 3.71M
Sept. 17, 2020 4:00p
P/E Ratio
46.97
Dividend Yield
0.47%
Market Cap
$342.21 billion
Rev. per Employee
$1.01M
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/zigman2/quotes/208054269/composite
US : U.S.: Nasdaq
$ 175.79
-5.12 -2.83%
Volume: 11.84M
Sept. 17, 2020 4:00p
P/E Ratio
80.67
Dividend Yield
N/A
Market Cap
$212.26 billion
Rev. per Employee
$710,138
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/zigman2/quotes/205335941/composite
US : U.S.: NYSE
$ 68.40
+0.15 +0.22%
Volume: 4.43M
Sept. 17, 2020 4:00p
P/E Ratio
174.49
Dividend Yield
2.63%
Market Cap
$34.71 billion
Rev. per Employee
$890,245
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/zigman2/quotes/208872451/composite
US : U.S.: NYSE
$ 326,401
-3,400 -1.03%
Volume: 428.00
Sept. 17, 2020 4:00p
P/E Ratio
23.84
Dividend Yield
N/A
Market Cap
$524.70 billion
Rev. per Employee
$637,113
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/zigman2/quotes/200060694/composite
US : U.S.: NYSE
$ 218.05
-1.54 -0.70%
Volume: 6.94M
Sept. 17, 2020 4:02p
P/E Ratio
23.88
Dividend Yield
N/A
Market Cap
$524.70 billion
Rev. per Employee
$637,113
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/zigman2/quotes/203790192/composite
US : U.S.: NYSE
$ 25.11
-0.60 -2.33%
Volume: 51.53M
Sept. 17, 2020 4:02p
P/E Ratio
28.70
Dividend Yield
1.59%
Market Cap
$105.93 billion
Rev. per Employee
$392,114
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/zigman2/quotes/200181610/composite
US : U.S.: NYSE
$ 69.09
+0.41 +0.60%
Volume: 2.40M
Sept. 17, 2020 4:03p
P/E Ratio
21.57
Dividend Yield
2.89%
Market Cap
$41.04 billion
Rev. per Employee
$202,731
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