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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 -1.04% worth $274 million, but also picked up 840,000 shares of Visa Inc. /zigman2/quotes/203660239/composite V -2.55% valued at $162.3 million, 545,000 shares of Mastercard /zigman2/quotes/207581792/composite MA -2.21% worth $161 million, and 870,000 shares of payments company PayPal Holdings /zigman2/quotes/208054269/composite PYPL +4.06% , 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 -5.29% 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 -2.46% /zigman2/quotes/200060694/composite BRK.B -2.38% was unloading more than a quarter of its position in Wells Fargo & Co. /zigman2/quotes/203790192/composite WFC -4.34% , 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 -4.23% , 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
$ 28.63
-0.30 -1.04%
Volume: 45.16M
Sept. 21, 2020 4:03p
P/E Ratio
17.49
Dividend Yield
7.27%
Market Cap
$206.13 billion
Rev. per Employee
$637,332
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/zigman2/quotes/203660239/composite
US : U.S.: NYSE
$ 197.45
-5.16 -2.55%
Volume: 9.58M
Sept. 21, 2020 4:00p
P/E Ratio
38.54
Dividend Yield
0.61%
Market Cap
$431.13 billion
Rev. per Employee
$1.25M
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/zigman2/quotes/207581792/composite
US : U.S.: NYSE
$ 327.85
-7.41 -2.21%
Volume: 4.34M
Sept. 21, 2020 4:00p
P/E Ratio
45.37
Dividend Yield
0.49%
Market Cap
$335.62 billion
Rev. per Employee
$1.01M
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/zigman2/quotes/208054269/composite
US : U.S.: Nasdaq
$ 183.21
+7.14 +4.06%
Volume: 13.60M
Sept. 21, 2020 4:00p
P/E Ratio
84.08
Dividend Yield
N/A
Market Cap
$206.58 billion
Rev. per Employee
$710,138
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/zigman2/quotes/205335941/composite
US : U.S.: NYSE
$ 64.05
-3.58 -5.29%
Volume: 4.00M
Sept. 21, 2020 4:00p
P/E Ratio
163.39
Dividend Yield
2.81%
Market Cap
$34.39 billion
Rev. per Employee
$890,245
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/zigman2/quotes/208872451/composite
US : U.S.: NYSE
$ 319,534
-8,067 -2.46%
Volume: 467.00
Sept. 21, 2020 4:00p
P/E Ratio
23.34
Dividend Yield
N/A
Market Cap
$521.32 billion
Rev. per Employee
$637,113
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/zigman2/quotes/200060694/composite
US : U.S.: NYSE
$ 213.02
-5.19 -2.38%
Volume: 8.09M
Sept. 21, 2020 4:02p
P/E Ratio
23.33
Dividend Yield
N/A
Market Cap
$521.32 billion
Rev. per Employee
$637,113
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/zigman2/quotes/203790192/composite
US : U.S.: NYSE
$ 24.04
-1.09 -4.34%
Volume: 55.89M
Sept. 21, 2020 4:02p
P/E Ratio
27.48
Dividend Yield
1.66%
Market Cap
$103.54 billion
Rev. per Employee
$392,114
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/zigman2/quotes/200181610/composite
US : U.S.: NYSE
$ 64.98
-2.87 -4.23%
Volume: 2.66M
Sept. 21, 2020 4:02p
P/E Ratio
20.29
Dividend Yield
3.08%
Market Cap
$40.55 billion
Rev. per Employee
$202,731
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