Per David Tepper and his Appaloosa Management 13F, he was a bit active before the election. Of note, he was making big bets on technology stocks. However, he did sell off some 25% of his stake in Google (GOOG), which is still his second largest holding.
New stakes, Tepper was buying up Yahoo (YHOO), Facebook (FB) and Apple (AAPL). Google is still the big bet, however, worth some $400 million. Facebook and Apple are worth about $200 million and $100 million, respectively, in the Tepper portfolio.
He’s also made bets on the big banks – notably buying up Citi (C) and Bank of America (BAC). He dumped his notable hospital bet – Community Health (CYH). He also made a large bet on the SPDR S&P 500 ETF, adding 2.5 million shares – now having a $550 million bet.
Prescience Partners returned 6.75% for the second quarter, underperforming the S&P 500's 8.55% return but coming out ahead of the Barclay Equity Long/ Short Index's 2.62% return. However, for the first six months of the year, Prescience is up 30.66%, doubling the S&P's 15.25% return and smashing the Barclay Equity Long/ Short Index's 9.27% return. Read More