In this article, we will be looking at the 5 stocks that billionaire David Tepper is loading up on. If you want to see our comprehensive analysis of Tepper’s history, investment philosophy, and hedge fund performance, go directly to Billionaire David Tepper is Loading Up on These 10 Stocks.
5. T-Mobile US, Inc. (NASDAQ:TMUS)
Appaloosa Management’s Stake Value: $325.15 million
Appaloosa Management’s 13F Portfolio: 7.74%
Number of Hedge Fund Holders: 89
As of the third quarter, 89 hedge funds tracked by Insider Monkey held stakes in T-Mobile US, Inc. (NASDAQ:TMUS). In contrast, 100 hedge funds reported owning stakes in the company a quarter ago. According to 13F filings for the third quarter, Tepper’s fund owns 2.55 million shares in T-Mobile US, Inc. (NASDAQ:TMUS), having upped his stake by 1% over the last quarter.
The US-based communications company, which operates under T-Mobile and MetroPCS brands, reported earnings per share of $1.31, beating estimates by $0.82. Quarterly revenue of $19.62 billion underperformed estimates by 593.78 million.
On November 4, Morgan Stanley analyst Simon Flannery kept an ‘Overweight’ rating on T-Mobile US, Inc. (NASDAQ:TMUS) shares, raising the price target to $152 from $148.
4. Antero Resources Corporation (NYSE:AR)
Appaloosa Management’s Stake Value: $53.51 million
Appaloosa Management’s 13F Portfolio: 1.27%
Number of Hedge Fund Holders: 41
David Tepper’s 13F filings for the third quarter disclosed ownership of 2,845,263 shares worth $53.51 million in Antero Resources Corporation (NYSE:AR), up 60% from the last quarter where he owned 1.78 million shares in the company. Overall, 41 hedge funds monitored by Insider Monkey were bullish on Antero Resources Corporation (NYSE:AR) in Q3 2021, up from 33 in the preceding quarter.
Antero Resources Corporation (NYSE:AR) is an independent energy company that deals in the exploration and production of oil and natural gas. On October 26, Raymond James analyst John Freeman maintained a ‘Strong Buy’ rating on the company shares, setting a $32 price target, up from $19.
3. The Goodyear Tire & Rubber Company (NASDAQ:GT)
Appaloosa Management’s Stake Value: $92.04 million
Appaloosa Management’s 13F Portfolio: 2.19%
Number of Hedge Fund Holders: 37
The Goodyear Tire & Rubber Company (NASDAQ:GT) is another stock that David Tepper is loading up on. The US-based tire manufacturing giant gained 89.00% in the last year, and posted $4.93 billion in revenue for the third quarter, beating estimates by $270.20 million. David Tepper increased his holding in the company by 65% over the last quarter.
Out of 867 elite hedge funds tracked by Insider Monkey, 37 were bullish on The Goodyear Tire & Rubber Company (NASDAQ:GT) as of the end of the third quarter, up from 33 in the preceding quarter.
Earnings per share for the third quarter came in at $0.72 for The Goodyear Tire & Rubber Company (NASDAQ:GT), which beat consensus estimates by $0.45.
On November 10, Morgan Stanley analyst Victoria Greer raised the firm’s price target on The Goodyear Tire & Rubber Company (NASDAQ:GT) to $23 from $16, and reiterated an ‘Equal Weight’ rating on the company stock. The analyst noted that pricing dynamics were positive for the company heading into 2022, and there is visible scope for further synergies in the long term.
2. Macy’s, Inc. (NYSE:M)
Appaloosa Management’s Stake Value: $158.20 million
Appaloosa Management’s 13F Portfolio: 3.76%
Number of Hedge Fund Holders: 41
Macy’s, Inc. (NYSE:M) is a retail brand in the United States that sells apparel, accessories, home furnishings, footwear and clothing. Out of 867 hedge funds tracked by Insider Monkey, 41 hedge funds reported ownership of stakes in Macy’s, Inc. (NYSE:M) in the third quarter, worth a combined value of $1.47 billion. This shows increasing investor confidence in the company from the preceding quarter, where 35 hedge funds held $1.02 billion worth of stocks in the retail company.
As of the third quarter, David Tepper’s Appaloosa Management owns 7,000,000 shares in Macy’s, Inc. (NYSE:M), at a combined value of $158.20 million. Tepper’s holding in the company increased by 94% from the previous quarter, where he held 3.61 million shares
Macy’s, Inc. (NYSE:M) posted an EPS of $1.23 for the third quarter, beating analysts’ estimates by $0.90. The firm gained 128.67% in the last year, and posted a $5.44 billion revenue for Q3 2021 which exceeded consensus estimates by $205.38 million.
On November 19, Credit Suisse analyst Michael Binetti kept an ‘Underperform’ rating on Macy’s, Inc. (NYSE:M) stock, raising the price target to $32 from $19.
1. EQT Corporation (NYSE:EQT)
Appaloosa Management’s Stake Value: $58.31 million
Appaloosa Management’s 13F Portfolio: 1.38%
Number of Hedge Fund Holders: 57
David Tepper increased his stake in EQT Corporation (NYSE:EQT) by 168% in Q3 as compared to Q2 2021. In the third quarter, Tepper’s hedge fund reported owning 2,850,000 shares in the company, representing 1.38% of the fund’s overall portfolio with a value of $58.31 million. EQT Corporation (NYSE:EQT) deals in the production and transmission of natural gas in the United States, and is headquartered in Pennsylvania.
Hedge funds tracked by Insider Monkey were also seen loading up on EQT Corporation (NYSE:EQT) stock, with 57 hedge funds bullish on the company’s shares by the end of September, compared to 43 hedge funds by the end of June.
EQT Corporation (NYSE:EQT) posted an EPS of $0.12 for the third quarter, which beat analyst estimates by $0.17. The company’s stock jumped 37.43% in the last year, and 53.97% year to date as of December 4.
On November 19, research firm Morgan Stanley upgraded its rating on EQT Corporation (NYSE:EQT) stock to ‘Overweight’ from ‘Equal Weight’, raising the price target to $31 from $24.
You can also take a look at Aquamarine Capital’s Top 10 Stock Picks and Top 10 High Growth Stocks To Buy in 2021
