Billionaire David Tepper’s 5 Newest Stock Picks

2. PulteGroup, Inc. (NYSE:PHM)

Appaloosa Management LP’s Stake Value: $82,356,000
Percent of Appaloosa Management LP’s 13F Portfolio: 1.7%
Number of Hedge Fund Holders: 34

PulteGroup, Inc. (NYSE:PHM) is an American home construction company that operates in 44 markets and in 23 states. The company stands second on our list of billionaire David Tepper’s newest stock picks. 

In Q2 2021, Appaloosa Management started building its position in PulteGroup, Inc. (NYSE:PHM) with 1.5 million shares, valued at over $82.3 million. The company represents 1.7% of the hedge fund’s 13F portfolio. In July, BTIG lifted its price target on PulteGroup, Inc. (NYSE:PHM) to $77, while keeping a ‘Buy’ rating on the shares. The company pays an annual dividend of $0.56 per share, yielding 1.17%. Since the beginning of the year, PulteGroup, Inc. (NYSE:PHM) delivered a 13.4% return to shareholders. 

As of Q2 2021, 34 hedge funds tracked by Insider Monkey have positions in PulteGroup, Inc. (NYSE:PHM), compared with 42 in the previous quarter. The total value of these stakes is $948.5 million.