Billionaire David Tepper’s Investment Strategy and 5 Favorite Stocks

In this piece, we will take a look at billionaire David Tepper’s investment strategy and five favorite stocks. If you want to learn more about the hedge fund and its founder, then check out Billionaire David Tepper’s Investment Strategy and 10 Favorite Stocks.

5. Meta Platforms, Inc. (NASDAQ:META)

Appaloosa Management’s Q1 2023 Investment: $148.4 million

Share Price Gains Since March 2023: 38%

Meta Platforms, Inc. (NASDAQ:META) is one of the largest social media companies in the world. It owns Facebook, Instagram, and the instant messaging service WhatsApp. It has also launched a new social media service called Threads, which allows users to share short snippets like Twitter.

David Tepper’s Appaloosa Management had owned 700,000 Meta Platforms, Inc. (NASDAQ:META) shares during this year’s March quarter, allowing it to hold a $148.4 million investment. Cumulatively, 220 of the 943 hedge funds polled by Insider Monkey had also owned a stake in the same time period, out of which the largest shareholder is Philippe Laffont’s Coatue Management since it has a $1.7 billion investment.

4. Constellation Energy Corporation (NASDAQ:CEG)

Appaloosa Management’s Q1 2023 Investment: $164 million

Share Price Gains Since March 2023: 19%

Constellation Energy Corporation (NASDAQ:CEG) is a utility company that sells electricity in America. It has an average share price target of $99.67, for some upside over the current share price of $93.60.

53 of the 943 hedge funds polled by Insider Monkey for their first quarter of 2023 shareholdings had invested in Constellation Energy Corporation (NASDAQ:CEG) as of March 2023. Mr. Tepper’s hedge fund had invested $164 million in the company during the same time period, and the company’s biggest shareholder is William B. Gray’s Orbis Investment Management through its $424 million stake.

3. Uber Technologies, Inc. (NYSE:UBER)

Appaloosa Management’s Q1 2023 Investment: $190 million

Share Price Gains Since March 2023: 35%

Uber Technologies, Inc. (NYSE:UBER) is a ride sharing platform that allows users to connect with drivers. Its shares are up by a whopping 102% over the past twelve months, and since March, they have added 35% to their value.

Appaloosa Management owned six million Uber Technologies, Inc. (NYSE:UBER) shares during this year’s first quarter, allowing it to own a $190 million stake. Overall, out of the 943 hedge funds part of Insider Monkey’s database 144 had owned the firm’s shares during the same time period. Uber Technologies, Inc. (NYSE:UBER)’s largest hedge fund shareholder is Ken Fisher’s Fisher Asset Management with its $658 million investment.

2. Amazon.com, Inc. (NASDAQ:AMZN)

Appaloosa Management’s Q1 2023 Investment: $206.5 million

Share Price Gains Since March 2023: 23%

Amazon.com, Inc. (NASDAQ:AMZN) is the largest electronic commerce firm in the world. Despite its mega cap status, the firm’s shares are rated as Strong Buy on Average. All of the six latest analyst notes covering the shares have rated them as Buy or Overweight.

243 of the 943 hedge funds surveyed by Insider Monkey for their Q1 2023 shareholdings had bought Amazon.com, Inc. (NASDAQ:AMZN)’s shares. Among these, Mr. Tepper’s hedge fund owned two million shares that are worth $206.5 million, while the largest shareholder is Ken Fisher’s Fisher Asset Management with a $4.2 billion stake.

1. Alphabet Inc. (NASDAQ:GOOG)

Appaloosa Management’s Q1 2023 Investment: $219 million

Share Price Gains Since March 2023: 12%

Alphabet Inc. (NASDAQ:GOOG) is another technology behemoth that provides a wide variety of services and products. The firm announced in July 2023 that it has partnered up with Mayo Clinic to use artificial intelligence in healthcare.

David Tepper’s Appaloosa Management owned 2.1 million Alphabet Inc. (NASDAQ:GOOG) shares during 2023’s first quarter, providing it with a $219 million investment. During the same time period, 155 out of 943 hedge funds part of Insider Monkey’s database had also invested in the company. Alphabet Inc. (NASDAQ:GOOG)’s largest hedge fund shareholder is Ken Fisher’s Fisher Asset Management owning $4.3 billion worth of shares.

Disclosure: None. You can also take a look at 30 Most Profitable Businesses With Low Startup Costs and 25 US Companies With The Highest Profit Margins.

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