Billionaire David Tepper’s Top 5 Stock Holdings

1. PG&E Corporation (NYSE: PCG)

David Tepper’s hedge fund has been holding a position in PG&E Corporation (NYSE: PCG) since 2017 and it was the largest stock holding of Tepper’s portfolio at the end of the September quarter. The hedge fund has raised its stake by 803% in the September quarter to 13.41% of the overall portfolio. Shares of PG&E Corporation underperformed in 2020.

Baupost Group has highlighted few stocks including PG&E Corporation in an investor’s letter. Here is what Baupost Group stated:

“Fortunately, our investment in the subrogation claims and equity of Pacific Gas and Electric, the firm’s largest position, was not impacted by the COVID-19 fallout. As we expected, PG&E’s bankruptcy plan was confirmed by the judge overseeing the case, and the company emerged from bankruptcy on July 1st. Importantly, upon emergence, cash was placed in a trust for the benefit of the subrogation creditors. A substantial initial distribution from this trust, estimated to be roughly 80% of anticipated recoveries, is expected to be paid later this month.”

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