David Tepper’s fund Appaloosa took a number of new strikes in most communications services, technology and payment platforms over the past 45 days, according to regulatory filings filed with the Securities and Exchange Commission on Friday, known as 13Fs. Appaloosa has acquired more than 9 million shares in AT&T T,
worth $ 274 million, but also acquired 840,000 shares of Visa Inc. V,
valued at $ 162.3 million, 545,000 shares of Mastercard MA,
worth $ 161 million, and 870,000 shares of payment company PayPal Holdings PYPL,
as $ 151.6 million. Tepper’s fund also acquired 1.2 million shares of Disney at $ 133 million and 1.9 million shares of food service company Sysco Corp. SYY,
worth $ 102.5 million. Appaloosa also bought 1.6 million shares of Altria Group Inc. for about $ 61 million, representing a new position in the tobacco industry. Incidentally, while the 13F footage for Berkshire Hathaway by Warren Buffett BRK.A,
BRK.B,
was more than a quarter of his position in Wells Fargo & Co.
Tepper increased its position by more than 170%, buying 1.2 million shares of the bank in San Francisco, representing 0.8% of Appaloosa’s total portfolio out of 0.6%. The company also acquired 1.4 million shares of Emerson Electric Co. EMR,
worth $ 87 million, about 1.5% of the fund’s portfolio. Large investors should disclose long-term equity positions held at the end of a quarter 45 days later in a 13F entry with the SEC, which means that such announcements are only a snapshot of an investor attitude at any given point.
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