News about David Tepper

David Tepper's Appaloosa fund rose 32% through the first half of the year, driven by concentrated bets on a few stocks, with about 40% of its public equity portfolio in three names per its latest 13-F filing. Amazon is its largest holding; Tepper doubled his stake in the first quarter and added in the second, while the article notes Amazon's free cash flow turned negative from heavy AWS spending and shares trade at 30 times forward earnings. Micron rose more than 300% in the first half and Tepper trimmed his stake by about 41% last quarter, but it remains a top holding as a severe supply shortage persists and equilibrium may not arrive until at least 2029. Taiwan Semiconductor, whose stake rose 61% over the year, trades at 25 times forward earnings.