Billionaire David Tepper owns the Carolina Panthers, one of the worst teams in the NFL. Heading into week 16, the Panthers are ranked out of 32 teams according to the latest NFL power rankings.
Fortunately for Tepper, he became a billionaire because of his investing prowess, not because of his ability to run a successful football team.
Tepper’s hedge fund, Appaloosa LP, finished September with $6.73 billion in assets invested in 38 stocks. The hedge fund’s largest holding is Alibaba (NYSE:BABA), which accounts for 15.76% of its portfolio.
Interestingly, Tepper’s firm made many changes during the third quarter, and Alibaba’s weighting increased by 352 basis points despite the hedge fund selling 500,000 BABA shares during the quarter.
However, the big move in Q3 2024 was Tepper dumping all 605,000 shares of United Parcel Service (NYSE:UPS) held, pouring all of the proceeds and then some into Vistra (NYSE:VST), one of America’s hottest utility stocks.
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