These were the top 10 stocks in billionaire investor David Tepper’s hedge fund in the 2nd quarter

• Since the start of the COVID-19 pandemic, David Tepper has been wary of the market and its recent strength.
• In May, Tepper said the stock market was the most overvalued in history, second to the dot-com bubble.
• Still, Tepper’s hedge fund Appaloosa has remained invested in stocks throughout the pandemic, according to a 13F filed with the SEC last week.
• Here were the top 10 holdings of Appaloosa Management in the second quarter.
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Back in May, amid the height of the COVID-19 pandemic and a recovering stock market, billionaire investor David Tepper added to a chorus of concerns that the stock market was overvalued.

In fact, Tepper told CNBC’s Scott Wapner that the market was “maybe the second most overvalued” he’s ever seen, barring the dot-com bubble.

From there, stocks continued to rally, and just hit record all-time highs earlier this week.

Luckily, Tepper’s hedge fund, Appaloosa Management, stayed invested in the market. The fund had a long portfolio valued at $5.7 billion as of the second quarter, according to a 13F filed with the Securities and Exchange Commission last week.

Here were the top 10 holdings of Appaloosa Management in the second quarter.

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10. Mastercard

Ticker: MA Market Value: $161.2 million Percent of Portfolio: 2.80% Change in Ownership: New position

9. Visa

Ticker: V Market Value: $162.2 million Percent of Portfolio: 2.82% Change in Ownership: New position

8. Twitter

Ticker: TWTR Market Value: $165.3 million Percent of Portfolio: 2.87% Change in Ownership: Added +20,000 shares (+0%)

7. AT&T

Ticker: T Market Value: $274.4 million Percent of Portfolio: 4.77% Change in Ownership: New position

6. Alphabet

Ticker: GOOG Market Value: $472.1 million Percent of Portfolio: 8.20% Change in Ownership: Sold 27,000 shares (-7%)

5. Micron Technology

Ticker: MU Market Value: $481.7 million Percent of Portfolio: 8.37% Change in Ownership: Added +490,000 shares (+5%)

4. Facebook

Ticker: FB Market Value: $507.0 million Percent of Portfolio: 8.81% Change in Ownership: Sold 180,000 shares (-7%)

3. T-Mobile

Ticker: TMUS Market Value: $614.5 million Percent of Portfolio: 10.67% Change in Ownership: Added +5.1 million shares (+666%)

2. Amazon

Ticker: AMZN Market Value: $620.7 million Percent of Portfolio: 10.78% Change in Ownership: Sold 25,000 shares (-10%)

1. Alibaba

Ticker: BABA Market Value: $727.9 million Percent of Portfolio: 12.64% Change in Ownership: Added +1.1 million shares (+49%)

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