More 13F stuff. Guru Focus does a nice job here giving us a glimpse into David Tepper‘s latest positions, he’s really bucking the trend here with the most unloved group I know of, the Homebuilders.
David Tepper of Appaloosa Management is hedge fund manager who specializes in distressed assets and rose to fame and prodigious fortune investing in financials during the credit crisis. Tepper tends to choose stocks in sectors others are fleeing. In 2009 he bought large stakes in banks, betting against popular opinion that the government would nationalize them, which resulted in 132% returns that added $7 billion to his fund. This quarter, he has reduced or sold out of his financial holdings and instead opted for investments in one of the most distressed industries around – home building. In the first quarter of 2011, he bought into KB Homes (KBH), D.R. Horton Inc. (DHI), Pulte Group Inc. (PHM), Beazer Homes USA Inc. (BZH), Ryland Group Inc. (RYL), and Masco Corp. (MAS).
You’re going to want to run over and check out the details of his buys, this is a major contrarian call.