저자: 미상 · 외국인
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결론: 영상은 David Tepper의 2020년 13F 포트폴리오를 분석하며, 그의 보유 종목 특성과 기술주 비중에 대한 시각을 소개한다. 인물 소개: Tepper는 Appaloosa Management 창업자이자 Carolina Panthers 구단주로, 순자산 약 120억 달러로 소개된다. 2001년 시장 급락기에 61% 수익을 냈다고 언급된다. 신규 매수: T-Mobile(포트폴리오의 약 9.28%, Sprint 전환분 포함), AT&T(약 4.77%)를 매수했다고 설명된다. Visa, Mastercard, PayPal 비중도 소폭 늘렸다. 매도 및 축소: Alibaba 일부 매도(언급 맥락상 Allergan 전량 매도 3.77%), Amazon·Facebook·Google 소폭 축소, Tesla 83% 감축이 언급된다. 대형 빅테크에 대한 강세 기조는 유지되는 것으로 묘사된다. 상위 보유: Amazon, Alibaba, T-Mobile이 상위 3개로 10% 이상 비중이며, 상위 5개가 약 50%를 차지한다. Facebook, Micron도 주요 보유로 언급된다. 섹터 구성: 기술 섹터가 포트폴리오의 절반 가까이를 차지한다고 분석된다. 전망 및 리스크: Tepper는 기술주 과열 자체보다 소형·신생 기술주(이른바 'Pets.com' 유형)의 고평가가 문제라고 보는 것으로 전해진다. 대형 네트워크 효과 기업은 선호하나 수익성 없는 소형 기술주에는 회의적이라는 해석이다. 이는 과거 발언 인용이며 1~3개월 가격 예측은 아니다. 투자 시사점: 종목 선택뿐 아니라 포지션 사이징의 중요성이 강조된다. 영상은 데이터 사이트 참고와 본인 리서치를 권장한다.
다듬은 글
welcome back to red's roundup in this video we're going to be looking at david tepper's portfolio as of 2020. let's get right into it so first off you may be wondering who the heck is david pepper how did he get his money why is he so successful so he is head of allopalooza management he founded the firm in around 1993 after working at goldman sachs and they didn't promote him and boy was that a mistake he's now also the owner of the carolina panthers and a major league soccer team in the united states in carolina so he has 12 billion dollars of net worth which is quite a lot and like i said before he's the owner of the carolina panthers a fairly successful nfl franchise uh he's a legendary manager of alloplus management posting market beating returns it's it's pretty incredible if you look at his returns in 2001 when the market was crashing he posted a 61 return which is pretty impressive 61 wow so we're going to be looking at some of his portfolio buys sells and what his top holdings are so first off let's look at his changes in terms of what he bought so he bought quite a bit of cell phone and wireless network stocks we have t-mobile which he had a sizeable portion of that was sprint and that got converted to t-mobile when the merger took place and as well as at t he bought at t this quarter and actually a massive position here on this side we see the percentage impact on his portfolio so a t is four point seven seven percent of his portfolio t-mobile is nine point two eight percent uh increase that is because this is a new buy alibaba he bought a little bit more of visa mastercard and paypal so these three companies are some of the um banking tech stocks you might say financial tech visa mastercard and paypal payment processors that don't actually do banking but they're intermediaries of sorts and very very effective businesses at generating cash and then here at the bottom we have a few more the main one i want to point out i also i do like cisco and disney as picks very interesting pecks i've thought about cisco quite a bit thought about making a video on them as well very good pick but at the bottom we have ultria i've made a video on that i'd encourage you to go check out the ultra group video it's one of my top videos in my opinion he just bought quite a bit of this and as we see here a lot of his stocks that he buys he's not afraid to add more to and these are only his top buys and square at the bottom sorry about that we can't see so moving on we have his portfolio changes in terms of what he sold during this quarter so we have allergen he sold out of them and that was a 3.77 of his total 13f filing portfolio and then we have sprint which was converted into t-mobile when they merged and here we have some tech names i highlighted in yellow the three tech names we have amazon facebook and google now a lot of people are very bullish on these stocks including people like joel greenblatt who's another terrific investor um so we see here amazon he just sold a little bit of them he's he's reducing the position a little more it really didn't have that big of an impact on his portfolio as a whole but in terms of these positions it's semi-sizable and then he had a small position in tesla which he trimmed quite significantly he trimmed it down 83 percent probably near the highs i just have to assume so this is what he sold he's still very bullish on big tech so now we're gonna look at his top seven holdings just to get an overview of what he's most concentrated and we're gonna see from his portfolio next when we look at the total concentration that he's concentrated but at the same time has some diversification so we see between his top three holdings that's more than 30 percent of his portfolio those are some concentrated picks that he must really believe in amazon and alibaba the two biggest ones as well as t-mobile coming in third making up over 10 so these are his three biggest picks he believes these are his best picks in the market right now but then we also add some more technology companies all of these names are market disrupting tech companies in some ways but then also have different quirks to them so we see amazon and alibaba are the shipping companies of sorts fulfillment of products t-mobile is a tech company in terms of the new 5g technology and then continuing to develop the network components the mobile networks and then facebook is a is a tech company and everybody knows what facebook does and then micron this is one that i've thought about making a video on too tell me if you want me to leave a comment if you want me to make a video on micron they are a pseudo commodity play in the tech space they do memory components for computers so pretty interesting business here a lot of super investors think this is a good pick including monish pogbari and many others google what can you say about google a very dominant business and then a t another wireless holding company now here's a spreadsheet that i made of his portfolio it's a little bit more complex than what i just showed you i decided i would make it easy to look at first and now we're going to get more into the meat of things in terms of his holdings so i'd like to point out here just a few more of his holdings that i've noticed again ultra group one of my top picks and i think it's very interesting that he decided to buy in as well cisco another interesting one that i've thought a lot about over the past months during the coronavirus crisis it was it was on my mind let's just say that micron technology again another top super investor pick right there and then we also see here uh in picks number 24 through 38 just a lot of really small positions that are that are pretty interesting to me i don't necessarily understand what the point of having a position of um point eight percent of your portfolio is or point one percent i don't i don't really understand that but obviously he knows more than me i won't kid anybody here he's very smart man and i'd hope to learn from this just in terms of portfolio sizing because that's actually as important as the picks you make because if you ever heard warren buffett and berkshire hathaway if you just even weighted their their decision making you just put everything as even weight they would actually be fairly average it's actually the position weighting that made them famous so that's an interesting thing to point out here let's look at this pie chart i don't usually like pie charts but in this case i think it's it's an interesting thing just to visualize so we see here with his top holdings making up fifty percent of his portfolio is his top five holdings which is which is concentrated like a lot of investors but then also very very diversified on the back end so we have the names like alibaba amazon t-mobile facebook and micron really making up a big chunk of the portfolio and then we have the mid section where there are quite a few more names and then the last quarter there's there's just quite a few names it would take too much time to name them all i encourage you to go do your own research on a website called data roma which i used for this video it's a very good website um so yeah very interesting but then last chart i want to show you here is the sector analysis of his portfolio so we see here that he has almost half of his holdings in technology stocks and if you include information technology telecommunications and even i'm not sure if visa mastercard and paypal are in technology but they definitely could be and if if you include those in technology maybe it's even bigger so he's got in my opinion over half of his portfolio in tech stocks which is very interesting a lot of people think tech is overvalued but he's actually been on record i encourage you to check out this cnbc interview saying it's not the big tech that's overvalued necessarily it's really the the small and up and coming tech not necessarily super small but you know the names the data dogs of the world the tech companies that people think are going to be the next amazons facebook's microsoft and google but are more like the pets.com of their time so it's going to be really interesting to see how that plays out if it's going to play out like he says joel greenblatt says the same thing i'd like to point out that's an interesting thing these two super investors they agree a lot joel greenbat is overweight facebook google microsoft same thing with david tepper they believe in the large cap market advantaged with the network effects tech stocks but they don't actually believe in the smaller tech stocks like the data dogs like i said that need a long way to go before they're profitable but are right now being valued like they are amazon when who knows they probably won't be so that's a that's a that's some food for thought if you will um i encourage you to go check out data roma go look at some of david tepper's interviews they're very interesting very smart guy and he's gonna let you think for yourself too so i can appreciate that about somebody so thanks for watching tell me what you think um leave a comment as always give me a like if you liked it dislike if you didn't and subscribe if you want to see more thanks
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