1380:
1370:
1360:
1390:
1067:
27:
200:. Throughout the 1990s, the firm was known as a junk bond investment boutique, and through the 2000s it was known as a hedge fund. In March 2021, David Tepper said it's increasingly difficult to be bearish on stock rights now, feeling that rising rates are set to stabilize, and that the sell off in treasuries that has driven rates up is probably over.
362:
The
Palomino Fund from its inception in 1995 to 1998 had a 25 percent return. After Russia defaulted, the fund lost 49 percent of its value between February and September 1998. The fund returned –26.7% percent in 2008 and 117.3 percent in 2009. The company was ranked by Bloomberg Markets as the
267:
reported total assets under management of $ 14 billion. In 2010, it was reported that since 1993 Appaloosa
Management had returned $ 12.4 billion to clients—ranking it sixth on a ranking of total returns to clients by managers since inception.
330:, corporations, foreign governments, foundations, universities, and other organizations." Investors commit to a locked period of three years during which their withdrawals are limited to 25 percent of their total investment.
585:
613:
478:
773:
1424:
426:
1414:
603:
1363:
818:
683:
279:
that could have been used to trade improperly in the bank's debt. In 2011, the company was awarded the
Institutional Hedge Fund Firm of the Year award.
1419:
792:
1340:
1244:
371:
In 2001, the fund was up 67 percent followed the next year losing 25 percent. In 2003 the fund saw 149 percent returns for investors.
271:
In
September 2011, a Delaware bankruptcy court found that Appaloosa Management is one of four hedge funds that had played a role in
455:
237:, the bankrupt car parts supplier, and its clashes on whether management has the shareholders best interests in mind or those of
944:
886:
298:
Appaloosa
Management's investments focus on undiversified concentrated investment positions. Appaloosa invests in the global
430:
208:
In the fourth quarter of 2002, Appaloosa
Management returns were heavily a result of junk-bond and distressed debt bets in
559:
742:
717:
589:
691:
1383:
1218:
844:
1206:
260:
From 2009 to 2010, Appaloosa
Management's assets under management grew from $ 5 billion to $ 12 billion.
114:
917:
1345:
1289:
1008:
935:
879:
323:
1182:
1052:
504:
1284:
1192:
1187:
1151:
1048:
1012:
224:
134:
126:
120:
653:
1294:
1091:
964:
940:
925:
213:
306:
markets with a focus on "equities and debt of distressed companies, bonds, exchange warrants,
1319:
977:
949:
930:
47:
1429:
1373:
1224:
1136:
972:
954:
872:
283:
86:
8:
1393:
1299:
1279:
1106:
1081:
327:
197:
37:
532:
1304:
1249:
1161:
604:"David Tepper is getting bullish on stocks, believes rising rates are set to stabilize"
264:
234:
1027:
1003:
987:
307:
272:
1196:
1131:
311:
1335:
1239:
1229:
1210:
1177:
1101:
1096:
1032:
1017:
363:
top performing fund of any hedge fund manager managing over one billion dollars.
229:
196:
and Jack Walton, founded
Appaloosa Management, an employee-owned hedge fund, in
176:
and Jack Walton specializing in distressed debt. Appaloosa
Management invests in
233:
reports the company has "attracted interest for its large ownership position in
1234:
1214:
982:
238:
351:
1408:
1309:
1274:
1200:
299:
177:
750:
586:"David Tepper's Appaloosa Management Among First Quarter Hedge Fund Leaders"
1314:
1269:
1156:
1141:
1022:
383:
319:
303:
276:
193:
181:
173:
75:
793:"Institutional Investor's 9th Annual Hedge Fund Industry Awards – Winners"
1146:
1086:
895:
498:
496:
494:
492:
427:"Appaloosa Management L.P.: Private Company Information - BusinessWeek"
169:
26:
912:
315:
1066:
489:
479:"The 23nd Annual Ranking of the Highest-Earning Hedge Fund Managers"
338:
Appaloosa
Management manages four investment vehicles: the offshore
253:
Appaloosa survived the financial crisis of 2008 with relatively few
254:
819:"Tepper Turns Panic to Profits With $ 6.5 Billion Hedge Fund Gain"
287:
209:
864:
456:"Billionaire to save hundreds of millions from Florida move"
282:
In January 2016, Appaloosa's headquarters were relocated to
608:
774:"Judge Says Hedge Funds May Have Used Inside Information"
242:
630:
Taub, Stephen (July 2004). "The Bucks Stop Here Alpha".
845:"Simons, Mandel Post Biggest Drop in Hedge Fund Slump"
810:
505:"100 Hedge funds to watch - FT Special on Hedge Funds"
772:
Duhigg, Charles; Lattman, Peter (14 September 2011).
743:"Soros, Paulson Post Biggest Returns Since Inception"
248:
1425:
Investment management companies of the United States
735:
647:
645:
643:
641:
350:. A complete list of current holdings can be found
203:
154:
675:
1415:Financial services companies established in 1993
1406:
711:
709:
638:
836:
718:"For Tepper, Washington Is an Investment Guide"
625:
623:
551:
421:
419:
417:
415:
413:
411:
409:
407:
405:
880:
771:
706:
784:
620:
583:
1364:Alternative investment management companies
1341:Standards Board for Alternative Investments
402:
392:Jeffrey L. Kaplan, Chief Operating Officer.
389:Michael L. Palmer, Chief Financial Officer,
333:
1389:
1245:Taxation of private equity and hedge funds
887:
873:
25:
560:"In Junk Bond Funds, Risk Often Paid Off"
557:
366:
342:, an offshore and onshore version of its
790:
715:
502:
275:restructuring which might have received
817:Richard, Teitelbaum (January 4, 2010).
816:
527:
525:
1407:
842:
651:
558:Middleton, Timothy (January 5, 1997).
449:
447:
293:
1420:Hedge fund firms of the United States
945:fixed-income relative-value investing
868:
684:"Absolute Return Billion Dollar Club"
682:Allen, Katrina Dean (March 1, 2010).
681:
453:
322:, the firm's client base consists of
749:. September 13, 2010. Archived from
716:Raghavan, Anita (November 9, 2010).
629:
522:
476:
843:Burton, Katherine (April 8, 2008).
533:"The Rankings The hedge-fund elite"
444:
216:that the market was bottoming out.
13:
249:2008 financial crisis through 2011
14:
1441:
374:
1388:
1379:
1378:
1369:
1368:
1359:
1358:
1065:
616:from the original on 2021-03-08.
503:Robinson, Gwen (27 April 2007).
357:
227:in 2007 were $ 5.3 billion. The
204:2002 Conseco & Marconi Corp.
894:
765:
584:Stephen Taub (April 13, 2010).
477:Taub, Stephen (27 March 2024).
454:Frank, Robert (April 6, 2016).
596:
577:
470:
379:The company leaders include:
219:
1:
791:Gravrand, B. (23 June 2011).
396:
1219:security characteristic line
346:fund, and its flagship fund
7:
1207:Capital asset pricing model
926:Capital structure arbitrage
59:; 31 years ago
10:
1446:
1009:Commodity trading advisors
688:AR Absolute Return - Alpha
324:high-net-worth individuals
187:
184:markets around the world.
1354:
1346:Managed Funds Association
1328:
1290:High-net-worth individual
1262:
1170:
1124:
1115:
1074:
1063:
1041:
996:
963:
911:
902:
510:. Financial Times. Nikkei
149:
133:
107:
97:
81:
71:
53:
43:
33:
24:
1183:Arbitrage pricing theory
386:, Founder and President,
334:Products and performance
277:confidential information
1295:Institutional investors
1188:Assets under management
1013:managed futures account
225:Assets under management
1320:Sovereign wealth funds
1092:High-frequency trading
941:Fixed income arbitrage
654:"Bullish at the Brink"
590:Institutional Investor
483:Institutional Investor
367:Appaloosa Investment I
1162:Structured securities
978:Distressed securities
950:Statistical arbitrage
936:Equity market neutral
931:Convertible arbitrage
652:Teitelbaum, Richard.
48:Investment Management
1280:Financial endowments
1225:Fundamental analysis
973:Shareholder activism
955:Volatility arbitrage
348:Appaloosa Investment
328:profit sharing plans
166:Appaloosa Management
87:Miami Beach, Florida
20:Appaloosa Management
1394:List of hedge funds
1384:Hedge fund managers
1300:Insurance companies
1285:Fund of hedge funds
1193:Black–Scholes model
1107:Proprietary trading
1082:Algorithmic trading
1049:Fund of hedge funds
694:on 27 December 2010
663:. Bloomberg Markets
294:Investment strategy
273:Washington Mutual's
257:redemption orders.
198:Chatham, New Jersey
172:founded in 1993 by
38:Limited Partnership
21:
16:American hedge fund
1250:Technical analysis
778:The New York Times
265:the New York Times
263:In November 2010,
145:billion (Dec 2023)
19:
1402:
1401:
1258:
1257:
1061:
1060:
1028:Long/short equity
1004:Convergence trade
988:Special situation
753:on 2 October 2011
537:New York Magazine
433:on April 12, 2008
340:Palomino Fund LTD
163:
162:
1437:
1392:
1391:
1382:
1381:
1372:
1371:
1362:
1361:
1305:Investment banks
1152:Foreign exchange
1122:
1121:
1069:
909:
908:
889:
882:
875:
866:
865:
860:
859:
857:
855:
840:
834:
833:
831:
829:
814:
808:
807:
805:
803:
788:
782:
781:
769:
763:
762:
760:
758:
747:FIN Alternatives
739:
733:
732:
730:
728:
713:
704:
703:
701:
699:
690:. Archived from
679:
673:
672:
670:
668:
658:
649:
636:
635:
627:
618:
617:
612:. 8 March 2021.
600:
594:
593:
581:
575:
574:
572:
570:
555:
549:
548:
546:
544:
529:
520:
519:
517:
515:
509:
500:
487:
486:
474:
468:
467:
465:
463:
451:
442:
441:
439:
438:
429:. Archived from
423:
318:." According to
159:
156:
144:
141:
125:Jeffrey Kaplan (
119:Michael Palmer (
67:
65:
60:
29:
22:
18:
1445:
1444:
1440:
1439:
1438:
1436:
1435:
1434:
1405:
1404:
1403:
1398:
1350:
1336:Fund governance
1324:
1254:
1178:Absolute return
1166:
1117:
1111:
1102:Program trading
1097:Prime brokerage
1070:
1057:
1037:
1033:Trend following
1018:Dedicated short
992:
959:
916:
904:
898:
893:
863:
853:
851:
841:
837:
827:
825:
815:
811:
801:
799:
789:
785:
770:
766:
756:
754:
741:
740:
736:
726:
724:
714:
707:
697:
695:
680:
676:
666:
664:
656:
650:
639:
628:
621:
602:
601:
597:
582:
578:
568:
566:
556:
552:
542:
540:
531:
530:
523:
513:
511:
507:
501:
490:
475:
471:
461:
459:
452:
445:
436:
434:
425:
424:
403:
399:
377:
369:
360:
336:
296:
251:
230:Financial Times
222:
206:
190:
168:is an American
153:
142:
139:
124:
118:
110:
100:
93:
89:
63:
61:
58:
17:
12:
11:
5:
1443:
1433:
1432:
1427:
1422:
1417:
1400:
1399:
1397:
1396:
1386:
1376:
1366:
1355:
1352:
1351:
1349:
1348:
1343:
1338:
1332:
1330:
1326:
1325:
1323:
1322:
1317:
1312:
1310:Merchant banks
1307:
1302:
1297:
1292:
1287:
1282:
1277:
1275:Family offices
1272:
1266:
1264:
1260:
1259:
1256:
1255:
1253:
1252:
1247:
1242:
1237:
1235:Securitization
1232:
1227:
1222:
1204:
1190:
1185:
1180:
1174:
1172:
1168:
1167:
1165:
1164:
1159:
1154:
1149:
1144:
1139:
1134:
1128:
1126:
1119:
1113:
1112:
1110:
1109:
1104:
1099:
1094:
1089:
1084:
1078:
1076:
1072:
1071:
1064:
1062:
1059:
1058:
1056:
1055:
1045:
1043:
1039:
1038:
1036:
1035:
1030:
1025:
1020:
1015:
1006:
1000:
998:
994:
993:
991:
990:
985:
983:Risk arbitrage
980:
975:
969:
967:
961:
960:
958:
957:
952:
947:
938:
933:
928:
922:
920:
918:relative value
906:
900:
899:
892:
891:
884:
877:
869:
862:
861:
835:
809:
783:
764:
734:
722:New York Times
705:
674:
637:
619:
595:
576:
564:New York Times
550:
521:
488:
469:
443:
400:
398:
395:
394:
393:
390:
387:
376:
375:Administration
373:
368:
365:
359:
356:
335:
332:
326:, pension and
295:
292:
250:
247:
221:
218:
205:
202:
189:
186:
161:
160:
151:
147:
146:
137:
131:
130:
113:David Tepper (
111:
108:
105:
104:
101:
98:
95:
94:
91:
85:
83:
79:
78:
73:
69:
68:
55:
51:
50:
45:
41:
40:
35:
31:
30:
15:
9:
6:
4:
3:
2:
1442:
1431:
1428:
1426:
1423:
1421:
1418:
1416:
1413:
1412:
1410:
1395:
1387:
1385:
1377:
1375:
1367:
1365:
1357:
1356:
1353:
1347:
1344:
1342:
1339:
1337:
1334:
1333:
1331:
1327:
1321:
1318:
1316:
1315:Pension funds
1313:
1311:
1308:
1306:
1303:
1301:
1298:
1296:
1293:
1291:
1288:
1286:
1283:
1281:
1278:
1276:
1273:
1271:
1270:Vulture funds
1268:
1267:
1265:
1261:
1251:
1248:
1246:
1243:
1241:
1238:
1236:
1233:
1231:
1228:
1226:
1223:
1220:
1216:
1212:
1208:
1205:
1202:
1201:delta neutral
1198:
1194:
1191:
1189:
1186:
1184:
1181:
1179:
1176:
1175:
1173:
1169:
1163:
1160:
1158:
1157:Money markets
1155:
1153:
1150:
1148:
1145:
1143:
1140:
1138:
1135:
1133:
1130:
1129:
1127:
1123:
1120:
1114:
1108:
1105:
1103:
1100:
1098:
1095:
1093:
1090:
1088:
1085:
1083:
1080:
1079:
1077:
1073:
1068:
1054:
1053:Multi-manager
1050:
1047:
1046:
1044:
1040:
1034:
1031:
1029:
1026:
1024:
1021:
1019:
1016:
1014:
1010:
1007:
1005:
1002:
1001:
999:
995:
989:
986:
984:
981:
979:
976:
974:
971:
970:
968:
966:
962:
956:
953:
951:
948:
946:
942:
939:
937:
934:
932:
929:
927:
924:
923:
921:
919:
914:
910:
907:
901:
897:
890:
885:
883:
878:
876:
871:
870:
867:
850:
846:
839:
824:
820:
813:
798:
794:
787:
779:
775:
768:
752:
748:
744:
738:
723:
719:
712:
710:
693:
689:
685:
678:
662:
661:February 2010
655:
648:
646:
644:
642:
633:
626:
624:
615:
611:
610:
605:
599:
591:
587:
580:
565:
561:
554:
539:. Apr 9, 2007
538:
534:
528:
526:
506:
499:
497:
495:
493:
484:
480:
473:
457:
450:
448:
432:
428:
422:
420:
418:
416:
414:
412:
410:
408:
406:
401:
391:
388:
385:
382:
381:
380:
372:
364:
358:Palomino Fund
355:
353:
349:
345:
341:
331:
329:
325:
321:
317:
314:, notes, and
313:
309:
305:
301:
300:public equity
291:
289:
285:
280:
278:
274:
269:
266:
261:
258:
256:
246:
244:
240:
236:
232:
231:
226:
217:
215:
214:Marconi Corp.
211:
201:
199:
195:
185:
183:
179:
178:public equity
175:
171:
167:
158:
152:
148:
138:
136:
132:
128:
122:
116:
112:
106:
102:
96:
88:
84:
80:
77:
74:
70:
56:
52:
49:
46:
42:
39:
36:
32:
28:
23:
1147:Fixed income
1023:Global macro
965:Event-driven
852:. Retrieved
848:
838:
826:. Retrieved
822:
812:
800:. Retrieved
796:
786:
777:
767:
755:. Retrieved
751:the original
746:
737:
725:. Retrieved
721:
696:. Retrieved
692:the original
687:
677:
665:. Retrieved
660:
631:
607:
598:
579:
567:. Retrieved
563:
553:
541:. Retrieved
536:
512:. Retrieved
482:
472:
460:. Retrieved
435:. Retrieved
431:the original
384:David Tepper
378:
370:
361:
347:
344:Thoroughbred
343:
339:
337:
320:BusinessWeek
304:fixed income
297:
281:
270:
262:
259:
252:
228:
223:
207:
194:David Tepper
191:
182:fixed income
174:David Tepper
165:
164:
82:Headquarters
76:David Tepper
34:Company type
1430:Hedge funds
1374:Hedge funds
1137:Derivatives
1132:Commodities
1087:Day trading
997:Directional
896:Hedge funds
462:29 November
284:Miami Beach
220:2007 Delphi
99:Area served
1409:Categories
1329:Governance
903:Investment
437:2013-04-17
397:References
316:junk bonds
170:hedge fund
109:Key people
1263:Investors
913:Arbitrage
849:Bloomberg
823:Bloomberg
797:Opalesque
757:14 August
569:14 August
192:In 1993,
115:President
103:Worldwide
905:strategy
614:Archived
514:22 April
255:investor
241:and the
44:Industry
1125:Markets
1116:Related
1075:Trading
854:26 July
828:27 July
802:26 July
727:25 July
698:26 July
667:11 July
543:25 July
312:futures
308:options
288:Florida
210:Conseco
188:History
150:Website
72:Founder
62: (
54:Founded
1197:Greeks
1142:Equity
458:. CNBC
235:Delphi
143:
140:US$ 17
1240:Short
1230:Hedge
1211:alpha
1118:terms
1042:Other
657:(PDF)
632:Alpha
508:(PDF)
1215:beta
1171:Misc
856:2011
830:2011
804:2011
759:2011
729:2011
700:2011
669:2011
609:CNBC
571:2011
545:2011
516:2010
464:2017
352:here
302:and
212:and
180:and
157:.com
155:amlp
92:U.S.
64:1993
57:1993
245:."
243:UAW
135:AUM
127:COO
121:CFO
1411::
1217:/
1213:/
1199::
1051:/
1011:/
943:/
847:.
821:.
795:.
776:.
745:.
720:.
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440:.
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117:)
66:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
