1373:
1363:
1353:
1383:
1060:
191:. 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.
353:
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
258:
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.
321:, 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.
578:
606:
1417:
1407:
1356:
766:
417:
1412:
596:
1333:
811:
676:
1237:
270:
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.
937:
879:
785:
362:
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.
582:
262:
In
September 2011, a Delaware bankruptcy court found that Appaloosa Management is one of four hedge funds that had played a role in
446:
228:, the bankrupt car parts supplier, and its clashes on whether management has the shareholders best interests in mind or those of
289:
Appaloosa
Management's investments focus on undiversified concentrated investment positions. Appaloosa invests in the global
421:
199:
In the fourth quarter of 2002, Appaloosa
Management returns were heavily a result of junk-bond and distressed debt bets in
552:
1376:
1211:
735:
710:
1199:
105:
910:
1338:
1282:
1001:
872:
314:
1175:
1045:
684:
1185:
1180:
1144:
1005:
215:
125:
117:
111:
837:
1287:
1084:
957:
933:
204:
251:
From 2009 to 2010, Appaloosa
Management's assets under management grew from $ 5 billion to $ 12 billion.
1312:
970:
942:
923:
38:
1422:
1366:
1217:
1129:
965:
947:
865:
274:
77:
1386:
1272:
1099:
1074:
497:
318:
188:
28:
469:
1297:
1242:
1154:
255:
225:
646:
1020:
996:
980:
918:
298:
297:
markets with a focus on "equities and debt of distressed companies, bonds, exchange warrants,
263:
1189:
1124:
302:
1328:
1232:
1222:
1203:
1170:
1094:
1089:
1025:
1010:
474:
220:
525:
1227:
1207:
975:
928:
597:"David Tepper is getting bullish on stocks, believes rising rates are set to stabilize"
229:
1401:
1302:
1277:
1267:
1193:
1041:
290:
168:
1307:
1262:
1149:
1134:
1015:
374:
310:
294:
267:
184:
172:
164:
66:
354:
top performing fund of any hedge fund manager managing over one billion dollars.
187:
and Jack Walton, founded
Appaloosa Management, an employee-owned hedge fund, in
167:
and Jack Walton specializing in distressed debt. Appaloosa
Management invests in
1139:
1079:
1059:
224:
reports the company has "attracted interest for its large ownership position in
888:
342:
160:
1292:
905:
743:
579:"David Tepper's Appaloosa Management Among First Quarter Hedge Fund Leaders"
306:
786:"Institutional Investor's 9th Annual Hedge Fund Industry Awards – Winners"
245:
491:
489:
487:
485:
418:"Appaloosa Management L.P.: Private Company Information - BusinessWeek"
278:
200:
329:
Appaloosa
Management manages four investment vehicles: the offshore
244:
Appaloosa survived the financial crisis of 2008 with relatively few
812:"Tepper Turns Panic to Profits With $ 6.5 Billion Hedge Fund Gain"
601:
861:
857:
233:
447:"Billionaire to save hundreds of millions from Florida move"
273:
In January 2016, Appaloosa's headquarters were relocated to
767:"Judge Says Hedge Funds May Have Used Inside Information"
623:
Taub, Stephen (July 2004). "The Bucks Stop Here Alpha".
838:"Simons, Mandel Post Biggest Drop in Hedge Fund Slump"
498:"100 Hedge funds to watch - FT Special on Hedge Funds"
765:
Duhigg, Charles; Lattman, Peter (14 September 2011).
736:"Soros, Paulson Post Biggest Returns Since Inception"
1418:
Investment management companies of the United States
1321:
1255:
1163:
1117:
1108:
1067:
1034:
989:
956:
904:
895:
640:
638:
636:
634:
341:. A complete list of current holdings can be found
140:
124:
98:
88:
72:
62:
44:
34:
24:
145:
1408:Financial services companies established in 1993
704:
702:
711:"For Tepper, Washington Is an Investment Guide"
618:
616:
412:
410:
408:
406:
404:
402:
400:
398:
396:
873:
8:
19:
1357:Alternative investment management companies
1334:Standards Board for Alternative Investments
383:Jeffrey L. Kaplan, Chief Operating Officer.
380:Michael L. Palmer, Chief Financial Officer,
1382:
1238:Taxation of private equity and hedge funds
1114:
901:
880:
866:
858:
18:
553:"In Junk Bond Funds, Risk Often Paid Off"
333:, an offshore and onshore version of its
266:restructuring which might have received
810:Richard, Teitelbaum (January 4, 2010).
520:
518:
468:Wigglesworth, Robin (23 January 2023).
392:
551:Middleton, Timothy (January 5, 1997).
440:
438:
1413:Hedge fund firms of the United States
938:fixed-income relative-value investing
677:"Absolute Return Billion Dollar Club"
675:Allen, Katrina Dean (March 1, 2010).
313:, the firm's client base consists of
7:
742:. September 13, 2010. Archived from
709:Raghavan, Anita (November 9, 2010).
836:Burton, Katherine (April 8, 2008).
526:"The Rankings The hedge-fund elite"
207:that the market was bottoming out.
240:2008 financial crisis through 2011
14:
1381:
1372:
1371:
1362:
1361:
1352:
1351:
1058:
609:from the original on 2021-03-08.
496:Robinson, Gwen (27 April 2007).
218:in 2007 were $ 5.3 billion. The
195:2002 Conseco & Marconi Corp.
577:Stephen Taub (April 13, 2010).
470:"RIP the cult of the Tiger cub"
445:Frank, Robert (April 6, 2016).
370:The company leaders include:
1:
784:Gravrand, B. (23 June 2011).
1212:security characteristic line
337:fund, and its flagship fund
1200:Capital asset pricing model
919:Capital structure arbitrage
50:; 31 years ago
1439:
1002:Commodity trading advisors
681:AR Absolute Return - Alpha
315:high-net-worth individuals
175:markets around the world.
1347:
1339:Managed Funds Association
1283:High-net-worth individual
1056:
503:. Financial Times. Nikkei
1176:Arbitrage pricing theory
377:, Founder and President,
325:Products and performance
268:confidential information
1288:Institutional investors
1181:Assets under management
1006:managed futures account
216:Assets under management
1313:Sovereign wealth funds
1085:High-frequency trading
934:Fixed income arbitrage
647:"Bullish at the Brink"
583:Institutional Investor
358:Appaloosa Investment I
1155:Structured securities
971:Distressed securities
943:Statistical arbitrage
929:Equity market neutral
924:Convertible arbitrage
645:Teitelbaum, Richard.
39:Investment Management
1273:Financial endowments
1218:Fundamental analysis
966:Shareholder activism
948:Volatility arbitrage
339:Appaloosa Investment
319:profit sharing plans
157:Appaloosa Management
78:Miami Beach, Florida
20:Appaloosa Management
1387:List of hedge funds
1377:Hedge fund managers
1293:Insurance companies
1278:Fund of hedge funds
1186:Black–Scholes model
1100:Proprietary trading
1075:Algorithmic trading
1042:Fund of hedge funds
687:on 27 December 2010
656:. Bloomberg Markets
285:Investment strategy
264:Washington Mutual's
248:redemption orders.
189:Chatham, New Jersey
163:founded in 1993 by
29:Limited Partnership
21:
16:American hedge fund
1243:Technical analysis
771:The New York Times
256:the New York Times
254:In November 2010,
136:billion (Dec 2022)
1395:
1394:
1251:
1250:
1054:
1053:
1021:Long/short equity
997:Convergence trade
981:Special situation
746:on 2 October 2011
530:New York Magazine
424:on April 12, 2008
331:Palomino Fund LTD
154:
153:
1430:
1385:
1384:
1375:
1374:
1365:
1364:
1355:
1354:
1298:Investment banks
1145:Foreign exchange
1115:
1062:
902:
882:
875:
868:
859:
853:
852:
850:
848:
833:
827:
826:
824:
822:
807:
801:
800:
798:
796:
781:
775:
774:
762:
756:
755:
753:
751:
740:FIN Alternatives
732:
726:
725:
723:
721:
706:
697:
696:
694:
692:
683:. Archived from
672:
666:
665:
663:
661:
651:
642:
629:
628:
620:
611:
610:
605:. 8 March 2021.
593:
587:
586:
574:
568:
567:
565:
563:
548:
542:
541:
539:
537:
522:
513:
512:
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502:
493:
480:
479:
465:
459:
458:
456:
454:
442:
433:
432:
430:
429:
420:. Archived from
414:
309:." According to
150:
147:
135:
132:
116:Jeffrey Kaplan (
110:Michael Palmer (
58:
56:
51:
22:
1438:
1437:
1433:
1432:
1431:
1429:
1428:
1427:
1398:
1397:
1396:
1391:
1343:
1329:Fund governance
1317:
1247:
1171:Absolute return
1159:
1110:
1104:
1095:Program trading
1090:Prime brokerage
1063:
1050:
1030:
1026:Trend following
1011:Dedicated short
985:
952:
909:
897:
891:
886:
856:
846:
844:
835:
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719:
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688:
674:
673:
669:
659:
657:
649:
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632:
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621:
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575:
571:
561:
559:
550:
549:
545:
535:
533:
524:
523:
516:
506:
504:
500:
495:
494:
483:
475:Financial Times
467:
466:
462:
452:
450:
444:
443:
436:
427:
425:
416:
415:
394:
390:
368:
360:
351:
327:
287:
242:
221:Financial Times
213:
197:
181:
159:is an American
144:
133:
130:
115:
109:
101:
91:
84:
80:
54:
52:
49:
17:
12:
11:
5:
1436:
1434:
1426:
1425:
1420:
1415:
1410:
1400:
1399:
1393:
1392:
1390:
1389:
1379:
1369:
1359:
1348:
1345:
1344:
1342:
1341:
1336:
1331:
1325:
1323:
1319:
1318:
1316:
1315:
1310:
1305:
1303:Merchant banks
1300:
1295:
1290:
1285:
1280:
1275:
1270:
1268:Family offices
1265:
1259:
1257:
1253:
1252:
1249:
1248:
1246:
1245:
1240:
1235:
1230:
1228:Securitization
1225:
1220:
1215:
1197:
1183:
1178:
1173:
1167:
1165:
1161:
1160:
1158:
1157:
1152:
1147:
1142:
1137:
1132:
1127:
1121:
1119:
1112:
1106:
1105:
1103:
1102:
1097:
1092:
1087:
1082:
1077:
1071:
1069:
1065:
1064:
1057:
1055:
1052:
1051:
1049:
1048:
1038:
1036:
1032:
1031:
1029:
1028:
1023:
1018:
1013:
1008:
999:
993:
991:
987:
986:
984:
983:
978:
976:Risk arbitrage
973:
968:
962:
960:
954:
953:
951:
950:
945:
940:
931:
926:
921:
915:
913:
911:relative value
899:
893:
892:
887:
885:
884:
877:
870:
862:
855:
854:
828:
802:
776:
757:
727:
715:New York Times
698:
667:
630:
612:
588:
569:
557:New York Times
543:
514:
481:
460:
434:
391:
389:
386:
385:
384:
381:
378:
367:
366:Administration
364:
359:
356:
350:
347:
326:
323:
317:, pension and
286:
283:
241:
238:
212:
209:
196:
193:
180:
177:
152:
151:
142:
138:
137:
128:
122:
121:
104:David Tepper (
102:
99:
96:
95:
92:
89:
86:
85:
82:
76:
74:
70:
69:
64:
60:
59:
46:
42:
41:
36:
32:
31:
26:
15:
13:
10:
9:
6:
4:
3:
2:
1435:
1424:
1421:
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1409:
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1405:
1403:
1388:
1380:
1378:
1370:
1368:
1360:
1358:
1350:
1349:
1346:
1340:
1337:
1335:
1332:
1330:
1327:
1326:
1324:
1320:
1314:
1311:
1309:
1308:Pension funds
1306:
1304:
1301:
1299:
1296:
1294:
1291:
1289:
1286:
1284:
1281:
1279:
1276:
1274:
1271:
1269:
1266:
1264:
1263:Vulture funds
1261:
1260:
1258:
1254:
1244:
1241:
1239:
1236:
1234:
1231:
1229:
1226:
1224:
1221:
1219:
1216:
1213:
1209:
1205:
1201:
1198:
1195:
1194:delta neutral
1191:
1187:
1184:
1182:
1179:
1177:
1174:
1172:
1169:
1168:
1166:
1162:
1156:
1153:
1151:
1150:Money markets
1148:
1146:
1143:
1141:
1138:
1136:
1133:
1131:
1128:
1126:
1123:
1122:
1120:
1116:
1113:
1107:
1101:
1098:
1096:
1093:
1091:
1088:
1086:
1083:
1081:
1078:
1076:
1073:
1072:
1070:
1066:
1061:
1047:
1046:Multi-manager
1043:
1040:
1039:
1037:
1033:
1027:
1024:
1022:
1019:
1017:
1014:
1012:
1009:
1007:
1003:
1000:
998:
995:
994:
992:
988:
982:
979:
977:
974:
972:
969:
967:
964:
963:
961:
959:
955:
949:
946:
944:
941:
939:
935:
932:
930:
927:
925:
922:
920:
917:
916:
914:
912:
907:
903:
900:
894:
890:
883:
878:
876:
871:
869:
864:
863:
860:
843:
839:
832:
829:
817:
813:
806:
803:
791:
787:
780:
777:
772:
768:
761:
758:
745:
741:
737:
731:
728:
716:
712:
705:
703:
699:
686:
682:
678:
671:
668:
655:
654:February 2010
648:
641:
639:
637:
635:
631:
626:
619:
617:
613:
608:
604:
603:
598:
592:
589:
584:
580:
573:
570:
558:
554:
547:
544:
532:. Apr 9, 2007
531:
527:
521:
519:
515:
499:
492:
490:
488:
486:
482:
477:
476:
471:
464:
461:
448:
441:
439:
435:
423:
419:
413:
411:
409:
407:
405:
403:
401:
399:
397:
393:
387:
382:
379:
376:
373:
372:
371:
365:
363:
357:
355:
349:Palomino Fund
348:
346:
344:
340:
336:
332:
324:
322:
320:
316:
312:
308:
305:, notes, and
304:
300:
296:
292:
291:public equity
284:
282:
280:
276:
271:
269:
265:
260:
257:
252:
249:
247:
239:
237:
235:
231:
227:
223:
222:
217:
210:
208:
206:
205:Marconi Corp.
202:
194:
192:
190:
186:
178:
176:
174:
170:
169:public equity
166:
162:
158:
149:
143:
139:
129:
127:
123:
119:
113:
107:
103:
97:
93:
87:
79:
75:
71:
68:
65:
61:
47:
43:
40:
37:
33:
30:
27:
23:
1140:Fixed income
1016:Global macro
958:Event-driven
845:. Retrieved
841:
831:
819:. Retrieved
815:
805:
793:. Retrieved
789:
779:
770:
760:
748:. Retrieved
744:the original
739:
730:
718:. Retrieved
714:
689:. Retrieved
685:the original
680:
670:
658:. Retrieved
653:
624:
600:
591:
572:
560:. Retrieved
556:
546:
534:. Retrieved
529:
505:. Retrieved
473:
463:
451:. Retrieved
426:. Retrieved
422:the original
375:David Tepper
369:
361:
352:
338:
335:Thoroughbred
334:
330:
328:
311:BusinessWeek
295:fixed income
288:
272:
261:
253:
250:
243:
219:
214:
198:
185:David Tepper
182:
173:fixed income
165:David Tepper
156:
155:
73:Headquarters
67:David Tepper
25:Company type
1423:Hedge funds
1367:Hedge funds
1130:Derivatives
1125:Commodities
1080:Day trading
990:Directional
889:Hedge funds
453:29 November
275:Miami Beach
211:2007 Delphi
90:Area served
1402:Categories
1322:Governance
896:Investment
428:2013-04-17
388:References
307:junk bonds
161:hedge fund
100:Key people
1256:Investors
906:Arbitrage
842:Bloomberg
816:Bloomberg
790:Opalesque
750:14 August
562:14 August
183:In 1993,
106:President
94:Worldwide
898:strategy
607:Archived
507:22 April
246:investor
232:and the
35:Industry
1118:Markets
1109:Related
1068:Trading
847:26 July
821:27 July
795:26 July
720:25 July
691:26 July
660:11 July
536:25 July
303:futures
299:options
279:Florida
201:Conseco
179:History
141:Website
63:Founder
53: (
45:Founded
1190:Greeks
1135:Equity
449:. CNBC
226:Delphi
134:
131:US$ 14
1233:Short
1223:Hedge
1204:alpha
1111:terms
1035:Other
650:(PDF)
625:Alpha
501:(PDF)
1208:beta
1164:Misc
849:2011
823:2011
797:2011
752:2011
722:2011
693:2011
662:2011
602:CNBC
564:2011
538:2011
509:2010
455:2017
343:here
293:and
203:and
171:and
148:.com
146:amlp
83:U.S.
55:1993
48:1993
236:."
234:UAW
126:AUM
118:COO
112:CFO
1404::
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840:.
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788:.
769:.
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540:.
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57:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.