David Tepper tech stocks story updated with comments from Tepper.

NEW YORK (

Stockpickr

) -- Hedge fund star David Tepper gave a follow-up performance on

CNBC's "Squawk Box"

Friday morning to his September bullish comments, which are often credited with sparking a "David Tepper Rally." Indeed, his

original prediction that stocks had nowhere to go but up

came true, and all told, the

S&P 500

gained about 13% in 2010.

It turns out Tepper's still bullish, though a bit more cautious than he was in September. "The economy is so much better now," he said, but "it's not a free ride in this market." He still thinks equities make for strong investments, singling out semiconductor stocks, including

Micron

(MU) - Get Report

, as well as

Dean Foods

(DF) - Get Report

.

"We are at a higher level but pretty darn good," Tepper said. "You can't be too negative, but you can't be uncautious."

With this in mind, Stockpickr, which tracks the

top 30 holdings of various mutual funds, hedge funds and super investors

, is taking a look at the holdings of

Tepper's Appaloosa Management

-- in particular his tech holdings, which received some of his biggest bets in the most-recently-reported quarter, ended Sept. 30.

Related:

John Paulson's Top 10 Financial Stocks

Tepper increased his exposure to tech from 3.4% in the quarter ended June 30 to 15.1% in the third quarter, according to GuruFocus.com. Here's a closer look at

some of Tepper's largest financial holdings

as of his latest 13F filing with the SEC.

7. KLA-Tencor

Tepper initiated a new position in

KLA-Tencor

(KLAC) - Get Report

in the third quarter, scooping up 637,460 shares, at 0.7% of Appaloosa's total portfolio. Since the close on Sept. 30, 2010, when KLA-Tencor was trading at $35.23, the stock has risen to $42.13 as of Thursday's close, or more than 19% since Tepper's filing.

Stock Overview

: KLA-Tencor is a supplier of process control and yield management solutions for the semiconductor and related nanoelectronics industries. With a market cap of about $7 billion, it has traded in a 52-week range of $26.69 to $42.95, hitting that high on Jan. 18. The stock has a short interest ratio of 2.5, yields 2.4% and has a P/E ratio of 20.5.

Analyst Ratings

: Of 17 analysts covering the stock, seven rate it a buy, nine rate it a hold, and one rates it a sell. TheStreet Ratings has a B- buy rating on the stock.

Earnings

: KLA-Tencor is slated to report earnings on Jan. 27 for the most-recent quarter. Analysts expect the company to earn $1.06 a share in the most recent quarter, compared with 28 cents a share in the year-ago quarter.

More on KLAC

: Other holders of KLA-Tencor include

Jean-Marie Eveillard at First Eagle Investment Management

, at 1% of the total portfolio.

6. Yahoo!

Yahoo!

(YHOO)

comprises 1.2% of Tepper's portfolio as Sept. 30. His 2.8 million-share position was a 9.1% decrease from the previous quarter. Yahoo! closed at $14.17 on Sept. 30 and has risen 15.4% since, to close at $16.23 on Thursday.

Stock Overview

: Yahoo! is a global Internet brand. It is focused on powering its communities of users, advertisers, publishers and developers by creating indispensable experiences built on trust. With a market cap of $21.3 billion, it has traded in a 52-week range of $13.14 to $19.12. The stock has a short interest ratio of 4.7 and trades at a P/E ratio of 21.2.

Analyst Ratings

: Of 33 analysts covering the stock, 13 rate it a buy, 19 rate it a hold, and one rates it a sell. TheStreet Ratings has a C+ hold rating on the stock.

Earnings

: Yahoo! is slated to report earnings on Jan. 25. Analysts expect the company to earn 23 cents a share in the most recent quarter, compared with 11 cents a share in the year-ago quarter.

More on Yahoo!

: Yahoo! is one of the top holdings of

George Soros

, and Barclays named it one of the

30 best stock picks for 2011

.

5. Applied Materials

As of Sept. 30, Tepper owns 3.8 million shares of

Applied Materials

(AMAT) - Get Report

, at 1.3% of his total portfolio. Applied Materials was a new buy for Appaloosa in the third quarter. Since its Sept. 30 closing price of $11.68, the stock has gained nearly 30% to close at $15.06 on Thursday.

Stock Overview

: Applied Materials provides Nanomanufacturing Technology solutions for the global semiconductor, flat panel display, solar and related industries, with a broad portfolio of innovative equipment, service and software products. With a market cap of $20.2 billion, it has traded in a 52-week range of $10.27 to $15.35, which it hit on Jan. 18. The stock has a short interest ratio of 2.1, yields 1.8% and trades at a P/E ratio of 21.8.

Analyst Ratings

: Of 22 analysts covering the stock, seven rate it a buy, 13 rate it a hold, and two rate it a sell. TheStreet Ratings has a B- buy rating on the stock.

Earnings

: Applied Materials is slated to report earnings on Feb. 16. Analysts expect the company to earn 33 cents a share in the most recent quarter, compared with 13 cents a share in the year-ago quarter.

More on Applied Materials

: Other holders of Applied Materials include

Arnold Van Den Berg

and

Ken Fisher

.

4. Semiconductor HOLDRs

Yet another new position for Tepper in the third quarter was ETF

Semiconductor HOLDRs

(SMH) - Get Report

, with 1.7 million shares comprising 1.4% of the total portfolio. The fund closed at $27.71 on Sept. 30 and has risen 22.2% since to $33.87 as of Thursday's close.

Stock Overview

: The Trust seeks to hold common stock of companies considered to be involved in the semiconductor business. These companies manufacture and market integrated circuitry and other products made from semiconductors, which allow for increased speed and functionality in components for computers and other electronic devices. The fund's top holdings include

Texas Instruments

(TXN) - Get Report

,

Intel

(INTC) - Get Report

and Applied Materials. It has traded in a 52-week range of $24.14 to $34.64, which it hit on Jan. 18.

Analyst Ratings

: TheStreet Ratings has a C-hold rating on Semiconductors HOLDRs.

3. Microsoft

Tepper increased his holdings in

Microsoft

(MSFT) - Get Report

by more than 17% in the third quarter, to 2.8 million shares. The stock comprises 2.1% of his total portfolio as of Sept. 30. Since its Sept. 30 close of $24.49, the stock has gained 15.8% to $28.35 as of Thursday's close.

Stock Overview

: Microsoft is engaged in developing, manufacturing, licensing and supporting a range of software products and services for different types of computing devices. With a market cap of $243.6 billion, it has traded in a 52-week range of $22.73 to $31.58. The stock has a short interest ratio of 1.8, yields 2.2% and trades at a P/E ratio of 12.3.

Analyst Ratings

: Of 31 analysts covering the stock, 22 rate it a buy, and nine rate it a hold. TheStreet Ratings has a B buy rating on the stock.

Earnings

: Microsoft is slated to report earnings on Jan. 27 for the most-recent quarter. Analysts expect the company to earn 68 cents a share in the most recent quarter, compared with 74 cents a share in the year-ago quarter.

More on Microsoft

: Microsoft comprises 2.2% of

Bill Miller's Legg Mason Capital portfolio

and 1.4% of

Ken Fisher's

. According to Jake Lynch, Microsoft is one of

10 Dow stocks likely to boost dividends

in 2011. It recently showed up on a list of

stocks with large insider selling

after insiders dumped 150,792 shares.

2. Cisco

Tepper also initiated a position in

Cisco

(CSCO) - Get Report

in the third quarter, picking up 6 million shares, for 3.9% exposure to the stock. Cisco closed at $21.90 on Sept. 30 and has since slid 5.2% to $20.77 as of Thursday's close.

Stock Overview

: Cisco Systems designs, manufactures and sells Internet Protocol-based networking and other products related to the communications and information technology industry and provides services associated with these products and their use. With a market cap of $115.4 billion, has traded in a 52-week range of $19 to $27.74. The stock has a short interest ratio of 0.6 and trades at a P/E ratio of 15.2.

Analyst Ratings

: Of 37 analysts covering the stock, 27 rate it a buy, nine rate it a hold, and one rates it a sell. TheStreet Ratings has a B- buy rating on the stock.

Earnings

: Cisco is slated to report earnings on Feb. 9 for the most-recent quarter. Analysts expect the company to earn 30 cents a share in the most recent quarter, compared with 35 cents a share in the year-ago quarter.

More on Cisco

: Other holders of Cisco include

John Hussman

and

Ronald Muhlenkamp

. It was one of the

worst-performing Dow stocks of 2010

, and it was on a recent list of

stocks with large insider selling

after insiders sold 200,000 shares.

1. Hewlett-Packard

Tepper's top financial holding is

Hewlett-Packard

(HPQ) - Get Report

, another position he added in the third quarter. As of Sept. 30, he holds 3.7 million shares of the stock, comprising 4.7% of Appaloosa's total portfolio. HP has risen from $42.07 as of the Sept. 30 close to $46.78, or 11.2% since Tepper's filing.

Stock Overview

: Hewlett-Packard is a global provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises, including customers in the government, health and education sectors. With a market cap of $101.5 billion, it has traded in a 52-week range of $37.32 to $54/75. The stock has a short interest ratio of 1.3, yields 0.7% and trades at a P/E ratio of 12.6.

Analyst Ratings

: Of 34 analysts covering the stock, 28 rate it a buy, five rate it a hold, and one rates it a sell. TheStreet Ratings has a B buy rating on the stock.

Earnings

: HP is slated to report earnings on Feb. 22 for the most-recent quarter. Analysts expect the company to earn $1.28 a share in the most recent quarter, compared with $1.07 a share in the year-ago quarter.

More on Hewlett-Packard

: Other holders of HP include

Mark Hillman's Hillman Capital

and

Lee Ainslee's Maverick Capital

. Jake Lynch called HP one of the

10 best Dow dividend stocks for 2011

, and it was one of Forester Value Fund manager Tom Forester's

top value stocks for the new year

.

-- Written by Rebecca Corvino in New York.

RELATED LINKS:

>>Top 10 Warren Buffett Dividend Stocks

>>3 Stocks Setting Up to Break Out

>>3 Ways to Play the Facebook Craze

Follow Stockpickr on

Twitter

and become a fan on

Facebook.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.