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), as well as Dean Foods ( DF). "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) 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.
5. Applied Materials
4. Semiconductor HOLDRs
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