Market Overview

13-F Alert: Tepper's Appaloosa Management Adds to Apple; Buys Freeport and Transocean, Sells Macy's and JetBlue

David Tepper's hedge fund Appaloosa Management released its 13-F filing on Thursday, after the market closed, detailing the firms long equity positions as of December 31, 2012. Appaloosa, like many of its hedge fund counterparts, has a large position in American International Group (NYSE: AIG), valued at roughly $214 million.

The hedge fund also added to its position in Apple (NASDAQ: AAPL) despite the fact that other hedge funds were selling in the fourth-quarter. The firm added roughly 400,000 Apple shares during the last quarter, and the position is now valued at around $486 million.

Appaloosa continued to show a large stake in chip-maker Broadcom (NASDAQ: BRCM), valued at around $114 million. Among the firm's other large positions were Citigroup (NYSE: C), Goodyear Tire & Rubber (NYSE: GT), Qualcomm (NASDAQ: QCOM), the SPDR S&P 500 ETF (NYSE: SPY).

Appaloosa also had a large stake in both United Continental Holdings (NYSE: UAL) and US Airways Group (NYSE: LCC). Those stakes were valued at $213 million and $163 million, respectively.

Among the new stakes that Appaloosa was showing in the fourth-quarter was global mining company Freeport-McMoran (NYSE: FCX). The firm purchased around 520,000 shares valued at around $18 million. Appaloosa was also showing a $67 million new investment in oil driller Transocean (NYSE: RIG).

Among the stocks that Appaloosa liquidated in the quarter were JetBlue (NASDAQ: JBLU), Morgan Stanley (NYSE: MS) and Macy's (NYSE: M).

Posted-In: Appaloosa Management David TepperNews Hedge Funds Movers & Shakers Trading Ideas General Best of Benzinga


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