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David Tepper, Appaloosa Management's Portfolio Increased Its Value By 40% In Q1

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David Tepper, Appaloosa Management's Portfolio Increased Its Value By 40% In Q1
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David Tepper’s Appaloosa Management recently filed its first quarter Form 13F disclosing its long equity positions as of March 31.

According to the document, the portfolio increased its value by roughly 40 percent over the quarter, from $4 billion to $5.7 billion.

Below are some of the most interesting moves.

New Positions

In addition to a few call options in diverse ETFs and companies, the fund started new positions in Micron Technology, Inc. (NASDAQ: MU) and JetBlue Airways Corporation (NASDAQ: JBLU).

Related Link: 13F Season: A Look At Warren Buffett's Q1 Moves

Over the quarter, Appaloosa acquired almost $100 million (or 3,553,207 shares) in Micron stock, and $91 million (4,730,125 shares) in JetBlue stock.

Sold Out

Between January and March, inclusive, Tepper closed three of his equity positions.  Among them, American Airlines Group Inc (NASDAQ: AAL) should be highlighted. As of December 31, 2014, Appaloosa held 4,355,050 shares of the company, which represented about 5.7 percent of its total fourth quarter equity portfolio. In the latest 13F filing, the fund disclosed ownership of zero American Airlines shares.

Large Stakes

General Motors Company (NYSE: GM) was the largest long equity stake in Appaloosa’s first quarter portfolio. Its 15,296,165 shares are worth roughly $573 million and account for more than 10 percent of the portfolio’s total value.

Related Link: Tiger Global Is Into Consumer Discretionary, Tech Segments In Latest 13F

HCA Holdings Inc (NYSE: HCA) is second in line. The fund owns 4,906,582 shares worth $369 million, after firm trimmed its stake by 2 percent over the quarter.

Tepper also reduced his exposure to Priceline Group Inc (NASDAQ: PCLN) by 2 percent over the period, to 307,974 shares, worth $358 million.

Posted-In: 13F Appaloosa Management David TepperLong Ideas Hedge Funds Tech Trading Ideas General Best of Benzinga

 

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