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.
In addition to a few call options in diverse ETFs and companies, the fund started new positions in Micron Technology, Inc. MU and JetBlue Airways Corporation JBLU.
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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.
Between January and March, inclusive, Tepper closed three of is equity positions. Among them, American Airlines Group Inc 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.
General Motors Company 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.
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HCA Holdings Inc 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 PCLN by 2 percent over the period, to 307,974 shares, worth $358 million.
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