The hedge fund of billionaire David Tepper had an energetic first quarter, exiting positions in different primary corporate’s whilst doubling down on a couple of tech names. Securities filings launched Monday confirmed that Tepper’s Appaloosa Control used to be in large part a vendor of equities all through the primary quarter, with two exceptions amongst his best holdings. The hedge fund supervisor did upload to his positions in Amazon and Microsoft all through the quarter. One notable purchase no longer at the checklist above is Uber . Appaloosa purchased just about 1.8 million stocks within the transportation corporate all through the primary quarter, bringing its general to greater than 2 million. That stake used to be valued at about $72 million on the finish of March. The fund made a number of notable strikes within the retail trade. Appaloosa closed small positions in Foot Locker and Hole , whilst trimming greater positions in Macy’s and Kohl’s . Tepper additionally closed out positions in homebuilders D.R. Horton and PulteGroup , Normal Motors and telecom large T-Cellular . The T-Cellular and Normal Motors positions have been each price greater than $100 million on the finish of December. The strikes in GM and the retail shares are reversals of purchases within the prior quarter. There used to be some purchasing all through the quarter, although, as Appaloosa initiated two small on line casino positions in Wynn and Las Vegas Sands . The quarterly securities filings from hedge finances display shares which might be owned without delay through the finances, and choices on securities, however no longer brief positions. Tepper informed CNBC’s Jim Cramer closing week that he had lined his brief place in opposition to the Nasdaq . The submitting additionally does no longer display when precisely trades have been made, so it’s unclear if Tepper made those trades early sufficient within the quarter to steer clear of the most important drawdown in shares.
