This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

David Tepper Cuts Apple Inc., Sells Microsoft, Buys J.C. Penney

Stocks in this article: CFCMCSACYHFFCXFIONTAPSNDKTHCTRN

David Tepper’s Appaloosa Management wrapped up several positions in the last quarter, and made major reductions to a bunch of others. David Tepper’s position in Apple Inc. (AAPL) was reduced from 383k shares to 139k shares. The fund also slashed its position inaFord Motor Companya (F) from 10.45 million shares to 2.76 million shares. Stake inaBank of America Corpa (BAC) was cut to 4.1 million shares from 6.3 million shares, and Fusion-IO, Inc.a (FIO) was cut to 1 million shares. Stakes in Google Inc (GOOG) andaSanDisk Corporationa (SNDK) were also trimmed.

Appaloosa sold out its entire stakes in Comcast Corporationa (CMCSA),aMicrosoft Corporationa (MSFT),aNetApp Inc.a (NTAP) andaCF Industries Holdings, Inc.a (CF) in the last quarter.

David Tepper buys J.C. Penney

While everybody else was selling J.C. Penney Company, Inc. (JCP), David Tepper was buying it. The hedge fund bought 737,800 shares of the retailer in Q3. Other new holdings added were Freeport-McMoRan Copper & Gold Inc. (FCX) 1.75 million shares,aTenet Healthcare Corpa (THC) andaCommunity Health Systemsa (CYH) 210k shares each and Ingredion Inc (INGR) 297k shares.

Tepper added to existing stakes inaJPMorgan Chase & Co.a (JPM), Trinity Industries Inca (TRN) andaCelanese Corporationa (CE) in the past quarter.

Palomino returns

Despite repeatedly touting a very bullish stance and his insistence that the markets will ride up for the foreseeable future, David Tepper cut exposure in the quarter ending in September. The value of his public long portfolio was down from $6.9 billion to $6.28 billion in Q3. Appaloosa’s $6.7 billion Palomino Fund is up 27.6% through the end of third quarter and is one of the top performers of the year.

-By Tabinda Hussain

null

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs