This Day On The Street
Continue to site
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

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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs