Billionaire investor David Tepper took new positions in Apple Inc. and Chinese e-commerce company Alibaba Group Holding Ltd. last quarter.
Appaloosa Management, Tepper’s $20 billion hedge fund firm, had 2.5 million shares of Apple worth $315.8 million and 1.36 million shares of Alibaba valued at $111.9 million as of June 30, according to a regulatory filing Friday.
The Short Hills, New Jersey-based firm liquidated its Google Inc. class A shares and decreased its holding of the company’s C shares, according to data compiled by Bloomberg.
Appaloosa, which Tepper started in 1993, increased its position in General Motors Co. during the quarter by 3.5 million shares to 18.8 million shares worth $626.5 million. The automotive company was the hedge fund’s largest U.S. equity holding by market value as of the second quarter.
Money managers who oversee more than $100 million in U.S. equities must file a Form 13F within 45 days of the end of each quarter to list their holdings in stocks that trade on U.S. exchanges, as well as options and convertible debt. Hedge funds are lightly regulated pools of capital whose managers can invest in any asset and share in annual profits.
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