Tags: tepper | invest | stakes | American Airlines | Whirlpool

Tepper's Appaloosa Exits American Airlines, Reduces Whirlpool

Saturday, 16 May 2015 10:16 AM EDT

Billionaire investor David Tepper’s Appaloosa Management LP exited American Airlines Group Inc. and sold stock in Whirlpool Corp. during the first quarter.

Appaloosa liquidated its $233.6 million investment in American Airlines, selling 4.4 million shares, according to a quarterly filing with the Securities and Exchange Commission. It cut its stake in Whirlpool by 566,302 shares, leaving 1.1 million valued at $228.8 million, a decline of 30.5 percent.

The hedge fund added 617,365 shares of General Motors Co. and the value of its stake increased by $61.2 million to $573.6 million as of March 31, the biggest gain among previously disclosed holdings and Appaloosa’s largest publicly disclosed U.S. equity position.

Appaloosa’s disclosed equity holdings rose in value by 4.2 percent to $4.22 billion during the quarter, a period when the Standard & Poor’s 500 Index of U.S. equities rose 0.4 percent. The firm owned shares in 34 companies at the end of the quarter and 9 of them were newly reported, led by a $96.4 million stake in Micron Technology Inc. and a $91.1 million holding in JetBlue Airways Corp..

Money managers who oversee more than $100 million in equities in the U.S. must file a Form 13F within 45 days of each quarter’s end to list those stocks as well as options and convertible bonds. The filings don’t show non-U.S. securities, holdings that aren’t publicly traded, or cash.


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InvestingAnalysis
Billionaire investor David Tepper's Appaloosa Management LP exited American Airlines Group Inc. and sold stock in Whirlpool Corp. during the first quarter.Appaloosa liquidated its $233.6 million investment in American Airlines, selling 4.4 million shares, according to a...
tepper, invest, stakes, American Airlines, Whirlpool
228
2015-16-16
Saturday, 16 May 2015 10:16 AM
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