Tags: Tepper | Alibaba | fund | hedge

Hedge Fund Stars Revealed Their Newest Investments in SEC Filings

By    |   Wednesday, 19 November 2014 12:20 PM

Billionaire investor David Tepper of Appaloosa Management — reportedly the highest paid hedge fund manager last year — bought four new stocks recently, according to Securities and Exchange Commission (SEC) filings.

He was not alone among big-time money managers in shifting his mega-portfolio. Newly minted IPO Alibaba, the Chinese counterpart to Amazon, was an especially popular buy among some of the top hedge funds.

Tepper made a remarkable $3.5 billion in 2013 by betting big on airline stocks, earning him the top spot among hedge fund managers on Institutional Investor's Rich List.

It may be too late to follow his lead on airline stocks, since they are no longer out of favor or beaten down, but Appaloosa's latest SEC filings show he recently loaded up some new picks.

Tepper's four new stocks were NXP Semiconductors, Lorillard, Alibaba Group Holding and Shire PLC, according to GuruFocus. They don't appear to have too much in common on the surface — a chipmaker, a tobacco company, an Asian ecommerce play and a drug company. But what they share is Tepper's estimation that they are undervalued — he tends to make bets in unloved sectors.

Another hedge fund giant, David Einhorn, through his Greenlight Capital Inc., bought stakes in ON Semiconductor and Interpublic Group of Cos. during the third quarter, The Wall Street Journal reported.

Greenlight eliminated its stake in Computer Sciences Corp., and now holds 15 million shares of ON Semiconductor, 2.4 million shares of advertising giant Interpublic shares and disclosed it bought 8 million shares of regional lender Citizens Financial Group Inc., according to The Journal.

Among other brand-name money managers, The Journal reported, Daniel Loeb's Third Point acquired a stake in Alibaba worth $639 million and also filed with the SEC its new stakes in Ebay; Bed, Bath & Beyond; Shire; and Energizer Holdings.

Veteran hedge fund manager John Paulson, who made a big name for himself with his successful bet against the U.S. housing market amid the 2008 meltdown, assumed a large third-quarter stake in pharmaceutical concern AbbVie, and also started new positions in Athlon Energy, PetSmart and Alibaba, The Journal noted.

Other notable hedge funds making recent investments in Alibaba, which debuted on the NYSE in September in time for third-quarter SEC filings, included George Soros' Soros Fund Management, Julian Robertson's Tiger Management and Leon Cooperman's Omega Advisors, The New York Times reported.

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Billionaire investor David Tepper of Appaloosa Management — reportedly the highest paid hedge fund manager last year — bought four new stocks recently, according to Securities and Exchange Commission (SEC) filings.
Tepper, Alibaba, fund, hedge
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2014-20-19
Wednesday, 19 November 2014 12:20 PM
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