Billionaire hedge-fund investor David Tepper’s Appaloosa Management was a buyer of technology, energy and bank shares in the fourth quarter, according to a Wednesday regulatory filing. Between the end of the third and fourth quarter, Appaloosa boosted its stake in Bank of America Corp. , upping his position by 170% to 10.8 million shares. He also increased his stake in Apple Inc. , raising that investment to 3.2 million shares and raising his stake in Micron Technology Inc. to 10.45 million shares, representing his largest holding according to WhaleWisdom.com. The hedge-fund luminary also lifted his position in Facebook Inc. by about 70% to 2.2 million shares, while adding to his holdings in the tech-heavy PowerShares QQQ Trust Series 1 to 4.3 million shares. Meanwhile, Tepper took a long position in the exchange-traded Financial Select Sector SPDR ETF , purchasing $280 million worth, though the fund also sold call options in the ETF worth $35 million. Call options give the holder the right but not the obligation to buy an asset a set price and time. Appaloosa also made bullish bets in the energy-centered Energy Select Sector SPDR ETF for $35 million. The investor was a buyer in gambling assets, with new stakes in Caesars Entertainment Corp. , about 5.86 million shares, and MGM Resorts International , where he picked up 2.3 million shares, from the end of the third quarter. Tepper notably divested his entire stake in Kinder Morgan Inc. , Chesapeake Energy Corp. , Whirlpool Corp. and General Motors , recent filings showed. Large investors are required to reveal their long equity holdings at the end of each quarter in filings with the Securities and Exchange Commission.
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