Hedge fund billionaire David Tepper loaded up on energy stocks

Hedge fund billionaire David Tepper,who runs $20 billion Appaloosa Management, is bullish on energy stocks, according to his fund’s latest 13-F filing.

Tepper loaded up on stocks in the energy sector in the fourth quarter, including:

  • Antero Resources (557,465 shares),
  • Cabot Oil & Gas (1.38 million shares),
  • Energy Transfer Partners (5.14 million shares),
  • Kinder Morgan (9.44 million shares),
  • Range Resources (1.6 million shares),
  • Southwestern Energy (4.38 million shares), and
  • Tortoise Energy Infrastructure (47,105 shares).

Tepper also has a long position in TerraForm Power, a sister company of solar power manufacturer SunEdison also known as a “yieldco.” He owns 7.6 million shares of TerraForm and is suing SunEdison.

Meanwhile, he pared back his stakes in Apple (sold 45,000 shares) and GM (sold 300,000 shares).

In all, Tepper initiated 26 new positions in the fourth quarter and added to 13 already exisiting positions. He pared back in seven stocks and dropped another seven all together including JetBlue.

Tepper’s largest position is 3 million shares (call options) of the SPDR S&P 500 ETF.

Hedge funds only have to disclose their long equity holdings every quarter in these filings. What’s more, the filings aren’t published until 45 days after the end of the quarter, so it’s possible funds could have traded in and out of positions.

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