Hedge billionaire David Tepper, the founder of $US20 billion distressed-debt fund Appaloosa Management, disclosed three new positions during the second quarter.
He snapped up new positions in Alibaba (1,360,000 shares), Apple (2,518,167 shares) and Mylan (989,528 shares) in the second quarter, according to his fund’s 13F filing.
Those investments have a combined value of close to $US500 million, according to Bloomberg data.
Apple is now one of Tepper’s top five long holdings. General Motors remains his biggest long position.
Hedge funds only have to disclose their long equity holdings in 13Fs, which come out 45 days after the end of each quarter.