Distressed Investor David Tepper Now Buying Up Airline Stock

david tepper

After making a killing in distressed debt last year (up 120% through 2009 Q3), looks like David Tepper scooped up some airline stock.

In Q4, Tepper’s Appaloosa Fund opened new positions in American parent AMR, Delta Air Lines, US Airways, and United parent UAL. 

His total bet on airlines was around $133 million at year end.

According to their most recently 13F filing with the SEC, Appaloosa also took up stakes in Willis Group, an insurance firm, and Wells Fargo.

Appaloosa also added to stakes in Citigroup, which is now his second largest holding. Bank of America is Appaloosa’s largest holding.

Of course we don’t know if these are long or short positions, but they are noteworthy.

The number of passengers on US airlines increased in November 2009 1.6% from a year ago.

Read more in Bloomberg >

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