Photo: Bloomberg TV screengrab
Hedge fund manager David Tepper, the founder of Appaloosa Management, added to his Apple position during the fourth quarter, according to a 13F filing with the SEC. For the fourth quarter ended 12/31/2012, Appaloosa owned 486,476 shares of the tech giant’s stock, the filing shows. In the previous quarter, the fund held 347,768 shares of Apple.
Meanwhile, a bunch of big name hedge funds completely exited their Apple positions during the fourth quarter.
Apple’s stock has been a hedge fund favourite.