Appaloosa Management is run by billionaire David Tepper and the latest SEC 13F filing of the investment manager on November 14 highlights its stake in Alibaba Group Holding Ltd (NYSE:BABA) with 725,000 shares of the internet company. Some of the primary stock investments of the Appaloosa Management include General Motors Company (NYSE:GM), Citigroup Inc (NYSE:C), Priceline Group Inc (NASDAQ:PCLN).
Appaloosa Management has its largest stock investment in General Motors Company (NYSE:GM) with 14,863,791 shares of the company at current market value of $474 million. The second largest carmaker of the world is having trouble with recalls and the company initiated “compensation program” for fatalities and accidents caused by its faulty ignition switches. Kenneth Feinberg, handling claims for General Motors Company (NYSE:GM), extended the deadline of accepting claim applications until January 31, 2015.
Citigroup Inc (NYSE:C) is the second largest stock investment of Appaloosa Management with 8,319,639 shares of the company at net market value of $431 million. The bank was among one of the financial institutions exploiting foreign currency trades as said by the Financial Conduct Authority of United Kingdom and the U.S. Commodity Futures Trade Commission. Citigroup Inc (NYSE:C) is likely to pay over $1 billion to settle these charges and the bank lowered its third quarter results considering the huge litigation costs. (Click here to see the list of hedge funds holding positions in Citigroup Inc at the end of second quarter)
Priceline Group Inc (NASDAQ:PCLN) comes at number three in Appaloosa Management’s portfolio and the fund owns 366,574 shares of the company at current market value of $424 million. Priceline Group Inc (NASDAQ:PCLN) reported gross profits of $2.6 billion in its third quarter 2014 with gross travel bookings of $13.8 billion. Some of the major investors of Priceline Group Inc (NASDAQ:PCLN) include Citadel Investment Group, Lone Pine Capital, and D E Shaw.
This article has been written by Prakash Pandey.