Apple Inc. (AAPL), Google Inc (GOOG), Facebook Inc (FB): Billionaire David Tepper’s Top Technology Picks for Q2

According to an article published on Insider Monkey a couple of months ago, David Tepper of Appaloosa Management LpLarry Robbins of Glenview Capital, and Michael Castor of Sio Capital are the three best hedge fund managers of 2013. So, as we continue to analyze the recently filed 13Fs for the second quarter of 2014, we would like to take a close look at Appaloosa Management’s top technology stock picks in order to find out which companies the fund is betting on.

Amongst technology stocks, Tepper seems to feel most bullish on Google Inc (NASDAQ:GOOG). Over the second quarter, the fund acquired 637,067 Class C shares, with a market value of more than $366 million. In addition, Mr. Tepper’s fund holds 442,259 Class A shares of Google Inc (NASDAQ:GOOGL), worth more than $258 million.

APPALOOSA MANAGEMENT LP

Another major hedge fund betting on Google Inc (NASDAQ:GOOG) is Lansdowne Partners, which upped its stake by 21% over the quarter, to 856,958 Class A shares, worth more than half a billion dollars. Moreover, the fund also acquired -over the quarter- 730,358 Class C shares, worth more than $420 million.

Second on our list – and 13th in Tepper’s equity portfolio, is Facebook Inc (NASDAQ:FB), the $194 billion market cap social networking company. Over the quarter, Appaloosa purchased 3.1 million shares of the company, taking its holding to 3.58 million shares, worth more than $241 million. The stake at Facebook Inc (NASDAQ:FB) accounts for approximately 3.4% of the fund’s total equity portfolio.

Amongst the funds that we track, Philippe Laffont’s Coatue Management holds the largest long position at Facebook Inc (NASDAQ:FB), with 5.87 million shares, despite an 8% reduction in its exposure over the second quarter. Other big names betting on this tech giant are Ken Griffin (4.57 million shares) and Cliff Asness (4.28 million shares). Both these investors boosted their stakes between early-April and late-June.

Finally, there’s Apple Inc. (NASDAQ:AAPL), the $597 billion market cap computers and devices manufacturer. Over the second quarter of the year, Appaloosa trimmed its stake in the tech behemoth by approximately 3%, and last disclosed ownership of 1.68 million shares of Apple Inc. (NASDAQ:AAPL), worth more than $156 million.

Hedge fund support for Apple Inc. (NASDAQ:AAPL) is plenty. Amongst the largest investors, we can count Carl Icahn of Icahn Capital LP, who owns or 52.76 million shares, worth more than $4.9 billion, D.E. Shaw, with 11.88 million shares, worth more than $1.1 billion, and Ken Fisher of Fisher Asset Management, with 10.74 million shares. These last two hedge fund managers boosted their wages in the company over the period.

Despite the above described hedge fund bullishness none of these companies count with Glenview Capital’s support, as its tech holdings are relatively small.

Disclosure: Javier Hasse holds no position in any stocks or funds mentioned

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!