David Tepper’s Hedge Fund Bets on T-Mobile, Reduces Stake in Southwest Airlines (CNBC)
David Tepper‘s Appaloosa Management is betting on T-Mobile, while cutting back on its investment in Southwest Airlines. The hedge fund disclosed in a Wednesday filing a nearly 3.86 million-share stake in T-Mobile in the fourth quarter of last year. Appaloosa also reduced its holding in Southwest Airlines by nearly 700,000 shares, to 74,265 shares. Both stocks are lower so far this year. T-Mobile is off 7.7 percent. Southwest shares are down 11.8 percent for 2018.
Paulson Maintained SPDR Gold Stake as Dollar Boosted Metal (Bloomberg)
Billionaire hedge-fund manager John Paulson maintained his holding last quarter in SPDR Gold Shares, before prices of the metal capped the biggest annual gain in seven years. As of Dec. 31, New York-based Paulson & Co. kept his stake in SPDR Gold, the biggest exchange-traded product backed by bullion, at 4.36 million shares for a fifth straight quarter. Bridgewater Associates, the world’s largest hedge fund, added to its stake in the ETF, according to a filing on Tuesday.
Jana Takes New Stakes in Comcast, Facebook, GM; Drops Oracle (Bloomberg)
Jana Partners, the sometimes-activist fund run by Barry Rosenstein, took new stakes in Comcast Corp., Facebook Inc. and General Motors Co. during the fourth quarter while exiting Salesforce.com Inc. and Oracle Corp. The New York-based hedge fund also took new positions in Syneos Health Inc., Envision Healthcare Corp. and WW Grainger Inc., according to a regulatory filing Wednesday. It said it exited DXC Technology Co., Altaba Inc. and UnitedHealth Group Inc.
Moore Capital Bought Wynn Resorts, Other Casino Stocks Before Steve Wynn Resigned (CNBC)
Louis Bacon‘s Moore Capital Management bet on casino stocks in the fourth quarter of last year, filings show. The hedge fund took a new, 50,000 share stake in Wynn Resorts, a 1.88 million share stake in Caesars Entertainment and a 100,000 share stake in Boyd Gaming, according to a required quarterly filing Wednesday with the U.S. Securities and Exchange Commission. The information is at least 45 days old and may not reflect the fund’s current holdings.
Third Point Reveals Stakes in Netflix, Intercontinental Exchange (Bloomberg)
Dan Loeb’s Third Point acquired new stakes in Netflix Inc. and Intercontinental Exchange Inc. during the fourth quarter while exiting its positions in Bank of America Corp., T-Mobile US Inc. and Shire Plc. The New York-based hedge fund also added new positions in defense company General Dynamics Corp., MGM Resorts International, Pinnacle Foods Inc., Lennar Corp., health insurance firm Aetna Inc., and Dentsply Sirona Inc. during the quarter, according to a regulatory filing Wednesday. It sold stakes in Marathon Petroleum Corp., Alexion Pharmaceuticals Inc. and Banco Macro SA.
