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Billionaire David Tepper Top Earning Hedge Fund Manager In 2012 0 comments
Billionaire hedge fund manager David Tepper's Appaloosa Management hedge fund returned some 30% in 2012, earning Tepper a cool $2.2 billion. This was more money than any other hedge fund manager in the industry made during 2012. So how did he do it? I dug a bit deeper into Appaloosa's major holdings in 2012 and outlined the hedge fund's big bets that paid off.
Tepper made a big bet on Apple (NASDAQ: AAPL) during the fourth quarter, upping his stake by 75% the quarter. Apple is now Appaloosa's top public equity holding, making up over 10.5% of his portfolio. The tech giant is quite the industry leader when it comes to smartphones and tablets. For the company's 2012 fiscal year, it saw iPhone and iPad sales up 71% and 59% year over year, respectively. But its iPhone is its true money-maker, making up 50% of revenues last quarter. Apple competes with other major tech company Google when it comes to mobile operating system, and remains at number two as of the end of 2012.
read the rest at stockpucker...
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