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  • Appaloosa's Infrastructure Bets 0 comments
    Sep 4, 2013 10:45 AM | about stocks: CBI, KBR, FLR

    In scouring 13Fs we like to look for trends. The $7 billion hedge fund that is Appaloosa Management (ran by billionaire David Tepper) is making big plays in the infrastructure market.

    Chicago Bridge (NYSE:CBI) is a new position for Appaloosa, making up 1.29% of its 13F. Other notable infrastructure bets include Fluor (NYSE:FLR) and KBR (NYSE:KBR). Appaloosa increased its shares owned of FLR by 636% during 2Q, now the stock makes up 1.28% of its 13F. As well, the fund upped its shares owned of KBR by 291%.

    Other notable bets are on the broader market. These include a 877% increase in shares owned of SPY, putting the ETF as the fund's number one public equity holding and making up 19% of its 13F. Appaloosa also took new positions in QQQ and DIA. QQQ is now the fund's third largest 13F holding (5.9% of its total 13F funds), and DIA is in thirteenth (2.15% of the portfolio).

    Stocks: CBI, KBR, FLR
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