Investing.com - Financial Markets Worldwide
💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadUnlock them all

David Tepper's Appaloosa bought and sold Valeant shares in first quarter

Published 2016-05-13, 05:46 p/m
© Reuters. David Tepper's Appaloosa bought and sold Valeant shares in first quarter
SPY
-
BHC
-

NEW YORK, May 13 (Reuters) - David Tepper's hedge-fund firm
Appaloosa bought nearly 1 million shares in Valeant
Pharmaceuticals International Inc VRX.TO in the first three
months of 2016, according to regulatory filings, but sold them
during the first quarter.
Shares of Valeant jumped 2 percent after filings revealed
Appaloosa's 945,000-share stake, but CNBC reported that the firm
has already sold out of the position, citing a person familiar
with the situation. A spokesman for Appaloosa declined to
comment.
Despite a 10 percent reduction in its exposure, Appaloosa's
largest stake continued to be placed in SPDR S&P 500 ETF (NYSE:SPY) Trust
call options. Its 2.7 million SPY calls were valued at more than
$555 million by the end of the quarter, and accounted for
roughly 9.8 percent of its portfolio.
Hedge-fund SEC disclosures are backward-looking and come out
45 days after the end of each quarter. Still, the filings offer
a glimpse into what hedge fund managers saw as investment
opportunities.
The filings do not disclose short positions, or bets that a
stock will fall. As a result, they do not always present a
complete picture of a management firm's stock holdings.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.