David Tepper's Appaloosa Adds JetBlue, QQQs Stakes While Cutting American Airlines

Famed investor David Tepper's hedge fund Appaloosa Management disclosed in a regulatory filing that the value of its equity holdings jumped 40% to $5.7 billion during the first quarter, after slashing it by 40% during the fourth quarter. Among some of Appaloosa's moves during the quarter, he added new stakes in D.R. Horton of 1.1 million shares, JetBlue Airways of 4.7 million shares, PowerShares QQQ Trust of 3.9 million shares, Regions Financial of 5.1 million shares , USG Corp. of 1.9 million shares and Bank of America Corp. of 650,000 shares. Meanwhile, he sold all of his holdings in American Airlines , American Realty Capital Properties and Hartford Financial Services . Separately, he boosted his stake in the SPDR S&P 500 ETF to 4,522,854 shares from just 22,854 shares as of Dec. 31.