David Tepper's Appaloosa buys stakes in Disney, Caesar's Entertainment
Billionaire hedge fund manager David Tepper built stakes in two large entertainment companies in the fourth quarter, according to securities filings . Tepper's Appaloosa Management bought 300,000 shares of Disney and 425,000 shares of Caesar's Entertainment during the fourth quarter. Those stakes were worth roughly $26.1 million and $17.7 million, respectively, at the end of December. Neither stock cracked the top 10 of Appaloosa's holdings, but Disney was the biggest purchase of an individual stock made in the last quarter, according to VerityData's InsiderScore.com. Appaloosa's largest positions remain concentrated in energy and technology, led by Constellation Energy and Alphabet . Elsewhere in the portfolio, Tepper added to his stake in hospital chain HCA Healthcare while trimming his position in Facebook-parent Meta Platforms . The latest security filings show only the long equity positions for Appaloosa, and do not reflect any potential hedges, options holdings or shorts. The filings also do not show when and at what prices the portfolio changes were made. It is unclear whether Tepper bought Disney shares before or after Bob Iger returned as CEO in November. Tepper, who also owns the NFL's Carolina Panthers, told CNBC in December that he was " leaning short " on the stock market in 2023, citing concerns about rising interest rates.