6 Stocks Purchased by Billionaire Tepper Include Oracle, Apple

BOSTON (TheStreet) -- Billionaire hedge fund manager David Tepper of Appaloosa Management is again dumping the same bank stocks that made him a fortune in 2009 and moving into beaten-down companies Oracle(ORCL) and Boston Scientific(BSX) .

Thanks to prescient bets on Bank of America(BAC) and Citigroup(C) , Tepper's flagship fund more than doubled in 2009 after the market meltdown that was spurred by the collapse in financial stocks.

David Tepper (Appaloosa Management)

After eliminating his hedge fund's positions in bank stocks like Bank of America and Wells Fargo(WFC) in the third quarter, Tepper dropped his entire stake in Citigroup and E*Trade Financial(ETFC) during the past quarter. As of Sept. 30, Appaloosa owned 2.5 million shares of Citigroup with a market value of $64.5 million.

Hedge fund and investment managers who oversee more than $100 million are required to disclose their equity holdings, options and convertible debt on a Form 13F filed to the Securities and Exchange Commission within 45 days of the end of a quarter. Funds aren't required to report short positions, which bet on declines. Tepper ended the fourth quarter with 23 reported holdings that carried a market value of $764 million. During the quarter, Tepper sold completely out of 23 positions, including Citigroup and E*Trade.

>> View David Tepper's Portfolio

Tepper took an ax to his energy, materials and industrials holdings, reducing the hedge fund's exposure to all three sectors from three months earlier. Petroleum refiners HollyFrontier(HFC) and Tesoro(TSO) , potash company Mosaic(MOS) and Delta Air Lines(DAL) were among Tepper's liquidations during the fourth quarter.