Maybe 2015 will be better.
At least that's what many hedge fund managers are hoping after a poor showing in 2014.
Regulatory filings through Tuesday, covering the fourth quarter, show David Tepper's Appaloosa Management, whose Palomino hedge fund gained only 2.3 percent last year, sold his entire stake in the Chinese Internet company Alibaba.
That made Tepper look brilliant as Alibaba — one of the top hedge fund holdings in the last part of 2014 after its stunning IPO last year — is down 13 percent this year.
But Tepper also sold out of Apple entirely, which has been on fire this year, while David Einhorn cut his Apple stake by 6 percent.
Leon Cooperman and Barry Rosenstein's Jana Partners joined Tepper in getting out of Alibaba, filings on Tuesday revealed. But other hedge fund moguls weren't so lucky.
John Paulson and Dan Loeb added to their Alibaba holdings — while George Soros and Chase Coleman's Tiger Global maintained their positions.
The hedge funds reported their stock holdings Friday and Tuesday, part of a quarterly filing requirement that shows activity up to 45 days prior.
Tiger Global, meanwhile, initiated a 130,000 share stake in Netflix, which is up 37 percent this year, while Soros sold out.
Energy provided more drama.
Cooperman, who attributed his Omega Advisors' losses last year to his energy picks, sold his entire stakes in Halliburton and Kinder Morgan — but added to Anadarko Petroleum and Sanchez Energy. Soros, meanwhile, took a new stake in Chevron.
Hedge funds plowed into drugmaker Actavis, just as it was about to announce its $66 billion merger with Allergan.
Cooperman added to his Actavis holdings, while Loeb increased his position to 3.5 million shares.
Paulson added to both Actavis and Allergan, filings show.
But Paulson trimmed his position in Shire, whose merger with AbbVie was scuttled last fall after the Treasury Department said it would no longer approve so-called tax-inversion deals.
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