David Tepper's Appaloosa Slashes Equity Holdings; Closes Apple, Facebook Positions

David Tepper's hedge fund Appaloosa Management disclosed that the value of its equity holdings were reduced by 40% late last year, according to recent regulatory filings, as many individual stock holdings were closed or sharply reduced. The market value of Appaloosa's holdings were $4.05 billion as of Dec. 31, down from $6.79 billion at the end of September, according to a 13F filing. During the fourth quarter, Appaloosa sold all of the 1.16 million shares of Apple Inc. that he had held as of Sept. 30, as well as the 7.3 million shares of Facebook , 8.3 million shares of Citigroup, 725,000 shares of Alibaba , 2.86 million shares of CBS Corp. and 5 million shares of Halliburton . The fund cut its holding in American Airlines to 4.36 million shares from 7.29 million shares and his holding of Delta Air Lines to 3.2 million shares from 7.5 million shares. Tepper is famous for making a fortune by buying financial stocks just before the bear market ended in early 2009.