David Tepper of Appaloosa Management appears to have reduced his equity portfolio considerably in the fourth quarter, according to a filing released after the close of trading on Tuesday. The value of Tepper’s stock holdings fell to $765 million from $1.5 billion at the end of the third quarter, according to the filing.
Over two quarters, the drop is even more pronounced; Tepper reported stakes worth $4.2 billion at the end of the second quarter. (Of course, options and other assets don’t show up in quarterly filing reports, so it’s unclear how much Tepper actually took off the table.)
Tepper’s entire 2.5 million-share stake in Citigroup (C), which he reported at the end of the third quarter, is gone in the new filing, as is his 4.3-million-share stake in AMR Group (AMR), his 2.9 million share stake in Delta (DAL) and his 9.3-million-share stake in US Airways (LCC). Tepper opened a new 1.2-million-share position in Oracle (ORCL).
