Appaloosa Billionaire Tepper Reshuffles Hedge Fund Portfolio

David Tepper, billionaire manager of hedge fund Appaloosa Management, recently unveiled in a 13-F filing with the Securities and Exchange Commission that his fund has raised its stake in Western Digital (WDC) - Get Report , while cutting positions in Facebook (FB) - Get Report and Delta Air Lines (DAL) - Get Report . Tepper's Facebook and Delta stakes had previously been worth roughly $185 million and $400 million, respectively, at the end of the second quarter. Facebook shares, which are up roughly 20% on the year, contrast with Delta's struggling performance, with more than a quarter of its market cap vanishing in 2016. (Facebook shares are held in Jim Cramer's Action Alerts PLUS charitable trust.)

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Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long Facebook stock.