David Tepper - Appaloosa Management
As of Q2 2026, David Tepper reported 25 long-equity positions worth $7.47B in aggregate.
It also disclosed $254.13M of put notional. Notional is the contracts’ face value, not the premium paid, so it is reported separately from the equity above — see the Options section below.
Copy-investor backtest
- Latest quarter
- +5.11%
- 1-year
- +32.48%
- 3-year
- +124.34%
- 5-year
- +170.12%
- 3-year vs S&P 500
- +51.10%
- 5-year vs S&P 500
- +96.43%
- 5-year top 5
- +192.90%
Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.
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Live quotes available for 27 of 39 rows. Rows without a quote are marked unavailable.
| 1 | AMZN | AMAZON COM INC | 15.95% | Add +15.7% | 5,000,000 | $1.19B | $238.34 | |
| 2 | MU | MICRON TECHNOLOGY INC | 15.06% | Reduce -41.4% | 975,000 | $1.13B | $1154.29 | |
| 3 | TSM | TAIWAN SEMICONDUCTOR MANUFAC | 10.55% | Add +24.3% | 1,650,000 | $787.99M | $477.57 | |
| 4 | GOOG | ALPHABET INC | 8.75% | Add +6.8% | 1,850,000 | $653.66M | $353.33 | |
| 5 | UBER | UBER TECHNOLOGIES INC | 7.43% | Add +21.5% | 7,694,071 | $555.2M | $72.16 | |
| 6 | EWY | ISHARES INC | 6.55% | Add +1.0% | 2,425,000 | $489.61M | $201.90 | |
| 7 | META | META PLATFORMS INC | 5.09% | Add +54.6% | 675,000 | $380.22M | $563.29 | |
| 8 | VST | VISTRA CORP | 4.70% | Add +9.5% | 2,215,272 | $351.41M | $158.63 | |
| 9 | NVDA | NVIDIA CORPORATION | 4.08% | Add +3.6% | 1,525,000 | $305.14M | $200.09 | |
| 10 | NRG | NRG ENERGY INC | 3.44% | Add +1.5% | 1,760,000 | $257.07M | $146.06 | |
| 11 | BABA | ALIBABA GROUP HLDG LTD | 2.57% | Reduce -42.3% | 2,000,000 | $191.96M | $95.98 | |
| 12 | BA | BOEING CO | 2.32% | New | 800,000 | $173.18M | $216.47 | |
| 13 | LRCX | LAM RESEARCH CORP | 2.22% | - | 382,500 | $165.75M | $433.33 | |
| 14 | BIDU | BAIDU INC | 1.98% | Add +87.1% | 1,295,000 | $148.01M | $114.29 | |
| 15 | AAL | AMERICAN AIRLINES GROUP INC | 1.81% | New | 7,500,000 | $135.53M | $18.07 | |
| 16 | AMD | ADVANCED MICRO DEVICES INC | 1.54% | Reduce -10.8% | 197,500 | $114.73M | $580.91 | |
| 17 | CRWV | COREWEAVE INC | 1.44% | New | 1,078,248 | $107.33M | $99.54 | |
| 18 | ASML | ASML HLDG NV | 1.33% | Add +1.0% | 50,000 | $99.47M | $1989.44 | |
| 19 | AVGO | BROADCOM INC | 0.76% | New | 150,000 | $56.66M | $377.75 | |
| 20 | QCOM | QUALCOMM INC | 0.62% | Reduce -49.9% | 250,000 | $46.2M | $184.79 | |
| 21 | SPCX | SPACE EXPLORATION TECHN CORP | 0.51% | New | 225,000 | $38.44M | $170.86 | No quote |
| 22 | ET | ENERGY TRANSFER L P | 0.40% | - | 1,576,125 | $30.14M | $19.12 | |
| 23 | MPLX | MPLX LP | 0.38% | - | 502,460 | $28.3M | $56.33 | |
| 24 | WHR | WHIRLPOOL CORP | 0.38% | Reduce -63.3% | 715,000 | $28.19M | $39.42 | |
| 25 | GT | GOODYEAR TIRE & RUBR CO | 0.13% | New | 1,508,591 | $9.96M | $6.60 | |
| 37 | UNH | UNITEDHEALTH GROUP INC | - | Sold | 0 | $0 | No quote | No quote |
| 36 | SNDK | SANDISK CORP | - | Sold | 0 | $0 | No quote | No quote |
| 35 | RTX | RTX CORPORATION | - | Sold | 0 | $0 | No quote | No quote |
| 34 | PDD | PDD HOLDINGS INC | - | Sold | 0 | $0 | No quote | No quote |
| 33 | MSFT | MICROSOFT CORP | - | Sold | 0 | $0 | No quote | No quote |
| 32 | LYFT | LYFT INC | - | Sold | 0 | $0 | No quote | No quote |
| 31 | LHX | L3HARRIS TECHNOLOGIES INC | - | Sold | 0 | $0 | No quote | No quote |
| 30 | KWEB | KRANESHARES TRUST | - | Sold | 0 | $0 | No quote | No quote |
| 29 | JD | JD.COM INC | - | Sold | 0 | $0 | No quote | No quote |
| 28 | DB | DEUTSCHE BK AG | - | Sold | 0 | $0 | No quote | No quote |
| 27 | GLW | CORNING INC | - | Sold | 0 | $0 | No quote | No quote |
| 26 | BALL | BALL CORP | - | Sold | 0 | $0 | No quote | No quote |
Options positions
Put = right to sell at strike (a bearish bet). Call = right to buy at strike (bullish via leverage). The notional column shows the underlying market value reported to the SEC, not the option premium paid - these don't add to the long-equity % portfolio above.