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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All activity
This tab shows every position the manager opened, added to, reduced, or exited compared with the prior quarter, so you can see exactly what changed. The quarter shown is Q2 2026.
| Ticker | Security | Activity | % portfolio | Shares | Value | Reported price | Q range |
|---|---|---|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC | Reduce -41.4% | 15.06% | 975,000 | $1.13B | $1154.29 | $340.20 - $1255.00(89%)$367.85 -> $1154.29 |
| BA | BOEING CO | New | 2.32% | 800,000 | $173.18M | $216.47 | $202.30 - $244.07(34%)$207.32 -> $216.13 |
| AMZN | AMAZON COM INC | Add +15.7% | 15.95% | 5,000,000 | $1.19B | $238.34 | $204.90 - $278.56(45%)$210.57 -> $238.72 |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | Add +24.3% | 10.55% | 1,650,000 | $787.99M | $477.57 | $326.80 - $479.00(99%)$341.49 -> $477.57 |
| BABA | ALIBABA GROUP HLDG LTD | Reduce -42.3% | 2.57% | 2,000,000 | $191.96M | $95.98 | $91.99 - $146.87(7%)$123.73 -> $96.00 |
| AAL | AMERICAN AIRLINES GROUP INC | New | 1.81% | 7,500,000 | $135.53M | $18.07 | $10.35 - $18.36(96%)$11.13 -> $18.11 |
| META | META PLATFORMS INC | Add +54.6% | 5.09% | 675,000 | $380.22M | $563.29 | $540.21 - $691.52(15%)$579.23 -> $563.29 |
| CRWV | COREWEAVE INC | New | 1.44% | 1,078,248 | $107.33M | $99.54 | $73.81 - $138.25(40%)$78.44 -> $99.54 |
| UBER | UBER TECHNOLOGIES INC | Add +21.5% | 7.43% | 7,694,071 | $555.2M | $72.16 | $67.19 - $80.83(36%)$71.71 -> $72.16 |
| AAPL | APPLE INC | New | — | 835,000 | $241.62M | $289.36 | $245.70 - $316.94(61%)$255.63 -> $289.05 |
| AVGO | BROADCOM INC | New | 0.76% | 150,000 | $56.66M | $377.75 | $301.75 - $495.00(39%)$313.49 -> $377.50 |
| SPCX | SPACE EXPLORATION TECHN CORP | New | 0.51% | 225,000 | $38.44M | $170.86 | - |
| BRK-B | BERKSHIRE HATHAWAY INC DEL | New | — | 25,000 | $12.51M | $500.39 | $464.01 - $500.56(100%)$478.50 -> $499.99 |
| GT | GOODYEAR TIRE & RUBR CO | New | 0.13% | 1,508,591 | $9.96M | $6.60 | $5.43 - $7.48(57%)$6.71 -> $6.60 |
| BALL | BALL CORP | Sold | — | 0 | $0 | — | - |
| GLW | CORNING INC | Sold | — | 0 | $0 | — | - |
| DB | DEUTSCHE BK AG | Sold | — | 0 | $0 | — | - |
| JD | JD.COM INC | Sold | — | 0 | $0 | — | - |
| KWEB | KRANESHARES TRUST | Sold | — | 0 | $0 | — | - |
| LHX | L3HARRIS TECHNOLOGIES INC | Sold | — | 0 | $0 | — | - |
| LYFT | LYFT INC | Sold | — | 0 | $0 | — | - |
| MSFT | MICROSOFT CORP | Sold | — | 0 | $0 | — | - |
| PDD | PDD HOLDINGS INC | Sold | — | 0 | $0 | — | - |
| RTX | RTX CORPORATION | Sold | — | 0 | $0 | — | - |
| SNDK | SANDISK CORP | Sold | — | 0 | $0 | — | - |
| UNH | UNITEDHEALTH GROUP INC | Sold | — | 0 | $0 | — | - |
| BIDU | BAIDU INC | Add +87.1% | 1.98% | 1,295,000 | $148.01M | $114.29 | $100.32 - $152.37(27%)$111.90 -> $114.29 |
| WHR | WHIRLPOOL CORP | Reduce -63.3% | 0.38% | 715,000 | $28.19M | $39.42 | $36.06 - $59.22(15%)$54.28 -> $39.42 |
| QCOM | QUALCOMM INC | Reduce -49.9% | 0.62% | 250,000 | $46.2M | $184.79 | $121.99 - $259.92(46%)$127.28 -> $184.79 |
| GOOG | ALPHABET INC | Add +6.8% | 8.75% | 1,850,000 | $653.66M | $353.33 | $287.57 - $404.47(56%)$294.90 -> $353.33 |
| VST | VISTRA CORP | Add +9.5% | 4.70% | 2,215,272 | $351.41M | $158.63 | $132.66 - $171.35(67%)$153.96 -> $158.63 |
| AMD | ADVANCED MICRO DEVICES INC | Reduce -10.8% | 1.54% | 197,500 | $114.73M | $580.91 | $200.62 - $584.73(99%)$210.21 -> $582.79 |
| NVDA | NVIDIA CORPORATION | Add +3.6% | 4.08% | 1,525,000 | $305.14M | $200.09 | $171.37 - $236.54(44%)$175.75 -> $200.09 |
| EWY | ISHARES INC | Add +1.0% | 6.55% | 2,425,000 | $489.61M | $201.90 | $116.89 - $220.68(82%)$126.22 -> $201.97 |
| NRG | NRG ENERGY INC | Add +1.5% | 3.44% | 1,760,000 | $257.07M | $146.06 | $120.11 - $175.52(47%)$149.90 -> $146.06 |
| ASML | ASML HLDG NV | Add +1.0% | 1.33% | 50,000 | $99.47M | $1989.44 | $1272.21 - $1999.96(99%)$1359.76 -> $1990.62 |