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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Buys
These are the positions the manager opened or added to this quarter, showing where they put more money to work. The quarter shown is Q2 2026.
| Ticker | Security | Activity | % portfolio | Shares | Value | Reported price | Q range |
|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| BIDU | BAIDU INC | Add +87.1% | 1.98% | 1,295,000 | $148.01M | $114.29 | $100.32 - $152.37(27%)$111.90 -> $114.29 |
| 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 |
| 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 |