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
- +5.38%
- 1-year
- +32.47%
- 3-year
- +123.82%
- 5-year
- +168.75%
- 3-year vs S&P 500
- +50.57%
- 5-year vs S&P 500
- +95.06%
- 5-year top 5
- +193.63%
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 26 of 50 rows. Rows without a quote are marked unavailable.
| 1 | ETP | ENERGY TRANSFER PRTNRS L P | 11.13% | Add +1.8% | 11,615,657 | $429.78M | No quote | No quote |
| 2 | GOOG | ALPHABET INC | 9.50% | Reduce -25.1% | 472,000 | $366.88M | $777.29 | No quote |
| 3 | WPZ | WILLIAMS PARTNERS L P NEW | 8.92% | - | 9,266,864 | $344.64M | No quote | No quote |
| 4 | AGN | ALLERGAN PLC | 7.26% | Reduce -3.4% | 1,218,309 | $280.59M | No quote | No quote |
| 5 | ALL | ALLSTATE CORP | 5.59% | Reduce -6.5% | 3,119,823 | $215.83M | $69.18 | No quote |
| 6 | META | FACEBOOK INC | 4.93% | New | 1,484,608 | $190.43M | $128.27 | No quote |
| 7 | WHR | WHIRLPOOL CORP | 4.86% | Reduce -11.2% | 1,158,794 | $187.91M | $162.16 | No quote |
| 8 | OC | OWENS CORNING NEW | 4.08% | Reduce -11.5% | 2,952,007 | $157.61M | $53.39 | No quote |
| 9 | TERP | TERRAFORM PWR INC | 3.14% | - | 8,708,708 | $121.14M | No quote | No quote |
| 10 | SYF | SYNCHRONY FINL | 3.02% | Reduce -31.4% | 4,164,671 | $116.61M | $28.00 | No quote |
| 11 | MHK | MOHAWK INDS INC | 3.00% | Reduce -24.0% | 578,051 | $115.81M | $200.34 | No quote |
| 12 | AY | ATLANTICA YIELD PLC | 2.96% | Reduce -4.6% | 6,006,471 | $114.18M | No quote | No quote |
| 13 | HUN | HUNTSMAN CORP | 2.67% | Reduce -5.7% | 6,345,318 | $103.24M | $16.27 | No quote |
| 14 | HCA | HCA HOLDINGS INC | 2.42% | Add +1.6% | 1,236,940 | $93.55M | $75.63 | No quote |
| 15 | AAPL | APPLE INC | 2.34% | New | 800,000 | $90.44M | $113.05 | No quote |
| 16 | HDS | HD SUPPLY HLDGS INC | 2.34% | Add +2.4% | 2,821,662 | $90.24M | No quote | No quote |
| 17 | KMI | KINDER MORGAN INC DEL | 2.19% | Add +143.3% | 3,650,000 | $84.43M | $23.13 | No quote |
| 18 | YHOO | YAHOO INC | 2.01% | New | 1,800,000 | $77.58M | No quote | No quote |
| 19 | TPX | TEMPUR SEALY INTL INC | 1.74% | New | 1,187,347 | $67.37M | No quote | No quote |
| 20 | WDC | WESTERN DIGITAL CORP | 1.74% | Reduce -20.7% | 1,150,000 | $67.24M | $58.47 | No quote |
| 21 | BAC | BANK AMER CORP | 1.68% | New | 4,135,303 | $64.72M | $15.65 | No quote |
| 22 | CFG | CITIZENS FINL GROUP INC | 1.65% | New | 2,580,137 | $63.76M | $24.71 | No quote |
| 23 | QCOM | QUALCOMM INC | 1.60% | New | 900,000 | $61.65M | $68.50 | No quote |
| 24 | AMLP | ALPS ETF TR | 1.57% | - | 4,764,435 | $60.46M | $12.69 | No quote |
| 25 | PNC | PNC FINL SVCS GROUP INC | 1.43% | New | 612,445 | $55.18M | $90.09 | No quote |
| 26 | HAIN | HAIN CELESTIAL GROUP INC | 1.17% | Reduce -0.5% | 1,275,331 | $45.38M | No quote | No quote |
| 27 | VMW | VMWARE INC | 0.73% | New | 382,276 | $28.04M | No quote | No quote |
| 28 | GT | GOODYEAR TIRE & RUBR CO | 0.72% | Add +21.1% | 859,076 | $27.75M | $32.30 | No quote |
| 29 | LUV | SOUTHWEST AIRLS CO | 0.58% | Reduce -83.4% | 576,838 | $22.43M | $38.89 | No quote |
| 30 | DAL | DELTA AIR LINES INC DEL | 0.49% | New | 481,350 | $18.95M | $39.36 | No quote |
| 31 | WMIH | WMIH CORP | 0.47% | Reduce -52.4% | 7,800,000 | $18.25M | No quote | No quote |
| 32 | KYN | KAYNE ANDERSON MLP INVT CO | 0.42% | - | 781,173 | $16.12M | No quote | No quote |
| 33 | GLBL | TERRAFORM GLOBAL INC | 0.41% | Add +4.0% | 3,847,657 | $15.81M | No quote | No quote |
| 34 | DVMT | DELL TECHNOLOGIES INC | 0.41% | New | 330,000 | $15.77M | No quote | No quote |
| 35 | USFD | US FOODS HLDG CORP | 0.38% | Reduce -15.8% | 622,762 | $14.7M | $23.61 | No quote |
| 36 | SPY | SPDR S&P 500 ETF TR | 0.13% | - | 22,854 | $4.94M | $216.29 | No quote |
| 37 | C | CITIGROUP INC | 0.12% | New | 100,000 | $4.72M | $47.23 | No quote |
| 38 | NXPI | NXP SEMICONDUCTORS N V | 0.08% | Reduce -97.8% | 30,999 | $3.16M | $102.00 | No quote |
| 39 | GM | GENERAL MTRS CO | 0.08% | Reduce -93.2% | 94,826 | $3.01M | $31.77 | No quote |
| 40 | GMWSB | GENERAL MTRS CO | 0.07% | - | 190,011 | $2.65M | No quote | No quote |
| 41 | KMIWS | KINDER MORGAN INC DEL | 0.00% | - | 793,836 | $12K | No quote | No quote |
| 49 | FOX | TWENTY FIRST CENTY FOX INC | - | Sold | 0 | $0 | No quote | No quote |
| 48 | FOXA | TWENTY FIRST CENTY FOX INC | - | Sold | 0 | $0 | No quote | No quote |
| 47 | TGI | TRIUMPH GROUP INC NEW | - | Sold | 0 | $0 | No quote | No quote |
| 46 | QHC | QUORUM HEALTH CORP | - | Sold | 0 | $0 | No quote | No quote |
| 45 | PPG | PPG INDS INC | - | Sold | 0 | $0 | No quote | No quote |
| 44 | IR | INGERSOLL-RAND PLC | - | Sold | 0 | $0 | No quote | No quote |
| 43 | GMWSA | GENERAL MTRS CO | - | Sold | 0 | $0 | No quote | No quote |
| 42 | CYH | COMMUNITY HEALTH SYS INC NEW | - | 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.
| 1 | SPY | SPDR S&P 500 ETF TRTR UNIT | PUT | New | 2,500,000 | $540.75M |