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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Updated 2026-09-19 from SEC 13F data.
Live quotes available for 36 of 65 rows. Rows without a quote are marked unavailable.
| 1 | AGN | ALLERGAN PLC | 12.24% | Reduce -31.1% | 2,937,121 | $701.74M | No quote | No quote |
| 2 | ETP | ENERGY TRANSFER PRTNRS L P | 7.62% | - | 11,961,842 | $436.85M | No quote | No quote |
| 3 | WPZ | WILLIAMS PARTNERS L P NEW | 7.10% | Add +5.0% | 9,966,502 | $406.93M | No quote | No quote |
| 4 | GOOG | ALPHABET INC | 6.87% | Reduce -1.7% | 475,000 | $394.04M | $829.56 | No quote |
| 5 | META | FACEBOOK INC | 4.73% | Reduce -12.6% | 1,907,350 | $270.94M | $142.05 | No quote |
| 6 | PNC | PNC FINL SVCS GROUP INC | 4.09% | - | 1,950,973 | $234.59M | $120.24 | No quote |
| 7 | BAC | BANK AMER CORP | 3.61% | New | 8,782,641 | $207.18M | $23.59 | No quote |
| 8 | MU | MICRON TECHNOLOGY INC | 3.37% | Add +105.8% | 6,690,000 | $193.34M | $28.90 | No quote |
| 9 | GM | GENERAL MTRS CO | 3.20% | New | 5,181,277 | $183.21M | $35.36 | No quote |
| 10 | LUV | SOUTHWEST AIRLS CO | 2.90% | Add +159.4% | 3,088,076 | $166.02M | $53.76 | No quote |
| 11 | OC | OWENS CORNING NEW | 2.79% | Reduce -3.9% | 2,610,486 | $160.21M | $61.37 | No quote |
| 12 | ALL | ALLSTATE CORP | 2.64% | Reduce -28.5% | 1,856,203 | $151.26M | $81.49 | No quote |
| 13 | HUN | HUNTSMAN CORP | 2.38% | Reduce -2.6% | 5,565,360 | $136.57M | $24.54 | No quote |
| 14 | MHK | MOHAWK INDS INC | 2.26% | Reduce -10.8% | 563,596 | $129.34M | $229.49 | No quote |
| 15 | RF | REGIONS FINL CORP NEW | 2.23% | Add +20.1% | 8,811,564 | $128.03M | $14.53 | No quote |
| 16 | KMI | KINDER MORGAN INC DEL | 2.00% | Add +29.7% | 5,267,996 | $114.53M | $21.74 | No quote |
| 17 | AY | ATLANTICA YIELD PLC | 1.90% | Reduce -10.8% | 5,189,866 | $108.78M | No quote | No quote |
| 18 | TERP | TERRAFORM PWR INC | 1.88% | - | 8,708,708 | $107.73M | No quote | No quote |
| 19 | WDC | WESTERN DIGITAL CORP | 1.87% | Add +16.1% | 1,300,000 | $107.29M | $82.53 | No quote |
| 20 | PFE | PFIZER INC | 1.80% | Reduce -37.2% | 3,021,000 | $103.35M | $34.21 | No quote |
| 21 | YHOO | YAHOO INC | 1.78% | Add +63.0% | 2,200,000 | $102.1M | No quote | No quote |
| 22 | URI | UNITED RENTALS INC | 1.53% | Add +7.0% | 703,117 | $87.93M | $125.05 | No quote |
| 23 | CNC | CENTENE CORP DEL | 1.46% | Add +49.6% | 1,174,597 | $83.7M | $71.26 | No quote |
| 24 | BSX | BOSTON SCIENTIFIC CORP | 1.45% | Add +507.3% | 3,340,000 | $83.07M | $24.87 | No quote |
| 25 | WHR | WHIRLPOOL CORP | 1.44% | Reduce -15.0% | 481,938 | $82.57M | $171.33 | No quote |
| 26 | MYL | MYLAN N V | 1.29% | Reduce -42.0% | 1,900,000 | $74.08M | No quote | No quote |
| 27 | CBS | CBS CORP NEW | 1.26% | New | 1,044,381 | $72.44M | No quote | No quote |
| 28 | TEVA | TEVA PHARMACEUTICAL INDS LTD | 1.22% | Reduce -57.0% | 2,175,000 | $69.8M | $32.09 | No quote |
| 29 | SUM | SUMMIT MATLS INC | 1.11% | Add +51.5% | 2,566,546 | $63.42M | No quote | No quote |
| 30 | UNH | UNITEDHEALTH GROUP INC | 0.86% | New | 300,000 | $49.2M | $164.01 | No quote |
| 31 | SYMC | SYMANTEC CORP | 0.83% | New | 1,550,000 | $47.55M | No quote | No quote |
| 32 | HCA | HCA HOLDINGS INC | 0.76% | Reduce -57.4% | 487,711 | $43.4M | $88.99 | No quote |
| 33 | AAPL | APPLE INC | 0.75% | Reduce -33.3% | 300,000 | $43.1M | $143.66 | No quote |
| 34 | CHTR | CHARTER COMMUNICATIONS INC N | 0.74% | New | 129,784 | $42.48M | $327.32 | No quote |
| 35 | MT | ARCELORMITTAL SA LUXEMBOURG | 0.73% | Add +410.5% | 4,985,456 | $41.63M | $8.35 | No quote |
| 36 | KMT | KENNAMETAL INC | 0.69% | Reduce -0.4% | 1,005,758 | $39.46M | $39.23 | No quote |
| 37 | NUE | NUCOR CORP | 0.57% | New | 542,714 | $32.41M | $59.72 | No quote |
| 38 | DAL | DELTA AIR LINES INC DEL | 0.51% | Add +168.5% | 639,000 | $29.37M | $45.96 | No quote |
| 39 | HAIN | HAIN CELESTIAL GROUP INC | 0.50% | Reduce -23.8% | 774,169 | $28.8M | No quote | No quote |
| 40 | AMLP | ALPS ETF TR | 0.47% | Reduce -55.7% | 2,108,582 | $26.8M | $12.71 | No quote |
| 41 | UAL | UNITED CONTL HLDGS INC | 0.45% | Add +127.9% | 364,615 | $25.76M | $70.64 | No quote |
| 42 | TMO | THERMO FISHER SCIENTIFIC INC | 0.43% | New | 160,000 | $24.58M | $153.60 | No quote |
| 43 | GLBL | TERRAFORM GLOBAL INC | 0.32% | - | 3,847,657 | $18.47M | No quote | No quote |
| 44 | RIO | RIO TINTO PLC | 0.28% | Add +334.0% | 395,143 | $16.07M | $40.68 | No quote |
| 45 | X | UNITED STATES STL CORP NEW | 0.27% | Add +25.9% | 453,339 | $15.33M | No quote | No quote |
| 46 | MCK | MCKESSON CORP | 0.26% | Reduce -63.6% | 100,000 | $14.83M | $148.26 | No quote |
| 47 | KYN | KAYNE ANDERSON MLP INVT CO | 0.24% | Reduce -17.8% | 641,989 | $13.48M | No quote | No quote |
| 48 | WMIH | WMIH CORP | 0.19% | - | 7,600,000 | $11.02M | No quote | No quote |
| 49 | AKS | AK STL HLDG CORP | 0.07% | New | 534,327 | $3.84M | No quote | No quote |
| 50 | GT | GOODYEAR TIRE & RUBR CO | 0.05% | Reduce -68.0% | 75,951 | $2.73M | $36.00 | No quote |
| 51 | SNAP | SNAP INC | 0.04% | New | 100,000 | $2.25M | $22.53 | No quote |
| 52 | KMIWS | KINDER MORGAN INC DEL | 0.00% | - | 793,836 | $2K | No quote | No quote |
| 63 | TPX | TEMPUR SEALY INTL INC | - | Sold | 0 | $0 | No quote | No quote |
| 62 | TECK | TECK RESOURCES LTD | - | Sold | 0 | $0 | No quote | No quote |
| 61 | SPY | SPDR S&P 500 ETF TR | - | Sold | 0 | $0 | No quote | No quote |
| 60 | QCOM | QUALCOMM INC | - | Sold | 0 | $0 | No quote | No quote |
| 59 | JCP | PENNEY J C INC | - | Sold | 0 | $0 | No quote | No quote |
| 58 | GMWSB | GENERAL MTRS CO | - | Sold | 0 | $0 | No quote | No quote |
| 57 | CMA | COMERICA INC | - | Sold | 0 | $0 | No quote | No quote |
| 56 | CFG | CITIZENS FINL GROUP INC | - | Sold | 0 | $0 | No quote | No quote |
| 55 | BMY | BRISTOL MYERS SQUIBB CO | - | Sold | 0 | $0 | No quote | No quote |
| 54 | ARCH | ARCH COAL INC | - | Sold | 0 | $0 | No quote | No quote |
| 53 | AAL | AMERICAN AIRLS GROUP INC | - | 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.