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 35 of 62 rows. Rows without a quote are marked unavailable.
| 1 | MU | MICRON TECHNOLOGY INC | 9.71% | Add +32.2% | 17,053,999 | $670.73M | $39.33 | No quote |
| 2 | BABA | ALIBABA GROUP HLDG LTD | 8.91% | Reduce -3.6% | 3,562,500 | $615.28M | $172.71 | No quote |
| 3 | META | FACEBOOK INC | 8.16% | Add +40.0% | 3,300,000 | $563.87M | $170.87 | No quote |
| 4 | GOOG | ALPHABET INC | 7.88% | Reduce -2.9% | 568,000 | $544.77M | $959.11 | No quote |
| 5 | AGN | ALLERGAN PLC | 5.60% | Reduce -24.8% | 1,888,188 | $386.98M | No quote | No quote |
| 6 | AABA | ALTABA INC | 4.49% | Reduce -8.7% | 4,682,500 | $310.17M | No quote | No quote |
| 7 | WPZ | WILLIAMS PARTNERS L P NEW | 4.19% | Reduce -19.0% | 7,436,701 | $289.29M | No quote | No quote |
| 8 | WDC | WESTERN DIGITAL CORP | 3.22% | Add +0.2% | 2,575,138 | $222.49M | $86.40 | No quote |
| 9 | ETP | ENERGY TRANSFER PARTNERS LP | 3.16% | Reduce -19.5% | 11,950,000 | $218.57M | No quote | No quote |
| 10 | NRG | NRG ENERGY INC | 3.13% | Add +575.3% | 8,441,193 | $216.01M | $25.59 | No quote |
| 11 | AAPL | APPLE INC | 3.04% | Add +117.8% | 1,361,000 | $209.76M | $154.12 | No quote |
| 12 | QQQ | POWERSHARES QQQ TRUST | 3.01% | Reduce -21.2% | 1,430,000 | $207.99M | $145.45 | No quote |
| 13 | ALLY | ALLY FINL INC | 2.39% | Add +520.4% | 6,810,600 | $165.23M | $24.26 | No quote |
| 14 | OC | OWENS CORNING NEW | 2.38% | Reduce -14.8% | 2,130,353 | $164.78M | $77.35 | No quote |
| 15 | BAC | BANK AMER CORP | 2.32% | Reduce -27.9% | 6,329,404 | $160.39M | $25.34 | No quote |
| 16 | HUN | HUNTSMAN CORP | 2.04% | Reduce -4.2% | 5,135,744 | $140.82M | $27.42 | No quote |
| 17 | ALL | ALLSTATE CORP | 1.95% | Reduce -13.6% | 1,468,871 | $135M | $91.91 | No quote |
| 18 | UNH | UNITEDHEALTH GROUP INC | 1.90% | Add +43.3% | 669,000 | $131.02M | $195.85 | No quote |
| 19 | URI | UNITED RENTALS INC | 1.87% | Reduce -19.3% | 931,880 | $129.29M | $138.74 | No quote |
| 20 | PNC | PNC FINL SVCS GROUP INC | 1.80% | Reduce -48.2% | 922,510 | $124.33M | $134.77 | No quote |
| 21 | TERP | TERRAFORM PWR INC | 1.64% | Reduce -1.8% | 8,552,482 | $113.06M | No quote | No quote |
| 22 | TMO | THERMO FISHER SCIENTIFIC INC | 1.62% | Add +57.9% | 592,000 | $112.01M | $189.20 | No quote |
| 23 | BSX | BOSTON SCIENTIFIC CORP | 1.58% | Add +65.7% | 3,752,866 | $109.47M | $29.17 | No quote |
| 24 | CNC | CENTENE CORP DEL | 1.52% | Add +12.6% | 1,086,164 | $105.11M | $96.77 | No quote |
| 25 | AY | ATLANTICA YIELD PLC | 1.33% | Reduce -0.5% | 4,675,000 | $92.1M | No quote | No quote |
| 26 | ET | ENERGY TRANSFER EQUITY L P | 1.18% | Add +64.2% | 4,672,707 | $81.21M | $17.38 | No quote |
| 27 | MHK | MOHAWK INDS INC | 1.14% | Reduce -31.5% | 317,682 | $78.63M | $247.51 | No quote |
| 28 | SYK | STRYKER CORP | 1.10% | Add +19.8% | 533,000 | $75.7M | $142.02 | No quote |
| 29 | KMT | KENNAMETAL INC | 1.05% | Add +35.5% | 1,800,463 | $72.63M | $40.34 | No quote |
| 30 | WHR | WHIRLPOOL CORP | 0.98% | Reduce -6.2% | 365,976 | $67.5M | $184.44 | No quote |
| 31 | KMI | KINDER MORGAN INC DEL | 0.95% | Reduce -13.6% | 3,407,996 | $65.37M | $19.18 | No quote |
| 32 | SUM | SUMMIT MATLS INC | 0.91% | Reduce -11.4% | 1,963,585 | $62.89M | No quote | No quote |
| 33 | CBS | CBS CORP NEW | 0.75% | Reduce -13.0% | 898,317 | $52.1M | No quote | No quote |
| 34 | DG | DOLLAR GEN CORP NEW | 0.70% | Reduce -35.9% | 599,264 | $48.57M | $81.05 | No quote |
| 35 | LUV | SOUTHWEST AIRLS CO | 0.63% | Add +24.2% | 772,202 | $43.23M | $55.98 | No quote |
| 36 | HAIN | HAIN CELESTIAL GROUP INC | 0.45% | Reduce -17.9% | 757,547 | $31.17M | No quote | No quote |
| 37 | BTUPR | PEABODY ENERGY CORP NEW | 0.27% | New | 301,316 | $18.64M | No quote | No quote |
| 38 | HCA | HCA HEALTHCARE INC | 0.21% | Add +9.5% | 183,711 | $14.62M | $79.59 | No quote |
| 39 | AMAT | APPLIED MATLS INC | 0.19% | New | 250,000 | $13.02M | $52.09 | No quote |
| 40 | GM | GENERAL MTRS CO | 0.15% | Reduce -86.8% | 250,000 | $10.1M | $40.38 | No quote |
| 41 | AERI | AERIE PHARMACEUTICALS INC | 0.12% | Reduce -10.5% | 169,799 | $8.25M | No quote | No quote |
| 42 | WMIH | WMIH CORP | 0.10% | - | 7,600,000 | $7.22M | No quote | No quote |
| 43 | BTU | PEABODY ENERGY CORP NEW | 0.09% | Reduce -78.5% | 216,536 | $6.28M | $29.01 | No quote |
| 44 | XPO | XPO LOGISTICS INC | 0.06% | New | 64,311 | $4.36M | $67.78 | No quote |
| 45 | CHK | CHESAPEAKE ENERGY CORP | 0.05% | Reduce -78.5% | 766,000 | $3.29M | No quote | No quote |
| 46 | AR | ANTERO RES CORP | 0.04% | Reduce -70.0% | 150,000 | $2.99M | $19.90 | No quote |
| 47 | RRC | RANGE RES CORP | 0.04% | Reduce -62.5% | 150,000 | $2.94M | $19.57 | No quote |
| 60 | WFC | WELLS FARGO CO NEW | - | Sold | 0 | $0 | No quote | No quote |
| 59 | XBI | SPDR SERIES TRUST | - | Sold | 0 | $0 | No quote | No quote |
| 58 | SWN | SOUTHWESTERN ENERGY CO | - | Sold | 0 | $0 | No quote | No quote |
| 57 | XLV | SELECT SECTOR SPDR TR | - | Sold | 0 | $0 | No quote | No quote |
| 56 | RIO | RIO TINTO PLC | - | Sold | 0 | $0 | No quote | No quote |
| 55 | NUE | NUCOR CORP | - | Sold | 0 | $0 | No quote | No quote |
| 54 | LB | L BRANDS INC | - | Sold | 0 | $0 | No quote | No quote |
| 53 | KYN | KAYNE ANDERSON MLP INVT CO | - | Sold | 0 | $0 | No quote | No quote |
| 52 | IBB | ISHARES TR | - | Sold | 0 | $0 | No quote | No quote |
| 51 | EXPE | EXPEDIA INC DEL | - | Sold | 0 | $0 | No quote | No quote |
| 50 | DAL | DELTA AIR LINES INC DEL | - | Sold | 0 | $0 | No quote | No quote |
| 49 | CX | CEMEX SAB DE CV | - | Sold | 0 | $0 | No quote | No quote |
| 48 | ATVI | ACTIVISION BLIZZARD 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.