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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Updated 2026-06-06 from SEC 13F data.
Live quotes available for 40 of 61 rows. Rows without a quote are marked unavailable.
| 1 | MU | MICRON TECHNOLOGY INC | 19.17% | Add +28.8% | 35,405,000 | $1.85B | $52.14 | No quote |
| 2 | META | FACEBOOK INC | 10.31% | Add +12.3% | 6,210,000 | $992.3M | $159.79 | No quote |
| 3 | BABA | ALIBABA GROUP HLDG LTD | 7.73% | Reduce -6.2% | 4,052,616 | $743.82M | $183.54 | No quote |
| 4 | AGN | ALLERGAN PLC | 6.47% | Add +6.8% | 3,700,000 | $622.67M | No quote | No quote |
| 5 | AABA | ALTABA INC | 6.17% | Reduce -9.5% | 8,021,000 | $593.88M | No quote | No quote |
| 6 | GOOG | ALPHABET INC | 4.35% | Add +14.1% | 405,847 | $418.75M | $1031.79 | No quote |
| 7 | BAC | BANK AMER CORP | 3.42% | Reduce -36.1% | 10,965,513 | $328.86M | $29.99 | No quote |
| 8 | LRCX | LAM RESEARCH CORP | 2.73% | New | 1,295,586 | $263.21M | $203.16 | No quote |
| 9 | TMUS | T MOBILE US INC | 2.63% | Add +7.6% | 4,150,000 | $253.32M | $61.04 | No quote |
| 10 | XPO | XPO LOGISTICS INC | 2.26% | Reduce -3.2% | 2,133,070 | $217.17M | $101.81 | No quote |
| 11 | ALLY | ALLY FINL INC | 2.24% | Reduce -1.1% | 7,948,145 | $215.79M | $27.15 | No quote |
| 12 | NRG | NRG ENERGY INC | 2.14% | Reduce -31.0% | 6,734,603 | $205.61M | $30.53 | No quote |
| 13 | WFC | WELLS FARGO CO NEW | 1.60% | New | 2,937,615 | $153.96M | $52.41 | No quote |
| 14 | UNH | UNITEDHEALTH GROUP INC | 1.57% | Add +19.4% | 706,589 | $151.21M | $214.00 | No quote |
| 15 | MGM | MGM RESORTS INTERNATIONAL | 1.48% | Add +74.9% | 4,069,504 | $142.51M | $35.02 | No quote |
| 16 | CZR | CAESARS ENTMT CORP | 1.48% | Add +116.0% | 12,655,674 | $142.38M | $11.25 | No quote |
| 17 | CNC | CENTENE CORP DEL | 1.36% | Add +61.3% | 1,223,717 | $130.78M | $106.87 | No quote |
| 18 | QQQ | POWERSHARES QQQ TRUST | 1.28% | Reduce -86.7% | 772,225 | $123.66M | $160.13 | No quote |
| 19 | TMO | THERMO FISHER SCIENTIFIC INC | 1.28% | Add +4.4% | 597,000 | $123.26M | $206.46 | No quote |
| 20 | UBS | UBS GROUP AG | 1.27% | New | 6,955,399 | $122.46M | $17.61 | No quote |
| 21 | OC | OWENS CORNING NEW | 1.18% | Add +43.4% | 1,416,704 | $113.9M | $80.40 | No quote |
| 22 | DG | DOLLAR GEN CORP NEW | 1.18% | Add +47.3% | 1,214,776 | $113.64M | $93.55 | No quote |
| 23 | HUN | HUNTSMAN CORP | 1.14% | Add +41.9% | 3,736,630 | $109.3M | $29.25 | No quote |
| 24 | ETP | ENERGY TRANSFER PARTNERS LP | 1.13% | Reduce -18.2% | 6,687,818 | $108.48M | No quote | No quote |
| 25 | BSX | BOSTON SCIENTIFIC CORP | 1.11% | Reduce -18.2% | 3,910,738 | $106.84M | $27.32 | No quote |
| 26 | WPZ | WILLIAMS PARTNERS L P NEW | 0.97% | Reduce -26.7% | 2,723,404 | $93.77M | No quote | No quote |
| 27 | ET | ENERGY TRANSFER EQUITY L P | 0.93% | Add +24.3% | 6,291,534 | $89.4M | $14.21 | No quote |
| 28 | AMAT | APPLIED MATLS INC | 0.91% | New | 1,570,000 | $87.31M | $55.61 | No quote |
| 29 | SMH | VANECK VECTORS ETF TR | 0.80% | New | 737,000 | $76.85M | $104.28 | No quote |
| 30 | KMT | KENNAMETAL INC | 0.79% | Add +33.8% | 1,887,507 | $75.8M | $40.16 | No quote |
| 31 | AY | ATLANTICA YIELD PLC | 0.78% | Add +8.2% | 3,832,000 | $75.03M | No quote | No quote |
| 32 | SUM | SUMMIT MATLS INC | 0.77% | Reduce -2.1% | 2,458,806 | $74.45M | No quote | No quote |
| 33 | PCG | PG&E CORP | 0.75% | Add +46.0% | 1,650,000 | $72.49M | $43.93 | No quote |
| 34 | SYK | STRYKER CORP | 0.62% | - | 371,000 | $59.7M | $160.92 | No quote |
| 35 | ALL | ALLSTATE CORP | 0.52% | Reduce -30.4% | 527,833 | $50.04M | $94.80 | No quote |
| 36 | LNG | CHENIERE ENERGY INC | 0.51% | Add +419.5% | 919,741 | $49.16M | No quote | No quote |
| 37 | AMLP | ALPS ETF TR | 0.49% | New | 5,068,188 | $47.49M | $9.37 | No quote |
| 38 | WDC | WESTERN DIGITAL CORP | 0.48% | Reduce -16.7% | 500,000 | $46.14M | $92.27 | No quote |
| 39 | TERP | TERRAFORM PWR INC | 0.46% | Reduce -11.1% | 4,127,600 | $44.29M | No quote | No quote |
| 40 | KNX | KNIGHT SWIFT TRANSN HLDGS IN | 0.45% | New | 950,000 | $43.71M | $46.01 | No quote |
| 41 | BYD | BOYD GAMING CORP | 0.45% | New | 1,354,896 | $43.17M | $31.86 | No quote |
| 42 | PAH | PLATFORM SPECIALTY PRODS COR | 0.38% | New | 3,798,055 | $36.58M | No quote | No quote |
| 43 | UAL | UNITED CONTL HLDGS INC | 0.38% | New | 525,289 | $36.49M | $69.47 | No quote |
| 44 | NVDA | NVIDIA CORP | 0.36% | New | 150,000 | $34.74M | $231.59 | No quote |
| 45 | XLE | SELECT SECTOR SPDR TR | 0.35% | Reduce -75.1% | 500,000 | $33.71M | No quote | No quote |
| 46 | VNTRQ | VENATOR MATLS PLC | 0.34% | Add +2.2% | 1,787,328 | $32.33M | No quote | No quote |
| 47 | HCA | HCA HEALTHCARE INC | 0.28% | Reduce -48.8% | 282,884 | $27.44M | $97.00 | No quote |
| 48 | BTU | PEABODY ENERGY CORP NEW | 0.22% | New | 591,424 | $21.59M | $36.50 | No quote |
| 49 | XOP | SPDR SERIES TRUST | 0.18% | Reduce -75.1% | 500,000 | $17.61M | $35.22 | No quote |
| 50 | XLF | SELECT SECTOR SPDR TR | 0.09% | Reduce -97.3% | 300,000 | $8.27M | $27.57 | No quote |
| 51 | WMIH | WMIH CORP | 0.05% | Reduce -56.9% | 3,274,234 | $4.65M | No quote | No quote |
| 52 | URI | UNITED RENTALS INC | 0.02% | Reduce -98.3% | 12,913 | $2.23M | $172.69 | No quote |
| 60 | VST | VISTRA ENERGY CORP | - | Sold | 0 | $0 | No quote | No quote |
| 59 | LUV | SOUTHWEST AIRLS CO | - | Sold | 0 | $0 | No quote | No quote |
| 58 | BTUPR | PEABODY ENERGY CORP NEW | - | Sold | 0 | $0 | No quote | No quote |
| 57 | MHK | MOHAWK INDS INC | - | Sold | 0 | $0 | No quote | No quote |
| 56 | EEM | ISHARES TR | - | Sold | 0 | $0 | No quote | No quote |
| 55 | CSX | CSX CORP | - | Sold | 0 | $0 | No quote | No quote |
| 54 | CMCSA | COMCAST CORP NEW | - | Sold | 0 | $0 | No quote | No quote |
| 53 | AAPL | APPLE INC | - | Sold | 0 | $0 | No quote | No quote |
Other instruments
Bonds, warrants, or non-share principal positions reported alongside the equity portfolio.
| 1 | CZR 5 10/01/24 | CAESARS ENTMT CORPNOTE 5.000%10/0 | OTHER | 48,992,834 | $86.84M |