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 16 of 32 rows. Rows without a quote are marked unavailable.
| 1 | MU | MICRON TECHNOLOGY INC | 23.41% | Add +20.3% | 19,250,000 | $795.6M | $41.33 | No quote |
| 2 | AGN | ALLERGAN PLC | 13.50% | Add +172.5% | 3,133,864 | $458.83M | No quote | No quote |
| 3 | PCG | PG&E CORP | 12.10% | Add +257.2% | 23,099,000 | $411.16M | $17.80 | No quote |
| 4 | META | FACEBOOK INC | 9.81% | Add +40.4% | 2,000,000 | $333.38M | $166.69 | No quote |
| 5 | AMZN | AMAZON COM INC | 8.65% | New | 165,000 | $293.82M | $1780.75 | No quote |
| 6 | AABA | ALTABA INC | 5.13% | Add +0.2% | 2,350,000 | $174.18M | No quote | No quote |
| 7 | GOOG | ALPHABET INC | 5.01% | Reduce -0.4% | 145,000 | $170.13M | $1173.31 | No quote |
| 8 | BABA | ALIBABA GROUP HLDG LTD | 3.76% | New | 700,000 | $127.72M | $182.45 | No quote |
| 9 | CZR | CAESARS ENTMT CORP | 3.52% | Add +3.6% | 13,747,240 | $119.46M | $8.69 | No quote |
| 10 | ET | ENERGY TRANSFER LP | 3.03% | Reduce -13.3% | 6,697,763 | $102.95M | $15.37 | No quote |
| 11 | AMLP | ALPS ETF TR | 2.21% | Add +6.1% | 7,500,000 | $75.23M | $10.03 | No quote |
| 12 | TMUS | T MOBILE US INC | 1.83% | Reduce -13.4% | 899,548 | $62.16M | $69.10 | No quote |
| 13 | UNH | UNITEDHEALTH GROUP INC | 1.82% | - | 250,000 | $61.82M | $247.26 | No quote |
| 14 | VST | VISTRA ENERGY CORP | 1.73% | Reduce -10.7% | 2,260,970 | $58.85M | $26.03 | No quote |
| 15 | LNG | CHENIERE ENERGY INC | 1.18% | - | 586,655 | $40.1M | No quote | No quote |
| 16 | CRM | SALESFORCE COM INC | 0.93% | New | 200,000 | $31.67M | $158.37 | No quote |
| 17 | ADBE | ADOBE INC | 0.78% | New | 100,000 | $26.65M | $266.49 | No quote |
| 18 | COOP | MR COOPER GROUP INC | 0.74% | Reduce -36.4% | 2,610,000 | $25.03M | No quote | No quote |
| 19 | CWEN | CLEARWAY ENERGY INC | 0.38% | New | 850,000 | $12.84M | No quote | No quote |
| 20 | XLE | SELECT SECTOR SPDR TR | 0.19% | New | 100,000 | $6.61M | No quote | No quote |
| 21 | XOP | SPDR SERIES TRUST | 0.18% | New | 200,000 | $6.15M | $30.74 | No quote |
| 22 | CWEN-A | CLEARWAY ENERGY INC | 0.11% | New | 250,000 | $3.64M | No quote | No quote |
| 30 | WFC | WELLS FARGO CO NEW | - | Sold | 0 | $0 | No quote | No quote |
| 29 | TERP | TERRAFORM PWR INC | - | Sold | 0 | $0 | No quote | No quote |
| 28 | PAH | PLATFORM SPECIALTY PRODS COR | - | Sold | 0 | $0 | No quote | No quote |
| 27 | NRG | NRG ENERGY INC | - | Sold | 0 | $0 | No quote | No quote |
| 26 | KMT | KENNAMETAL INC | - | Sold | 0 | $0 | No quote | No quote |
| 25 | BAC | BANK AMER CORP | - | Sold | 0 | $0 | No quote | No quote |
| 24 | AY | ATLANTICA YIELD PLC | - | Sold | 0 | $0 | No quote | No quote |
| 23 | ALL | ALLSTATE CORP | - | 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 | BABA | ALIBABA GROUP HLDG LTDSPONSORED ADS | CALL | New | 300,000 | $54.74M |
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 | 24,408,230 | $35.36M |