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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Live quotes available for 19 of 29 rows. Rows without a quote are marked unavailable.
| 1 | SPY | SPDR S&P 500 ETF TR | 57.82% | New | 18,206,800 | $5.33B | $293.00 | No quote |
| 2 | QQQ | INVESCO QQQ TR | 16.72% | New | 8,261,400 | $1.54B | $186.74 | No quote |
| 3 | PCG | PG&E CORP | 4.18% | Reduce -27.1% | 16,828,015 | $385.7M | $22.92 | No quote |
| 4 | META | FACEBOOK INC | 3.87% | Reduce -7.5% | 1,850,000 | $357.05M | $193.00 | No quote |
| 5 | AMZN | AMAZON COM INC | 3.80% | Add +12.1% | 185,000 | $350.32M | $1893.63 | No quote |
| 6 | GOOG | ALPHABET INC | 2.52% | Add +48.3% | 215,000 | $232.4M | $1080.91 | No quote |
| 7 | AGN | ALLERGAN PLC | 2.35% | Reduce -58.7% | 1,295,000 | $216.82M | No quote | No quote |
| 8 | CZR | CAESARS ENTMT CORP | 1.43% | Reduce -18.5% | 11,200,000 | $132.38M | $11.82 | No quote |
| 9 | ET | ENERGY TRANSFER LP | 0.89% | Reduce -12.6% | 5,852,527 | $82.4M | $14.08 | No quote |
| 10 | UNH | UNITEDHEALTH GROUP INC | 0.89% | Add +34.0% | 335,000 | $81.74M | $244.01 | No quote |
| 11 | CRM | SALESFORCE COM INC | 0.82% | Add +150.0% | 500,000 | $75.87M | $151.73 | No quote |
| 12 | AABA | ALTABA INC | 0.79% | Reduce -55.3% | 1,050,000 | $72.84M | No quote | No quote |
| 13 | AMLP | ALPS ETF TR | 0.70% | Reduce -12.7% | 6,550,000 | $64.52M | $9.85 | No quote |
| 14 | TMUS | T MOBILE US INC | 0.56% | Reduce -22.2% | 700,000 | $51.9M | $74.14 | No quote |
| 15 | VST | VISTRA ENERGY CORP | 0.42% | Reduce -24.0% | 1,719,100 | $38.92M | $22.64 | No quote |
| 16 | XOP | SPDR SERIES TRUST | 0.38% | Add +550.0% | 1,300,000 | $35.43M | $27.25 | No quote |
| 17 | MU | MICRON TECHNOLOGY INC | 0.38% | Reduce -95.3% | 900,000 | $34.73M | $38.59 | No quote |
| 18 | ADBE | ADOBE INC | 0.36% | Add +12.0% | 112,000 | $33M | $294.65 | No quote |
| 19 | LNG | CHENIERE ENERGY INC | 0.30% | Reduce -30.1% | 410,000 | $28.07M | No quote | No quote |
| 20 | HUM | HUMANA INC | 0.27% | New | 95,391 | $25.31M | $265.30 | No quote |
| 21 | CWEN | CLEARWAY ENERGY INC | 0.13% | Reduce -17.6% | 700,200 | $11.81M | No quote | No quote |
| 22 | I | INTELSAT S A | 0.12% | New | 592,000 | $11.51M | No quote | No quote |
| 23 | COOP | MR COOPER GROUP INC | 0.11% | Reduce -50.6% | 1,290,000 | $10.33M | No quote | No quote |
| 24 | CNC | CENTENE CORP DEL | 0.07% | New | 127,815 | $6.7M | $52.44 | No quote |
| 25 | QCOM | QUALCOMM INC | 0.06% | New | 75,000 | $5.71M | $76.07 | No quote |
| 26 | CWEN/A | CLEARWAY ENERGY INCCUSIP 18539C105 | 0.04% | Reduce -15.9% | 210,200 | $3.4M | No quote | No quote |
| 28 | XLE | SELECT SECTOR SPDR TR | - | Sold | 0 | $0 | No quote | No quote |
| 27 | BABA | ALIBABA GROUP HLDG LTD | - | 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 | 20,000,000 | $34.53M |