David Tepper
Appaloosa
Founder of Appaloosa, made his name buying distressed debt and banks at the bottom of 2009. Shifts between sectors on macro calls.
13F portfolio value
Q2 2026
$7.47B
1-year growth
+15.9%
2-year growth
+21.0%
Positions
25
Top 10 share
81.6%
Quarterly turnover
16.5%
Last filed
Aug 14, 2026
Source: SEC EDGAR · Photo: Appaloosa Management (CC BY-SA 3.0)
Q2 2026: summary
MakklerAI- Appaloosa reported a $7.5B portfolio with 25 positions, down from 31 last quarter; turnover was 16.5%.
- AMZN rose 15.7% to 16.0% of the portfolio, or $1.2B, remaining the largest holding.
- MU was cut 41.4% but remained a 15.1% holding worth $1.1B; TSM grew 24.3% to 10.5%, or $788M.
- The top 10 holdings made up 81.6% of the portfolio; 12 positions were sold out, including SNDK and GLW.
Portfolio value (13F)
$6.18BQ2 2024
$6.73BQ3 2024
$6.46BQ4 2024
$5.57BQ1 2025
$6.45BQ2 2025
$7.38BQ3 2025
$6.85BQ4 2025
$5.93BQ1 2026
$7.47BQ2 2026
| Quarter | Value | Positions | New | Added | Trimmed | Sold | Quarterly turnover |
|---|---|---|---|---|---|---|---|
| Q2 2026 | $7.47B | 25 | 6 | 11 | 5 | 12 | 16.5% |
| Q1 2026 | $5.93B | 31 | 1 | 8 | 22 | 8 | 22.3% |
| Q4 2025 | $6.85B | 38 | 2 | 12 | 24 | 9 | 15.8% |
| Q3 2025 | $7.38B | 45 | 10 | 9 | 24 | 3 | 19.5% |
| Q2 2025 | $6.45B | 38 | 8 | 8 | 16 | 5 | 20.6% |
| Q1 2025 | $5.57B | 35 | 4 | 7 | 21 | 6 | 7.1% |
| Q4 2024 | $6.46B | 37 | 2 | 16 | 12 | 3 | 11.1% |
| Q3 2024 | $6.73B | 38 | 4 | 4 | 28 | 3 | 14.4% |
| Q2 2024 | $6.18B | 37 | — | — | — | — | — |
Weight of the largest positions
The latest quarter's 10 largest positions, with their weights in earlier quarters.
| Stock | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|---|
| AMZN | 10.9% | 8.9% | 8.8% | 8.6% | 9.2% | 7.4% | 7.3% | 15.2% | 16.0% |
| MU | 2.5% | 1.6% | 1.6% | 0.6% | 1.6% | 1.1% | 6.2% | 9.5% | 15.1% |
| TSM | 1.3% | 1.0% | 0.8% | 0.8% | 3.6% | 4.0% | 5.0% | 7.6% | 10.5% |
| GOOG | 5.7% | 4.7% | 5.5% | 5.6% | 4.1% | 4.6% | 8.2% | 8.4% | 8.7% |
| UBER | 1.8% | 1.6% | 1.4% | 4.2% | 4.0% | 3.2% | 2.2% | 7.7% | 7.4% |
| EWY | — | — | — | — | — | — | 2.7% | 5.0% | 6.6% |
| META | 7.6% | 5.3% | 4.4% | 5.7% | 4.6% | 3.7% | 5.8% | 4.2% | 5.1% |
| VST | — | 2.2% | 5.8% | 4.9% | 5.4% | 3.3% | 2.2% | 5.1% | 4.7% |
| NVDA | 1.4% | 1.1% | 1.4% | 0.6% | 4.3% | 4.8% | 4.6% | 4.3% | 4.1% |
| NRG | — | 1.4% | 2.5% | 3.5% | 4.9% | 4.1% | 3.8% | 4.3% | 3.4% |
| BABA | 12.2% | 15.8% | 15.5% | 21.9% | 12.4% | 15.6% | 11.0% | 7.3% | 2.6% |
| BA | 0.6% | — | — | — | — | — | — | — | 2.3% |
| LRCX | — | — | 1.4% | 0.7% | 0.6% | 0.7% | 1.1% | 1.4% | 2.2% |
| BIDU | 2.3% | 2.2% | 2.0% | 1.3% | 0.8% | 1.9% | 1.1% | 1.3% | 2.0% |
| AAL | — | — | — | — | — | 1.4% | 3.2% | — | 1.8% |
| AMD | 3.6% | 2.8% | 2.2% | — | — | 2.1% | 1.0% | 0.8% | 1.5% |
| CRWV | — | — | — | — | — | — | — | — | 1.4% |
| Asml Holding N V | 1.4% | 1.0% | 1.7% | 0.8% | 0.9% | 0.8% | 1.0% | 1.1% | 1.3% |
| AVGO | — | — | — | 0.4% | — | — | — | — | 0.8% |
| QCOM | 2.7% | 2.0% | 1.9% | 1.0% | 0.9% | 2.8% | 2.9% | 1.1% | 0.6% |
| SPCX | — | — | — | — | — | — | — | — | 0.5% |
| ET | 2.0% | 1.6% | 1.5% | 1.7% | 1.4% | 1.2% | 0.5% | 0.5% | 0.4% |
| MPLX | 0.4% | 0.4% | 0.4% | 0.6% | 0.5% | 0.4% | 0.5% | 0.5% | 0.4% |
| WHR | — | — | — | — | 0.4% | 5.9% | 4.1% | 1.8% | 0.4% |
| GT | — | — | — | — | 0.1% | 0.5% | 0.3% | — | 0.1% |
MakklerAI
Ask MakklerAI about David Tepper's portfolio
Explore this quarter's moves and where each position stands against its estimated buy price and Makkler Fair Value. Answers are based on the 13F and today's prices.