Appaloosa

Q2 2026 13F · by David Tepper, portfolio manager

As of: Jun 30, 2026
Filed: Aug 14, 2026
US stock: $7.5B · prev $5.9B
Positions: 25 · prev 31
Options notional: $254M
Documents: 1· no amendments

Picture96.7% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 96.7%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 3.3%
Calls at notional value 0.0%

Moves36 since the prior filing

+12.7 pp in · −13.4 pp out

New 6 +6.97 pp
Added 11 +5.76 pp
Trimmed 5 −0.25 pp
Exited 12 −13.12 pp

Options: 2 moves on a notional base, in the table below.

The book

Concentrated · behaves like 11 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 80% a year, about 1.3 years per position

Low
Moderate
High

Top 5 positions58% of US stock

Positions25 in this filing · 12 exited


AMZNAmazon.Com Inc	15.95%	5,000,000	$1.2B	added+16%	+0.79 pp	30 q
MUMicron Technology, Inc.	15.06%	975,000	$1.1B	trimmed−41%	+5.58 pp	13 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	10.55%	1,650,000	$788M	added+24%	+2.99 pp	13 q
GOOGAlphabet Inc. Class C	8.75%	1,850,000	$654M	added+7%	+0.37 pp	49 q
UBERUber Technologies, Inc.	7.43%	7,694,071	$555M	added+22%	−0.25 pp	21 q
EWYiShares MSCI South Korea ETF	6.55%	2,425,000	$490M	added+1%	+1.57 pp	3 q
METAMeta Platforms, Inc. Class A	5.09%	675,000	$380M	added+55%	+0.88 pp	40 q
VSTVistra Corp.	4.70%	2,215,272	$351M	added+10%	−0.42 pp	8 q
NVDANvidia Corp	4.08%	1,525,000	$305M	added+4%	−0.25 pp	14 q
NRGNRG Energy, Inc.	3.44%	1,760,000	$257M	added+1%	−0.83 pp	8 q
BABAAlibaba Group Holding Limited	2.57%	2,000,000	$192M	trimmed−42%	−4.76 pp	17 q
BABoeing Company	2.32%	800,000	$173M	new	+2.32 pp	new
LRCXLam Research Corp	2.22%	382,500	$166M	held	—	13 q
BIDUBaidu, Inc.	1.98%	1,295,000	$148M	added+87%	+0.68 pp	13 q
AALAmerican Airlines Group Inc.	1.81%	7,500,000	$136M	new	+1.81 pp	new
AMDAdvanced Micro Devices	1.54%	197,500	$115M	trimmed−11%	+0.78 pp	4 q
CRWVCoreWeave, Inc. Class A	1.44%	1,078,248	$107M	new	+1.44 pp	new
ASMLASML Holding NV	1.33%	50,000	$99M	added+1%	+0.23 pp	13 q
AVGOBroadcom Inc.	0.76%	150,000	$57M	new	+0.76 pp	new
QCOMQualcomm Inc	0.62%	250,000	$46M	trimmed−50%	−0.46 pp	13 q
SPCXSpace Exploration Technologies Corp. Class A	0.51%	225,000	$38M	new	+0.51 pp	new
ETEnergy Transfer LP	0.40%	1,576,125	$30M	held	—	37 q
MPLXMplx LP	0.38%	502,460	$28M	held	—	23 q
WHRWhirlpool Corp.	0.38%	715,000	$28M	trimmed−63%	−1.39 pp	5 q
GTGoodyear Tire & Rubber	0.13%	1,508,591	$10M	new	+0.13 pp	new
SNDKSandisk Corporation	—	−281,250	—	exited	−3.01 pp	—
GLWCorning Incorporated	—	−1,129,500	—	exited	−2.59 pp	—
PDDPDD Holdings Inc.	—	−900,000	—	exited	−1.55 pp	—
LHXL3Harris Technologies, Inc.	—	−198,000	—	exited	−1.15 pp	—
RTXRTX Corporation	—	−342,000	—	exited	−1.11 pp	—
BALLBall Corporation	—	−837,000	—	exited	−0.83 pp	—
JDJD.com, Inc.	—	−1,305,000	—	exited	−0.65 pp	—
LYFTLyft, Inc. Class A	—	−2,700,000	—	exited	−0.61 pp	—
MSFTMicrosoft Corp	—	−90,000	—	exited	−0.56 pp	—
KWEBKraneShares CSI China Internet ETF	—	−1,080,000	—	exited	−0.52 pp	—
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	—	−90,000	—	exited	−0.41 pp	—
DBDeutsche Bank Aktiengesellschaft	—	−257,616	—	exited	−0.13 pp	—