Fund · 13F holdings
Appaloosa LP
David Tepper · Miami Beach, FL · Founded 1993
Appaloosa is a Miami Beach-based hedge fund founded in 1993 by David Tepper, one of the most successful distressed and event-driven investors of his generation. The firm is known for bold, concentrated, macro-aware bets — leaning heavily into distressed credit and beaten-down equities at moments of maximum pessimism, as it did coming out of the 2009 and 2020 crises.
Tepper converted Appaloosa toward a family-office structure while continuing to file 13Fs. The book is concentrated and turns over meaningfully as his macro view shifts; Tepper also owns the NFL's Carolina Panthers.
How to read these tables. A Form 13F reports each holding's market value as of the quarter-end date and the share count — not the price the fund paid, when it bought, or any short positions. Buys and sells are inferred by comparing share counts across quarters. Put/call lines are options (often hedges), and their value is notional rather than a straight equity stake. Figures are the fund's US-listed 13(f) holdings only; private positions appear when the manager reports them.
History
1993
Appaloosa founded
David Tepper launches the firm with a focus on distressed debt and special situations.
2009
Post-crisis windfall
Large bets on beaten-down bank securities during the financial crisis produce one of the era's best hedge-fund years.
2019
Buys the Carolina Panthers
Tepper acquires the NFL franchise and shifts Appaloosa toward a family-office structure.
Q2 2026 holdings
Period end
2026-06-30
Filed
2026-08-14
Portfolio value
$7.73B
Positions
27
We track
13
| # | Company | Class | Value | Shares | % Port. | vs prior |
|---|---|---|---|---|---|---|
| 1 | AMZNAmazon.com, Inc.★ | COM | $1.19B | 5.0M | 15.4% | ADD |
| 2 | MUMicron Technology, Inc.★ | COM | $1.13B | 975K | 14.6% | TRIM |
| 3 | Taiwan Semiconductor Manufac | SPONSORED ADS | $788.0M | 1.6M | 10.2% | ADD |
| 4 | GOOGLAlphabet Inc.★ | CAP STK CL C | $653.7M | 1.9M | 8.5% | ADD |
| 5 | UBERUber Technologies, Inc.★ | COM | $555.2M | 7.7M | 7.2% | ADD |
| 6 | Ishares Inc | MSCI STH KOR ETF | $489.6M | 2.4M | 6.3% | ADD |
| 7 | METAMeta Platforms, Inc.★ | CL A | $380.2M | 675K | 4.9% | ADD |
| 8 | Vistra Corp | COM | $351.4M | 2.2M | 4.5% | ADD |
| 9 | NVDANVIDIA Corporation★ | COM | $305.1M | 1.5M | 3.9% | ADD |
| 10 | Nrg Energy Inc | COM NEW | $257.1M | 1.8M | 3.3% | ADD |
| 11 | AAPLApple Inc.★ | Put | $241.6M | 835K | 3.1% | NEW |
| 12 | Alibaba Group Hldg Ltd | SPONSORED ADS | $192.0M | 2.0M | 2.5% | TRIM |
| 13 | Boeing Co | COM | $173.2M | 800K | 2.2% | NEW |
| 14 | Lam Research Corp | COM NEW | $165.7M | 382K | 2.1% | HOLD |
| 15 | Baidu Inc | SPON ADR REP A | $148.0M | 1.3M | 1.9% | ADD |
| 16 | American Airlines Group Inc | COM | $135.5M | 7.5M | 1.8% | NEW |
| 17 | AMDAdvanced Micro Devices, Inc.★ | COM | $114.7M | 198K | 1.5% | TRIM |
| 18 | CRWVCoreWeave, Inc.★ | COM CL A | $107.3M | 1.1M | 1.4% | NEW |
| 19 | Asml Hldg Nv | N Y REGISTRY SHS | $99.5M | 50K | 1.3% | ADD |
| 20 | AVGOBroadcom Inc.★ | COM | $56.7M | 150K | 0.7% | NEW |
| 21 | QCOMQUALCOMM Incorporated★ | COM | $46.2M | 250K | 0.6% | TRIM |
| 22 | SPCXSpaceX★ | CLASS A COM STK | $38.4M | 225K | 0.5% | NEW |
| 23 | Energy Transfer L P | COM UT LTD PTN | $30.1M | 1.6M | 0.4% | HOLD |
| 24 | Mplx Lp | COM UNIT REP LTD | $28.3M | 502K | 0.4% | HOLD |
| 25 | Whirlpool Corp | COM | $28.2M | 715K | 0.4% | TRIM |
| 26 | BRK-BBerkshire Hathaway Inc. Class B★ | Put | $12.5M | 25K | 0.2% | NEW |
| 27 | Goodyear Tire & Rubr Co | COM | $10.0M | 1.5M | 0.1% | NEW |
Notable Q2 2026 moves
New positions
- AAPL Apple Inc. $241.6M
- Boeing Co $173.2M
- American Airlines Group Inc $135.5M
- CRWV CoreWeave, Inc. $107.3M
- AVGO Broadcom Inc. $56.7M
- SPCX SpaceX $38.4M
- BRK-B Berkshire Hathaway Inc. Class B $12.5M
- Goodyear Tire & Rubr Co $10.0M
Exited
- SNDK Sandisk Corporation was $178.7M
- Corning Inc was $153.6M
- Pdd Holdings Inc was $92.0M
- L3HARRIS Technologies Inc was $68.3M
- Rtx Corporation was $66.0M
- Ball Corp was $49.5M
- JD.COM Inc was $38.6M
- Lyft Inc was $35.9M
- MSFT Microsoft Corporation was $33.3M
- Kraneshares Trust was $30.7M
- UNH UnitedHealth Group Incorporated was $24.4M
- Deutsche Bk Ag was $7.7M
Position history in tracked names
Quarter-end value of each holding that has a page on R40, most recent first.
| Stock | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 |
|---|---|---|---|---|
| AMZNAmazon Com Inc | $1.19B | $899.7M | $503.0M | $548.9M |
| MUMicron Technology Inc | $1.13B | $562.5M | $499.5M | $83.7M |
| GOOGLAlphabet Inc | $653.7M | $497.0M | $560.7M | $337.9M |
| UBERUber Technologies Inc | $555.2M | $455.5M | $151.2M | $235.8M |
| METAMeta Platforms Inc | $380.2M | $249.7M | $396.1M | $271.7M |
| NVDANvidia Corporation | $305.1M | $256.6M | $317.1M | $354.5M |
| AAPLApple Inc | $241.6M | — | — | — |
| AMDAdvanced Micro Devices Inc | $114.7M | $45.0M | $69.6M | $153.7M |
| CRWVCoreweave Inc | $107.3M | — | — | — |
| AVGOBroadcom Inc | $56.7M | — | — | — |
| QCOMQualcomm Inc | $46.2M | $64.2M | $195.9M | $207.1M |
| SPCXSpace Exploration Techn Corp | $38.4M | — | — | — |
| BRK-BBerkshire Hathaway Inc Del | $12.5M | — | — | — |
Earlier filings
Q1 2026 · 31 positions · $5.93B · filed 2026-05-15
| # | Company | Class | Value | Shares | % Port. | vs prior |
|---|---|---|---|---|---|---|
| 1 | AMZNAmazon.com, Inc.★ | COM | $899.7M | 4.3M | 15.2% | ADD |
| 2 | MUMicron Technology, Inc.★ | COM | $562.5M | 1.7M | 9.5% | ADD |
| 3 | GOOGLAlphabet Inc.★ | CAP STK CL C | $497.0M | 1.7M | 8.4% | TRIM |
| 4 | UBERUber Technologies, Inc.★ | COM | $455.5M | 6.3M | 7.7% | ADD |
| 5 | Taiwan Semiconductor Manufac | SPONSORED ADS | $448.6M | 1.3M | 7.6% | ADD |
| 6 | Alibaba Group Hldg Ltd | SPONSORED ADS | $434.7M | 3.5M | 7.3% | TRIM |
| 7 | Vistra Corp | COM | $304.0M | 2.0M | 5.1% | ADD |
| 8 | Ishares Inc | MSCI STH KOR ETF | $295.2M | 2.4M | 5.0% | ADD |
| 9 | NVDANVIDIA Corporation★ | COM | $256.6M | 1.5M | 4.3% | TRIM |
| 10 | Nrg Energy Inc | COM NEW | $253.5M | 1.7M | 4.3% | ADD |
| 11 | METAMeta Platforms, Inc.★ | CL A | $249.7M | 436K | 4.2% | TRIM |
| 12 | SNDKSandisk Corporation★ | COM | $178.7M | 281K | 3.0% | NEW |
| 13 | Corning Inc | COM | $153.6M | 1.1M | 2.6% | TRIM |
| 14 | Whirlpool Corp | COM | $105.1M | 1.9M | 1.8% | TRIM |
| 15 | Pdd Holdings Inc | SPONSORED ADS | $92.0M | 900K | 1.5% | TRIM |
| 16 | Lam Research Corp | COM NEW | $81.7M | 382K | 1.4% | TRIM |
| 17 | Baidu Inc | SPON ADR REP A | $77.1M | 692K | 1.3% | ADD |
| 18 | L3HARRIS Technologies Inc | COM | $68.3M | 198K | 1.2% | TRIM |
| 19 | Rtx Corporation | COM | $66.0M | 342K | 1.1% | TRIM |
| 20 | Asml Hldg Nv | N Y REGISTRY SHS | $65.4M | 50K | 1.1% | TRIM |
| 21 | QCOMQUALCOMM Incorporated★ | COM | $64.2M | 499K | 1.1% | TRIM |
| 22 | Ball Corp | COM | $49.5M | 837K | 0.8% | TRIM |
| 23 | AMDAdvanced Micro Devices, Inc.★ | COM | $45.0M | 221K | 0.8% | TRIM |
| 24 | JD.COM Inc | SPON ADS CL A | $38.6M | 1.3M | 0.7% | TRIM |
| 25 | Lyft Inc | CL A COM | $35.9M | 2.7M | 0.6% | TRIM |
| 26 | MSFTMicrosoft Corporation★ | COM | $33.3M | 90K | 0.6% | TRIM |
| 27 | Kraneshares Trust | CSI CHI INTERNET | $30.7M | 1.1M | 0.5% | TRIM |
| 28 | Energy Transfer L P | COM UT LTD PTN | $30.4M | 1.6M | 0.5% | TRIM |
| 29 | Mplx Lp | COM UNIT REP LTD | $28.7M | 502K | 0.5% | TRIM |
| 30 | UNHUnitedHealth Group Incorporated★ | COM | $24.4M | 90K | 0.4% | TRIM |
| 31 | Deutsche Bk Ag | NAMEN AKT | $7.7M | 258K | 0.1% | TRIM |
Q4 2025 · 39 positions · $6.93B · filed 2026-02-17
| # | Company | Class | Value | Shares | % Port. | vs prior |
|---|---|---|---|---|---|---|
| 1 | Alibaba Group Hldg Ltd | SPONSORED ADS | $753.1M | 5.1M | 10.9% | TRIM |
| 2 | GOOGLAlphabet Inc.★ | CAP STK CL C | $560.7M | 1.8M | 8.1% | ADD |
| 3 | AMZNAmazon.com, Inc.★ | COM | $503.0M | 2.2M | 7.3% | TRIM |
| 4 | MUMicron Technology, Inc.★ | COM | $428.1M | 1.5M | 6.2% | ADD |
| 5 | METAMeta Platforms, Inc.★ | CL A | $396.1M | 600K | 5.7% | ADD |
| 6 | Taiwan Semiconductor Mfg Ltd | SPONSORED ADS | $343.4M | 1.1M | 5.0% | ADD |
| 7 | NVDANVIDIA Corporation★ | COM | $317.1M | 1.7M | 4.6% | TRIM |
| 8 | Whirlpool Corp | COM | $282.1M | 3.9M | 4.1% | TRIM |
| 9 | Nrg Energy Inc | COM NEW | $261.2M | 1.6M | 3.8% | TRIM |
| 10 | MSFTMicrosoft Corporation★ | COM | $241.8M | 500K | 3.5% | ADD |
| 11 | American Airls Group Inc | COM | $216.9M | 14.2M | 3.1% | ADD |
| 12 | Pdd Holdings Inc | SPONSORED ADS | $201.3M | 1.8M | 2.9% | TRIM |
| 13 | QCOMQUALCOMM Incorporated★ | COM | $195.9M | 1.1M | 2.8% | TRIM |
| 14 | Ishares Inc | MSCI STH KOR ETF | $182.3M | 1.9M | 2.6% | NEW |
| 15 | Kraneshares Trust | CSI CHI INTERNET | $161.7M | 4.8M | 2.3% | TRIM |
| 16 | Vistra Corp | COM | $152.5M | 945K | 2.2% | TRIM |
| 17 | UBERUber Technologies, Inc.★ | COM | $151.2M | 1.9M | 2.2% | TRIM |
| 18 | Corning Inc | COM | $137.5M | 1.6M | 2.0% | TRIM |
| 19 | Deutsche Bank A G | NAMEN AKT | $121.5M | 3.1M | 1.8% | TRIM |
| 20 | JD.COM Inc | SPON ADS CL A | $119.3M | 4.2M | 1.7% | TRIM |
| 21 | Owens Corning New | COM | $106.3M | 950K | 1.5% | ADD |
| 22 | Rtx Corporation | COM | $91.7M | 500K | 1.3% | TRIM |
| 23 | L3HARRIS Technologies Inc | COM | $86.6M | 295K | 1.3% | TRIM |
| 24 | Baidu Inc | SPON ADR REP A | $75.1M | 575K | 1.1% | TRIM |
| 25 | Mohawk Inds Inc | COM | $73.8M | 675K | 1.1% | ADD |
| 26 | Lyft Inc | CL A COM | $73.6M | 3.8M | 1.1% | TRIM |
| 27 | Lam Research Corp | COM NEW | $72.8M | 425K | 1.1% | ADD |
| 28 | MUMicron Technology, Inc.★ | Call | $71.4M | 250K | 1.0% | NEW |
| 29 | AMDAdvanced Micro Devices, Inc.★ | COM | $69.6M | 325K | 1.0% | TRIM |
| 30 | Asml Holding N V | N Y REGISTRY SHS | $66.9M | 62K | 1.0% | TRIM |
| 31 | UNHUnitedHealth Group Incorporated★ | COM | $66.0M | 200K | 1.0% | TRIM |
| 32 | Ball Corp | COM | $63.6M | 1.2M | 0.9% | NEW |
| 33 | Iqvia Hldgs Inc | COM | $63.1M | 280K | 0.9% | TRIM |
| 34 | United Airls Hldgs Inc | COM | $52.0M | 465K | 0.8% | ADD |
| 35 | Ishares Tr | CHINA LG-CAP ETF | $41.6M | 1.1M | 0.6% | TRIM |
| 36 | Energy Transfer L P | COM UT LTD PTN | $36.1M | 2.2M | 0.5% | TRIM |
| 37 | Mplx Lp | COM UNIT REP LTD | $33.5M | 628K | 0.5% | ADD |
| 38 | Delta Air Lines Inc Del | COM NEW | $33.0M | 475K | 0.5% | ADD |
| 39 | Goodyear Tire & Rubr Co | COM | $21.9M | 2.5M | 0.3% | TRIM |
Q3 2025 · 45 positions · $7.38B · filed 2025-11-13
| # | Company | Class | Value | Shares | % Port. | vs prior |
|---|---|---|---|---|---|---|
| 1 | Alibaba Group Hldg Ltd | SPONSORED ADS | $1.15B | 6.5M | 15.6% | |
| 2 | AMZNAmazon.com, Inc.★ | COM | $548.9M | 2.5M | 7.4% | |
| 3 | Whirlpool Corp | COM | $432.3M | 5.5M | 5.9% | |
| 4 | NVDANVIDIA Corporation★ | COM | $354.5M | 1.9M | 4.8% | |
| 5 | GOOGLAlphabet Inc.★ | CAP STK CL C | $337.9M | 1.4M | 4.6% | |
| 6 | Kraneshares Trust | CSI CHI INTERNET | $310.9M | 7.4M | 4.2% | |
| 7 | Nrg Energy Inc | COM NEW | $302.8M | 1.9M | 4.1% | |
| 8 | Taiwan Semiconductor Mfg Ltd | SPONSORED ADS | $296.0M | 1.1M | 4.0% | |
| 9 | METAMeta Platforms, Inc.★ | CL A | $271.7M | 370K | 3.7% | |
| 10 | Vistra Corp | COM | $243.9M | 1.2M | 3.3% | |
| 11 | MSFTMicrosoft Corporation★ | COM | $239.6M | 462K | 3.2% | |
| 12 | Pdd Holdings Inc | SPONSORED ADS | $237.9M | 1.8M | 3.2% | |
| 13 | UBERUber Technologies, Inc.★ | COM | $235.8M | 2.4M | 3.2% | |
| 14 | JD.COM Inc | SPON ADS CL A | $217.8M | 6.2M | 2.9% | |
| 15 | QCOMQUALCOMM Incorporated★ | COM | $207.1M | 1.2M | 2.8% | |
| 16 | AMDAdvanced Micro Devices, Inc.★ | COM | $153.7M | 950K | 2.1% | |
| 17 | Baidu Inc | SPON ADR REP A | $137.7M | 1.0M | 1.9% | |
| 18 | Deutsche Bank A G | NAMEN AKT | $134.2M | 3.8M | 1.8% | |
| 19 | Corning Inc | COM | $133.3M | 1.6M | 1.8% | |
| 20 | Lyft Inc | CL A COM | $123.3M | 5.6M | 1.7% | |
| 21 | Fiserv Inc | COM | $119.3M | 925K | 1.6% | |
| 22 | American Airls Group Inc | COM | $104.0M | 9.2M | 1.4% | |
| 23 | L3HARRIS Technologies Inc | COM | $91.6M | 300K | 1.2% | |
| 24 | Rtx Corporation | COM | $85.3M | 510K | 1.2% | |
| 25 | Energy Transfer L P | COM UT LTD PTN | $85.1M | 5.0M | 1.2% | |
| 26 | MUMicron Technology, Inc.★ | COM | $83.7M | 500K | 1.1% | |
| 27 | UNHUnitedHealth Group Incorporated★ | COM | $70.3M | 204K | 1.0% | |
| 28 | Truist Finl Corp | COM | $63.4M | 1.4M | 0.9% | |
| 29 | Asml Holding N V | N Y REGISTRY SHS | $62.0M | 64K | 0.8% | |
| 30 | Caesars Entertainment Inc Ne | COM | $56.8M | 2.1M | 0.8% | |
| 31 | Iqvia Hldgs Inc | COM | $54.1M | 285K | 0.7% | |
| 32 | Lam Research Corp | COM NEW | $49.5M | 370K | 0.7% | |
| 33 | Ishares Tr | CHINA LG-CAP ETF | $45.7M | 1.1M | 0.6% | |
| 34 | United Airls Hldgs Inc | COM | $44.6M | 462K | 0.6% | |
| 35 | Goodyear Tire & Rubr Co | COM | $38.4M | 5.1M | 0.5% | |
| 36 | Keycorp | COM | $37.8M | 2.0M | 0.5% | |
| 37 | Citizens Finl Group Inc | COM | $31.9M | 600K | 0.4% | |
| 38 | Comerica Inc | COM | $31.7M | 462K | 0.4% | |
| 39 | XYZBlock, Inc.★ | CL A | $26.7M | 370K | 0.4% | |
| 40 | Mplx Lp | COM UNIT REP LTD | $26.7M | 535K | 0.4% | |
| 41 | Delta Air Lines Inc Del | COM NEW | $26.2M | 462K | 0.4% | |
| 42 | Owens Corning New | COM | $22.8M | 162K | 0.3% | |
| 43 | Mohawk Inds Inc | COM | $20.8M | 162K | 0.3% | |
| 44 | Western Alliance Bancorp | COM | $16.9M | 195K | 0.2% | |
| 45 | Zions Bancorporation N A | COM | $16.1M | 285K | 0.2% |