← All investors Scored on The HoldLens Standard →

Investor profile

David Tepper

Appaloosa Management · Founder · Net worth: ~$21B

Founded Appaloosa in 1993 after Goldman Sachs. Generated ~30% annualized net for decades via distressed debt and macro-driven equity bets. Famously called the 2009 bottom and loaded up on banks.

"Distressed + macro. Go big when the setup is right."

Data verified 2026-08-14 · sourced from SEC EDGAR

Informational only — not investment advice. HoldLens tracks institutional positioning from public 13F filings. We are not a registered investment advisor and do not provide recommendations to buy or sell securities. Our 2026 backtest over 221 ticker-quarter pairs found the ConvictionScore has no predictive signal for forward returns (Pearson r = −0.12). The rankings describe what tracked superinvestors were accumulating or selling at the latest 13F snapshot — useful as market intelligence, not as personal investment advice. 13F data is reported with a 45-day SEC filing lag.

See the backtest →

Today — 2026-04-21

All movers →

Portfolio day:+3.30%

Biggest winner:MSFT +8.30%

Biggest loser:GOOGL +1.19%

Positions: Q1 2026 13F · Prices: EOD 2026-04-21

Latest 13F: Q2 2026(48d ago)Next due: Q3 2026by 2026-11-14● RSS — move alerts

Tracked positions

Top concentration

79%

Longest holding

Alphabet (since 2016)

David's portfolio concentration: top-1, top-5, top-10

Balanced

Top 1 · AMZN

15.4%

Top 5 combined

55.9%

Top 10 combined

78.8%

Tracked positions

AMZNTop-5 zoneTop-10

David's single largest bet is AMZN at 15.4% of tracked positions. Exposure is spread across a broader basket, reducing single-name risk.

Realized 10-year track record

Appaloosa Management (private; press estimates)

See leaderboard →

10y CAGR

16.2%

net of fees

Alpha vs S&P

+3.1%

vs 13.1% benchmark

Win rate

70%

years beating S&P

Quality score

7.6

computed 0–10

Best year

+35%

Worst year

-7%

Cumulative 10y

4.5×

Volatility

13%

David Tepper's recent 13F moves: buys, adds, trims, and exits

Manager quality score: 7.6/10

Every tracked 13F move — buys, adds, trims, and exits — over the last two quarters.

Q2 2026

15 buys · 17 sells

Ticker	Activity	Share change	% portfolio
AAPL	Buy (new)	+835K	3.10%
BA	Buy (new)	+800K	2.20%
AAL	Buy (new)	+7.50M	1.80%
CRWV	Buy (new)	+1.08M	1.40%
AVGO	Buy (new)	+150K	0.70%
SPCX	Buy (new)	+225K	0.50%
BRK.B	Buy (new)	+25K	0.20%
GT	Buy (new)	+1.51M	0.10%
SNDK	Sell (exit)	-281K	0.00%
GLW	Sell (exit)	-1.13M	0.00%
PDD	Sell (exit)	-900K	0.00%
LHX	Sell (exit)	-198K	0.00%
RTX	Sell (exit)	-342K	0.00%
BALL	Sell (exit)	-837K	0.00%
JD	Sell (exit)	-1.30M	0.00%
LYFT	Sell (exit)	-2.70M	0.00%
MSFT	Sell (exit)	-90K	0.00%
KWEB	Sell (exit)	-1.08M	0.00%
UNH	Sell (exit)	-90K	0.00%
DB	Sell (exit)	-258K	0.00%

Showing top 20 by position change · 12 smaller moves hidden

Q1 2026

8 buys · 29 sells

Ticker	Activity	Share change	% portfolio
UBER	Add 242%	+4.48M	7.70%
VST	Add 114%	+1.08M	5.10%
SNDK	Buy (new)	+281K	3.00%
AMZN	Add 98%	+2.14M	15.20%
AAL	Sell (exit)	-14.15M	0.00%
OC	Sell (exit)	-950K	0.00%
MHK	Sell (exit)	-675K	0.00%
IQV	Sell (exit)	-280K	0.00%
UAL	Sell (exit)	-465K	0.00%
FXI	Sell (exit)	-1.09M	0.00%
DAL	Sell (exit)	-475K	0.00%
GT	Sell (exit)	-2.50M	0.00%
DB	Reduce 92%	-2.89M	0.10%
MSFT	Reduce 82%	-410K	0.60%
KWEB	Reduce 77%	-3.67M	0.50%
JD	Reduce 69%	-2.85M	0.70%
QCOM	Reduce 56%	-646K	1.10%
UNH	Reduce 55%	-110K	0.40%
WHR	Reduce 50%	-1.96M	1.80%
PDD	Reduce 49%	-875K	1.50%

Showing top 20 by position change · 17 smaller moves hidden

Q4 2025

14 buys · 23 sells

Ticker	Activity	Share change	% portfolio
OC	Add 488%	+789K	1.50%
MHK	Add 318%	+514K	1.10%
MU	Add 250%	+1.25M	7.20%
EWY	Buy (new)	+1.88M	2.60%
BALL	Buy (new)	+1.20M	0.90%
AAL	Add 53%	+4.90M	3.10%
FISV	Sell (exit)	-925K	0.00%
TFC	Sell (exit)	-1.39M	0.00%
CZR	Sell (exit)	-2.10M	0.00%
KEY	Sell (exit)	-2.02M	0.00%
XYZ	Sell (exit)	-370K	0.00%
CFG	Sell (exit)	-600K	0.00%
CMA	Sell (exit)	-463K	0.00%
WAL	Sell (exit)	-195K	0.00%
ZION	Sell (exit)	-285K	0.00%
AMD	Reduce 66%	-625K	1.00%
ET	Reduce 56%	-2.77M	0.50%
GT	Reduce 51%	-2.64M	0.30%
BIDU	Reduce 45%	-470K	1.10%
KWEB	Reduce 36%	-2.65M	2.30%

Showing top 20 by position change · 17 smaller moves hidden

Q3 2025

20 buys · 23 sells

Ticker	Activity	Share change	% portfolio
WHR	Add 1967%	+5.23M	5.90%
GT	Add 496%	+4.28M	0.50%
QCOM	Add 256%	+895K	2.80%
MHK	Add 148%	+97K	0.30%
AMD	Buy (new)	+950K	2.10%
FISV	Buy (new)	+925K	1.60%
AAL	Buy (new)	+9.25M	1.40%
TFC	Buy (new)	+1.39M	0.90%
KEY	Buy (new)	+2.02M	0.50%
CFG	Buy (new)	+600K	0.40%
CMA	Buy (new)	+463K	0.40%
OC	Buy (new)	+162K	0.30%
WAL	Buy (new)	+195K	0.20%
ZION	Buy (new)	+285K	0.20%
KWEB	Add 85%	+3.40M	4.20%
BIDU	Add 67%	+420K	1.90%
INTC	Sell (exit)	-8.00M	0.00%
ORCL	Sell (exit)	-150K	0.00%
BEKE	Sell (exit)	-1.50M	0.00%
UNH	Reduce 92%	-2.25M	1.00%

Showing top 20 by position change · 23 smaller moves hidden

David's sector breakdown

How the top 10 positions are diversified across 4 sectors. Weighted by stated portfolio percentage.

Technology

6 positions · AMZN, MU, TSM, GOOG, META, NVDA

73.0%

57.5% of AUM

Other

2 positions · EWY, NRG

12.2%

9.6% of AUM

Industrials

1 position · UBER

9.1%

7.2% of AUM

Utilities

1 position · VST

5.7%

4.5% of AUM

Position intelligence · 13F-derived

How Tepper is sized + moving

Every position classified by both portfolio weight (size bucket) and recent move activity (trend bucket). A 22% Apple position building +5% this quarter signals different intent than a 1% starter trimmed in half. Descriptive analysis of 13F filings — not recommendation.

Core

≥10% positions

Significant

3–10%

Starter

1–3%

Small

<1%

Building

Steady

Trimming

New

Exit pending

Position	% portfolio	Size	Trend
AMZN AMAZON COM INC	15.4%	core	↑ building
MU MICRON TECHNOLOGY INC	14.6%	core	↑ building
TSM TAIWAN SEMICONDUCTOR MANUFAC	10.2%	core	↑ building
GOOG ALPHABET INC	8.5%	significant	↑ building
UBER UBER TECHNOLOGIES INC	7.2%	significant	↑ building
EWY ISHARES INC	6.3%	significant	↑ building
META META PLATFORMS INC	4.9%	significant	↑ building
VST VISTRA CORP	4.5%	significant	↑ building
NVDA NVIDIA CORPORATION	3.9%	significant	↑ building
NRG NRG ENERGY INC	3.3%	significant	↓ trimming
AAPL APPLE INC	3.1%	significant	★ new
BABA ALIBABA GROUP HLDG LTD	2.5%	starter	↓ trimming
BA BOEING CO	2.2%	starter	★ new
LRCX LAM RESEARCH CORP	2.1%	starter	→ steady
BIDU BAIDU INC	1.9%	starter	↑ building
Showing top 15 of 27 positions.

How to read: Size bucket from current 13F-filed portfolio weight. Trend bucket from the last 2 quarters of move activity (net delta >5% in either direction = building/trimming; new = first-appearance this quarter; exit pending = trimmed >50% last quarter). Data lag: SEC 13F filings are reported 45 days after quarter-end. This is descriptive intelligence — not investment advice.

Score explainability · 9-factor breakdown

What drives the ConvictionScore on Tepper's top positions

The HoldLens ConvictionScore combines 9 factors. This table shows the per-position breakdown — exactly which factors contribute and by how much for each of Tepper's top 8 holdings. Hover any header for factor definition. Empty cells (·) = neutral (no contribution).

Ticker	% port	Score	Smart $	Insider	Track	Streak	Conc	Contra	Event	Dissent	Crowd
AMZN	15.4	−6	+25	·	-3	+5	+9	·	·	+41	·
MU	14.6	+22	+13	-2	+3	+5	+10	·	·	+6	·
TSM	10.2	−2	+18	·	+1	+10	+5	·	·	+36	·
GOOG	8.5	+2	+15	·	-4	+5	+6	+6	·	+26	·
UBER	7.2	+15	+17	-3	·	+5	+9	·	·	+14	·
EWY	6.3	+13	+6	·	+5	·	+3	·	·	·	·
META	4.9	−2	+30	-7	-3	+10	+7	·	·	+33	+6
VST	4.5	+1	+12	·	-7	+10	+6	·	·	+20	·

Factor definitions →

Smart $: Manager quality × consensus (0–30)
Insider: Form 4 net buy/sell (-15..+20)
Track: Buyer 10y CAGR × concentration (-10..+20)
Streak: Multi-quarter compounding (0–10)
Conc: Biggest position size as conviction (0–10)
Contra: Under-the-radar bonus (0–10)
Event: 8-K events last 90d (-15..+5)
Dissent: Sells subtract, weighted ×1.6 (0–60)
Crowd: Too many owners = priced in (0–10)

Factors are summed (positive add, penalties subtract), then clamped to the -100/+100 range. Each factor has a maximum contribution shown in parentheses next to its name. Read positive cells as bullish contributions, negative as bearish. See /learn/conviction-score-explained for the full methodology. ConvictionScore is descriptive synthesis of public filings — not investment advice.

Cross-portfolio overlap

Who else holds what Tepper holds

Top 6 highest-conviction overlap pairs containing David Tepper. Each page is the full intersection of two 13F-filed portfolios.

See all 435 overlap pairs →

David Tepper's top 10 disclosed holdings (Q2 2026)

Ticker	Company	% Portfolio	Shares (M)
AMZN	AMAZON COM INC Cloud + retail dual engine.	15.4%	5
MU	MICRON TECHNOLOGY INC	14.6%	0.98
TSM	TAIWAN SEMICONDUCTOR MANUFAC	10.2%	1.65
GOOG	ALPHABET INC	8.5%	1.85
UBER	UBER TECHNOLOGIES INC Autonomous vehicle optionality.	7.2%	7.69
EWY	ISHARES INC	6.3%	2.42
META	META PLATFORMS INC Quality compounder at reasonable multiple.	4.9%	0.68
VST	VISTRA CORP	4.5%	2.22
NVDA	NVIDIA CORPORATION Top position — AI infrastructure.	3.9%	1.53
NRG	NRG ENERGY INC	3.3%	1.76

Deep dive

The books behind David's thinking

Distressed + macro. Go big when the setup is right. These are the books that map David's approach.

Amazon affiliate links — as an Amazon Associate, HoldLens earns from qualifying purchases and membership trials at no extra cost to you. These are books we genuinely recommend. Not investment advice; always do your own research.

Benjamin Graham

The Intelligent Investor

The foundational text. Buffett calls it 'by far the best book about investing ever written.'

See price on Amazon

Benjamin Graham & David Dodd

Security Analysis

The deep dive behind The Intelligent Investor — how to actually read a filing and value a business.

See price on Amazon

Charles T. Munger

Poor Charlie's Almanack

The latticework of mental models Munger used to sanity-check every bet Berkshire ever made.

See price on Amazon

Howard Marks

The Most Important Thing

Oaktree's Marks on risk, cycles, and second-level thinking — the framework behind reading any 13F.

See price on Amazon

Peter Lynch

One Up On Wall Street

The clearest writing about spotting great businesses early. Lynch compounded ~29% a year for 13 years.

See price on Amazon

Prefer to listen? Start a free Audible trial

New Audible members only · 30-day trial · many of these titles are included with membership.

See the full investing reading list

More by topic:Foundations Mental models & temperament In their own words

Remove with Pro →

Dividend tax by country

Estimate your withholding on cross-border dividends

Your country of residenceCompany is domiciled inGross dividend (example)

Withholding rate

Domestic (no cross-border)

Tax withheld

$0.00

You'd receive

$1000.00

Of $1000 gross

Source & treaty reference

Treaty: Domestic — no cross-border withholding

Citation: IRC §§ 1441–1446 (withholding applies to foreign persons; US residents not subject to WHT on US-source dividends)

U.S. residents receiving U.S.-source dividends: no cross-border withholding; taxed on return at qualified (0/15/20%) or ordinary rates.

Estimates for educational purposes only. Tax rules change; consult a qualified tax professional for your specific situation. Dividend-tax treatment depends on holding period, account type (taxable vs. retirement), investor type (individual vs. pension vs. mutual fund), limitation-on-benefits tests, and other factors not modeled here.

Full dividend-tax rules for United States investors →

Want David move-alerts?

One email per 13F filing. Summarizes every new position, exit, and trim.

Investors with portfolios similar to David Tepper

Tracked managers whose top positions overlap with David's portfolio.

Stephen Mandel

Lone Pine Capital

4 shared positions: META, MSFT, AMZN, NVDA

Lee Ainslie

Maverick Capital

4 shared positions: META, MSFT, GOOGL, NVDA

Chase Coleman

Tiger Global Management

4 shared positions: META, MSFT, GOOGL, NVDA

See all 29 investors ranked by portfolio similarity →

ETF replication

Which ETF replicates David's portfolio?

Closest match: XLK · overlap score 217.2 across 2 shared top-10 names. Full ranked list of 5 ETFs →

Investing style

David is a macro investor

See 1 other macro manager tracked. Multi-asset book; size flexes with conviction; willing to short.

Embed on your site

Drop David's portfolio into your blog or wiki

→

600px-wide iframe. Top-3 holdings + closest replicating ETF + investing-style tag. Updates when the underlying 13F filing updates. Free, attribution-only.

<iframe src="https://holdlens.com/embed/investor/david-tepper/" width="600" height="360" frameborder="0" loading="lazy" title="David Tepper portfolio — HoldLens"></iframe>

Preview embed →See all embed widgets JSON API →

Per-quarter digests

What David Tepper did, quarter by quarter

Full move-by-move breakdown for each of the last 8 filed quarters.

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024

Latest quarterly analysis

David Tepper's Q1 2026 13F moves

Amazon to #1, China unwind, memory + semis adds.

Read the full breakdown →

Frequently asked questions

Who is David Tepper?

David Tepper runs Appaloosa Management as founder. Founded Appaloosa in 1993 after Goldman Sachs. Generated ~30% annualized net for decades via distressed debt and macro-driven equity bets. Famously called the 2009 bottom and loaded up on banks.

What fund does David Tepper run?

David Tepper is founder of Appaloosa Management. Appaloosa Management files SEC Form 13F-HR quarterly with the latest disclosure dated 2026-08-14 (Q2 2026). Full holdings, share counts, dollar values, and quarter-over-quarter changes are listed below.

What does David Tepper invest in?

David Tepper's Appaloosa Management portfolio is disclosed quarterly via SEC Form 13F-HR. Each position below shows the ticker, share count, dollar value, percentage of portfolio, and quarter-over-quarter change. Data is sourced directly from SEC filings (public-domain regulatory disclosure).

What is David Tepper's investment philosophy?

David Tepper's stated investment philosophy: "Distressed + macro. Go big when the setup is right.". David Tepper has been founder of Appaloosa Management; estimated net worth ~$21B.

What is David Tepper's net worth?

David Tepper's estimated net worth is ~$21B. David Tepper runs Appaloosa Management as founder; full 13F holdings disclosed quarterly with the SEC are listed below.

Data sourced from Appaloosa Management 13F filings with the SEC. Approximate snapshot. Not investment advice.

Sister property: SecFilingDex — the encyclopedic reference for Form 13F (HR / NT / HR/A variants) and the regulatory citation behind every position shown above.