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Investors / David Tepper
David Tepper
From 2009 distressed bonds to 2026 AI infrastructure — the macro hand reads cycles and trims into strength
13F
32 positions · Q1 2026AI holdings · 15 tickers
$4.05B| # | Ticker | Company | Layer | Value | Shares | % of AUM | Entry quarter |
|---|---|---|---|---|---|---|---|
| 1 | AMZN | $899.7M | 15.2% | ||||
This page covers Appaloosa LP's 13F-HR filings only — Tepper's US-equity book, currently $5.93B AUM across 31 holdings. The AI universe filter surfaces $3.79B (63.8% AUM) across 13 positions spanning chip (MU/TSM/NVDA/ASML/QCOM/AMD), infrastructure (AMZN), models (GOOG/META/MSFT), China AI (BABA/BIDU), and AI-data-center enabler GLW.
BABA, the China-AI anchor, peaked at $1.22B (9.23M shares) in 2025-Q1 and has been trimmed every quarter since — now $435M (3.47M shares), down 69% over four quarters. This is a long-term holder taking profit on strength, not an exit.
Tepper's pre-2019 Appaloosa Management LP (the hedge fund, which returned outside capital in 2019) is a separate SEC entity and is not included; this page reflects the family-office era (Appaloosa LP, CIK 0001656456) only.
13G/13D
0 active stakes · SEC ≥5% filingsNo active major stakes since latest 13F.
Per SEC rules, investors must disclose ≥5% positions within 5-10 days of crossing the threshold; this section reflects filings since the latest 13F.
Holdings Timeline
Include non-AI changes (17)
Q2 2023
Q3 2023
Q4 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
AMZN
ADD+1M
ADD+588K
ADD+200K
TRIM−122K
TRIM−353K
TRIM−275K
TRIM−600K
TRIM−90K
ADD+190K
TRIM−200K
TRIM−321K
ADD+2M
MU
ADD+825K
HOLD
TRIM−185K
HOLD
TRIM−40K
TRIM−125K
ADD+150K
TRIM−800K
ADD+425K
TRIM−325K
ADD+1M
ADD+165K
GOOG
ADD+200K
ADD+440K
TRIM−450K
TRIM−225K
TRIM−150K
TRIM−43K
TRIM−1
ADD+128K
TRIM−510K
TRIM−113K
ADD+399K
TRIM−54K
TSM
NEW+2M
TRIM−775K
TRIM−500K
HOLD
TRIM−40K
TRIM−60K
TRIM−150K
ADD+20K
ADD+755K
ADD+35K
ADD+70K
ADD+198K
BABA
ADD+4M
TRIM−875K
ADD+750K
ADD+7M
TRIM−750K
TRIM−500K
ADD+2M
TRIM−3M
TRIM−2M
TRIM−617K
TRIM−1M
TRIM−2M
AAPL↓ Put
—
—
—
—
—
—
—
NEW+1M
—
—
—
—
NVDA
ADD+870K
ADD+5K
TRIM−235K
TRIM−348K
ADD+248K
TRIM−65K
ADD+55K
TRIM−380K
ADD+1M
ADD+150K
TRIM−200K
TRIM−229K
META
ADD+803K
ADD+448K
TRIM−100K
TRIM−728K
TRIM−188K
TRIM−310K
TRIM−135K
ADD+60K
TRIM−150K
TRIM−30K
ADD+230K
TRIM−164K
SNDK
—
—
—
—
—
—
—
—
—
—
—
NEW+281K
GLW
—
—
—
—
—
—
NEW+2M
ADD+244K
ADD+6K
TRIM−125K
TRIM−55K
TRIM−441K
LRCX
—
—
—
—
—
—
—
—
—
—
—
NEW+383K
BIDU
NEW+1M
TRIM−610K
TRIM−40K
ADD+1M
TRIM−135K
TRIM−240K
ADD+103K
TRIM−753K
TRIM−150K
ADD+420K
TRIM−470K
ADD+117K
MU↑ Call
—
—
—
—
—
—
—
—
—
—
NEW+250K
—
ASML
NEW+80K
HOLD
HOLD
HOLD
ADD+8K
TRIM−10K
ADD+83K
TRIM−90K
HOLD
TRIM−6K
TRIM−2K
TRIM−13K
QCOM
NEW+2M
TRIM−550K
TRIM−300K
TRIM−10K
TRIM−150K
TRIM−40K
HOLD
TRIM−450K
HOLD
ADD+895K
TRIM−100K
TRIM−646K
MSFT↓ Put
—
—
—
NEW+150K
—
—
—
—
—
—
—
—
AMD
NEW+2M
TRIM−35K
TRIM−265K
TRIM−380K
TRIM−260K
TRIM−235K
ADD+65K
—
—
TRIM−250K
TRIM−625K
TRIM−104K
MSFT
ADD+980K
ADD+395K
ADD+65K
TRIM−300K
TRIM−219K
TRIM−211K
HOLD
TRIM−460K
TRIM−10K
TRIM−38K
ADD+38K
TRIM−410K
ORCL
—
—
NEW+1M
ADD+975K
TRIM−300K
TRIM−427K
TRIM−173K
TRIM−700K
TRIM−550K
DROP
—
—
INTC
NEW+7M
TRIM−525K
TRIM−2M
TRIM−850K
TRIM−970K
TRIM−280K
TRIM−2M
—
ADD+7M
DROP
—
—
AVGO
NEW+120K
—
—
—
—
—
—
ADD+10K
DROP
—
—
—
AAPL
NEW+480K
DROP
—
—
—
—
—
—
DROP
—
—
—
ADBE
—
—
—
NEW+350K
ADD+10K
TRIM−160K
DROP
—
—
—
—
—
ANET
NEW+250K
HOLD
DROP
—
—
—
—
—
—
—
—
—
SNPS
NEW+145K
DROP
—
—
—
—
—
—
—
—
—
—
CRM
DROP
—
—
—
—
—
—
—
—
—
—
—
TSLA
DROP
—
—
—
—
—
—
—
—
—
—
—
NEW
ADD
HOLD
TRIM (light → heavy)
Not held
Hover any cell for share + value delta| Period | Action | Ticker | Δ Shares | Δ Value |
|---|---|---|---|---|
| Q1 2026 | ADD | AMZN | +2,140,609 | +$396.7M |
| Q1 2026 | TRIM | BABA | -1,672,931 | $-318.4M |
| Q1 2026 | TRIM | MSFT | -410,000 | $-208.5M |
| Q1 2026 | NEW | SNDK | +281,250 | +$178.7M |
| Q1 2026 | TRIM | META | -163,500 | $-146.3M |
| Q1 2026 | ADD | MU | +165,000 | +$134.4M |
| Q1 2026 | TRIM | QCOM | -646,387 | $-131.6M |
| Q1 2026 | ADD | TSM | +197,500 | +$105.2M |
| Q1 2026 | NEW | LRCX | +382,500 | +$81.7M |
| Q1 2026 | TRIM | GOOG | -54,231 | $-63.7M |
| Q1 2026 | TRIM | NVDA | -228,500 | $-60.4M |
| Q1 2026 | TRIM | AMD | -103,600 | $-24.6M |
| Q1 2026 | TRIM | GLW | -440,700 | +$16.1M |
| Q1 2026 | ADD | BIDU | +117,100 | +$2M |
| Q1 2026 | TRIM | ASML | -13,000 | $-1.5M |
| Q4 2025 | TRIM | BABA | -1,312,069 | $-399.7M |
| Q4 2025 | ADD | MU | +1,000,000 | +$344.5M |
| Q4 2025 | ADD | GOOG | +399,431 | +$222.8M |
| Q4 2025 | ADD | META | +230,000 | +$124.3M |
| Q4 2025 | TRIM | AMD | -625,000 | $-84.1M |
| Q4 2025 | NEW | MU↑ Call | +250,000 | +$71.4M |
| Q4 2025 | TRIM | BIDU | -470,000 | $-62.6M |
| Q4 2025 | ADD | TSM | +70,000 | +$47.3M |
| Q4 2025 | TRIM | AMZN | -320,609 | $-45.9M |
| Q4 2025 | TRIM | NVDA | -200,000 | $-37.5M |
| Q4 2025 | TRIM | QCOM | -100,000 | $-11.3M |
| Q4 2025 | TRIM | ASML | -1,500 | +$4.9M |
| Q4 2025 | TRIM | GLW | -54,800 | +$4.2M |
| Q4 2025 | ADD | MSFT | +37,500 | +$2.3M |
| Q3 2025 | TRIM | BABA | -617,271 | +$351.3M |
| Q3 2025 | DROP | INTC | -8,000,000 | $-179.2M |
| Q3 2025 | ADD | QCOM | +895,000 | +$151.4M |
| Q3 2025 | ADD | BIDU | +420,000 | +$84.1M |
| Q3 2025 | ADD | NVDA | +150,000 | +$78M |
| Q3 2025 | TRIM | GOOG | -112,500 | +$71.8M |
| Q3 2025 | ADD | TSM | +35,000 | +$63.9M |
| Q3 2025 | TRIM | AMZN | -200,000 | $-43.4M |
| Q3 2025 | TRIM | GLW | -125,000 | +$41.3M |
| Q3 2025 | DROP | ORCL | -150,000 | $-32.8M |
| Q3 2025 | TRIM | META | -30,000 | $-23.5M |
| Q3 2025 | TRIM | MU | -325,000 | $-18M |
| Q3 2025 | TRIM | MSFT | -37,500 | $-9.2M |
| Q3 2025 | TRIM | AMD | -250,000 | +$8.8M |
| Q3 2025 | TRIM | ASML | -6,000 | +$5.9M |
| Q2 2025 | TRIM | BABA | -2,162,729 | $-419M |
| Q2 2025 | ADD | NVDA | +1,450,000 | +$244M |
| Q2 2025 | ADD | TSM | +755,000 | +$187.3M |
| Q2 2025 | ADD | INTC | +7,000,000 | +$159.2M |
| Q2 2025 | ADD | AMZN | +190,000 | +$114.8M |
| Q2 2025 | ADD | MU | +425,000 | +$66.9M |
| Q2 2025 | TRIM | ORCL | -550,000 | $-65.1M |
| Q2 2025 | TRIM | MSFT | -10,000 | +$57.3M |
| Q2 2025 | TRIM | GOOG | -510,000 | $-47.9M |
| Q2 2025 | DROP | AVGO | -130,000 | $-21.8M |
| Q2 2025 | TRIM | META | -150,000 | $-21.8M |
| Q2 2025 | TRIM | BIDU | -150,000 | $-17.7M |
| Q2 2025 | ADD | GLW | +6,371 | +$12.2M |
| Q2 2025 | DROP | AAPL | 0 | $0 |
| Q1 2025 | NEW | AAPL↓ Put | +1,250,000 | +$277.7M |
| Q1 2025 | TRIM | MSFT | -460,000 | $-217.4M |
| Q1 2025 | TRIM | BABA | -2,613,158 | +$216.3M |
| Q1 2025 | TRIM | ORCL | -700,000 | $-135.4M |
| Q1 2025 | TRIM | AMZN | -90,000 | $-92.9M |
| Q1 2025 | ADD | AVGO | +10,000 | $-82.3M |
| Q1 2025 | TRIM | QCOM | -450,000 | $-69.1M |
| Q1 2025 | TRIM | MU | -800,000 | $-66.2M |
| Q1 2025 | TRIM | ASML | -90,000 | $-64.5M |
| Q1 2025 | TRIM | NVDA | -380,001 | $-58.8M |
| Q1 2025 | TRIM | BIDU | -752,909 | $-57.5M |
| Q1 2025 | ADD | GOOG | +128,037 | $-44.4M |
| Q1 2025 | ADD | META | +60,000 | +$30.1M |
| Q1 2025 | ADD | GLW | +243,629 | +$8.5M |
| Q1 2025 | ADD | TSM | +20,000 | $-4.6M |
| Q4 2024 | DROP | ADBE | -200,000 | $-103.6M |
| Q4 2024 | NEW | GLW | +1,500,000 | +$71.3M |
| Q4 2024 | TRIM | META | -135,000 | $-70.9M |
| Q4 2024 | ADD | BABA | +1,843,158 | $-57M |
| Q4 2024 | ADD | ASML | +82,500 | +$46.3M |
| Q4 2024 | TRIM | GOOG | -1 | +$43.8M |
| Q4 2024 | ADD | AMD | +65,000 | $-41.3M |
| Q4 2024 | TRIM | INTC | -1,500,000 | $-38.6M |
| Q4 2024 | TRIM | ORCL | -173,394 | $-34.8M |
| Q4 2024 | TRIM | AMZN | -600,000 | $-25.8M |
| Q4 2024 | ADD | BIDU | +102,909 | $-21.2M |
| Q4 2024 | TRIM | TSM | -150,000 | $-20.1M |
| Q4 2024 | ADD | NVDA | +55,001 | +$15.4M |
| Q4 2024 | ADD | MU | +150,000 | $-7.9M |
| Q3 2024 | TRIM | BABA | -500,000 | +$305.2M |
| Q3 2024 | TRIM | META | -310,000 | $-113.7M |
| Q3 2024 | TRIM | MSFT | -211,356 | $-110.6M |
| Q3 2024 | TRIM | ADBE | -160,000 | $-96.4M |
| Q3 2024 | TRIM | AMZN | -275,000 | $-75.3M |
| Q3 2024 | TRIM | MU | -125,000 | $-45.7M |
| Q3 2024 | TRIM | GOOG | -43,036 | $-38.4M |
| Q3 2024 | TRIM | AMD | -235,000 | $-36M |
| Q3 2024 | TRIM | QCOM | -40,000 | $-31.3M |
| Q3 2024 | TRIM | INTC | -280,000 | $-27.4M |
| Q3 2024 | TRIM | ASML | -10,000 | $-24.9M |
| Q3 2024 | TRIM | ORCL | -426,606 | $-14.3M |
| Q3 2024 | TRIM | TSM | -60,000 | $-10.5M |
| Q3 2024 | TRIM | NVDA | -65,000 | $-9.3M |
| Q3 2024 | TRIM | BIDU | -240,000 | +$6M |
| Q2 2024 | ADD | NVDA | +248,000 | $-314.1M |
| Q2 2024 | TRIM | INTC | -970,000 | $-79.5M |
| Q2 2024 | TRIM | META | -187,500 | $-73.6M |
| Q2 2024 | TRIM | AMD | -260,000 | $-72M |
| Q2 2024 | TRIM | MSFT | -218,644 | $-61M |
| Q2 2024 | TRIM | BABA | -750,000 | $-58M |
| Q2 2024 | TRIM | BIDU | -135,000 | $-45.5M |
| Q2 2024 | TRIM | GOOG | -150,000 | +$37.1M |
| Q2 2024 | ADD | ADBE | +10,000 | +$23.4M |
| Q2 2024 | TRIM | AMZN | -353,000 | $-19M |
| Q2 2024 | TRIM | TSM | -40,000 | +$11.9M |
| Q2 2024 | ADD | ASML | +7,500 | +$11.9M |
| Q2 2024 | TRIM | MU | -40,000 | +$11.3M |
| Q2 2024 | TRIM | ORCL | -300,000 | $-6.5M |
| Q2 2024 | TRIM | QCOM | -150,000 | $-296K |
| Q1 2024 | ADD | BABA | +6,900,000 | +$476.9M |
| Q1 2024 | NEW | ADBE | +350,000 | +$176.6M |
| Q1 2024 | ADD | ORCL | +975,000 | +$149.2M |
| Q1 2024 | ADD | BIDU | +1,175,000 | +$115.1M |
| Q1 2024 | TRIM | META | -727,500 | $-109.8M |
| Q1 2024 | TRIM | AMZN | -122,000 | +$90.3M |
| Q1 2024 | TRIM | INTC | -850,000 | $-65.5M |
| Q1 2024 | NEW | MSFT↓ Put | +150,000 | +$63.1M |
| Q1 2024 | TRIM | MSFT | -300,000 | $-50.3M |
| Q1 2024 | TRIM | QCOM | -10,000 | +$23M |
| Q1 2024 | TRIM | GOOG | -225,000 | $-8.2M |
| Q1 2024 | TRIM | NVDA | -348,000 | +$8.1M |
| Q1 2024 | TRIM | AMD | -380,000 | $-2.1M |
| Q4 2023 | NEW | ORCL | +1,325,000 | +$139.7M |
| Q4 2023 | ADD | AMZN | +200,000 | +$123.5M |
| Q4 2023 | ADD | MSFT | +65,000 | +$123M |
| Q4 2023 | TRIM | META | -100,000 | +$69.4M |
| Q4 2023 | TRIM | AMD | -265,000 | +$62.4M |
| Q4 2023 | TRIM | NVDA | -235,000 | $-54.6M |
| Q4 2023 | DROP | ANET | -250,000 | $-46M |
| Q4 2023 | TRIM | GOOG | -450,000 | $-38.4M |
| Q4 2023 | TRIM | TSM | -500,000 | $-34.9M |
| Q4 2023 | ADD | BABA | +750,000 | +$24.9M |
| Q4 2023 | TRIM | BIDU | -40,000 | $-14.9M |
| Q4 2023 | TRIM | INTC | -1,650,000 | +$9M |
| Q4 2023 | TRIM | MU | -185,000 | +$8.4M |
| Q4 2023 | TRIM | QCOM | -300,000 | +$252K |
| Q3 2023 | ADD | META | +447,500 | +$154.2M |
| Q3 2023 | ADD | MSFT | +395,000 | +$94M |
| Q3 2023 | DROP | AAPL | -480,000 | $-93.1M |
| Q3 2023 | TRIM | TSM | -775,000 | $-92.2M |
| Q3 2023 | TRIM | BIDU | -610,000 | $-85.2M |
| Q3 2023 | ADD | GOOG | +440,000 | +$83.1M |
| Q3 2023 | TRIM | QCOM | -550,000 | $-75.8M |
| Q3 2023 | ADD | AMZN | +587,500 | +$64.4M |
| Q3 2023 | DROP | SNPS | -145,000 | $-63.1M |
| Q3 2023 | TRIM | BABA | -875,000 | $-60.7M |
| Q3 2023 | TRIM | AMD | -35,000 | $-29.2M |
| Q3 2023 | ADD | NVDA | +5,000 | +$14.4M |
| Q3 2023 | TRIM | INTC | -525,000 | $-4.4M |
| Q2 2023 | ADD | NVDA | +870,000 | +$389.8M |
| Q2 2023 | ADD | BABA | +4,375,000 | +$362.8M |
| Q2 2023 | ADD | MSFT | +980,000 | +$347.3M |
| Q2 2023 | ADD | META | +802,500 | +$282.8M |
| Q2 2023 | NEW | AMD | +2,310,000 | +$263.1M |
| Q2 2023 | NEW | INTC | +6,775,000 | +$226.6M |
| Q2 2023 | NEW | QCOM | +1,850,000 | +$220.2M |
| Q2 2023 | ADD | AMZN | +1,162,500 | +$205.7M |
| Q2 2023 | NEW | TSM | +1,775,000 | +$179.1M |
| Q2 2023 | NEW | BIDU | +1,275,000 | +$174.6M |
| Q2 2023 | NEW | AVGO | +120,000 | +$104.1M |
| Q2 2023 | NEW | AAPL | +480,000 | +$93.1M |
| Q2 2023 | NEW | SNPS | +145,000 | +$63.1M |
| Q2 2023 | ADD | GOOG | +200,000 | +$60M |
| Q2 2023 | NEW | ASML | +80,000 | +$58M |
| Q2 2023 | DROP | CRM | -290,000 | $-57.9M |
| Q2 2023 | ADD | MU | +825,000 | +$56.6M |
| Q2 2023 | NEW | ANET | +250,000 | +$40.5M |
| Q2 2023 | DROP | TSLA | -150,000 | $-31.1M |
| Q1 2023 | ADD | AMZN | +500,000 | +$80.6M |
| Q1 2023 | ADD | META | +125,000 | +$79.2M |
| Q1 2023 | ADD | GOOG | +115,000 | +$42.4M |
| Q1 2023 | NEW | NVDA | +150,000 | +$41.7M |
| Q1 2023 | NEW | TSLA | +150,000 | +$31.1M |
| Q1 2023 | ADD | MSFT | +25,000 | +$18.6M |
| Q1 2023 | TRIM | CRM | -10,000 | +$18.2M |
| Q4 2022 | TRIM | META | -300,000 | $-49.5M |
| Q4 2022 | ADD | AMZN | +50,000 | $-37.9M |
| Q4 2022 | ADD | CRM | +110,000 | +$12.4M |
| Q4 2022 | ADD | BABA | +10,000 | +$1.6M |
| Q3 2022 | TRIM | META | -125,000 | $-42.5M |
| Q3 2022 | ADD | GOOG | +1,895,000 | $-26.9M |
| Q3 2022 | TRIM | MSFT | -15,000 | $-9.5M |
| Q3 2022 | TRIM | CRM | -10,000 | $-5.7M |
| Q3 2022 | TRIM | AMZN | -50,000 | +$4.5M |
| Q3 2022 | TRIM | BABA | -10,000 | $-4.2M |