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David Tepper's Appaloosa reshuffled its Q2 2026 US book ($7.7B, 27 names, top-5 55.8%, top holding AMZN at 15.4%): 8 new positions include SpaceX (SPCX via SPV), CoreWeave, Broadcom, Apple, Boeing, Berkshire B, American Airlines and Goodyear. Existing positions built up: Amazon (+15.7%), TSM (+24.3%), Meta (+54.6%), Uber (+21.5%), GOOG (+6.8%), NVDA (+3.6%), Baidu (+87.1%) and NRG (+1.5%). Trims: Micron -41.4%, Alibaba -42.3%, Qualcomm -49.9%, AMD -10.8%, Whirlpool -63.3%. 13 exits — most consequential Microsoft, PDD, JD.com, KWEB (all three main China internet longs), UnitedHealth, SanDisk, RTX and L3Harris (~$1.0B released).
| Ticker | Company | Value | Shares | % of book | |
|---|---|---|---|---|---|
| AAPL | Apple | $241.6M | 835K shares | 3.1% | |
| BA | Boeing | $173.2M | 800K shares | 2.2% | |
| AAL | American Airlines | $135.5M | 7.5M shares | 1.8% | |
| CRWV | CoreWeave | $107.3M | 1.1M shares | 1.4% | |
| AVGO | Broadcom | $56.7M | 150K shares | 0.7% | |
| SPCX | SpaceX (private, via SPV) |
| $38.4M |
| 225K shares |
| 0.5% |
| BRK/B | Berkshire Hathaway B | $12.5M | 25K shares | 0.2% |
| GT | Goodyear Tire | $10M | 1.5M shares | 0.1% |
| Ticker | Name | Note |
|---|---|---|
| NRA | NRA Group | |
| SNDK | SanDisk | |
| GLW | Corning | |
| PDD | PDD Holdings | exited PDD after Q1 build-up; BIDU +87% is the sole China call now |
| LHX | L3Harris | |
| RTX | RTX Corp | |
| BALL | Ball Corp | |
| JD | JD.com | exited JD.com |
| LYFT | Lyft | |
| MSFT | Microsoft | exited Microsoft; SPCX + CRWV + AVGO now anchor the AI-compute exposure |
| KWEB | KraneShares CSI China Internet | exited China internet ETF |
| UNH | UnitedHealth | exited UnitedHealth |
| DB | Deutsche Bank |
| Ticker | Q2 value | Change | Direction |
|---|---|---|---|
| AMZN | $1.2B | +15.7% | ADD |
| MU | $1.1B | -41.4% | TRIM |
| TSM | $788M | +24.3% | ADD |
| GOOG | $653.7M | +6.8% | ADD |
| UBER | $555.2M | +21.5% | ADD |
| EWY | $489.6M | +1% | ADD |
| META | $380.2M | +54.6% | ADD |
| VST | $351.4M | +9.5% | ADD |
| NVDA | $305.1M | +3.6% | ADD |
| NRG | $257.1M | +1.5% | ADD |
| BABA | $192M | -42.3% | TRIM |
| BIDU | $148M | +87.1% | ADD |
| AMD | $114.7M | -10.8% | TRIM |
| ASML | $99.5M | +1% | ADD |
| QCOM | $46.2M | -49.9% | TRIM |
| WHR | $28.2M | -63.3% | TRIM |
Two big rotations: (1) rebuild the US AI compute stack with SpaceX + CoreWeave + AVGO added and MSFT exited — Tepper now expresses AI via private/independent compute plus GOOG/META/AMZN application layer, not via the OS incumbent; (2) collapse the China book from PDD/JD/KWEB into a single BIDU +87% conviction call. Micron and Alibaba trims are the two headline reductions.
Figures are computed from the latest 13F-HR filing (period 2026-06-30); the filing is authoritative.