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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 2026-05-15 · 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.

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Latest 13F: Q1 2026(7d ago)Next due: Q2 2026by 2026-08-14● RSS — move alerts

Tracked positions

Top concentration

74%

Longest holding

Alphabet (since 2016)

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

Balanced

Top 1 · AMZN

15.2%

Top 5 combined

48.4%

Top 10 combined

73.6%

Tracked positions

AMZNTop-5 zoneTop-10

David's single largest bet is AMZN at 15.2% 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.

Q1 2026

6 buys · 17 sells

Ticker	Activity	Share change	% portfolio
UBER	Add 242%	+4.48M	7.70%
VST	Add 114%	+1.08M	5.10%
AMZN	Add 98%	+2.14M	15.20%
BAIDU	Add 20%	+117K	1.30%
TSM	Add 17%	+198K	7.60%
IQV	Sell (exit)	-280K	0.00%
IVV	Sell (exit)	-1.09M	0.00%
DAL	Sell (exit)	-475K	0.00%
MSFT	Reduce 82%	-410K	0.60%
JD	Reduce 69%	-2.85M	0.70%
QCOM	Reduce 56%	-646K	1.10%
UNH	Reduce 55%	-110K	0.40%
PDD	Reduce 49%	-875K	1.50%
BABA	Reduce 33%	-1.67M	7.30%
AMD	Reduce 32%	-104K	0.80%
BALL	Reduce 30%	-363K	0.80%
LYFT	Reduce 29%	-1.10M	0.60%
META	Reduce 27%	-164K	4.20%
ASML	Reduce 21%	-13K	1.10%
MPLX	Reduce 20%	-125K	0.50%

Showing top 20 by position change · 3 smaller moves hidden

Q4 2025

10 buys · 11 sells

Ticker	Activity	Share change	% portfolio
MU	Add 250%	+1.25M	7.20%
BALL	Buy (new)	+1.20M	0.90%
BABA	Add 30% Adding to China contrarian bet.	+520K	5.40%
GOOG	Add 29%	+399K	8.10%
NVDA	Add 25% Doubling down on AI infrastructure.	+180K	10.20%
MPLX	Add 17%	+93K	0.50%
LRCX	Add 15%	+55K	1.10%
MSFT	Add 8%	+38K	3.50%
TSM	Add 7%	+70K	5.00%
FE	Sell (exit)	-925K	0.00%
BLOCK	Sell (exit)	-370K	0.00%
AMD	Reduce 66%	-625K	1.00%
BAIDU	Reduce 45%	-470K	1.10%
JD	Reduce 33%	-2.07M	1.70%
LYFT	Reduce 32%	-1.80M	1.10%
VST	Reduce 24%	-300K	2.20%
AMZN	Reduce 13%	-321K	7.30%
NRG	Reduce 12%	-230K	3.80%
META	Reduce 8% Small META profit-take.	-95K	9.10%
QCOM	Reduce 8%	-100K	2.80%

Showing top 20 by position change · 1 smaller moves hidden

Q3 2025

8 buys · 18 sells

Ticker	Activity	Share change	% portfolio
QCOM	Add 256%	+895K	2.80%
AMD	Buy (new)	+950K	2.10%
FE	Buy (new)	+925K	1.60%
BAIDU	Add 67%	+420K	1.90%
NVDA	Add 35% Big NVDA add.	+225K	8.40%
META	Add 22% Building META conviction.	+195K	9.80%
IVV	Add 11%	+110K	0.60%
INTC	Sell (exit)	-8.00M	0.00%
ORCL	Sell (exit)	-150K	0.00%
UNH	Reduce 92%	-2.25M	1.00%
BLOCK	Reduce 42%	-272K	0.40%
MU	Reduce 39%	-325K	1.10%
VST	Reduce 31%	-555K	3.30%
LYFT	Reduce 30%	-2.40M	1.70%
DAL	Reduce 16%	-88K	0.40%
UBER	Reduce 12%	-343K	3.20%
JD	Reduce 11%	-775K	2.90%
PDD	Reduce 10%	-200K	3.20%
ASML	Reduce 9%	-6K	0.80%
MPLX	Reduce 8%	-44K	0.40%

Showing top 20 by position change · 6 smaller moves hidden

Q2 2025

9 buys · 16 sells

Ticker	Activity	Share change	% portfolio
UNH	Add 1300%	+2.27M	11.90%
BLOCK	Add 756%	+567K	0.70%
NVDA	Add 483%	+1.45M	4.30%
TSM	Add 280%	+755K	3.60%
MU	Add 106%	+425K	1.60%
INTC	Buy (new)	+8.00M	2.80%
IQV	Buy (new)	+300K	0.70%
DAL	Buy (new)	+550K	0.40%
AAPL	Sell (exit)	-1.25M	0.00%
BN	Sell (exit)	-130K	0.00%
LVS	Sell (exit)	-590K	0.00%
EXE	Sell (exit)	-183K	0.00%
IVV	Reduce 82%	-4.60M	0.60%
ORCL	Reduce 79%	-550K	0.50%
PDD	Reduce 54%	-2.37M	3.20%
META	Reduce 27%	-150K	4.60%
GOOG	Reduce 25%	-510K	4.10%
BABA	Reduce 23%	-2.16M	12.40%
VST	Reduce 22%	-500K	5.40%
LRCX	Reduce 20%	-100K	0.60%

Showing top 20 by position change · 5 smaller moves hidden

David's sector breakdown

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

Technology

7 positions · AMZN, MU, GOOG, TSM, BABA, NVDA, META

76.8%

56.5% of AUM

Industrials

1 position · UBER

10.5%

7.7% of AUM

Utilities

1 position · VST

6.9%

5.1% of AUM

Other

1 position · NRG

5.8%

4.3% 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	15.2%	core	↑ building
MU MICRON TECHNOLOGY INC	9.5%	significant	↑ building
GOOG ALPHABET INC	8.4%	significant	↑ building
UBER UBER TECHNOLOGIES INC	7.7%	significant	↑ building
TSM TAIWAN SEMICONDUCTOR MANUFAC	7.6%	significant	↑ building
BABA ALIBABA GROUP HLDG LTD	7.3%	significant	→ steady
VST VISTRA CORP	5.1%	significant	↑ building
NRG NRG ENERGY INC	4.3%	significant	↓ trimming
NVDA NVIDIA CORPORATION	4.3%	significant	↑ building
META META PLATFORMS INC	4.2%	significant	↓ trimming
PDD PDD HOLDINGS INC	1.5%	starter	↓ trimming
LRCX LAM RESEARCH CORP	1.4%	starter	→ steady
BAIDU BAIDU INC	1.3%	starter	↓ trimming
ASML ASML HLDG NV	1.1%	starter	↓ trimming
QCOM QUALCOMM INC	1.1%	starter	↓ trimming
Showing top 15 of 22 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	Smart $	Insider	Track	Streak	Conc	Contra	Event	Dissent	Crowd
AMZN	15.2	+24	·	-4	+5	+9	·	·	+41	·
MU	9.5	+12	-2	+3	+5	+10	·	·	+5	·
GOOG	8.4	+14	·	-6	+5	+6	+6	·	+25	·
UBER	7.7	+16	·	-1	+5	+9	·	·	+14	·
TSM	7.6	+17	+1	·	+10	+5	·	·	+35	·
BABA	7.3	+14	+10	-2	+10	+10	·	·	+17	·
VST	5.1	+12	·	-7	+10	+6	·	·	+20	·
NRG	4.3	+7	·	+3	·	+2	·	·	+14	·

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 (Q1 2026)

Ticker	Company	% Portfolio	Shares (M)
AMZN	AMAZON COM INC Cloud + retail dual engine.	15.2%	4.32
MU	MICRON TECHNOLOGY INC	9.5%	1.67
GOOG	ALPHABET INC	8.4%	1.73
UBER	UBER TECHNOLOGIES INC Autonomous vehicle optionality.	7.7%	6.33
TSM	TAIWAN SEMICONDUCTOR MANUFAC	7.6%	1.33
BABA	ALIBABA GROUP HLDG LTD China tech contrarian bet.	7.3%	3.47
VST	VISTRA CORP	5.1%	2.02
NRG	NRG ENERGY INC	4.3%	1.73
NVDA	NVIDIA CORPORATION Top position — AI infrastructure.	4.3%	1.47
META	META PLATFORMS INC Quality compounder at reasonable multiple.	4.2%	0.44

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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: QQQ · overlap score 238.5 across 5 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.

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Per-quarter digests

What David Tepper did, quarter by quarter

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

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

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 2026-05-15 (Q1 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.