Follow the Rich
Distressed & Macro · Appaloosa
David Tepper
Appaloosa LP
Founder
Investing style
Distressed-debt and macro-driven equity investing — leaning hard into dislocations and cyclical inflection points where sentiment overshoots fundamentals.
Famous principles
- Be greedy when there's blood in the streets.
- Concentration when conviction is high.
- No sacred cows — sell anything.
NoteBig quarter of rotation: airlines (American, Delta, United) fully exited, chip and China exposure reshuffled, SanDisk new.
Total portfolio value
$5.93B
Positions
31
Largest holding
AMZN · 15.2%
Biggest move this quarter
Added: AMZN $899.7M
Allocation
Top 8 holdings + Other
| Ticker | Company | Value | % of Portfolio | Change |
|---|---|---|---|---|
| Amazon.com Inc | $899.7M | 15.16% | added | |
| Micron Technology Inc | $562.5M | 9.48% | added | |
| Alphabet Inc (Cl C) | $497.0M | 8.38% | trimmed | |
| Uber Technologies Inc | $455.5M | 7.68% | added | |
| Taiwan Semiconductor (ADS) | $448.6M | 7.56% | added | |
| Alibaba Group (ADS) | $434.7M | 7.33% | trimmed | |
| Vistra Corp | $304.0M | 5.12% | added | |
| iShares MSCI South Korea ETF | $295.2M | 4.98% | added | |
| NVIDIA Corporation | $256.6M | 4.33% | trimmed | |
| NRG Energy Inc | $253.5M | 4.27% | added |
Showing top 10 of 31 reported positions.
What changed this quarter
- addedAMZNAmazon.com Inc
- addedMUMicron Technology Inc
- trimmedGOOGAlphabet Inc (Cl C)
- addedUBERUber Technologies Inc
- addedTSMTaiwan Semiconductor (ADS)
- trimmedBABAAlibaba Group (ADS)
- addedVSTVistra Corp
- addedEWYiShares MSCI South Korea ETF
- trimmedNVDANVIDIA Corporation
- addedNRGNRG Energy Inc
- exitedAALAmerican Airlines
- exitedDALDelta Air Lines
- exitedUALUnited Airlines
- exitedGTGoodyear
- exitedIQVIQVIA
- exitedFXIiShares China Large-Cap ETF
- exitedMHKMohawk Industries
- exitedOCOwens Corning