David Tepper's AI Stock Portfolio
Founder of Appaloosa Management, a distressed-debt legend who has rotated the book hard into AI and China tech names. This page filters Appaloosa Management's Q2 2026 13F filing through the Supercycle universe: 18 of its reported positions are AI buildout companies, together 88.0% of the portfolio by value.
From the 13F-HR filed for the quarter ended . 13F filings cover long US-listed positions only and lag the quarter by up to 45 days; positions may have changed since. Not investment advice.
AI holdings, scored
| # | Holding | Value | % of portfolio | AI score | Layer | Q/Q |
|---|---|---|---|---|---|---|
| 1 | AMZNAmazon | $1.19B | 16.0% | 58 | Cloud & Hyperscalers | Added +16% |
| 2 | MUMicron Technology | $1.13B | 15.1% | 78 | Memory & Storage | Trimmed -41% |
| 3 | TSMTaiwan Semiconductor | $787.99M | 10.5% | 78 | Chip Equipment & Foundries | Added +24% |
| 4 | GOOGLAlphabet | $653.66M | 8.7% | 70 | Cloud & Hyperscalers | Added +7% |
| 5 | UBERUber Technologies | $555.20M | 7.4% | 20 | Autonomous Vehicles | Added +21% |
| 6 | METAMeta Platforms | $380.22M | 5.1% | 60 | Foundation Models | Added +55% |
| 7 | VSTVistra Corp | $351.41M | 4.7% | 65 | Power & Energy | Added +10% |
| 8 | NVDANVIDIA | $305.14M | 4.1% | 97 | Semiconductors | Added +4% |
| 9 | NRGNRG Energy | $257.07M | 3.4% | 40 | Power & Energy | Added +1% |
| 10 | BABAAlibaba Group | $191.96M | 2.6% | 52 | Cloud & Hyperscalers | Trimmed -42% |
| 11 | LRCXLam Research | $165.75M | 2.2% | 50 | Chip Equipment & Foundries | Unchanged |
| 12 | BIDUBaidu | $148.01M | 2.0% | 58 | Foundation Models | Added +87% |
| 13 | AMDAdvanced Micro Devices | $114.73M | 1.5% | 75 | Semiconductors | Trimmed -11% |
| 14 | CRWVCoreWeave | $107.33M | 1.4% | 97 | Neoclouds | New |
| 15 | ASMLASML Holding | $99.47M | 1.3% | 70 | Chip Equipment & Foundries | Added +1% |
| 16 | AVGOBroadcom | $56.66M | 0.8% | 78 | Semiconductors | New |
| 17 | QCOMQualcomm | $46.20M | 0.6% | 45 | Semiconductors | Trimmed -50% |
| 18 | SPCXSpaceX | $38.44M | 0.5% | 35 | Defense & Aerospace AI | New |
Options positions
The filing also reports these put and call option positions, including any on underlyings outside the tracked universe (an index put is a hedge on the whole book). They are shown separately and excluded from every figure above: a 13F reports an option at the market value of the shares it covers, not what the fund paid, and puts are bets against a name, not holdings of it.
| Type | Underlying | Underlying value | Shares covered |
|---|---|---|---|
| Put | AAPLApple | $241.62M | 835,000 |
| Put | BERKSHIRE HATHAWAY INC DEL(untracked) | $12.51M | 25,000 |
Where the AI money sits in the buildout
What changed: Q1 2026 to Q2 2026
- Added AMZN (+16% shares)
- Trimmed MU (-41% shares)
- Added TSM (+24% shares)
- Added GOOGL (+7% shares)
- Added UBER (+21% shares)
- Added META (+55% shares)
- Added VST (+10% shares)
- Added NVDA (+4% shares)
- Added NRG (+1% shares)
- Trimmed BABA (-42% shares)
- Added BIDU (+87% shares)
- Trimmed AMD (-11% shares)
- New CRWV
- Added ASML (+1% shares)
- New AVGO
- Trimmed QCOM (-50% shares)
- New SPCX
- Exited SNDK (was $178.69M)
- Exited GLW (was $153.58M)
- Exited LHX (was $68.34M)
- Exited RTX (was $65.97M)
- Exited MSFT (was $33.32M)
Frequently asked questions
What is David Tepper's biggest AI stock?
In the Q2 2026 13F, Appaloosa Management's largest tracked AI position is Amazon (AMZN) at $1.19B, 16.0% of the reported portfolio. AMZN carries an AI Exposure Score of 58.
How much of David Tepper's portfolio is in AI stocks?
88.0% of Appaloosa Management's Q2 2026 13F value ($6.58B of $7.47B) is in companies in the Supercycle AI universe, with a value-weighted AI Exposure Score of 64 (Strategic tier).
What did David Tepper change last quarter?
Between Q1 2026 and Q2 2026: added AMZN, trimmed MU, added TSM, added GOOGL, added UBER, added META, added VST, added NVDA, added NRG, trimmed BABA, added BIDU, trimmed AMD, new CRWV, added ASML, new AVGO, trimmed QCOM, new SPCX, exited SNDK, exited GLW, exited LHX, exited RTX, exited MSFT.