David Tepper’s Appaloosa Management revealed significant bearish positions in its Q2 2026 13F filing, with put options on 835,000 Apple shares worth $241.62 million notional value and on 25,000 Berkshire Hathaway shares valued at $12.51 million. These positions are entirely new, as Tepper had already exited his long Apple holdings in prior quarters, making them directional bearish bets rather than hedges. With roughly $7.7 billion in total 13F assets, the Apple puts alone represent about 3% of the disclosed portfolio. Notably, while shorting Apple, Tepper actually added to his Amazon position and completely exited 12 other positions during the quarter.
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