David Tepper: The King of Distressed Debt
Biography
David Tepper is the founder of Appaloosa Management and the owner of the Carolina Panthers. He is widely considered the greatest hedge fund manager of his generation, known for his ability to trade across the capital structure and his legendary "Balls of Steel" when buying during market panics.
Investment Philosophy
Tepper is an opportunistic, event-driven investor. He is famous for his "Tepper Pivot," where he can quickly shift from bearish to bullish based on central bank policy. He looks for distressed debt, equity turnarounds, and macro imbalances. He famously said: "I’m not a value investor. I’m a make-money investor."
Current 13F Portfolio Update
Appaloosa’s portfolio is dynamic. Tepper often holds large positions in "Mag-7" tech stocks (Amazon, Meta, Nvidia) but is not afraid to rotate heavily into energy, financials, or international markets like China when he sees a tactical advantage.