David Tepper's Appaloosa Management used its Q2 2026 13F filing to disclose new put options on 835,000 Apple shares with $241.62 million in notional value and on 25,000 Berkshire Hathaway shares worth $12.51 million. Because Appaloosa had already exited its long Apple position in earlier quarters, the Apple trade appears to be a directional bearish bet rather than a hedge. The filing, which covers holdings as of June 30, 2026 and was submitted around August 14, also showed the fund exiting 12 other positions while adding to Amazon. Berkshire's own large Apple stake under CEO Greg Abel adds another layer to the trade, and the Apple puts alone account for about 3% of Appaloosa's roughly $7.7 billion disclosed 13F portfolio.