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BIG MONEY · COPY-TRADE BACKTEST
If You Copied Appaloosa (David Tepper)
Institutional fund · 13F filer
Every position below enters at the close on the disclosure date — the first day this was public — never the underlying trade date. A fund’s 13F only reveals a position once a quarter; the entry used here is the quarter’s report date, and the real public filing can trail that date by up to 45 days — see the caveat below.
See the disclosed holdings this is built fromCopying 6 disclosed buys since Jun 30, equal-weighted, held to 2026-09-06
−5.5%
Copy-trade return · 6 positions
+2.9%
S&P 500, same windows
−8.4%
Vs. index
Positions
| Ticker | Disclosed | Entry | Last | Return | Index, same window |
|---|---|---|---|---|---|
| AAPL | Jun 30 | Jun 30 @ $289.36 | Sep 4 @ $319.97 | +10.6% | +2.9% |
| BA | Jun 30 | Jun 30 @ $216.47 | Sep 4 @ $212.25 | −1.9% | +2.9% |
| AAL | Jun 30 | Jun 30 @ $18.07 | Sep 4 @ $13.13 | −27.3% | +2.9% |
| CRWV | Jun 30 | Jun 30 @ $99.54 | Sep 4 @ $89.36 | −10.2% | +2.9% |
| AVGO | Jun 30 | Jun 30 @ $377.75 | Sep 4 @ $357.90 | −5.3% | +2.9% |
| BRK-B | Jun 30 | Jun 30 @ $500.39 | Sep 4 @ $506.03 | +1.1% | +2.9% |
How to read this
- Entry is the close on (or the next trading day after) the disclosure date, never the underlying trade date — the whole point is honesty about when the public could actually act.
- Price return only — dividends are excluded on both sides (the backtest and the index), which understates total return, especially for dividend payers.
- Equal-weighted: every disclosed buy counts the same regardless of the actual dollar size of the trade or position.
- Buys only — disclosed sells are not mirrored or subtracted; this tracks "what if you bought and held," not the entity's actual net position over time.
- For funds, "disclosure date" is the quarter's report date, not the actual 13F filing date — real 13F filings can post up to 45 days after quarter-end, so a stricter forward-honest entry would be later than what's shown here (likely flattering the fund's copy-trade return somewhat).
- Past performance isn't predictive of future results. Not investment advice.