Billionaire investor David Tepper's hedge fund, Appaloosa Management, increased its stake in Uber Technologies by 21.5% during the second quarter of 2026. The fund added over 1.3 million shares, bringing its total position to 7.69 million shares valued at approximately $555.2 million as of June 30. The move solidifies Uber as one of Appaloosa's top five holdings, representing about 7.2% of its reported portfolio.
This trade was disclosed in Appaloosa's quarterly 13F filing on August 14, which details the firm's holdings at the end of the previous quarter. Therefore, the purchase occurred sometime between April 1 and June 30. During that period, Uber's business showed strong growth, with its Q2 results later revealing a 24% year-over-year increase in gross bookings and a 16% rise in monthly active consumers.