David Tepper's Appaloosa Management fully exited its position in aerospace and defense firm L3Harris Technologies (LHX) during the second quarter of 2026. According to regulatory filings, which reflect trades as of June 30, the fund sold its entire stake of 198,000 shares, previously valued at $68.34 million. The position had accounted for approximately 1.15% of Appaloosa's reported portfolio.
The sale occurred during a period of significant portfolio repositioning for the hedge fund, which saw a broader strategic shift in its holdings. While the specific motive for exiting L3Harris was not disclosed, Appaloosa's 13F filing revealed a trend of taking profits and reallocating capital. Notably, after the June 30 reporting date, L3Harris announced strong second-quarter earnings and raised its full-year guidance in late July. [1, 5, 6]