Billionaire investor David Tepper's Appaloosa Management sold its entire position in aerospace and defense firm RTX Corporation during the second quarter of 2026. The exit liquidated 342,000 shares, which had been valued at approximately $65.97 million at the end of the prior quarter. The move was part of a broader trend for the fund, which also exited its position in defense contractor L3Harris Technologies in the same period.
This trade was disclosed in Appaloosa's 13F filing on August 14, 2026, which details holdings as of June 30, 2026, so the trades could have occurred anytime in the second quarter. The sale took place before RTX reported strong second-quarter earnings on July 23, with double-digit growth and a raised full-year outlook. Following the close of the quarter, RTX shares rallied significantly.