According to a 13F filing disclosed on August 14, David Tepper's Appaloosa Management opened new put positions referencing 835,000 Apple shares and 25,000 Berkshire Hathaway Class B shares as of June 30. The move is attributed to Apple's Q3 FY26 diluted EPS of $2.02, which included 11 cents from non-recurring tariff refunds, and weakening underlying fundamentals. Apple shares have fallen 6.5% over the past month. Tepper simultaneously added to Nvidia, Meta, and others, framing the Apple puts as targeted hedges rather than a broad bearish market conviction, with Berkshire Hathaway serving as a low-volatility proxy short for Apple exposure.