David Tepper’s portfolio: Appaloosa Management 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001656456Latest: Q2 2026
Q3 2025 filing in brief
In its Q3 2025 13F, filed November 13, 2025, Appaloosa Management reported $7.4B across 45 US positions. The largest: BABA (15.6%), AMZN (7.4%), WHR (5.8%), NVDA (4.8%), GOOG (4.6%). In the quarter it opened 10 positions, sold out of 3, added to 9 and trimmed 24; positions opened and sold out came to 12.1% of the portfolio's value.
Methodology
Holdings come from the manager’s Form 13F-HR filings on SEC EDGAR, with amendments applied. Values and shares are reported at quarter-end; the filing date is when the report became public. These disclosures show reported long positions and listed options, not the manager’s entire portfolio or its trades since quarter-end.
Quarterly changes compare shares with the immediately preceding quarter on file. New and exited positions appear or disappear; added and trimmed positions change their share count by more than 1%. A share change can also reflect a stock split or other corporate action.
Opened and sold out is the value of new positions plus the prior value of exited positions, divided by the average of the two quarters’ reported portfolio values. It excludes changes to positions still held. Reported value growth includes price changes and is not a measure of investment performance. Largest-five and largest-ten weights exclude options.
Holdings
Filed Nov 13, 2025
- 10 New
- 9 Added
- 24 Trimmed
- 3 Exited
45 positions at September 30, 2025. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | BABA | ALIBABA GROUP HLDG LTD | $1.2B | 6.5M | 15.61% | −8.7% | Trimmed |
| 2 | AMZN | AMAZON COM INC | $549M | 2.5M | 7.43% | −7.4% | Trimmed |
| 3 | WHR | WHIRLPOOL CORP | $432M | 5.5M | 5.85% | +1967.0% | Added |
| 4 | NVDA | NVIDIA CORPORATION | $355M | 1.9M | 4.80% | +8.6% | Added |
| 5 | GOOG | ALPHABET INC | $338M | 1.4M | 4.58% | −7.5% | Trimmed |
| 6 | KWEB | KRANESHARES TRUST | $311M | 7.4M | 4.21% | +85.0% | Added |
| 7 | NRG | NRG ENERGY INC | $303M | 1.9M | 4.10% | −5.6% | Trimmed |
| 8 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $296M | 1.1M | 4.01% | +3.4% | Added |
| 9 | META | META PLATFORMS INC | $272M | 370.0K | 3.68% | −7.5% | Trimmed |
| 10 | VST | VISTRA CORP | $244M | 1.2M | 3.30% | −30.8% | Trimmed |
| 11 | MSFT | MICROSOFT CORP | $240M | 462.5K | 3.24% | −7.5% | Trimmed |
| 12 | PDD | PDD HOLDINGS INC | $238M | 1.8M | 3.22% | −10.0% | Trimmed |
| 13 | UBER | UBER TECHNOLOGIES INC | $236M | 2.4M | 3.19% | −12.5% | Trimmed |
| 14 | JD | JD.COM INC | $218M | 6.2M | 2.95% | −11.1% | Trimmed |
| 15 | QCOM | QUALCOMM INC | $207M | 1.2M | 2.81% | +255.7% | Added |
| 16 | AMD | ADVANCED MICRO DEVICES INC | $154M | 950.0K | 2.08% | — | New |
| 17 | BIDU | BAIDU INC | $138M | 1.0M | 1.86% | +67.2% | Added |
| 18 | DB | DEUTSCHE BANK A G | $134M | 3.8M | 1.82% | −5.2% | Trimmed |
| 19 | GLW | CORNING INC | $133M | 1.6M | 1.81% | −7.1% | Trimmed |
| 20 | LYFT | LYFT INC | $123M | 5.6M | 1.67% | −30.0% | Trimmed |
| 21 | FISV | FISERV INC | $119M | 925.0K | 1.62% | — | New |
| 22 | AAL | AMERICAN AIRLS GROUP INC | $104M | 9.3M | 1.41% | — | New |
| 23 | LHX | L3HARRIS TECHNOLOGIES INC | $92M | 300.0K | 1.24% | −14.3% | Trimmed |
| 24 | RTX | RTX CORPORATION | $85M | 509.5K | 1.15% | −12.9% | Trimmed |
| 25 | ET | ENERGY TRANSFER L P | $85M | 5.0M | 1.15% | 0.0% | Held |
| 26 | MU | MICRON TECHNOLOGY INC | $84M | 500.0K | 1.13% | −39.4% | Trimmed |
| 27 | UNH | UNITEDHEALTH GROUP INC | $70M | 203.5K | 0.95% | −91.7% | Trimmed |
| 28 | TFC | TRUIST FINL CORP | $63M | 1.4M | 0.86% | — | New |
| 29 | ASML | ASML HOLDING N V | $62M | 64.0K | 0.84% | −8.6% | Trimmed |
| 30 | CZR | CAESARS ENTERTAINMENT INC NE | $57M | 2.1M | 0.77% | 0.0% | Held |
| 31 | IQV | IQVIA HLDGS INC | $54M | 285.0K | 0.73% | −5.0% | Trimmed |
| 32 | LRCX | LAM RESEARCH CORP | $50M | 370.0K | 0.67% | −7.5% | Trimmed |
| 33 | FXI | ISHARES TR | $46M | 1.1M | 0.62% | +11.0% | Added |
| 34 | UAL | UNITED AIRLS HLDGS INC | $45M | 462.5K | 0.60% | −15.9% | Trimmed |
| 35 | GT | GOODYEAR TIRE & RUBR CO | $38M | 5.1M | 0.52% | +496.4% | Added |
| 36 | KEY | KEYCORP | $38M | 2.0M | 0.51% | — | New |
| 37 | CFG | CITIZENS FINL GROUP INC | $32M | 600.0K | 0.43% | — | New |
| 38 | CMA | COMERICA INC | $32M | 462.5K | 0.43% | — | New |
| 39 | XYZ | BLOCK INC | $27M | 370.0K | 0.36% | −42.3% | Trimmed |
| 40 | MPLX | MPLX LP | $27M | 535.0K | 0.36% | −7.5% | Trimmed |
| 41 | DAL | DELTA AIR LINES INC DEL | $26M | 462.5K | 0.36% | −15.9% | Trimmed |
| 42 | OC | OWENS CORNING NEW | $23M | 161.5K | 0.31% | — | New |
| 43 | MHK | MOHAWK INDS INC | $21M | 161.5K | 0.28% | +148.5% | Added |
| 44 | WEA | WESTERN ALLIANCE BANCORP | $17M | 195.0K | 0.23% | — | New |
| 45 | ZION | ZIONS BANCORPORATION N A | $16M | 285.0K | 0.22% | — | New |
Every quarter on file (42)
From the manager’s Form 13F-HR filings on SEC EDGAR, amendments applied. Long US positions only; not a recommendation.