Manager record · ✦ curated · archived quarter
Appaloosa
David Tepper (President) · Short Hills, NJ · CIK 1656456 · EDGAR filings ↗
Opportunistic, macro-aware equity positioning.
$8.38BReported 13F value
38Positions
73.2%Top-10 weight
11.80Effective holdings
8.3%Est. turnover
+4New
−5Exits
Reported 13F portfolio value covers U.S. reportable long positions only, not cash, bonds, shorts or non-U.S. holdings. It is not assets under management.
Sector exposure
Consumer Cyclical
47.6% (+7.1pp)
Technology
17.7% (-8.7pp)
Communication Services
12.6% (+0.6pp)
Utilities
8.4% (+0.1pp)
Financial Services
7.7% (+2.5pp)
Energy
2.5% (-1.4pp)
Healthcare
1.6% (+0.2pp)
Industrials
1.1% (-0.4pp)
Real Estate
0.7% (+0.0pp)
Share of reported common-equity value; (±pp) vs prior quarter.
The portfolio · Q1 2025
| # | Security | Weight | Value | Shares | Δ shares | Held | |
|---|---|---|---|---|---|---|---|
| 1 | BABA Alibaba Group Holding… | 21.9% | $1.22B | 9.23M | -22.1% | ▼ Trim | 4 |
| 2 | PDD PDD Holdings Inc. | 9.3% | $517.19M | 4.37M | -18.4% | ▼ Trim | 4 |
| 3 | AMZN Amazon.com, Inc. | 8.6% | $477.55M | 2.51M | -3.5% | ▼ Trim | 4 |
| 4 | JD JD.com, Inc. | 5.9% | $331.02M | 8.05M | -23.1% | ▼ Trim | 4 |
| 5 | META Meta Platforms, Inc. | 5.7% | $317.00M | 550.00K | +12.2% | ▲ Add | 4 |
| 6 | GOOG Alphabet Inc. | 5.6% | $314.02M | 2.01M | +6.8% | ▲ Add | 4 |
| 7 | VST Vistra Corp. | 4.9% | $270.11M | 2.30M | -14.8% | ▼ Trim | 3 |
| 8 | UBER Uber Technologies, Inc. | 4.2% | $233.15M | 3.20M | +113.3% | ▲ Add | 4 |
| 9 | FXI iShares China Large-Cap ETF | 3.6% | $200.70M | 5.60M | -15.6% | ▼ Trim | 4 |
| 10 | NRG NRG Energy, Inc. | 3.5% | $195.69M | 2.05M | +12.9% | ▲ Add | 3 |
| 11 | MSFT Microsoft Corporation | 3.4% | $191.45M | 510.00K | -47.4% | ▼ Trim | 4 |
| 12 | KWEB KraneShares CSI China… | 2.5% | $139.64M | 4.00M | -12.6% | ▼ Trim | 4 |
| 13 | LYFT Lyft, Inc. | 1.9% | $106.83M | 9.00M | -33.3% | ▼ Trim | 4 |
| 14 | ORCL Oracle Corporation | 1.8% | $97.87M | 700.00K | -50.0% | ▼ Trim | 4 |
| 15 | ET Energy Transfer LP | 1.7% | $92.15M | 4.96M | +0.9% | ▲ Add | 4 |
| 16 | UNH UnitedHealth Group… | 1.6% | $91.66M | 175.00K | +0.3% | ▲ Add | 4 |
| 17 | DB Deutsche Bank AG | 1.6% | $89.36M | 3.75M | New | New | 1 |
| 18 | GLW Corning Inc | 1.4% | $79.82M | 1.74M | +16.2% | ▲ Add | 2 |
| 19 | BIDU Baidu, Inc. | 1.3% | $71.32M | 775.00K | -49.3% | ▼ Trim | 4 |
| 20 | LHX L3Harris Technologies, Inc. | 1.1% | $62.79M | 300.00K | New | New | 1 |
| 21 | CZR Caesars Entertainment, Inc. | 1.0% | $55.00M | 2.20M | 0.0% | Held | 4 |
| 22 | QCOM QUALCOMM Incorporated | 1.0% | $53.76M | 350.00K | -56.2% | ▼ Trim | 4 |
| 23 | ASML ASML Holding N.V. | 0.8% | $46.38M | 70.00K | -56.2% | ▼ Trim | 4 |
| 24 | TSM Taiwan Semiconductor… | 0.8% | $44.82M | 270.00K | +8.0% | ▲ Add | 4 |
| 25 | BEKE KE Holdings Inc. | 0.7% | $38.17M | 1.90M | -26.2% | ▼ Trim | 4 |
| 26 | LRCX Lam Research Corporation | 0.7% | $36.35M | 500.00K | -60.0% | ▼ Trim | 4 |
| 27 | MU Micron Technology, Inc. | 0.6% | $34.76M | 400.00K | -66.7% | ▼ Trim | 4 |
| 28 | NVDA NVIDIA Corporation | 0.6% | $32.51M | 300.00K | -55.9% | ▼ Trim | 4 |
| 29 | MPLX MPLX Lp | 0.6% | $30.96M | 578.50K | 0.0% | Held | 4 |
| 30 | WYNN Wynn Resorts, Limited | 0.5% | $26.72M | 320.00K | -36.0% | ▼ Trim | 3 |
| 31 | LVS Las Vegas Sands Corp. | 0.4% | $22.79M | 590.00K | -34.4% | ▼ Trim | 3 |
| 32 | AVGO Broadcom Inc. | 0.4% | $21.77M | 130.00K | New | New | 1 |
| 33 | EXE Expand Energy Corporation | 0.3% | $18.81M | 182.72K | -73.7% | ▼ Trim | 4 |
| 34 | XYZ Block, Inc. | 0.1% | $4.07M | 75.00K | New | New | 1 |
Common-stock (SH) positions only; option lines are in the Options tab and are never netted. ✂ = change computed against split-adjusted prior shares. “Held N+” = held every quarter in our window, possibly longer.
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| DB Deutsche Bank AG | 3.75M | n/a | New | $89.36M | 1.6% | |
| LHX L3Harris Technologies… | 300.00K | n/a | New | $62.79M | 1.1% | |
| AVGO Broadcom Inc. | 130.00K | n/a | New | $21.77M | 0.4% | |
| XYZ Block, Inc. | 75.00K | n/a | New | $4.07M | 0.1% |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| GOOG Alphabet Inc. | 2.01M | 1.88M | +6.8% | $314.02M | 5.6% | |
| META Meta Platforms, Inc. | 550.00K | 490.00K | +12.2% | $317.00M | 5.7% | |
| UBER Uber Technologies, Inc. | 3.20M | 1.50M | +113.3% | $233.15M | 4.2% | ●●○○○○ |
| NRG NRG Energy, Inc. | 2.05M | 1.81M | +12.9% | $195.69M | 3.5% | ●●●○○○ |
| ET Energy Transfer LP | 4.96M | 4.91M | +0.9% | $92.15M | 1.7% | |
| UNH UnitedHealth Group… | 175.00K | 174.50K | +0.3% | $91.66M | 1.6% | |
| GLW Corning Inc | 1.74M | 1.50M | +16.2% | $79.82M | 1.4% | ●●○○○○ |
| TSM Taiwan Semiconductor… | 270.00K | 250.00K | +8.0% | $44.82M | 0.8% |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| BABA Alibaba Group Holding… | 9.23M | 11.84M | -22.1% | $1.22B | 21.9% | |
| AMZN Amazon.com, Inc. | 2.51M | 2.60M | -3.5% | $477.55M | 8.6% | ●●●○○○ |
| PDD PDD Holdings Inc. | 4.37M | 5.36M | -18.4% | $517.19M | 9.3% | |
| MSFT Microsoft Corporation | 510.00K | 970.00K | -47.4% | $191.45M | 3.4% | |
| VST Vistra Corp. | 2.30M | 2.70M | -14.8% | $270.11M | 4.9% | |
| JD JD.com, Inc. | 8.05M | 10.47M | -23.1% | $331.02M | 5.9% | |
| ORCL Oracle Corporation | 700.00K | 1.40M | -50.0% | $97.87M | 1.8% | ●●●○○○ |
| FXI iShares China Large-Cap… | 5.60M | 6.64M | -15.6% | $200.70M | 3.6% | |
| LYFT Lyft, Inc. | 9.00M | 13.50M | -33.3% | $106.83M | 1.9% | ●●○○○○ |
| KWEB KraneShares CSI China… | 4.00M | 4.58M | -12.6% | $139.64M | 2.5% | |
| BIDU Baidu, Inc. | 775.00K | 1.53M | -49.3% | $71.32M | 1.3% | |
| QCOM QUALCOMM Incorporated | 350.00K | 800.00K | -56.2% | $53.76M | 1.0% | |
| ASML ASML Holding N.V. | 70.00K | 160.00K | -56.2% | $46.38M | 0.8% | |
| MU Micron Technology, Inc. | 400.00K | 1.20M | -66.7% | $34.76M | 0.6% | |
| NVDA NVIDIA Corporation | 300.00K | 680.00K | -55.9% | $32.51M | 0.6% | |
| LRCX Lam Research Corporation | 500.00K | 1.25M | -60.0% | $36.35M | 0.7% | |
| EXE Expand Energy… | 182.72K | 695.00K | -73.7% | $18.81M | 0.3% | |
| BEKE KE Holdings Inc. | 1.90M | 2.57M | -26.2% | $38.17M | 0.7% | |
| LVS Las Vegas Sands Corp. | 590.00K | 900.00K | -34.4% | $22.79M | 0.4% | ●●○○○○ |
| WYNN Wynn Resorts, Limited | 320.00K | 500.00K | -36.0% | $26.72M | 0.5% | ●●○○○○ |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| AMD Advanced Micro Devices… | n/a | 1.20M | Exit | $144.95M | 2.2% | |
| FDX FedEx Corporation | n/a | 350.00K | Exit | $98.47M | 1.5% | |
| EQT EQT Corporation | n/a | 800.00K | Exit | $36.89M | 0.6% | |
| AR Antero Resources… | n/a | 840.00K | Exit | $29.44M | 0.5% | |
| INTC Intel Corp. | n/a | 1.00M | Exit | $20.05M | 0.3% |
| Underlying | Type | Underlying shares | Reported value |
|---|---|---|---|
| SPYX | Put | 4.50M | $2.52B |
| AAPL | Put | 1.25M | $277.66M |
| SMH | Put | 100.00K | $21.15M |
13Fs report option notional (underlying shares and market value) but not strike, expiry, or whether the option was bought or written, so no direction can be inferred. Methodology
Position age
40–1 quarters
302–4 quarters
Consecutive quarters each current position has been reported, within our data window.
Similar managers
| Manager | Common positions | Name overlap | Weighted similarity | |
|---|---|---|---|---|
| IMC-Chicago, LLC | 19 | 1.2% | 0.616 | Compare ⇄ |
| Bnp Paribas Financial Markets | 25 | 0.5% | 0.5853 | Compare ⇄ |
| Nomura Holdings Inc | 20 | 1.9% | 0.58 | Compare ⇄ |
| Sanders Capital, LLC | 6 | 9.1% | 0.5654 | Compare ⇄ |
| Coatue Management | 12 | 15.4% | 0.545 | Compare ⇄ |
| Tiger Global Management | 9 | 14.5% | 0.4913 | Compare ⇄ |
| Optiver Holding B.V. | 15 | 0.7% | 0.4753 | Compare ⇄ |
| PRIMECAP Management | 16 | 4.8% | 0.4624 | Compare ⇄ |
Similarity of reported longs only; hedges and non-13F assets are invisible. Methodology
Filing record
Aug 14 2026
13F-HR · period Q2 2026
$7.73B · 27 holdings listed · View original SEC filing ↗
May 15 2026
13F-HR · period Q1 2026
$5.93B · 31 holdings listed · View original SEC filing ↗
Feb 17 2026
13F-HR · period Q4 2025
$6.93B · 39 holdings listed · View original SEC filing ↗
Nov 13 2025
13F-HR · period Q3 2025
$7.38B · 45 holdings listed · View original SEC filing ↗
Aug 14 2025
13F-HR · period Q2 2025
$6.45B · 38 holdings listed · View original SEC filing ↗
May 15 2025
13F-HR · period Q1 2025
$8.38B · 38 holdings listed · View original SEC filing ↗
Feb 10 2025
13F-HR · period Q4 2024
$6.46B · 37 holdings listed · View original SEC filing ↗
Nov 14 2024
13F-HR · period Q3 2024
$6.73B · 38 holdings listed · View original SEC filing ↗
Aug 14 2024
13F-HR · period Q2 2024
$6.18B · 37 holdings listed · View original SEC filing ↗
Provenance: All holdings parsed from this manager's 13F information tables on SEC EDGAR; values as reported, whole USD. Changes compare the latest accepted version of each quarter (amendments incorporated) on split-adjusted share counts.
Reporting period: Q1 2025 · latest filing Aug 14, 2026 ·
Change methodology