Manager record · ✦ curated · archived quarter
Appaloosa
David Tepper (President) · Short Hills, NJ · CIK 1656456 · EDGAR filings ↗
Opportunistic, macro-aware equity positioning.
$6.45BReported 13F value
38Positions
64.6%Top-10 weight
16.90Effective holdings
16.9%Est. turnover
+8New
−4Exits
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
30.0% (-17.6pp)
Technology
27.0% (+9.3pp)
Healthcare
12.6% (+11.0pp)
Utilities
10.3% (+1.9pp)
Communication Services
9.5% (-3.1pp)
Financial Services
4.5% (-3.2pp)
Industrials
3.8% (+2.7pp)
Energy
1.9% (-0.6pp)
Real Estate
0.4% (-0.3pp)
Share of reported common-equity value; (±pp) vs prior quarter.
The portfolio · Q2 2025
| # | Security | Weight | Value | Shares | Δ shares | Held | |
|---|---|---|---|---|---|---|---|
| 1 | BABA Alibaba Group Holding… | 12.4% | $801.50M | 7.07M | -23.4% | ▼ Trim | 5 |
| 2 | UNH UnitedHealth Group… | 11.9% | $764.33M | 2.45M | +1300.0% | ▲ Add | 5 |
| 3 | AMZN Amazon.com, Inc. | 9.2% | $592.35M | 2.70M | +7.6% | ▲ Add | 5 |
| 4 | VST Vistra Corp. | 5.4% | $348.86M | 1.80M | -21.7% | ▼ Trim | 4 |
| 5 | NRG NRG Energy, Inc. | 4.9% | $317.95M | 1.98M | -3.4% | ▼ Trim | 4 |
| 6 | META Meta Platforms, Inc. | 4.6% | $295.24M | 400.00K | -27.3% | ▼ Trim | 5 |
| 7 | NVDA NVIDIA Corporation | 4.3% | $276.48M | 1.75M | +483.3% | ▲ Add | 5 |
| 8 | GOOG Alphabet Inc. | 4.1% | $266.08M | 1.50M | -25.4% | ▼ Trim | 5 |
| 9 | UBER Uber Technologies, Inc. | 4.0% | $256.57M | 2.75M | -14.1% | ▼ Trim | 5 |
| 10 | MSFT Microsoft Corporation | 3.9% | $248.71M | 500.00K | -2.0% | ▼ Trim | 5 |
| 11 | TSM Taiwan Semiconductor… | 3.6% | $232.15M | 1.02M | +279.6% | ▲ Add | 5 |
| 12 | JD JD.com, Inc. | 3.5% | $228.48M | 7.00M | -13.0% | ▼ Trim | 5 |
| 13 | PDD PDD Holdings Inc. | 3.2% | $209.32M | 2.00M | -54.2% | ▼ Trim | 5 |
| 14 | INTC Intel Corp. | 2.8% | $179.20M | 8.00M | New | New | 1 |
| 15 | KWEB KraneShares CSI China… | 2.1% | $137.32M | 4.00M | 0.0% | Held | 5 |
| 16 | LYFT Lyft, Inc. | 2.0% | $126.08M | 8.00M | -11.1% | ▼ Trim | 5 |
| 17 | DB Deutsche Bank AG | 1.8% | $117.12M | 4.00M | +6.7% | ▲ Add | 2 |
| 18 | MU Micron Technology, Inc. | 1.6% | $101.68M | 825.00K | +106.2% | ▲ Add | 5 |
| 19 | GLW Corning Inc | 1.4% | $92.03M | 1.75M | +0.4% | ▲ Add | 3 |
| 20 | ET Energy Transfer LP | 1.4% | $89.87M | 4.96M | 0.0% | Held | 5 |
| 21 | LHX L3Harris Technologies, Inc. | 1.4% | $87.79M | 350.00K | +16.7% | ▲ Add | 2 |
| 22 | RTX RTX Corporation | 1.3% | $85.42M | 585.00K | New | New | 1 |
| 23 | CZR Caesars Entertainment, Inc. | 0.9% | $59.62M | 2.10M | -4.5% | ▼ Trim | 5 |
| 24 | ASML ASML Holding N.V. | 0.9% | $56.10M | 70.00K | 0.0% | Held | 5 |
| 25 | QCOM QUALCOMM Incorporated | 0.9% | $55.74M | 350.00K | 0.0% | Held | 5 |
| 26 | BIDU Baidu, Inc. | 0.8% | $53.60M | 625.00K | -19.4% | ▼ Trim | 5 |
| 27 | IQV IQVIA Holdings Inc. | 0.7% | $47.28M | 300.00K | New | New | 1 |
| 28 | UAL United Airlines Holdings… | 0.7% | $43.80M | 550.00K | New | New | 1 |
| 29 | XYZ Block, Inc. | 0.7% | $43.60M | 641.80K | +755.7% | ▲ Add | 2 |
| 30 | LRCX Lam Research Corporation | 0.6% | $38.94M | 400.00K | -20.0% | ▼ Trim | 5 |
| 31 | FXI iShares China Large-Cap ETF | 0.6% | $36.76M | 1.00M | -82.1% | ▼ Trim | 5 |
| 32 | ORCL Oracle Corporation | 0.5% | $32.79M | 150.00K | -78.6% | ▼ Trim | 5 |
| 33 | MPLX MPLX Lp | 0.5% | $29.80M | 578.50K | 0.0% | Held | 5 |
| 34 | DAL Delta Air Lines, Inc. | 0.4% | $27.05M | 550.00K | New | New | 1 |
| 35 | WHR Whirlpool Corporation | 0.4% | $26.99M | 266.09K | New | New | 1 |
| 36 | BEKE KE Holdings Inc. | 0.4% | $26.61M | 1.50M | -21.1% | ▼ Trim | 5 |
| 37 | GT The Goodyear Tire & Rubber… | 0.1% | $8.94M | 861.78K | New | New | 1 |
| 38 | MHK Mohawk Industries, Inc. | 0.1% | $6.81M | 65.00K | 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 |
|---|---|---|---|---|---|---|
| INTC Intel Corp. | 8.00M | n/a | New | $179.20M | 2.8% | |
| RTX RTX Corporation | 585.00K | n/a | New | $85.42M | 1.3% | |
| IQV IQVIA Holdings Inc. | 300.00K | n/a | New | $47.28M | 0.7% | |
| UAL United Airlines… | 550.00K | n/a | New | $43.80M | 0.7% | |
| DAL Delta Air Lines, Inc. | 550.00K | n/a | New | $27.05M | 0.4% | |
| WHR Whirlpool Corporation | 266.09K | n/a | New | $26.99M | 0.4% | |
| GT The Goodyear Tire &… | 861.78K | n/a | New | $8.94M | 0.1% | |
| MHK Mohawk Industries, Inc. | 65.00K | n/a | New | $6.81M | 0.1% |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| UNH UnitedHealth Group… | 2.45M | 175.00K | +1300.0% | $764.33M | 11.9% | ●●○○○○ |
| AMZN Amazon.com, Inc. | 2.70M | 2.51M | +7.6% | $592.35M | 9.2% | |
| NVDA NVIDIA Corporation | 1.75M | 300.00K | +483.3% | $276.48M | 4.3% | |
| TSM Taiwan Semiconductor… | 1.02M | 270.00K | +279.6% | $232.15M | 3.6% | ●●○○○○ |
| DB Deutsche Bank AG | 4.00M | 3.75M | +6.7% | $117.12M | 1.8% | ●●○○○○ |
| MU Micron Technology, Inc. | 825.00K | 400.00K | +106.2% | $101.68M | 1.6% | |
| GLW Corning Inc | 1.75M | 1.74M | +0.4% | $92.03M | 1.4% | ●●●○○○ |
| LHX L3Harris Technologies… | 350.00K | 300.00K | +16.7% | $87.79M | 1.4% | ●●○○○○ |
| XYZ Block, Inc. | 641.80K | 75.00K | +755.7% | $43.60M | 0.7% | ●●○○○○ |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| BABA Alibaba Group Holding… | 7.07M | 9.23M | -23.4% | $801.50M | 12.4% | ●●○○○○ |
| PDD PDD Holdings Inc. | 2.00M | 4.37M | -54.2% | $209.32M | 3.2% | ●●○○○○ |
| VST Vistra Corp. | 1.80M | 2.30M | -21.7% | $348.86M | 5.4% | ●●○○○○ |
| JD JD.com, Inc. | 7.00M | 8.05M | -13.0% | $228.48M | 3.5% | ●●○○○○ |
| NRG NRG Energy, Inc. | 1.98M | 2.05M | -3.4% | $317.95M | 4.9% | |
| META Meta Platforms, Inc. | 400.00K | 550.00K | -27.3% | $295.24M | 4.6% | |
| GOOG Alphabet Inc. | 1.50M | 2.01M | -25.4% | $266.08M | 4.1% | |
| UBER Uber Technologies, Inc. | 2.75M | 3.20M | -14.1% | $256.57M | 4.0% | |
| MSFT Microsoft Corporation | 500.00K | 510.00K | -2.0% | $248.71M | 3.9% | ●●○○○○ |
| FXI iShares China Large-Cap… | 1.00M | 5.60M | -82.1% | $36.76M | 0.6% | ●●○○○○ |
| LYFT Lyft, Inc. | 8.00M | 9.00M | -11.1% | $126.08M | 2.0% | ●●●○○○ |
| ORCL Oracle Corporation | 150.00K | 700.00K | -78.6% | $32.79M | 0.5% | ●●●●○○ |
| BIDU Baidu, Inc. | 625.00K | 775.00K | -19.4% | $53.60M | 0.8% | ●●○○○○ |
| CZR Caesars Entertainment… | 2.10M | 2.20M | -4.5% | $59.62M | 0.9% | |
| LRCX Lam Research Corporation | 400.00K | 500.00K | -20.0% | $38.94M | 0.6% | ●●○○○○ |
| BEKE KE Holdings Inc. | 1.50M | 1.90M | -21.1% | $26.61M | 0.4% | ●●○○○○ |
| Security | Shares | Prior | Change | Value | Weight | Streak |
|---|---|---|---|---|---|---|
| WYNN Wynn Resorts, Limited | n/a | 320.00K | Exit | $26.72M | 0.5% | |
| LVS Las Vegas Sands Corp. | n/a | 590.00K | Exit | $22.79M | 0.4% | |
| AVGO Broadcom Inc. | n/a | 130.00K | Exit | $21.77M | 0.4% | |
| EXE Expand Energy… | n/a | 182.72K | Exit | $18.81M | 0.3% |
Position age
80–1 quarters
62–4 quarters
245–8 quarters
Consecutive quarters each current position has been reported, within our data window.
Similar managers
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|---|---|---|---|---|
| IMC-Chicago, LLC | 19 | 1.2% | 0.616 | Compare ⇄ |
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| 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: Q2 2025 · latest filing Aug 14, 2026 ·
Change methodology