Appaloosa Management (Tepper)

CIK: 0001656456 · Filing period: 2025-12-31

Bold Strategists

David Tepper is famous for buying aggressively when everyone else is panicking — his fearless bets after the 2008 crisis became Wall Street legend.

A Copyable return: +34.3%/yr vs S&P +16.9%/yr if you'd mirrored their filings (2022-03-31 → 2025-09-30) · beat the market 67% of quarters how?

1.2×

Trust Weight

Positions

In our model

New

Increasing

Decreasing

Unchanged

In Our Model Portfolio

These holdings also appear in the Bogen Capital model

AMZN 7.3% MSFT 3.5% UBER 2.2% UNH 1.0%

Recent Moves

What Appaloosa Management opened, added to, or trimmed in their latest 13F — 31 position changes

AMZN AMAZON COM INC ▲ Added +98% 15.2% of port. MU MICRON TECHNOLOGY INC ▲ Added +11% 9.5% of port. GOOG ALPHABET INC ▼ Trimmed -3% 8.4% of port. UBER UBER TECHNOLOGIES INC ▲ Added +242% 7.7% of port. TSM TAIWAN SEMICONDUCTOR MANUFAC ▲ Added +18% 7.6% of port. BABA ALIBABA GROUP HLDG LTD ▼ Trimmed -33% 7.3% of port. VST VISTRA CORP ▲ Added +114% 5.1% of port. — ISHARES INC ▲ Added +28% 5.0% of port. NVDA NVIDIA CORPORATION ▼ Trimmed -13% 4.3% of port. — NRG ENERGY INC ▲ Added +6% 4.3% of port.

Top 10 positions (% of portfolio)

Sector breakdown

All Holdings

38 positions, sorted by portfolio weight

← swipe to see all columns

#	Company	Ticker	Sector	% of Portfolio	Activity	Change
1	ALIBABA GROUP HLDG LTD	BABA	Other	11.0%	▼ Decreasing	-20%
2	ALPHABET INC	GOOG	Technology	8.2%	▲ Increasing	+29%
3	AMAZON COM INC	AMZN	Technology	7.3%	▼ Decreasing	-13%
4	MICRON TECHNOLOGY INC	MU	Other	6.2%	▲ Increasing	+200%
5	META PLATFORMS INC	META	Technology	5.8%	▲ Increasing	+62%
6	TAIWAN SEMICONDUCTOR MFG LTD	TSM	Technology	5.0%	▲ Increasing	+7%
7	NVIDIA CORPORATION	NVDA	Technology	4.6%	▼ Decreasing	-10%
8	WHIRLPOOL CORP	—	Other	4.1%	▼ Decreasing	-29%
9	NRG ENERGY INC	—	Other	3.8%	▼ Decreasing	-12%
10	MICROSOFT CORP	MSFT	Technology	3.5%	▲ Increasing	+8%
11	AMERICAN AIRLS GROUP INC	—	Other	3.2%	▲ Increasing	+53%
12	PDD HOLDINGS INC	—	Other	2.9%	— Unchanged	-1%
13	QUALCOMM INC	QCOM	Other	2.9%	▼ Decreasing	-8%
14	ISHARES INC	—	Other	2.7%	● New	NEW
15	KRANESHARES TRUST	—	Other	2.4%	▼ Decreasing	-36%
16	VISTRA CORP	VST	Other	2.2%	▼ Decreasing	-24%
17	UBER TECHNOLOGIES INC	UBER	Consumer	2.2%	▼ Decreasing	-23%
18	CORNING INC	GLW	Other	2.0%	▼ Decreasing	-3%
19	DEUTSCHE BANK A G	—	Other	1.8%	▼ Decreasing	-17%
20	JD.COM INC	—	Other	1.7%	▼ Decreasing	-33%
21	OWENS CORNING NEW	—	Other	1.6%	▲ Increasing	+488%
22	RTX CORPORATION	RTX	Other	1.3%	— Unchanged	-2%
23	L3HARRIS TECHNOLOGIES INC	—	Other	1.3%	— Unchanged	-2%
24	BAIDU INC	—	Other	1.1%	▼ Decreasing	-45%
25	MOHAWK INDS INC	—	Other	1.1%	▲ Increasing	+318%
26	LYFT INC	—	Other	1.1%	▼ Decreasing	-32%
27	LAM RESEARCH CORP	LRCX	Technology	1.1%	▲ Increasing	+15%
28	ADVANCED MICRO DEVICES INC	AMD	Technology	1.0%	▼ Decreasing	-66%
29	ASML HOLDING N V	ASML	Other	1.0%	▼ Decreasing	-2%
30	UNITEDHEALTH GROUP INC	UNH	Healthcare	1.0%	— Unchanged	-2%
31	BALL CORP	—	Other	0.9%	● New	NEW
32	IQVIA HLDGS INC	IQV	Other	0.9%	— Unchanged	-2%
33	UNITED AIRLS HLDGS INC	—	Other	0.8%	— Unchanged	+0%
34	ISHARES TR	—	Other	0.6%	▼ Decreasing	-2%
35	ENERGY TRANSFER L P	—	Other	0.5%	▼ Decreasing	-56%
36	MPLX LP	—	Other	0.5%	▲ Increasing	+17%
37	DELTA AIR LINES INC DEL	DAL	Other	0.5%	▲ Increasing	+3%
38	GOODYEAR TIRE & RUBR CO	—	Other	0.3%	▼ Decreasing	-51%

#1 ALIBABA GROUP HLDG LTD 11.0%

BABA · Other ▼ Decreasing -20%

#2 ALPHABET INC 8.2%

GOOG · Technology ▲ Increasing +29%

#3 AMAZON COM INC 7.3%

AMZN · Technology ▼ Decreasing -13%

#4 MICRON TECHNOLOGY INC 6.2%

MU · Other ▲ Increasing +200%

#5 META PLATFORMS INC 5.8%

META · Technology ▲ Increasing +62%

#6 TAIWAN SEMICONDUCTOR MFG LTD 5.0%

TSM · Technology ▲ Increasing +7%

#7 NVIDIA CORPORATION 4.6%

NVDA · Technology ▼ Decreasing -10%

#8 WHIRLPOOL CORP 4.1%

Other ▼ Decreasing -29%

#9 NRG ENERGY INC 3.8%

Other ▼ Decreasing -12%

#10 MICROSOFT CORP 3.5%

MSFT · Technology ▲ Increasing +8%

#11 AMERICAN AIRLS GROUP INC 3.2%

Other ▲ Increasing +53%

#12 PDD HOLDINGS INC 2.9%

Other — Unchanged

#13 QUALCOMM INC 2.9%

QCOM · Other ▼ Decreasing -8%

#14 ISHARES INC 2.7%

Other ● New

#15 KRANESHARES TRUST 2.4%

Other ▼ Decreasing -36%

#16 VISTRA CORP 2.2%

VST · Other ▼ Decreasing -24%

#17 UBER TECHNOLOGIES INC 2.2%

UBER · Consumer ▼ Decreasing -23%

#18 CORNING INC 2.0%

GLW · Other ▼ Decreasing -3%

#19 DEUTSCHE BANK A G 1.8%

Other ▼ Decreasing -17%

#20 JD.COM INC 1.7%

Other ▼ Decreasing -33%

#21 OWENS CORNING NEW 1.6%

Other ▲ Increasing +488%

#22 RTX CORPORATION 1.3%

RTX · Other — Unchanged

#23 L3HARRIS TECHNOLOGIES INC 1.3%

Other — Unchanged

#24 BAIDU INC 1.1%

Other ▼ Decreasing -45%

#25 MOHAWK INDS INC 1.1%

Other ▲ Increasing +318%

#26 LYFT INC 1.1%

Other ▼ Decreasing -32%

#27 LAM RESEARCH CORP 1.1%

LRCX · Technology ▲ Increasing +15%

#28 ADVANCED MICRO DEVICES INC 1.0%

AMD · Technology ▼ Decreasing -66%

#29 ASML HOLDING N V 1.0%

ASML · Other ▼ Decreasing -2%

#30 UNITEDHEALTH GROUP INC 1.0%

UNH · Healthcare — Unchanged

#31 BALL CORP 0.9%

Other ● New

#32 IQVIA HLDGS INC 0.9%

IQV · Other — Unchanged

#33 UNITED AIRLS HLDGS INC 0.8%

Other — Unchanged

#34 ISHARES TR 0.6%

Other ▼ Decreasing -2%

#35 ENERGY TRANSFER L P 0.5%

Other ▼ Decreasing -56%

#36 MPLX LP 0.5%

Other ▲ Increasing +17%

#37 DELTA AIR LINES INC DEL 0.5%

DAL · Other ▲ Increasing +3%

#38 GOODYEAR TIRE & RUBR CO 0.3%

Other ▼ Decreasing -51%

⚠ Disclaimer: Holdings data from SEC EDGAR 13F filings for Appaloosa Management (Tepper), delayed up to 135 days after quarter-end. This is not investment advice. The investor may have already changed these positions.

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