Appaloosa
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), David Tepper's Appaloosa reported 45 stock positions worth $7.4 billion. Its top holding was Alibaba Group Holding-SP ADR (BABA) at 15.6% of the portfolio, followed by Amazon.com (AMZN, 7.4%) and Whirlpool (WHR, 5.9%). Compared with Q2 2025, it opened 10 new positions, sold out of 3, added to 9 and reduced 24. The biggest buy was Whirlpool (WHR, shares +1967%) and the biggest sale Unitedhealth (UNH, shares −92%).
- Most Recent 13F
- Q2 2026
- Notable People
- David Tepper
- Location
- Short Hills, NJ
- CIK
- 0001656456
- Portfolio Value
- $7.4B (Q3 2025)
- SEC Filing
- 0001656456-25-000007 ↗ filed Nov 13, 2025
Holdings Value
Holdings 45 stocks · $7.4B
| BABA Alibaba Group Holding-SP ADR | 15.61% | 6,450,000 | $1.2B | Reduce -8.7% |
| AMZN Amazon.com Inc. | 7.43% | 2,500,000 | $548.9M | Reduce -7.4% |
| WHR Whirlpool Corp. | 5.85% | 5,500,000 | $432.3M | Add +1967.0% |
| NVDA Nvidia Corp. | 4.80% | 1,900,000 | $354.5M | Add +8.6% |
| GOOG Alphabet Inc. Class C | 4.58% | 1,387,500 | $337.9M | Reduce -7.5% |
| KWEB Kranesh Csi China Internet | 4.21% | 7,400,000 | $310.9M | Add +85.0% |
| NRG NRG Energy Inc. | 4.10% | 1,870,000 | $302.8M | Reduce -5.6% |
| TSM Taiwan Semiconductor-SP ADR | 4.01% | 1,060,000 | $296.0M | Add +3.4% |
| META Meta Platforms Inc. Class A | 3.68% | 370,000 | $271.7M | Reduce -7.5% |
| VST Vistra Corp. | 3.30% | 1,245,000 | $243.9M | Reduce -30.8% |
| MSFT Microsoft Corp. | 3.24% | 462,500 | $239.6M | Reduce -7.5% |
| PDD PDD Holdings Inc. | 3.22% | 1,800,000 | $237.9M | Reduce -10.0% |
| UBER Uber Technologies Inc. | 3.19% | 2,406,983 | $235.8M | Reduce -12.5% |
| JD Jd.com Inc.-ADR | 2.95% | 6,225,000 | $217.8M | Reduce -11.1% |
| QCOM Qualcomm Inc. | 2.81% | 1,245,000 | $207.1M | Add +255.7% |
| AMD Advanced Micro Devices | 2.08% | 950,000 | $153.7M | New |
| BIDU Baidu Inc. - Spon ADR | 1.86% | 1,045,000 | $137.7M | Add +67.2% |
| DB Deutsche Bank AG-Registered | 1.82% | 3,790,000 | $134.2M | Reduce -5.3% |
| GLW Corning Inc. | 1.81% | 1,625,000 | $133.3M | Reduce -7.1% |
| LYFT LYFT Inc. Class A | 1.67% | 5,600,000 | $123.3M | Reduce -30.0% |
| FISV Fiserv Inc. | 1.62% | 925,000 | $119.3M | New |
| AAL American Airlines Group Inc. | 1.41% | 9,250,000 | $104.0M | New |
| LHX L3HARRIS Technologies Inc. | 1.24% | 300,000 | $91.6M | Reduce -14.3% |
| RTX RTX Corp. | 1.15% | 509,500 | $85.3M | Reduce -12.9% |
| ET Energy Transfer LP | 1.15% | 4,957,235 | $85.1M | No change |
| MU Micron Technology Inc. | 1.13% | 500,000 | $83.7M | Reduce -39.4% |
| UNH Unitedhealth Group Inc. | 0.95% | 203,500 | $70.3M | Reduce -91.7% |
| TFC Truist Financial Corp. | 0.86% | 1,387,500 | $63.4M | New |
| ASML ASML Holding NV-NY Reg SHS | 0.84% | 64,000 | $62.0M | Reduce -8.6% |
| CZR Caesars Entertainment Inc. | 0.77% | 2,100,000 | $56.8M | No change |
| IQV Iqvia Holdings Inc. | 0.73% | 285,000 | $54.1M | Reduce -5.0% |
| LRCX Lam Research Corp. | 0.67% | 370,000 | $49.5M | Reduce -7.5% |
| FXI iShares China Large-Cap ETF | 0.62% | 1,110,000 | $45.7M | Add +11.0% |
| UAL United Airlines Holdings Inc. | 0.60% | 462,500 | $44.6M | Reduce -15.9% |
| GT Goodyear Tire & Rubber Co. | 0.52% | 5,140,000 | $38.4M | Add +496.4% |
| KEY Keycorp | 0.51% | 2,020,000 | $37.8M | New |
| CFG Citizens Financial Group | 0.43% | 600,000 | $31.9M | New |
| CMA Comerica Inc. | 0.43% | 462,500 | $31.7M | New |
| XYZ Block Inc. | 0.36% | 370,000 | $26.7M | Reduce -42.4% |
| MPLX MPLX LP | 0.36% | 535,000 | $26.7M | Reduce -7.5% |
| DAL Delta Air Lines Inc. | 0.36% | 462,500 | $26.2M | Reduce -15.9% |
| OC Owens Corning | 0.31% | 161,500 | $22.8M | New |
| MHK Mohawk Industries Inc. | 0.28% | 161,500 | $20.8M | Add +148.5% |
| WAL Western Alliance Bancorp | 0.23% | 195,000 | $16.9M | New |
| ZION Zions Bancorp NA | 0.22% | 285,000 | $16.1M | New |
Portfolio Sells Q2 2025 → Q3 2025
| UNH Unitedhealth Group Inc. | Reduce -91.7% | 0.95% | −10.90 |
| INTC Intel Corp. | Sold out | 0.00% | −2.78 |
| VST Vistra Corp. | Reduce -30.8% | 3.30% | −2.11 |
| AMZN Amazon.com Inc. | Reduce -7.4% | 7.43% | −1.75 |
| META Meta Platforms Inc. Class A | Reduce -7.5% | 3.68% | −0.90 |
| NRG NRG Energy Inc. | Reduce -5.6% | 4.10% | −0.83 |
| UBER Uber Technologies Inc. | Reduce -12.5% | 3.19% | −0.78 |
| MSFT Microsoft Corp. | Reduce -7.5% | 3.24% | −0.61 |
| JD Jd.com Inc.-ADR | Reduce -11.1% | 2.95% | −0.59 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.51 |
| MU Micron Technology Inc. | Reduce -39.4% | 1.13% | −0.44 |
| BEKE Ke Holdings Inc.-ADR | Sold out | 0.00% | −0.41 |
| XYZ Block Inc. | Reduce -42.4% | 0.36% | −0.31 |
| LYFT LYFT Inc. Class A | Reduce -30.0% | 1.67% | −0.29 |
| RTX RTX Corp. | Reduce -12.9% | 1.15% | −0.17 |
| LHX L3HARRIS Technologies Inc. | Reduce -14.3% | 1.24% | −0.12 |
| MPLX MPLX LP | Reduce -7.5% | 0.36% | −0.10 |
| UAL United Airlines Holdings Inc. | Reduce -15.9% | 0.60% | −0.07 |
| DAL Delta Air Lines Inc. | Reduce -15.9% | 0.36% | −0.06 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -8.6% | 0.84% | −0.03 |
| PDD PDD Holdings Inc. | Reduce -10.0% | 3.22% | −0.02 |
| IQV Iqvia Holdings Inc. | Reduce -5.0% | 0.73% | +0.00 |
| DB Deutsche Bank AG-Registered | Reduce -5.3% | 1.82% | +0.00 |
| LRCX Lam Research Corp. | Reduce -7.5% | 0.67% | +0.07 |
| GLW Corning Inc. | Reduce -7.1% | 1.81% | +0.38 |
| GOOG Alphabet Inc. Class C | Reduce -7.5% | 4.58% | +0.45 |
| BABA Alibaba Group Holding-SP ADR | Reduce -8.7% | 15.61% | +3.18 |
Portfolio Buys Q2 2025 → Q3 2025
| WHR Whirlpool Corp. | Add +1967.0% | 5.85% | +5.44 |
| AMD Advanced Micro Devices | New | 2.08% | +2.08 |
| KWEB Kranesh Csi China Internet | Add +85.0% | 4.21% | +2.08 |
| QCOM Qualcomm Inc. | Add +255.7% | 2.81% | +1.94 |
| FISV Fiserv Inc. | New | 1.62% | +1.62 |
| AAL American Airlines Group Inc. | New | 1.41% | +1.41 |
| BIDU Baidu Inc. - Spon ADR | Add +67.2% | 1.86% | +1.03 |
| TFC Truist Financial Corp. | New | 0.86% | +0.86 |
| NVDA Nvidia Corp. | Add +8.6% | 4.80% | +0.51 |
| KEY Keycorp | New | 0.51% | +0.51 |
| CFG Citizens Financial Group | New | 0.43% | +0.43 |
| CMA Comerica Inc. | New | 0.43% | +0.43 |
| TSM Taiwan Semiconductor-SP ADR | Add +3.4% | 4.01% | +0.41 |
| GT Goodyear Tire & Rubber Co. | Add +496.4% | 0.52% | +0.38 |
| OC Owens Corning | New | 0.31% | +0.31 |
| WAL Western Alliance Bancorp | New | 0.23% | +0.23 |
| ZION Zions Bancorp NA | New | 0.22% | +0.22 |
| MHK Mohawk Industries Inc. | Add +148.5% | 0.28% | +0.18 |
| FXI iShares China Large-Cap ETF | Add +11.0% | 0.62% | +0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 25 | $7.5B | AMZN, MU, TSM, GOOG, UBER |
| Q1 2026 | 31 | $5.9B | AMZN, MU, GOOG, UBER, TSM |
| Q4 2025 | 38 | $6.9B | BABA, GOOG, AMZN, MU, META |
| Q3 2025 | 45 | $7.4B | BABA, AMZN, WHR, NVDA, GOOG |
| Q2 2025 | 38 | $6.4B | BABA, UNH, AMZN, VST, NRG |
| Q1 2025 | 33 | $5.5B | BABA, PDD, AMZN, JD, META |
| Q4 2024 | 35 | $6.4B | BABA, AMZN, PDD, MSFT, VST |
| Q3 2024 | 36 | $6.7B | BABA, PDD, AMZN, MSFT, META |
| Q2 2024 | 35 | $6.1B | BABA, AMZN, MSFT, META, GOOG |
| Q1 2024 | 36 | $6.7B | BABA, AMZN, MSFT, META, NVDA |