Appaloosa 13F, Q3 2025
David Tepper · quarter ending 30 September 2025 · filed 13 November 2025 · SEC CIK 1656456
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
The 25 largest of 45 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| ALIBABA GROUP HLDG LTD | BABA | $1.15B | 15.6% | -9% shares |
| AMAZON COM INC | AMZN | $548.92M | 7.4% | -7% shares |
| WHIRLPOOL CORP | WHR | $432.30M | 5.8% | +1967% shares |
| NVIDIA CORPORATION | NVDA | $354.50M | 4.8% | +9% shares |
| ALPHABET INC | GOOG | $337.93M | 4.6% | -8% shares |
| KRANESHARES TRUST | KWEB | $310.87M | 4.2% | +85% shares |
| NRG ENERGY INC | NRG | $302.85M | 4.1% | -6% shares |
| TAIWAN SEMICONDUCTOR MFG LTD | TSM | $296.05M | 4.0% | +3% shares |
| META PLATFORMS INC | META | $271.72M | 3.7% | -8% shares |
| VISTRA CORP | VST | $243.92M | 3.3% | -31% shares |
| MICROSOFT CORP | MSFT | $239.55M | 3.2% | -8% shares |
| PDD HOLDINGS INC | PDD | $237.91M | 3.2% | -10% shares |
| UBER TECHNOLOGIES INC | UBER | $235.81M | 3.2% | -13% shares |
| JD.COM INC | JD | $217.75M | 3.0% | -11% shares |
| QUALCOMM INC | QCOM | $207.12M | 2.8% | +256% shares |
| ADVANCED MICRO DEVICES INC | AMD | $153.70M | 2.1% | new |
| BAIDU INC | BIDU | $137.70M | 1.9% | +67% shares |
| DEUTSCHE BANK A G | $134.20M | 1.8% | -5% shares | |
| CORNING INC | GLW | $133.30M | 1.8% | -7% shares |
| LYFT INC | LYFT | $123.26M | 1.7% | -30% shares |
| FISERV INC | FISV | $119.26M | 1.6% | new |
| AMERICAN AIRLS GROUP INC | AAL | $103.97M | 1.4% | new |
| L3HARRIS TECHNOLOGIES INC | LHX | $91.62M | 1.2% | -14% shares |
| RTX CORPORATION | RTX | $85.25M | 1.1% | -13% shares |
| ENERGY TRANSFER L P | ET | $85.07M | 1.1% | unchanged |
What changed since Q2 2025
Against the Q2 2025 filing, Appaloosa opened 10 new positions, added to 9, trimmed 24, left 2 unchanged and exited 3. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001656456-25-000007, filed by Appaloosa LP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.