Appaloosa 13F, Q4 2025
David Tepper · quarter ending 31 December 2025 · filed 17 February 2026 · SEC CIK 1656456
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 1 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q4 2025
The 25 largest of 38 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| ALIBABA GROUP HLDG LTD | BABA | $753.12M | 11.0% | -20% shares |
| ALPHABET INC | GOOG | $560.74M | 8.2% | +29% shares |
| AMAZON COM INC | AMZN | $503.05M | 7.3% | -13% shares |
| MICRON TECHNOLOGY INC | MU | $428.12M | 6.3% | +200% shares |
| META PLATFORMS INC | META | $396.05M | 5.8% | +62% shares |
| TAIWAN SEMICONDUCTOR MFG LTD | TSM | $343.40M | 5.0% | +7% shares |
| NVIDIA CORPORATION | NVDA | $317.05M | 4.6% | -11% shares |
| WHIRLPOOL CORP | WHR | $282.07M | 4.1% | -29% shares |
| NRG ENERGY INC | NRG | $261.15M | 3.8% | -12% shares |
| MICROSOFT CORP | MSFT | $241.81M | 3.5% | +8% shares |
| AMERICAN AIRLS GROUP INC | AAL | $216.92M | 3.2% | +53% shares |
| PDD HOLDINGS INC | PDD | $201.27M | 2.9% | unchanged |
| QUALCOMM INC | QCOM | $195.85M | 2.9% | -8% shares |
| ISHARES INC | EWY | $182.29M | 2.7% | new |
| KRANESHARES TRUST | KWEB | $161.74M | 2.4% | -36% shares |
| VISTRA CORP | VST | $152.46M | 2.2% | -24% shares |
| UBER TECHNOLOGIES INC | UBER | $151.16M | 2.2% | -23% shares |
| CORNING INC | GLW | $137.49M | 2.0% | -3% shares |
| DEUTSCHE BANK A G | $121.46M | 1.8% | -17% shares | |
| JD.COM INC | JD | $119.31M | 1.7% | -33% shares |
| OWENS CORNING NEW | OC | $106.31M | 1.6% | +488% shares |
| RTX CORPORATION | RTX | $91.70M | 1.3% | unchanged |
| L3HARRIS TECHNOLOGIES INC | LHX | $86.60M | 1.3% | unchanged |
| BAIDU INC | BIDU | $75.13M | 1.1% | -45% shares |
| MOHAWK INDS INC | MHK | $73.78M | 1.1% | +318% shares |
What changed since Q3 2025
Against the Q3 2025 filing, Appaloosa opened 2 new positions, added to 11, trimmed 19, left 6 unchanged and exited 9. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- EWY$182.29M
- BALL$63.56M
Exited
- FISVwas $119.26M
- TFCwas $63.44M
- CZRwas $56.75M
- KEYwas $37.75M
- CFGwas $31.90M
- CMAwas $31.69M
- XYZwas $26.74M
- WALwas $16.91M
and 1 more
Other quarters
Source: SEC Form 13F-HR, accession 0001656456-26-000001, 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.