David Tepper – Appaloosa Management Portfolio Activity & Recent Trades (Sep 30, 2025)
As of Sep 30, 2025, the Appaloosa Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 13, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.
During Q3 2025, the filing reported:
New Buys – American Airlines Group, Inc., Advanced Micro Devices, Inc., Citizens Financial Group, Inc., Comerica Incorporated, Fiserv, Inc., and 5 more
Increases – Baidu, Inc., iShares China Large-Cap ETF, The Goodyear Tire & Rubber Comp, KraneShares Trust KraneShares C, Mohawk Industries, Inc., and 4 more
Reductions – Amazon.com, Inc., ASML, Alibaba Group Holding Limited, Delta Air Lines, Inc., Deutsche Bank, and 19 more
Complete Exits – KE Holdings Inc, Intel Corporation, Oracle Corporation
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
| Date | Symbol | Name | Type | Change Qty | % Change | Value | Remaining |
|---|---|---|---|---|---|---|---|
Q3 2025 | AAL American Airlines Group, Inc. | American Airlines Group, Inc. | Buy - Position Entry | +9,250,000 | - | $103.97M | 9,250,000 |
Q3 2025 | AMD Advanced Micro Devices, Inc. | Advanced Micro Devices, Inc. | Buy - Position Entry | +950,000 | - | $153.70M | 950,000 |
Q3 2025 | AMZN Amazon.com, Inc. | Amazon.com, Inc. | Sell | -200,000 | -7.4% | $548.92M | 2,500,000 |
Q3 2025 | ASML ASML | ASML | Sell | -6,000 | -8.6% | $61.96M | 64,000 |
Q3 2025 | BABA Alibaba Group Holding Limited | Alibaba Group Holding Limited | Sell | -617,271 | -8.7% | $1.15B | 6,450,000 |
Q3 2025 | BEKE KE Holdings Inc | KE Holdings Inc | Sell - Position Exit | -1,500,000 | -100.0% | $0.00 | - |
Q3 2025 | BIDU Baidu, Inc. | Baidu, Inc. | Buy | +420,000 | +67.2% | $137.70M | 1,045,000 |
Q3 2025 | CFG Citizens Financial Group, Inc. | Citizens Financial Group, Inc. | Buy - Position Entry | +600,000 | - | $31.90M | 600,000 |
Q3 2025 | CMA Comerica Incorporated | Comerica Incorporated | Buy - Position Entry | +462,500 | - | $31.69M | 462,500 |
Q3 2025 | DAL Delta Air Lines, Inc. | Delta Air Lines, Inc. | Sell | -87,500 | -15.9% | $26.25M | 462,500 |
Q3 2025 | DB Deutsche Bank | Deutsche Bank | Sell | -210,000 | -5.3% | $134.20M | 3,790,000 |
Q3 2025 | FI Fiserv, Inc. | Fiserv, Inc. | Buy - Position Entry | +925,000 | - | $119.26M | 925,000 |
Q3 2025 | FXI iShares China Large-Cap ETF | iShares China Large-Cap ETF | Buy | +110,000 | +11.0% | $45.67M | 1,110,000 |
Q3 2025 | GLW Corning Incorporated | Corning Incorporated | Sell | -125,000 | -7.1% | $133.30M | 1,625,000 |
Q3 2025 | GOOG Alphabet Inc. | Alphabet Inc. | Sell | -112,500 | -7.5% | $337.93M | 1,387,500 |
Q3 2025 | GT The Goodyear Tire & Rubber Comp | The Goodyear Tire & Rubber Comp | Buy | +4,278,218 | +496.4% | $38.45M | 5,140,000 |
Q3 2025 | INTC Intel Corporation | Intel Corporation | Sell - Position Exit | -8,000,000 | -100.0% | $0.00 | - |
Q3 2025 | IQV IQVIA Holdings, Inc. | IQVIA Holdings, Inc. | Sell | -15,000 | -5.0% | $54.13M | 285,000 |
Q3 2025 | JD JD.com, Inc. | JD.com, Inc. | Sell | -775,000 | -11.1% | $217.75M | 6,225,000 |
Q3 2025 | KEY KeyCorp | KeyCorp | Buy - Position Entry | +2,020,000 | - | $37.75M | 2,020,000 |
Q3 2025 | KWEB KraneShares Trust KraneShares C | KraneShares Trust KraneShares C | Buy | +3,400,000 | +85.0% | $310.87M | 7,400,000 |
Q3 2025 | LHX L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | Sell | -50,000 | -14.3% | $91.62M | 300,000 |
Q3 2025 | LRCX Lam Research Corporation | Lam Research Corporation | Sell | -30,000 | -7.5% | $49.54M | 370,000 |
Q3 2025 | LYFT Lyft, Inc. | Lyft, Inc. | Sell | -2,400,000 | -30.0% | $123.26M | 5,600,000 |
Q3 2025 | META Meta Platforms, Inc. | Meta Platforms, Inc. | Sell | -30,000 | -7.5% | $271.72M | 370,000 |
Q3 2025 | MHK Mohawk Industries, Inc. | Mohawk Industries, Inc. | Buy | +96,500 | +148.5% | $20.82M | 161,500 |
Q3 2025 | MPLX MPLX LP | MPLX LP | Sell | -43,500 | -7.5% | $26.72M | 535,000 |
Q3 2025 | MSFT Microsoft Corporation | Microsoft Corporation | Sell | -37,500 | -7.5% | $239.55M | 462,500 |
Q3 2025 | MU Micron Technology, Inc. | Micron Technology, Inc. | Sell | -325,000 | -39.4% | $83.66M | 500,000 |
Q3 2025 | NRG NRG Energy, Inc. | NRG Energy, Inc. | Sell | -110,000 | -5.6% | $302.85M | 1,870,000 |