David Tepper - Appaloosa Management 13F Activity & Position Changes (Q1 2025)

According to the SEC 13F filed on May 15, 2025, the Appaloosa Management portfolio showed several notable changes in holdings as of quarter-end Mar 31, 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 Q1 2025, the filing reported:

New Buys - Broadcom Inc., Deutsche Bank, L3Harris Technologies, Inc., Block, Inc.

Increases - Energy Transfer LP, Corning Incorporated, Alphabet Inc., Meta Platforms, Inc., NRG Energy, Inc., and 3 more

Reductions - Amazon.com, Inc., ASML, Alibaba Group Holding Limited, KE Holdings Inc, Baidu, Inc., and 15 more

Complete Exits - Advanced Micro Devices, Inc., Antero Resources Corporation, , EQT Corporation, FedEx Corporation, and 1 more

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
Q1 2025	AMD Advanced Micro Devices, Inc.	Advanced Micro Devices, Inc.	Sell - Position Exit	-1,200,000	-100.0%	$0.00	-
Q1 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-90,000	-3.5%	$477.55M	2,510,000
Q1 2025	AR Antero Resources Corporation	Antero Resources Corporation	Sell - Position Exit	-840,000	-100.0%	$0.00	-
Q1 2025	ASML ASML	ASML	Sell	-90,000	-56.2%	$46.38M	70,000
Q1 2025	AVGO Broadcom Inc.	Broadcom Inc.	Buy - Position Entry	+130,000	-	$21.77M	130,000
Q1 2025	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Sell	-2,613,158	-22.1%	$1.22B	9,230,000
Q1 2025	BEKE KE Holdings Inc	KE Holdings Inc	Sell	-674,074	-26.2%	$38.17M	1,900,000
Q1 2025	BIDU Baidu, Inc.	Baidu, Inc.	Sell	-752,909	-49.3%	$71.32M	775,000
Q1 2025	CHK		Sell - Position Exit	-295,000	-100.0%	$0.00	-
Q1 2025	CHKEL		Sell	-84,602	-56.4%	$6.46M	65,398
Q1 2025	DB Deutsche Bank	Deutsche Bank	Buy - Position Entry	+3,750,000	-	$89.36M	3,750,000
Q1 2025	EQT EQT Corporation	EQT Corporation	Sell - Position Exit	-800,000	-100.0%	$0.00	-
Q1 2025	ET Energy Transfer LP	Energy Transfer LP	Buy	+42,500	+0.9%	$92.15M	4,957,235
Q1 2025	FDX FedEx Corporation	FedEx Corporation	Sell - Position Exit	-350,000	-100.0%	$0.00	-
Q1 2025	FXI iShares China Large-Cap ETF	iShares China Large-Cap ETF	Sell	-1,037,128	-15.6%	$200.70M	5,600,000
Q1 2025	GLW Corning Incorporated	Corning Incorporated	Buy	+243,629	+16.2%	$79.82M	1,743,629
Q1 2025	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+128,037	+6.8%	$314.02M	2,010,000
Q1 2025	INTC Intel Corporation	Intel Corporation	Sell - Position Exit	-1,000,000	-100.0%	$0.00	-
Q1 2025	JD JD.com, Inc.	JD.com, Inc.	Sell	-2,415,885	-23.1%	$331.02M	8,050,000
Q1 2025	KWEB KraneShares Trust KraneShares C	KraneShares Trust KraneShares C	Sell	-575,695	-12.6%	$139.64M	4,000,000
Q1 2025	LHX L3Harris Technologies, Inc.	L3Harris Technologies, Inc.	Buy - Position Entry	+300,000	-	$62.79M	300,000
Q1 2025	LRCX Lam Research Corporation	Lam Research Corporation	Sell	-750,000	-60.0%	$36.35M	500,000
Q1 2025	LVS Las Vegas Sands Corp.	Las Vegas Sands Corp.	Sell	-310,000	-34.4%	$22.79M	590,000
Q1 2025	LYFT Lyft, Inc.	Lyft, Inc.	Sell	-4,500,000	-33.3%	$106.83M	9,000,000
Q1 2025	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+60,000	+12.2%	$317.00M	550,000
Q1 2025	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-460,000	-47.4%	$191.45M	510,000
Q1 2025	MU Micron Technology, Inc.	Micron Technology, Inc.	Sell	-800,000	-66.7%	$34.76M	400,000
Q1 2025	NRG NRG Energy, Inc.	NRG Energy, Inc.	Buy	+235,000	+12.9%	$195.69M	2,050,000
Q1 2025	NVDA NVIDIA Corporation	NVIDIA Corporation	Sell	-380,001	-55.9%	$32.51M	300,000
Q1 2025	ORCL Oracle Corporation	Oracle Corporation	Sell	-700,000	-50.0%	$97.87M	700,000

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