David Tepper – Appaloosa Management Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Appaloosa Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 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 Q2 2025, the filing reported:

New Buys – Intel Corporation (INTC), The Goodyear Tire & Rubber Comp (GT), RTX Corporation (RTX), United Airlines Holdings, Inc. (UAL), Delta Air Lines, Inc. (DAL), and 3 more

Increases – UnitedHealth Group Incorporated (UNH), NVIDIA Corporation (NVDA), Taiwan Semiconductor Manufactur (TSM), Block, Inc. (SQ), Micron Technology, Inc. (MU), and 4 more

Reductions – Microsoft Corporation (MSFT), NRG Energy, Inc. (NRG), Caesars Entertainment, Inc. (CZR), Lam Research (LRCX), Baidu, Inc. (BIDU), and 11 more

Complete Exits – null (CHKEL), Broadcom Inc. (AVGO), Wynn Resorts, Limited (WYNN), Las Vegas Sands Corp. (LVS)

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Appaloosa Management Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q4 2021Dec 31, 2021	DKS Dick's Sporting Goods Inc	Dick's Sporting Goods Inc	Buy - Position Entry	+178,072	$20.48K	178,072
Q4 2021Dec 31, 2021	FL Foot Locker, Inc.	Foot Locker, Inc.	Buy - Position Entry	+165,938	$7.24K	165,938
Q4 2021Dec 31, 2021	KSS Kohl's Corporation	Kohl's Corporation	Buy	+150,000+10.0%	$81.49K	1,650,000
Q4 2021Dec 31, 2021	MOS Mosaic Company (The)	Mosaic Company (The)	Buy	+25,000+1.1%	$94.30K	2,400,000
Q4 2021Dec 31, 2021	XOP SPDR S&P Oil & Gas Explor & Pro	SPDR S&P Oil & Gas Explor & Pro	Sell	-10,000-1.0%	$95.87K	1,000,000
Q4 2021Dec 31, 2021	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-12,000-8.2%	$390.63K	135,000
Q4 2021Dec 31, 2021	CHK		Sell	-24,000-5.7%	$25.81K	400,000
Q4 2021Dec 31, 2021	OXY Occidental Petroleum Corporatio	Occidental Petroleum Corporatio	Sell	-40,000-0.6%	$191.33K	6,600,000
Q4 2021Dec 31, 2021	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-42,500-3.7%	$369.99K	1,100,000
Q4 2021Dec 31, 2021	GT The Goodyear Tire & Rubber Comp	The Goodyear Tire & Rubber Comp	Sell	-50,000-1.0%	$109.80K	5,150,000
Q4 2021Dec 31, 2021	FCX Freeport-McMoRan, Inc.	Freeport-McMoRan, Inc.	Sell	-50,000-2.6%	$77.20K	1,850,000
Q4 2021Dec 31, 2021	XLE SPDR Select Sector Fund - Energ	SPDR Select Sector Fund - Energ	Sell	-60,000-2.7%	$119.33K	2,150,000
Q4 2021Dec 31, 2021	PHM PulteGroup, Inc.	PulteGroup, Inc.	Sell	-90,000-5.8%	$82.88K	1,450,000
Q4 2021Dec 31, 2021	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Sell	-95,000-7.9%	$119.30K	1,100,000
Q4 2021Dec 31, 2021	WMT Walmart Inc.	Walmart Inc.	Sell - Position Exit	-100,000-100.0%	$0.00	-
Q4 2021Dec 31, 2021	OVV Ovintiv Inc. (DE)	Ovintiv Inc. (DE)	Sell - Position Exit	-125,000-100.0%	$0.00	-
Q4 2021Dec 31, 2021	MA Mastercard Incorporated	Mastercard Incorporated	Sell - Position Exit	-132,000-100.0%	$0.00	-
Q4 2021Dec 31, 2021	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Sell	-143,883-46.6%	$10.99K	165,117
Q4 2021Dec 31, 2021	V Visa Inc.	Visa Inc.	Sell - Position Exit	-262,500-100.0%	$0.00	-
Q4 2021Dec 31, 2021	HCA HCA Healthcare, Inc.	HCA Healthcare, Inc.	Sell - Position Exit	-387,000-100.0%	$0.00	-
Q4 2021Dec 31, 2021	QCOM QUALCOMM Incorporated	QUALCOMM Incorporated	Sell - Position Exit	-490,000-100.0%	$0.00	-
Q4 2021Dec 31, 2021	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Sell - Position Exit	-525,000-100.0%	$0.00	-
Q4 2021Dec 31, 2021	PCG Pacific Gas & Electric Co.	Pacific Gas & Electric Co.	Sell	-875,000-6.5%	$151.75K	12,500,000
Q4 2021Dec 31, 2021	TMUS T-Mobile US, Inc.	T-Mobile US, Inc.	Sell	-1,269,008-49.9%	$147.99K	1,275,992
Q4 2021Dec 31, 2021	UBER Uber Technologies, Inc.	Uber Technologies, Inc.	Sell	-1,725,500-88.5%	$9.43K	225,000
Q4 2021Dec 31, 2021	ETWO E2open Parent Holdings, Inc.	E2open Parent Holdings, Inc.	Sell - Position Exit	-2,500,000-100.0%	$0.00	-
Q4 2021Dec 31, 2021	ALIT Alight, Inc.	Alight, Inc.	Sell	-3,705,205-46.3%	$46.43K	4,294,795
Q3 2021Sep 30, 2021	ALIT Alight, Inc.	Alight, Inc.	Buy - Position Entry	+8,000,000	$91.84K	8,000,000
Q3 2021Sep 30, 2021	M Macy's Inc	Macy's Inc	Buy	+3,390,000+93.9%	$158.20K	7,000,000
Q3 2021Sep 30, 2021	GT The Goodyear Tire & Rubber Comp	The Goodyear Tire & Rubber Comp	Buy	+2,035,000+64.3%	$92.04K	5,200,000

Page 16 of 44 • 1295 total trades

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