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
Q2 2021Jun 30, 2021	QCOM QUALCOMM Incorporated	QUALCOMM Incorporated	Sell	-237,000-31.6%	$73.32K	513,000
Q2 2021Jun 30, 2021	KMX CarMax Inc	CarMax Inc	Sell	-239,300-36.6%	$53.60K	415,000
Q2 2021Jun 30, 2021	SYY Sysco Corporation	Sysco Corporation	Sell	-277,500-24.0%	$68.42K	880,000
Q2 2021Jun 30, 2021	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell - Position Exit	-345,000-100.0%	$0.00	-
Q2 2021Jun 30, 2021	WES Western Midstream Partners, LP	Western Midstream Partners, LP	Sell	-349,766-37.3%	$12.58K	587,196
Q2 2021Jun 30, 2021	KSS Kohl's Corporation	Kohl's Corporation	Sell	-372,500-23.5%	$66.96K	1,215,000
Q2 2021Jun 30, 2021	CRM Salesforce, Inc.	Salesforce, Inc.	Sell - Position Exit	-385,000-100.0%	$0.00	-
Q2 2021Jun 30, 2021	MPLX MPLX LP	MPLX LP	Sell	-394,015-41.9%	$16.20K	547,006
Q2 2021Jun 30, 2021	HCA HCA Healthcare, Inc.	HCA Healthcare, Inc.	Sell	-545,000-57.4%	$83.73K	405,000
Q2 2021Jun 30, 2021	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Sell	-555,000-48.7%	$132.67K	585,000
Q2 2021Jun 30, 2021	BP BP p.l.c.	BP p.l.c.	Sell	-575,000-59.0%	$10.57K	400,000
Q2 2021Jun 30, 2021	XOP SPDR S&P Oil & Gas Explor & Pro	SPDR S&P Oil & Gas Explor & Pro	Sell	-607,500-44.4%	$73.48K	760,000
Q2 2021Jun 30, 2021	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-615,000-33.8%	$418.99K	1,205,000
Q2 2021Jun 30, 2021	APA APA Corporation	APA Corporation	Sell	-645,000-42.9%	$18.60K	860,000
Q2 2021Jun 30, 2021	AMLP Alerian MLP ETF	Alerian MLP ETF	Sell	-758,843-38.4%	$44.24K	1,215,000
Q2 2021Jun 30, 2021	EQT EQT Corporation	EQT Corporation	Sell	-967,085-47.6%	$23.71K	1,065,000
Q2 2021Jun 30, 2021	EPD Enterprise Products Partners L.	Enterprise Products Partners L.	Sell	-1,173,468-36.3%	$49.77K	2,062,373
Q2 2021Jun 30, 2021	AR Antero Resources Corporation	Antero Resources Corporation	Sell	-1,180,000-39.9%	$26.75K	1,780,000
Q2 2021Jun 30, 2021	GT The Goodyear Tire & Rubber Comp	The Goodyear Tire & Rubber Comp	Sell	-1,458,867-31.6%	$54.28K	3,165,000
Q2 2021Jun 30, 2021	MU Micron Technology, Inc.	Micron Technology, Inc.	Sell	-1,622,309-22.3%	$480.37K	5,652,691
Q2 2021Jun 30, 2021	IQ iQIYI, Inc.	iQIYI, Inc.	Sell - Position Exit	-1,644,934-100.0%	$0.00	-
Q2 2021Jun 30, 2021	M Macy's Inc	Macy's Inc	Sell	-1,662,500-31.5%	$68.45K	3,610,000
Q2 2021Jun 30, 2021	TMUS T-Mobile US, Inc.	T-Mobile US, Inc.	Sell	-1,670,000-39.9%	$364.97K	2,520,000
Q2 2021Jun 30, 2021	PARA Paramount Global	Paramount Global	Sell	-1,970,000-57.2%	$66.67K	1,475,000
Q2 2021Jun 30, 2021	XLE SPDR Select Sector Fund - Energ	SPDR Select Sector Fund - Energ	Sell	-1,997,500-46.2%	$125.25K	2,325,000
Q2 2021Jun 30, 2021	OXY Occidental Petroleum Corporatio	Occidental Petroleum Corporatio	Sell	-2,685,000-32.0%	$178.55K	5,710,000
Q2 2021Jun 30, 2021	CHK		Sell	-3,202,782-85.9%	$27.30K	525,903
Q2 2021Jun 30, 2021	ET Energy Transfer LP	Energy Transfer LP	Sell	-12,190,408-53.4%	$113.00K	10,629,920
Q2 2021Jun 30, 2021	PCG Pacific Gas & Electric Co.	Pacific Gas & Electric Co.	Sell	-12,302,498-43.0%	$165.75K	16,298,159
Q1 2021Mar 31, 2021	CHK		Buy - Position Entry	+3,728,685	$161.79K	3,728,685

Page 19 of 44 • 1295 total trades

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