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 2018Jun 30, 2018	AMAT Applied Materials, Inc.	Applied Materials, Inc.	Sell - Position Exit	-1,570,000-100.0%	$0.00	-
Q2 2018Jun 30, 2018	ALLY Ally Financial Inc.	Ally Financial Inc.	Sell	-3,130,152-39.4%	$126.57K	4,817,993
Q2 2018Jun 30, 2018	MGM MGM Resorts International	MGM Resorts International	Sell	-3,276,000-80.5%	$23.04K	793,504
Q2 2018Jun 30, 2018	BAC Bank of America Corporation	Bank of America Corporation	Sell	-3,721,818-33.9%	$204.20K	7,243,695
Q2 2018Jun 30, 2018	NRG NRG Energy, Inc.	NRG Energy, Inc.	Sell	-4,162,161-61.8%	$78.97K	2,572,442
Q1 2018Mar 31, 2018	MU Micron Technology, Inc.	Micron Technology, Inc.	Buy	+7,905,000+28.7%	$1.85M	35,405,000
Q1 2018Mar 31, 2018	UBS UBS Group	UBS Group	Buy - Position Entry	+6,955,399	$122.46K	6,955,399
Q1 2018Mar 31, 2018	WFC Wells Fargo & Company	Wells Fargo & Company	Buy - Position Entry	+2,937,615	$153.96K	2,937,615
Q1 2018Mar 31, 2018	MGM MGM Resorts International	MGM Resorts International	Buy	+1,742,738+74.9%	$142.51K	4,069,504
Q1 2018Mar 31, 2018	AMAT Applied Materials, Inc.	Applied Materials, Inc.	Buy - Position Entry	+1,570,000	$87.31K	1,570,000
Q1 2018Mar 31, 2018	BYD Boyd Gaming Corporation	Boyd Gaming Corporation	Buy - Position Entry	+1,354,896	$43.17K	1,354,896
Q1 2018Mar 31, 2018	LRCX Lam Research	Lam Research	Buy - Position Entry	+1,295,586	$263.21K	1,295,586
Q1 2018Mar 31, 2018	ET Energy Transfer LP	Energy Transfer LP	Buy	+1,230,719+24.3%	$89.40K	6,291,534
Q1 2018Mar 31, 2018	HUN Huntsman Corporation	Huntsman Corporation	Buy	+1,103,445+41.9%	$109.30K	3,736,630
Q1 2018Mar 31, 2018	KNX Knight-Swift Transportation Hol	Knight-Swift Transportation Hol	Buy - Position Entry	+950,000	$43.71K	950,000
Q1 2018Mar 31, 2018	LNG Cheniere Energy, Inc.	Cheniere Energy, Inc.	Buy	+742,696+419.5%	$49.16K	919,741
Q1 2018Mar 31, 2018	SMH VanEck Semiconductor ETF	VanEck Semiconductor ETF	Buy - Position Entry	+737,000	$76.85K	737,000
Q1 2018Mar 31, 2018	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+680,559+12.3%	$992.30K	6,210,000
Q1 2018Mar 31, 2018	BTU Peabody Energy Corporation	Peabody Energy Corporation	Buy - Position Entry	+591,424	$21.59K	591,424
Q1 2018Mar 31, 2018	UAL United Airlines Holdings, Inc.	United Airlines Holdings, Inc.	Buy - Position Entry	+525,289	$36.49K	525,289
Q1 2018Mar 31, 2018	PCG Pacific Gas & Electric Co.	Pacific Gas & Electric Co.	Buy	+520,192+46.0%	$72.48K	1,650,000
Q1 2018Mar 31, 2018	XLE SPDR Select Sector Fund - Energ	SPDR Select Sector Fund - Energ	Buy - Position Entry	+500,000	$33.70K	500,000
Q1 2018Mar 31, 2018	KMT Kennametal Inc.	Kennametal Inc.	Buy	+476,703+33.8%	$75.80K	1,887,507
Q1 2018Mar 31, 2018	CNC Centene Corporation	Centene Corporation	Buy	+465,000+61.3%	$130.78K	1,223,717
Q1 2018Mar 31, 2018	OC Owens Corning Inc	Owens Corning Inc	Buy	+428,669+43.4%	$113.90K	1,416,704
Q1 2018Mar 31, 2018	DG Dollar General Corporation	Dollar General Corporation	Buy	+390,169+47.3%	$113.64K	1,214,776
Q1 2018Mar 31, 2018	TMUS T-Mobile US, Inc.	T-Mobile US, Inc.	Buy	+292,776+7.6%	$253.32K	4,150,000
Q1 2018Mar 31, 2018	NVDA NVIDIA Corporation	NVIDIA Corporation	Buy - Position Entry	+150,000	$34.74K	150,000
Q1 2018Mar 31, 2018	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Buy	+115,000+19.4%	$151.21K	706,589
Q1 2018Mar 31, 2018	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+50,118+14.1%	$418.75K	405,847

Page 32 of 44 • 1295 total trades

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