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David Tepper

David Tepper Appaloosa LP

AUM $5.93B
1-Year Est. Return 44.55%
 

David Tepper, founder of Appaloosa Management, is a billionaire hedge fund manager renowned for his expertise in distressed debt investing and contrarian bets. He is known for high-risk, high-reward strategies that have generated significant returns, such as investing in struggling banks during the 2008 financial crisis. His investment philosophy emphasizes deep value analysis, understanding market psychology, and making high-conviction decisions, often going against prevailing sentiment.

This Fund
S&P 500
This Quarter Est. Return
+11.37%
1 Year Est. Return
+44.55%
3 Year Est. Return
+188.72%
5 Year Est. Return
+296.74%
10 Year Est. Return
+1,042.31%
AUM
$6.45B
AUM Growth
-$1.93B
Cap. Flow
-$2.33B
Cap. Flow %
-36.13%
Top 10 Hldgs %
64.63%
Holding
46
New
8
Increased
9
Reduced
16
Closed
8

Top Buys

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$869M
2
NVDA icon
NVIDIA
NVDA
+$182M
3
INTC icon
Intel
INTC
+$166M
4
TSM icon
TSMC
TSM
+$140M
5
RTX icon
RTX Corp
RTX
+$77.9M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$256M
2
PDD icon
Pinduoduo
PDD
+$249M
3
FXI icon
iShares China Large-Cap ETF
FXI
+$161M
4
META icon
Meta Platforms (Facebook)
META
+$92.7M
5
ORCL icon
Oracle
ORCL
+$88.8M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 29.99%
2 Technology 26.98%
3 Healthcare 12.59%
4 Utilities 10.34%
5 Communication Services 9.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BIDU icon
26
Baidu
BIDU
$35.9B
$53.6M 0.83%
625,000
-150,000
-19% -$12.9M
IQV icon
27
IQVIA
IQV
$40.1B
$47.3M 0.73%
+300,000
New +$45.2M
UAL icon
28
United Airlines
UAL
$41B
$43.8M 0.68%
+550,000
New +$40.5M
XYZ
29
Block Inc
XYZ
$47.5B
$43.6M 0.68%
641,800
+566,800
+756% +$33M
LRCX icon
30
Lam Research
LRCX
$390B
$38.9M 0.6%
400,000
-100,000
-20% -$7.93M
FXI icon
31
iShares China Large-Cap ETF
FXI
$4.25B
$36.8M 0.57%
1,000,000
-4,600,000
-82% -$161M
ORCL icon
32
Oracle
ORCL
$419B
$32.8M 0.51%
150,000
-550,000
-79% -$88.8M
MPLX icon
33
MPLX
MPLX
$60.1B
$29.8M 0.46%
578,500
– –
DAL icon
34
Delta Air Lines
DAL
$59.5B
$27M 0.42%
+550,000
New +$25.3M
WHR icon
35
Whirlpool
WHR
$2.84B
$27M 0.42%
+266,092
New +$22.1M
BEKE icon
36
KE Holdings
BEKE
$18.7B
$26.6M 0.41%
1,500,000
-400,000
-21% -$7.69M
GT icon
37
Goodyear
GT
$1.75B
$8.94M 0.14%
+861,782
New +$9.13M
MHK icon
38
Mohawk Industries
MHK
$9.26B
$6.81M 0.11%
+65,000
New +$6.78M
AAPL icon
39
PUT
Apple
AAPL
$4.45T
– –
-1,250,000
Closed -$278M
AVGO icon
40
Broadcom
AVGO
$1.98T
– –
-130,000
Closed -$21.8M
LVS icon
41
Las Vegas Sands
LVS
$29.6B
– –
-590,000
Closed -$22.8M
SMH icon
42
PUT
VanEck Semiconductor ETF
SMH
$70.6B
– –
-100,000
Closed -$21.1M
SPYX icon
43
PUT
State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF
SPYX
$2.86B
– –
-4,500,000
Closed -$2.52B
WYNN icon
44
Wynn Resorts
WYNN
$10.8B
– –
-320,000
Closed -$26.7M
EXEEL
45
DELISTED
Expand Energy Corp Class C Warrants
EXEEL
– –
-65,398
Closed -$6.46M
EXEEZ
46
DELISTED
Expand Energy Corp Class B Warrants
EXEEZ
– –
-117,321
Closed -$12.3M
1
2

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David Tepper's Q2 2025 Portfolio in Review

As of Q2 2025, David Tepper held 46 positions worth $6.45B, down 23% from $8.38B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

David Tepper withdrew a net $2.33B in Q2 2025, closing 8 positions and reducing 16 holdings. Its most notable exit was Wynn Resorts, an estimated $26.7M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 30% of assets, down from 32% a quarter earlier, followed by Technology and Healthcare.

Against the trend, David Tepper opened a new position in Intel worth $179M.

  • David Tepper's largest Q2 2025 buy was Intel: 8,000,000 shares worth $179M.
  • David Tepper added most to UnitedHealth in Q2 2025, an estimated $869M increase.
  • David Tepper's biggest Q2 2025 reduction was Alibaba, cutting an estimated $256M.
  • David Tepper fully exited Wynn Resorts in Q2 2025, selling an estimated $26.7M.
  • David Tepper's ten largest holdings make up 65% of its $6.45B portfolio in Q2 2025.
  • David Tepper opened 8 new positions and closed 8 in Q2 2025.
  • David Tepper's portfolio value fell 23% quarter-over-quarter to $6.45B.

Based on Appaloosa LP's 13F filing for Q2 2025, filed 14 Aug 2025.