13F filer · CIK 1656456 ↗
Appaloosa
You are looking at Q2 2025. See the latest, Q2 2026 →
Reported value
$6.45B
−23% on the quarter before
Positions
38
8 new · 8 sold out
Top 10
64.6%
of the value
Est. gain
+$1.16B
on stocks held all quarter
Est. return
+26.8%
on those stocks since Q1 2025
Positions as of Jun 30, 2025, from Appaloosa's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
Each tile is a position, sized by its share, colored by what the fund did with it since Q1 2025. Striped tiles are options.
Largest buys
Since Q1 2025, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Nvidia~$229.1MAdded · 0.4% → 4.3%+1,450,000 shares
- Intel~$179.2MNew · 0.0% → 2.8%+8,000,000 shares
- TSMC~$171.0MAdded · 0.5% → 3.6%+755,000 shares
- Rtx Corporation~$85.4MNew · 0.0% → 1.3%+585,000 shares
- Micron~$52.4MAdded · 0.4% → 1.6%+425,000 shares
- IQVIA~$47.3MNew · 0.0% → 0.7%+300,000 shares
- United Airls Hldgs Inc~$43.8MNew · 0.0% → 0.7%+550,000 shares
- Amazon~$41.7MAdded · 5.7% → 9.2%+190,000 shares
- Block~$38.5MAdded · 0.0% → 0.7%+566,800 shares
- Delta Air Lines Inc Del~$27.0MNew · 0.0% → 0.4%+550,000 shares
Largest sells
Since Q1 2025, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- SPDR Ser TrPUT~$2.52BSold out · 30.0% → 0.0%−4,500,000 underlying
- ApplePUT~$277.7MSold out · 3.3% → 0.0%−1,250,000 underlying
- PDD Holdings~$248.0MCut · 6.2% → 3.2%−2,370,000 shares
- Alibaba~$245.3MCut · 14.6% → 12.4%−2,162,729 shares
- Ishares Tr~$169.1MCut · 2.4% → 0.6%−4,600,000 shares
- Oracle~$120.2MCut · 1.2% → 0.5%−550,000 shares
- Meta~$110.7MCut · 3.8% → 4.6%−150,000 shares
- Vistra~$96.9MCut · 3.2% → 5.4%−500,000 shares
- Alphabet~$90.5MCut · 3.7% → 4.1%−510,000 shares
- Uber~$42.0MCut · 2.8% → 4.0%−450,000 shares
Holdings
As of Jun 30, 2025. Changes are in shares against Mar 31, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AlibabaSPONSORED ADS · shares −23% · price −14.2% | 12.4% | $801.5M | −$133.0M | ||||||||
| Unitedhealth Group IncCOM · shares 0% · price +733.9% | 11.9% | $764.3M | +$672.7M | ||||||||
| AmazonCOM · shares +7.6% · price +15.3% | 9.2% | $592.4M | +$73.1M | ||||||||
| VistraCOM · shares −22% · price +65.0% | 5.4% | $348.9M | +$137.5M | ||||||||
| NRG EnergyCOM NEW · shares −3.4% · price +68.2% | 4.9% | $317.9M | +$128.9M | ||||||||
| MetaCL A · shares −27% · price +28.1% | 4.6% | $295.2M | +$64.7M | ||||||||
| NvidiaCOM · shares +483% · price +45.8% | 4.3% | $276.5M | +$14.9M | ||||||||
| AlphabetCAP STK CL C · shares −25% · price +13.5% | 4.1% | $266.1M | +$31.7M | ||||||||
| UberCOM · shares −14% · price +28.1% | 4.0% | $256.6M | +$56.2M | ||||||||
| MicrosoftCOM · shares −2.0% · price +32.5% | 3.9% | $248.7M | +$61.0M | ||||||||
| TSMCSPONSORED ADS · shares +280% · price +36.4% | 3.6% | $232.2M | +$16.3M | ||||||||
| Jd.Com IncSPON ADS CL A · shares −13% · price −20.6% | 3.5% | $228.5M | −$59.4M | ||||||||
| PDD HoldingsSPONSORED ADS · shares −54% · price −11.6% | 3.2% | $209.3M | −$27.4M | ||||||||
| IntelCOM · shares New | 2.8% | $179.2M | — | ||||||||
| Kraneshares TrustCSI CHI INTERNET · shares 0% · price −1.7% | 2.1% | $137.3M | −$2.3M | ||||||||
| Lyft IncCL A COM · shares −11% · price +32.8% | 2.0% | $126.1M | +$31.1M | ||||||||
| Deutsche Bank A GNAMEN AKT · shares +6.7% · price +22.9% | 1.8% | $117.1M | +$20.4M | ||||||||
| MicronCOM · shares +106% · price +41.8% | 1.6% | $101.7M | +$14.5M | ||||||||
| Corning Inc.COM · shares +0.4% · price +14.9% | 1.4% | $92.0M | +$11.9M | ||||||||
| Energy Transfer L PCOM UT LTD PTN · shares 0% · price −2.5% | 1.4% | $89.9M | −$2.3M | ||||||||
| L3harris Technologies IncCOM · shares +17% · price +19.8% | 1.4% | $87.8M | +$12.5M | ||||||||
| Rtx CorporationCOM · shares New | 1.3% | $85.4M | — | ||||||||
| Caesars Entertainment Inc NeCOM · shares −4.5% · price +13.6% | 0.92% | $59.6M | +$7.1M | ||||||||
| Asml Holding N VN Y REGISTRY SHS · shares 0% · price +20.9% | 0.87% | $56.1M | +$9.7M | ||||||||
| QualcommCOM · shares 0% · price +3.7% | 0.86% | $55.7M | +$2.0M | ||||||||
| Total · 38 positions | 100% | $6.45B | +$1.16B |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q1 2025 to Q2 2025: 30 stocks held throughout, up $1.16B (+26.8%).
- Unitedhealth Group Inc14:1 split+$672.7M+734%
- Vistra+$137.5M+65%
- NRG Energy+$128.9M+68%
- Amazon+$73.1M+15%
- Meta+$64.7M+28%
- Ke Hldgs Inc−$3.5M−12%
- Baidu−$3.9M−7%
- PDD Holdings−$27.4M−12%
- Jd.Com Inc−$59.4M−21%
- Alibaba−$133.0M−14%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 1 split read into the share counts.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Aug 14, 2026 | $7.73B+30% | SEC ↗ |
| Q1 2026 | May 15, 2026 | $5.93B−14% | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | $6.93B−6% | SEC ↗ |
| Q3 2025 | Nov 13, 2025 | $7.38B+14% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $6.45B−23% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $8.38B+30% | SEC ↗ |
| Q4 2024 | Feb 10, 2025 | $6.46B−4% | SEC ↗ |
| Q3 2024 | Nov 14, 2024 | $6.73B+9% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $6.18B−9% | SEC ↗ |
| Q1 2024 | May 15, 2024 | $6.75B+17% | SEC ↗ |
| Q4 2023 | Feb 14, 2024 | $5.79B+14% | SEC ↗ |
| Q3 2023 | Nov 14, 2023 | $5.07B−6% | SEC ↗ |
| Q2 2023 | Aug 14, 2023 | $5.39B+185% | SEC ↗ |
| Q1 2023 | May 15, 2023 | $1.89B+40% | SEC ↗ |
| Q4 2022 | Feb 14, 2023 | $1.35B−1% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $1.36B−15% | SEC ↗ |
| Q2 2022 | Aug 15, 2022 | $1.59B−36% | SEC ↗ |
| Q1 2022 | May 16, 2022 | $2.50B−36% | SEC ↗ |
| Q4 2021 | Feb 14, 2022 | $3.89B−7% | SEC ↗ |
| Q3 2021 | Nov 15, 2021 | $4.20B−13% | SEC ↗ |
| Q2 2021 | Aug 16, 2021 | $4.83B−31% | SEC ↗ |
| Q1 2021 | May 17, 2021 | $6.96B+4% | SEC ↗ |
| Q4 2020 | Feb 16, 2021 | $6.69B+18% | SEC ↗ |
| Q3 2020 | Nov 16, 2020 | $5.66B−2% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 | $5.76B+76% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $3.27B−18% | SEC ↗ |
| Q4 2019 | Feb 14, 2020 | $3.98B+17% | SEC ↗ |
| Q3 2019 | Nov 14, 2019 | $3.41B−63% | SEC ↗ |
| Q2 2019 | Aug 14, 2019 | $9.26B+165% | SEC ↗ |
| Q1 2019 | May 15, 2019 | $3.49B+72% | SEC ↗ |
| Q4 2018 | Feb 14, 2019 | $2.02B−64% | SEC ↗ |
| Q3 2018 | Nov 14, 2018 | $5.69B−35% | SEC ↗ |
| Q2 2018 | Aug 14, 2018 | $8.78B−10% | SEC ↗ |
| Q1 2018 | May 15, 2018 | $9.72B−9% | SEC ↗ |
| Q4 2017 | Feb 14, 2018 | $10.73B+51% | SEC ↗ |
| Q3 2017 | Nov 14, 2017 | $7.12B+6% | SEC ↗ |
| Q2 2017 | Aug 14, 2017 | $6.74B+11% | SEC ↗ |
| Q1 2017 | May 12, 2017 | $6.09B+8% | SEC ↗ |
| Q4 2016 | Feb 14, 2017 | $5.64B+28% | SEC ↗ |
| Q3 2016 | Nov 14, 2016 | $4.40B+16% | SEC ↗ |
| Q2 2016 | Aug 12, 2016 | $3.80B−33% | SEC ↗ |
| Q1 2016 | May 13, 2016 | $5.66B | SEC ↗ |