13F filer · CIK 1656456 ↗
Appaloosa
You are looking at Q3 2025. See the latest, Q2 2026 →
Reported value
$7.38B
+14% on the quarter before
Positions
45
10 new · 3 sold out
Top 10
57.6%
of the value
Est. gain
+$965.6M
on stocks held all quarter
Est. return
+19.4%
on those stocks since Q2 2025
Positions as of Sep 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 Q2 2025. Striped tiles are options.
Largest buys
Since Q2 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.
- Whirlpool Corp~$411.4MAdded · 0.4% → 5.9%+5,233,908 shares
- AMD~$153.7MNew · 0.0% → 2.1%+950,000 shares
- Qualcomm~$148.9MAdded · 0.9% → 2.8%+895,000 shares
- Kraneshares Trust~$142.8MAdded · 2.1% → 4.2%+3,400,000 shares
- Fiserv Inc~$119.3MNew · 0.0% → 1.6%+925,000 shares
- American Airls Group Inc~$104.0MNew · 0.0% → 1.4%+9,250,000 shares
- Truist Finl Corp~$63.4MNew · 0.0% → 0.9%+1,387,500 shares
- Baidu~$55.3MAdded · 0.8% → 1.9%+420,000 shares
- Keycorp~$37.8MNew · 0.0% → 0.5%+2,020,000 shares
- Goodyear Tire & Rubr Co~$32.0MAdded · 0.1% → 0.5%+4,278,218 shares
Largest sells
Since Q2 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.
- Unitedhealth Group Inc~$775.7MCut · 11.9% → 1.0%−2,246,500 shares
- Intel~$179.2MSold out · 2.8% → 0.0%−8,000,000 shares
- Alibaba~$110.3MCut · 12.4% → 15.6%−617,271 shares
- Vistra~$108.7MCut · 5.4% → 3.3%−555,000 shares
- Micron~$54.4MCut · 1.6% → 1.1%−325,000 shares
- Lyft Inc~$52.8MCut · 2.0% → 1.7%−2,400,000 shares
- Amazon~$43.9MCut · 9.2% → 7.4%−200,000 shares
- Uber~$33.6MCut · 4.0% → 3.2%−343,017 shares
- Oracle~$32.8MSold out · 0.5% → 0.0%−150,000 shares
- Alphabet~$27.4MCut · 4.1% → 4.6%−112,500 shares
Holdings
As of Sep 30, 2025. Changes are in shares against Jun 30, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| AlibabaSPONSORED ADS · shares −8.7% · price +57.6% | 15.6% | $1.15B | +$421.3M | ||||||||
| AmazonCOM · shares −7.4% · price +0.1% | 7.4% | $548.9M | +$450,000 | ||||||||
| Whirlpool CorpCOM · shares +1,967% · price −22.5% | 5.9% | $432.3M | −$6.1M | ||||||||
| NvidiaCOM · shares +8.6% · price +18.1% | 4.8% | $354.5M | +$50.0M | ||||||||
| AlphabetCAP STK CL C · shares −7.5% · price +37.3% | 4.6% | $337.9M | +$91.8M | ||||||||
| Kraneshares TrustCSI CHI INTERNET · shares +85% · price +22.4% | 4.2% | $310.9M | +$30.7M | ||||||||
| NRG EnergyCOM NEW · shares −5.6% · price +0.9% | 4.1% | $302.8M | +$2.6M | ||||||||
| TSMCSPONSORED ADS · shares +3.4% · price +23.3% | 4.0% | $296.0M | +$54.1M | ||||||||
| MetaCL A · shares −7.5% · price −0.5% | 3.7% | $271.7M | −$1.4M | ||||||||
| VistraCOM · shares −31% · price +1.1% | 3.3% | $243.9M | +$2.6M | ||||||||
| MicrosoftCOM · shares −7.5% · price +4.1% | 3.2% | $239.6M | +$9.5M | ||||||||
| PDD HoldingsSPONSORED ADS · shares −10% · price +26.3% | 3.2% | $237.9M | +$49.5M | ||||||||
| UberCOM · shares −12% · price +5.0% | 3.2% | $235.8M | +$11.2M | ||||||||
| Jd.Com IncSPON ADS CL A · shares −11% · price +7.2% | 2.9% | $217.8M | +$14.6M | ||||||||
| QualcommCOM · shares +256% · price +4.5% | 2.8% | $207.1M | +$2.5M | ||||||||
| AMDCOM · shares New | 2.1% | $153.7M | — | ||||||||
| BaiduSPON ADR REP A · shares +67% · price +53.6% | 1.9% | $137.7M | +$28.8M | ||||||||
| Deutsche Bank A GNAMEN AKT · shares −5.3% · price +20.9% | 1.8% | $134.2M | +$23.2M | ||||||||
| Corning Inc.COM · shares −7.1% · price +56.0% | 1.8% | $133.3M | +$47.8M | ||||||||
| Lyft IncCL A COM · shares −30% · price +39.7% | 1.7% | $123.3M | +$35.0M | ||||||||
| Fiserv IncCOM · shares New | 1.6% | $119.3M | — | ||||||||
| American Airls Group IncCOM · shares New | 1.4% | $104.0M | — | ||||||||
| L3harris Technologies IncCOM · shares −14% · price +21.8% | 1.2% | $91.6M | +$16.4M | ||||||||
| Rtx CorporationCOM · shares −13% · price +14.6% | 1.2% | $85.3M | +$10.9M | ||||||||
| Energy Transfer L PCOM UT LTD PTN · shares 0% · price −5.4% | 1.2% | $85.1M | −$4.8M | ||||||||
| Total · 45 positions | 100% | $7.38B | +$965.6M |
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 Q2 2025 to Q3 2025: 35 stocks held throughout, up $965.6M (+19.4%).
- Alibaba+$421.3M+58%
- Alphabet+$91.8M+37%
- TSMC+$54.1M+23%
- Nvidia+$50.0M+18%
- PDD Holdings+$49.5M+26%
- Meta−$1.4M−1%
- Goodyear Tire & Rubr Co−$2.5M−28%
- Caesars Entertainment Inc Ne−$2.9M−5%
- Energy Transfer L P−$4.8M−5%
- Whirlpool Corp−$6.1M−23%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out.
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 ↗ |