Appaloosa

Q1 2021 13F · by David Tepper, portfolio manager

As of: Mar 31, 2021
Filed: May 17, 2021
US stock: $7.0B · prev $6.7B
Positions: 62 · prev 45
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves66 since the prior filing

+17.1 pp in · −17.1 pp out

New 23 +12.44 pp
Added 8 +4.70 pp
Trimmed 29 −15.91 pp
Exited 6 −1.21 pp

The book

Focused · behaves like 23 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 60% a year, about 1.7 years per position

Low
Moderate
High

Top 5 positions40% of US stock

Positions62 in this filing · 6 exited


MUMicron Technology, Inc.	9.22%	7,275,000	$642M	trimmed−9%	+0.23 pp	18 q
AMZNAmazon.Com Inc	8.26%	186,000	$575M	trimmed−6%	−1.37 pp	9 q
METAMeta Platforms, Inc. Class A	7.70%	1,820,000	$536M	trimmed−10%	−0.51 pp	19 q
TMUST-Mobile US, Inc.	7.54%	4,190,000	$525M	trimmed−15%	−2.35 pp	14 q
GOOGAlphabet Inc. Class C	6.86%	231,000	$478M	trimmed−9%	+0.19 pp	28 q
PCGPG&E Corporation	4.81%	28,600,657	$335M	trimmed−33%	−3.08 pp	14 q
BABAAlibaba Group Holding Limited	3.71%	1,140,000	$258M	trimmed−40%	−2.90 pp	7 q
OXYOccidental Petroleum Corporation	3.21%	8,395,000	$223M	added+4%	+1.11 pp	2 q
XLEState Street Energy Select Sector SPDR ETF	3.05%	4,322,500	$212M	added+38%	+1.28 pp	2 q
HCAHCA Healthcare, Inc.	2.57%	950,000	$179M	trimmed−5%	+0.11 pp	5 q
ETEnergy Transfer LP	2.52%	22,820,328	$175M	trimmed−5%	+0.30 pp	16 q
TWTRTwitter, Inc.	2.42%	2,650,000	$169M	trimmed−44%	−1.43 pp	5 q
EXEExpand Energy Corporation	2.32%	3,728,685	$162M	new	+2.32 pp	new
PARAParamount Global-class B	2.23%	3,445,000	$155M	new	+2.23 pp	new
PSFEPaysafe Limited	1.94%	10,000,000	$135M	new	+1.94 pp	new
XOPState Street SPDR S&P Oil & Gas Exploration & Production ETF	1.60%	1,367,500	$111M	added+48%	+0.79 pp	2 q
MSFTMicrosoft Corp	1.56%	460,000	$108M	trimmed−16%	−0.27 pp	5 q
DHID.R. Horton Inc.	1.49%	1,165,000	$104M	new	+1.49 pp	new
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	1.48%	277,500	$103M	added+39%	+0.43 pp	17 q
QCOMQualcomm Inc	1.43%	750,000	$99M	added+25%	+0.06 pp	2 q
KSSKohls Corporation	1.36%	1,587,500	$95M	trimmed−8%	+0.31 pp	2 q
SYYSysco Corporation	1.31%	1,157,500	$91M	trimmed−7%	−0.08 pp	4 q
VVISA Inc.	1.26%	415,000	$88M	trimmed−33%	−0.77 pp	4 q
KMXCarMax Inc.	1.25%	654,300	$87M	trimmed−13%	+0.19 pp	2 q
MMacy's Inc.	1.23%	5,272,500	$85M	trimmed−18%	+0.15 pp	2 q
EMREmerson Electric Co.	1.17%	906,000	$82M	trimmed−7%	0.00 pp	4 q
GTGoodyear Tire & Rubber	1.17%	4,623,867	$81M	added+4%	+0.44 pp	5 q
CRMSalesforce, Inc.	1.17%	385,000	$82M	trimmed−30%	−0.66 pp	9 q
MAMastercard Incorporated	1.07%	210,000	$75M	trimmed−48%	−1.08 pp	4 q
EPDEnterprise Products Partners L.P.	1.02%	3,235,841	$71M	trimmed−6%	+0.01 pp	2 q
ADBEAdobe Inc.	0.99%	145,000	$69M	trimmed−28%	−0.51 pp	9 q
DISThe Walt Disney Company	0.91%	345,000	$64M	trimmed−54%	−1.11 pp	4 q
AMLPAlerian MLP ETF	0.86%	1,973,843	$60M	trimmed−7%	+0.04 pp	10 q
NFLXNetFlix Inc	0.81%	107,500	$56M	trimmed−15%	−0.22 pp	5 q
BFHBread Financial Holdings, Inc.	0.74%	462,500	$52M	added+3%	+0.24 pp	2 q
FCXFreeport-McMoran Inc.	0.71%	1,500,000	$49M	added+60%	+0.35 pp	2 q
PYPLPayPal Holdings, Inc.	0.61%	175,000	$42M	trimmed−67%	−1.23 pp	4 q
EWYiShares MSCI South Korea ETF	0.60%	462,500	$41M	trimmed−8%	−0.04 pp	2 q
EQTEqt Corp	0.54%	2,032,085	$38M	trimmed−7%	+0.12 pp	2 q
MOSThe Mosaic Company	0.49%	1,075,000	$34M	new	+0.49 pp	new
ARAntero Resources Corporation	0.43%	2,960,000	$30M	new	+0.43 pp	new
APAAPA Corporation	0.39%	1,505,000	$27M	new	+0.39 pp	new
IQiQIYI, Inc.	0.39%	1,644,934	$27M	new	+0.39 pp	new
ETWOE2open Parent Holdings, Inc.	0.36%	2,500,000	$25M	new	+0.36 pp	new
MPLXMplx LP	0.35%	941,021	$24M	trimmed−14%	0.00 pp	2 q
BPBP p.l.c.	0.34%	975,000	$24M	new	+0.34 pp	new
DISCADiscovery, Inc. Series A	0.30%	475,000	$21M	new	+0.30 pp	new
WESWestern Midstream Partners, LP	0.25%	936,962	$17M	trimmed−5%	+0.05 pp	5 q
unresolvedAltimeter Growth Corp 2	0.22%	1,500,000	$16M	new	+0.22 pp	new
EXEEZChesapeake Energy -CW26	0.20%	694,957	$14M	new	+0.20 pp	new
EXEEWChesapeake Energy Corp -CW26	0.19%	625,461	$13M	new	+0.19 pp	new
unresolvedCc Neuberger Principal Holdn	0.18%	1,250,000	$12M	new	+0.18 pp	new
RDS.ARoyal Dutch Shell PLC	0.16%	292,500	$11M	new	+0.16 pp	new
unresolvedLiberty Media Acquisition Co	0.15%	1,000,000	$11M	new	+0.15 pp	new
RDS.BRoyal Dutch Shell PLC	0.15%	292,500	$11M	new	+0.15 pp	new
BIDUBaidu, Inc.	0.14%	45,000	$10M	new	+0.14 pp	new
PG&E Corpconvertible	0.12%	75,000	$9M	held	—	3 q
unresolvedHennessy Capital Invs Corp V	0.11%	750,000	$8M	new	+0.11 pp	new
unresolvedDragoneer Growth Oppty Corp	0.11%	750,000	$8M	held	—	2 q
unresolvedSvf Investment Corp	0.11%	750,000	$8M	new	+0.11 pp	new
EXEELChesapeake Energy Corp -CW26	0.09%	386,087	$6M	new	+0.09 pp	new
SHOPShopify Inc. Class A subordinate voting shares	0.06%	3,750	$4M	new	+0.06 pp	new
XYZBlock, Inc.	—	−182,500	—	exited	−0.59 pp	—
WEPMagellan Midstream Partners	—	−280,690	—	exited	−0.18 pp	—
WFCWells Fargo & Co.	—	−400,000	—	exited	−0.18 pp	—
KMIKinder Morgan, Inc.	—	−590,000	—	exited	−0.12 pp	—
TNNTenneco Inc-class A	—	−780,019	—	exited	−0.12 pp	—
ENBLEnable Midstream Partners, LP	—	−307,116	—	exited	−0.02 pp	—