Appaloosa

Q1 2024 13F · by David Tepper, portfolio manager

As of: Mar 31, 2024
Filed: May 15, 2024
US stock: $6.7B · prev $5.7B
Positions: 38 · prev 39
Options notional: $63M
Documents: 1· no amendments

Picture99.1% US stock

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

US stock listed on a US exchange 99.1%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.9%
Calls at notional value 0.0%

Moves34 since the prior filing

+19.4 pp in · −19.1 pp out

New 6 +8.57 pp
Added 6 +10.80 pp
Trimmed 13 −17.44 pp
Exited 7 −1.67 pp

Options: 2 moves on a notional base, in the table below.

The book

Concentrated · behaves like 17 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 93% a year, about 1.1 years per position

Low
Moderate
High

Top 5 positions45% of US stock

Positions38 in this filing · 7 exited


BABAAlibaba Group Holding Limited	12.17%	11,250,000	$814M	added×2.6	+6.21 pp	8 q
AMZNAmazon.Com Inc	10.32%	3,828,000	$690M	trimmed−3%	−0.29 pp	21 q
MSFTMicrosoft Corp	8.80%	1,400,000	$589M	trimmed−18%	−2.50 pp	17 q
METAMeta Platforms, Inc. Class A	8.15%	1,122,500	$545M	trimmed−39%	−3.42 pp	31 q
NVDANvidia Corp	5.97%	442,000	$399M	trimmed−44%	−0.95 pp	5 q
GOOGAlphabet Inc. Class C	4.72%	2,075,000	$316M	trimmed−10%	−1.01 pp	40 q
AMDAdvanced Micro Devices	4.40%	1,630,000	$294M	trimmed−19%	−0.84 pp	4 q
ORCLOracle Corp	4.32%	2,300,000	$289M	added+74%	+1.85 pp	2 q
PDDPDD Holdings Inc.	3.65%	2,100,000	$244M	added×2.7	+1.65 pp	4 q
BIDUBaidu, Inc.	2.83%	1,800,000	$190M	added×2.9	+1.51 pp	4 q
ADBEAdobe Inc.	2.64%	350,000	$177M	new	+2.64 pp	new
FDXFedEx Corporation	2.60%	600,000	$174M	trimmed−8%	−0.31 pp	5 q
QCOMQualcomm Inc	2.50%	990,000	$168M	trimmed−1%	−0.06 pp	4 q
INTCIntel Corp	2.48%	3,750,000	$166M	trimmed−18%	−1.61 pp	4 q
FXIiShares China Large-Cap ETF	2.29%	6,375,000	$153M	new	+2.29 pp	new
MUMicron Technology, Inc.	2.14%	1,215,000	$143M	held	—	4 q
ETEnergy Transfer LP	2.03%	8,644,428	$136M	trimmed−12%	−0.36 pp	28 q
LRCXLam Research Corp	1.67%	115,000	$112M	trimmed−3%	+0.04 pp	4 q
UBERUber Technologies, Inc.	1.56%	1,360,000	$105M	trimmed−77%	−4.97 pp	12 q
CZRCaesars Entertainment, Inc.	1.50%	2,300,000	$101M	added+2%	−0.36 pp	6 q
JDJD.com, Inc.	1.49%	3,649,863	$100M	new	+1.49 pp	new
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	1.48%	200,000	$99M	held	—	29 q
KWEBKraneShares CSI China Internet ETF	1.36%	3,475,000	$91M	new	+1.36 pp	new
UPSUnited Parcel Service, Inc. Class B	1.33%	600,000	$89M	added+20%	−0.06 pp	2 q
ASMLASML Holding NV	1.16%	80,000	$78M	held	—	4 q
EQTEqt Corp	1.14%	2,060,000	$76M	held	—	14 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	1.02%	500,000	$68M	held	—	4 q
ARAntero Resources Corporation	0.87%	2,000,000	$58M	held	—	13 q
BABoeing Company	0.65%	225,000	$43M	new	+0.65 pp	new
SW5Southwestern Energy Co	0.54%	4,800,000	$36M	held	—	4 q
MMacy's Inc.	0.42%	1,400,000	$28M	trimmed−69%	−1.16 pp	14 q
MPLXMplx LP	0.41%	660,000	$27M	held	—	14 q
BEKEKE Holdings Inc.	0.35%	1,705,000	$23M	held	—	3 q
EXEEZChesapeake Energy -CW26	0.30%	250,000	$20M	held	—	13 q
EXEExpand Energy Corporation	0.27%	203,000	$18M	held	—	13 q
NSCNorfolk Southern Corp.	0.17%	45,000	$11M	held	—	2 q
EXEELChesapeake Energy Corp -CW26	0.16%	150,000	$11M	held	—	13 q
LYFTLyft, Inc. Class A	0.14%	467,618	$9M	new	+0.14 pp	new
HCAHCA Healthcare, Inc.	—	−117,198	—	exited	−0.56 pp	—
FMCFMC Corporation	—	−325,000	—	exited	−0.36 pp	—
WHRWhirlpool Corp.	—	−90,000	—	exited	−0.19 pp	—
GMGeneral Motors Company	—	−265,000	—	exited	−0.17 pp	—
MHKMohawk Industries, Inc.	—	−95,000	—	exited	−0.17 pp	—
MASMasco Corporation	—	−130,000	—	exited	−0.15 pp	—
OCOwens Corning	—	−25,000	—	exited	−0.07 pp	—