“Wall Street Scavenger” David Tepper makes another move! UnitedHealth (UNH.US) was heavily invested in Q2, and Alibaba (BABA.US) was the most heavily held stock

The Zhitong Finance App learned that according to the US Securities and Exchange Commission (SEC) disclosure, Appaloosa LP, a subsidiary of Wall Street mogul David Tepper, submitted a position report (13F) for the second quarter (Q2) ending June 30, 2025. Known as the “king of Wall Street scavengers,” Tepper showed his unique style as a reverse investor: buying a large number of troubled UnitedHealth (UNHUS) shares in the second quarter.

Statistics show that the total market value of Appaloosa LP positions in the second quarter was US$6.45 billion, compared to US$8.38 billion in the previous quarter, down 23% from the previous quarter. Appaloosa LP added 8 new targets to its portfolio in the second quarter, increased its holdings by 9, reduced its holdings by 16, and cleared 8 targets; of these, the top ten holdings accounted for 64.63% of the total market value.

Among the top five major stocks, Alibaba (BABA.US) ranked first, holding about 7.07 million shares, with a market value of about US$801 million, accounting for 12.43% of the portfolio, down 23.43% from the number of holdings in the previous quarter.

United Health (UNH.US) ranked second, holding about 2.45 million shares, with a market value of about US$764 million, accounting for 11.85% of the portfolio, which surged 1300.00% from the previous quarter. Notably, Berkshire Hathaway, a subsidiary of “stock god” Buffett, opened a new warehouse for more than 5 million shares of Allied Health in the second quarter. Boosted by the news, UnitedHealth rose more than 12% after the market on Thursday.

According to reports, the health insurance company's stock price plummeted by about 40% in the second quarter as UnitedHealth suspended its annual earnings forecast, changed its CEO, and faced criminal investigation for suspected health insurance fraud. It was one of the worst-performing constituent stocks in the S&P 500 index during this period.

Amazon (AMZN.US) ranked third, holding about 2.7 million shares, with a market value of about US$592 million, accounting for 9.19% of the portfolio, an increase of 7.57% over the previous quarter.

Vistra Energy (VST.US) ranked fourth, holding about 1.8 million shares, with a market value of about US$349 million, accounting for 5.41% of the portfolio, down 21.74% from the number of positions held in the previous quarter. The company is one of the largest electricity producers and retail energy suppliers in the US, and is mainly engaged in power generation, energy retail, and energy management businesses.

US electricity producer NRG Energy (NRG.US) ranked fifth, holding about 1.8 million shares, with a market value of about US$318 million, accounting for 4.93% of the portfolio, down 3.41% from the previous quarter.

Additionally, Meta Platforms (META.US), Nvidia (NVDA.US), Google-C (GOOG.US), Uber (UBER.US), and Microsoft (MSFT.US) are among the top ten major stocks.

Appaloosa LP opened positions on Intel (INTC.US), Raytheon (RTX.US), United Continental Airlines (UAL.US), Delta Air Lines (DAL.US), etc. in Q2 to clear Apple put options (AAPL.US, PUT), Broadcom (AVGO.US), and Sands Group (LVS.US).

Judging from changes in position ratios, the top five buying targets are: UnitedHealth, Nvidia, Amazon, TSM.US, and Intel.

The top five selling targets include SPDR S&P 500 Fossil Put Options (SPYX.US, PUT), Apple Put Options, Alibaba, and China Large Cap ETF (FXI.US).