David Tepper’s Appaloosa buys Corning, exits Adobe in Q4

David Tepper’s Appaloosa Management disclosed in an SEC filing its holdings as of December 31, 2024. The fund’s one new buy during the fourth quarter was Corning (GLW), and it exited its stake in Adobe (ADBE). Appaloosa increased its stake in a number of holdings, including by size of previous position Vistra Corp. (VST), NRG Energy (NRG), JD.com (JD), ASML (ASML), and iShares China Large-Cap ETF (FXI). Meanwhile, the fund reduced its stake in several positions, including by size of previous position Meta (META), Intel (INTC), Oracle (ORCL), Wynn Resorts (WYNN), and Las Vegas Sands (LVS). The fund’s top holdings as of December 31, in order of size, were Alibaba (BABA), Amazon (AMZN), PDD (PDD), Microsoft (MSFT), and Vistra.