管理人记录 · ✦ 精选 · 已归档季度

Appaloosa

David Tepper (President) · Short Hills, NJ · CIK 1656456 · EDGAR 文件 ↗

Opportunistic, macro-aware equity positioning.

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 差异 ⇄

$6.46B13F报告持仓市值

37持仓明细

66.8%前十大权重

16.20有效持仓

9.1%预计换手率

+1新增

−2清仓

申报的13F投资组合价值仅涵盖美国应申报多头仓位，不含现金、债券、空头仓位或非美国持仓，不等同于管理规模。

各季度报告持仓市值 Q2 2024 → Q2 2026

板块敞口

可选消费 40.5% (-2.9pp)

科技 26.4% (-1.6pp)

通信服务 12.0% (-0.3pp)

公用事业 8.3% (+4.7pp)

金融服务 5.2% (+0.5pp)

能源 3.9% (-0.5pp)

工业 1.5% (+0.0pp)

医疗保健 1.4% (-0.1pp)

房地产 0.7% (+0.1pp)

占已申报普通股权益价值的比例；（±pp）较上一季度。

持仓组合 · Q4 2024

#	证券	权重	价值	股份	Δ股份		持有
1	BABA Alibaba Group Holding…	15.5%	$1.00B	11.84M	+18.4%	▲ Add	3
2	AMZN Amazon.com, Inc.	8.8%	$570.41M	2.60M	-18.8%	▼ Trim	3
3	PDD PDD Holdings Inc.	8.0%	$519.49M	5.36M	+1.0%	▲ Add	3
4	MSFT Microsoft Corporation	6.3%	$408.86M	970.00K	0.0%	Held	3
5	VST Vistra Corp.	5.8%	$372.25M	2.70M	+112.5%	▲ Add	2
6	JD JD.com, Inc.	5.6%	$362.85M	10.47M	+43.4%	▲ Add	3
7	GOOG Alphabet Inc.	5.5%	$358.40M	1.88M	0.0%	▼ Trim	3
8	META Meta Platforms, Inc.	4.4%	$286.90M	490.00K	-21.6%	▼ Trim	3
9	ORCL Oracle Corporation	3.6%	$233.30M	1.40M	-11.0%	▼ Trim	3
10	FXI iShares China Large-Cap ETF	3.1%	$202.03M	6.64M	+13.8%	▲ Add	3
11	LYFT Lyft, Inc.	2.7%	$174.15M	13.50M	-14.3%	▼ Trim	3
12	NRG NRG Energy, Inc.	2.5%	$163.75M	1.81M	+81.5%	▲ Add	2
13	AMD Advanced Micro Devices, Inc.	2.2%	$144.95M	1.20M	+5.7%	▲ Add	3
14	KWEB KraneShares CSI China…	2.1%	$133.79M	4.58M	+21.5%	▲ Add	3
15	BIDU Baidu, Inc.	2.0%	$128.82M	1.53M	+7.2%	▲ Add	3
16	QCOM QUALCOMM Incorporated	1.9%	$122.90M	800.00K	0.0%	Held	3
17	ASML ASML Holding N.V.	1.7%	$110.89M	160.00K	+106.5%	▲ Add	3
18	MU Micron Technology, Inc.	1.6%	$100.99M	1.20M	+14.3%	▲ Add	3
19	FDX FedEx Corporation	1.5%	$98.47M	350.00K	-6.7%	▼ Trim	3
20	ET Energy Transfer LP	1.5%	$96.28M	4.91M	-28.0%	▼ Trim	3
21	NVDA NVIDIA Corporation	1.4%	$91.32M	680.00K	+8.8%	▲ Add	3
22	UBER Uber Technologies, Inc.	1.4%	$90.48M	1.50M	+6.4%	▲ Add	3
23	LRCX Lam Research Corporation	1.4%	$90.29M	1.25M	+1150.0%	▲ Add	3
24	UNH UnitedHealth Group…	1.4%	$88.27M	174.50K	0.0%	Held	3
25	CZR Caesars Entertainment, Inc.	1.1%	$73.52M	2.20M	+2.3%	▲ Add	3
26	GLW Corning Inc	1.1%	$71.28M	1.50M	新增	New	1
27	EXE Expand Energy Corporation	1.0%	$64.92M	695.00K	+23.0%	▲ Add	3
28	TSM Taiwan Semiconductor…	0.8%	$49.37M	250.00K	-37.5%	▼ Trim	3
29	BEKE KE Holdings Inc.	0.7%	$47.41M	2.57M	+18.4%	▲ Add	3
30	LVS Las Vegas Sands Corp.	0.7%	$46.22M	900.00K	-41.1%	▼ Trim	2
31	WYNN Wynn Resorts, Limited	0.7%	$43.08M	500.00K	-37.5%	▼ Trim	2
32	EQT EQT Corporation	0.6%	$36.89M	800.00K	-55.4%	▼ Trim	3
33	AR Antero Resources Corporation	0.5%	$29.44M	840.00K	-51.9%	▼ Trim	3
34	MPLX MPLX Lp	0.4%	$27.69M	578.50K	0.0%	Held	3
35	INTC Intel Corp.	0.3%	$20.05M	1.00M	-60.0%	▼ Trim	3

仅含普通股（SH）持仓；期权行显示于"期权"标签页，且不作净额处理。✂ = 变动基于拆股调整后的前期持股数计算。"持有 N+ 季度"= 在我们的数据窗口内每季度均有持仓，实际持有时间可能更长。

证券	股份	上期	变动	价值	权重	连续记录
BABA Alibaba Group Holding…	11.84M	10.00M	+18.4%	$1.00B	15.5%
PDD PDD Holdings Inc.	5.36M	5.30M	+1.0%	$519.49M	8.0%	●●○○○○
VST Vistra Corp.	2.70M	1.27M	+112.5%	$372.25M	5.8%	●●○○○○
JD JD.com, Inc.	10.47M	7.30M	+43.4%	$362.85M	5.6%	●●○○○○
FXI iShares China Large-Cap…	6.64M	5.83M	+13.8%	$202.03M	3.1%
AMD Advanced Micro Devices…	1.20M	1.14M	+5.7%	$144.95M	2.2%
NRG NRG Energy, Inc.	1.81M	999.82K	+81.5%	$163.75M	2.5%	●●○○○○
BIDU Baidu, Inc.	1.53M	1.43M	+7.2%	$128.82M	2.0%
KWEB KraneShares CSI China…	4.58M	3.77M	+21.5%	$133.79M	2.1%
ASML ASML Holding N.V.	160.00K	77.50K	+106.5%	$110.89M	1.7%
MU Micron Technology, Inc.	1.20M	1.05M	+14.3%	$100.99M	1.6%
UBER Uber Technologies, Inc.	1.50M	1.41M	+6.4%	$90.48M	1.4%
NVDA NVIDIA Corporation	680.00K	625.00K	+8.8%	$91.32M	1.4%
LRCX Lam Research Corporation	1.25M	100.00K	+1150.0%	$90.29M	1.4%
CZR Caesars Entertainment…	2.20M	2.15M	+2.3%	$73.52M	1.1%
EXE Expand Energy…	695.00K	565.00K	+23.0%	$64.92M	1.0%
BEKE KE Holdings Inc.	2.57M	2.17M	+18.4%	$47.41M	0.7%	●●○○○○

证券	股份	上期	变动	价值	权重	连续记录
AMZN Amazon.com, Inc.	2.60M	3.20M	-18.8%	$570.41M	8.8%	●●○○○○
GOOG Alphabet Inc.	1.88M	1.88M	0.0%	$358.40M	5.5%	●●○○○○
META Meta Platforms, Inc.	490.00K	625.00K	-21.6%	$286.90M	4.4%	●●○○○○
ORCL Oracle Corporation	1.40M	1.57M	-11.0%	$233.30M	3.6%	●●○○○○
LYFT Lyft, Inc.	13.50M	15.75M	-14.3%	$174.15M	2.7%
ET Energy Transfer LP	4.91M	6.83M	-28.0%	$96.28M	1.5%	●●○○○○
FDX FedEx Corporation	350.00K	375.00K	-6.7%	$98.47M	1.5%	●●○○○○
LVS Las Vegas Sands Corp.	900.00K	1.53M	-41.1%	$46.22M	0.7%
WYNN Wynn Resorts, Limited	500.00K	800.00K	-37.5%	$43.08M	0.7%
TSM Taiwan Semiconductor…	250.00K	400.00K	-37.5%	$49.37M	0.8%	●●○○○○
EQT EQT Corporation	800.00K	1.79M	-55.4%	$36.89M	0.6%	●●○○○○
INTC Intel Corp.	1.00M	2.50M	-60.0%	$20.05M	0.3%	●●○○○○
AR Antero Resources…	840.00K	1.75M	-51.9%	$29.44M	0.5%	●●○○○○

证券	股份	上期	变动	价值	权重	连续记录
ADBE Adobe Inc.	n/a	200.00K	退出	$103.56M	1.5%
SWN	n/a	4.18M	退出	$29.72M	0.4%

持仓持有时长

10–1 季度

342–4 季度

当前各持仓在我们数据窗口内已连续报告的季度数。

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