David Tepper
Appaloosa 创始人，困境债/宏觀/周期股經验丰富
Appaloosa 是觀察 David Tepper 周期判断和风險偏好變化的重要样本，公開持倉經常體現他對流動性、金融條件、科技估值、周期股和中国互聯網的邊際判断。最值得看的是大倉位切换、行業輪動和宏觀觀點如何落到股票組合上。
| 股票 | 股數 | 市值 | 权重 |
|---|---|---|---|
AMZN
|
4,320,000 | $899.7M | 15.2% |
MU
|
1,665,000 | $562.5M | 9.5% |
GOOG
|
1,732,700 | $497.0M | 8.4% |
UBER
|
6,332,720 | $455.5M | 7.7% |
TSM
|
1,327,500 | $448.6M | 7.6% |
BABA
|
3,465,000 | $434.7M | 7.3% |
VST
|
2,022,332 | $304.0M | 5.1% |
EWY
|
2,400,000 | $295.2M | 5.0% |
NVDA
|
1,471,500 | $256.6M | 4.3% |
NRG
|
1,734,442 | $253.5M | 4.3% |
META
|
436,500 | $249.7M | 4.2% |
SNDK
|
281,250 | $178.7M | 3.0% |
GLW
|
1,129,500 | $153.6M | 2.6% |
WHR
|
1,950,000 | $105.1M | 1.8% |
PDD
|
900,000 | $92.0M | 1.5% |
LRCX
|
382,500 | $81.7M | 1.4% |
BIDU
|
692,100 | $77.1M | 1.3% |
LHX
|
198,000 | $68.3M | 1.2% |
RTX
|
342,000 | $66.0M | 1.1% |
ASML
|
49,500 | $65.4M | 1.1% |
| 股票 | 動作 | 13F 時間 | 當前股數 | 上期股數 | 股數變化 | 13F市值變化 |
|---|---|---|---|---|---|---|
|
AMZN
|
大幅增持 | 2026-03-31 披露 2026-05-15 | 4,320,000 | 2,179,391 | 98.2% | +$396.7M |
|
BABA
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 3,465,000 | 5,137,931 | -32.6% | -$318.4M |
|
UBER
|
大幅增持 | 2026-03-31 披露 2026-05-15 | 6,332,720 | 1,850,000 | 242.3% | +$304.3M |
AAL
|
清倉 | 2026-03-31 披露 2026-05-15 | 0 | 14,150,000 | -100.0% | -$216.9M |
MSFT
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 90,000 | 500,000 | -82.0% | -$208.5M |
|
SNDK
|
新增 | 2026-03-31 披露 2026-05-15 | 281,250 | 0 | - | +$178.7M |
|
WHR
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 1,950,000 | 3,910,000 | -50.1% | -$176.9M |
|
VST
|
大幅增持 | 2026-03-31 披露 2026-05-15 | 2,022,332 | 945,000 | 114.0% | +$151.6M |
|
META
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 436,500 | 600,000 | -27.3% | -$146.3M |
|
MU
|
小幅增持 | 2026-03-31 披露 2026-05-15 | 1,665,000 | 1,500,000 | 11.0% | +$134.4M |
QCOM
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 498,613 | 1,145,000 | -56.5% | -$131.6M |
KWEB
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 1,080,000 | 4,750,000 | -77.3% | -$131.0M |
|
EWY
|
大幅增持 | 2026-03-31 披露 2026-05-15 | 2,400,000 | 1,875,000 | 28.0% | +$112.9M |
|
PDD
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 900,000 | 1,775,000 | -49.3% | -$109.3M |
OC
|
清倉 | 2026-03-31 披露 2026-05-15 | 0 | 950,000 | -100.0% | -$106.3M |
|
TSM
|
大幅增持 | 2026-03-31 披露 2026-05-15 | 1,327,500 | 1,130,000 | 17.5% | +$105.2M |
JD
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 1,305,000 | 4,157,046 | -68.6% | -$80.7M |
MHK
|
清倉 | 2026-03-31 披露 2026-05-15 | 0 | 675,000 | -100.0% | -$73.8M |
|
GOOG
|
小幅減持 | 2026-03-31 披露 2026-05-15 | 1,732,700 | 1,786,931 | -3.0% | -$63.7M |
IQV
|
清倉 | 2026-03-31 披露 2026-05-15 | 0 | 280,000 | -100.0% | -$63.1M |
|
NVDA
|
小幅減持 | 2026-03-31 披露 2026-05-15 | 1,471,500 | 1,700,000 | -13.4% | -$60.4M |
UAL
|
清倉 | 2026-03-31 披露 2026-05-15 | 0 | 465,000 | -100.0% | -$52.0M |
UNH
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 90,000 | 200,000 | -55.0% | -$41.7M |
FXI
|
清倉 | 2026-03-31 披露 2026-05-15 | 0 | 1,087,500 | -100.0% | -$41.6M |
LYFT
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 2,700,000 | 3,800,000 | -28.9% | -$37.7M |
DAL
|
清倉 | 2026-03-31 披露 2026-05-15 | 0 | 475,000 | -100.0% | -$33.0M |
|
RTX
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 342,000 | 500,000 | -31.6% | -$25.7M |
AMD
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 221,400 | 325,000 | -31.9% | -$24.6M |
GT
|
清倉 | 2026-03-31 披露 2026-05-15 | 0 | 2,500,000 | -100.0% | -$21.9M |
|
LHX
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 198,000 | 295,000 | -32.9% | -$18.3M |
|
GLW
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 1,129,500 | 1,570,200 | -28.1% | +$16.1M |
BALL
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 837,000 | 1,200,000 | -30.2% | -$14.1M |
|
LRCX
|
小幅減持 | 2026-03-31 披露 2026-05-15 | 382,500 | 425,000 | -10.0% | +$9.0M |
|
NRG
|
小幅增持 | 2026-03-31 披露 2026-05-15 | 1,734,442 | 1,640,000 | 5.8% | -$7.7M |
ET
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 1,576,125 | 2,191,250 | -28.1% | -$5.7M |
MPLX
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 502,460 | 627,500 | -19.9% | -$4.8M |
|
BIDU
|
大幅增持 | 2026-03-31 披露 2026-05-15 | 692,100 | 575,000 | 20.4% | +$2.0M |
|
ASML
|
大幅減持 | 2026-03-31 披露 2026-05-15 | 49,500 | 62,500 | -20.8% | -$1.5M |
Tepper 在 CNBC 訪談中讨论中国刺激政策、市場流動性、利率和风險資產配置。訪談觀點可以和 13F 持倉變化對照，但难以直接等同于下季度買賣。
Tepper 在 Carnegie Mellon 毕業典礼上回到母校談职業選擇、承担风險、韧性和回馈。它不是持倉解讀，但能帮助理解他從信用和困境資產起家的风險偏好與竞争性格。