事件驱动 / 集中Event-driven / concentrated · famous

Appaloosa

阿帕卢萨

研究可用度中Medium research usability

13F-RS 研究可用度13F-RS research usability 73.7 覆盖coverage 75% · 置信confidence B

结论先行Answer first

前五大占57.7%，最值得继续核验的动作是减持MICRON TECHNOLOGY INCTop five represent 57.7%; reduction in MICRON TECHNOLOGY INC is the clearest next diligence lead

最大可见非期权证券持仓为AMAZON COM INC（15.4%）；季度快照换手代理为21.1%，前十大延续率为100.0%。该机构归入“事件驱动/集中”，13F只能解释公开的美国可报告证券多头。

The largest visible non-option security is AMAZON COM INC (15.4%). The quarterly snapshot turnover proxy is 21.1%, and top-ten persistence is 100.0%. The manager is classified as Event-driven/concentrated; 13F covers only visible reportable U.S. long securities.

最重要的可比减持Most material comparable reductionMICRON TECHNOLOGY INCCOM · CUSIP 595112103股数 -41.4%；上季 9.48% → 本季 14.57%Shares -41.4%; prior 9.48% → current 14.57%减仓影响代理 ≈ 3.93 个百分点Sale-impact proxy ≈ 3.93 pp

最大退出候选Largest apparent exitSANDISK CORPCOM · CUSIP 80004C200本期同一换算后证券未见；上季权重 3.01%No comparable adjusted security this quarter; prior weight 3.01%减仓影响代理 ≈ 3.01 个百分点Sale-impact proxy ≈ 3.01 pp

按上季可见权重 × 股数降幅排序；完整非期权证券变化见下方。Ranked by prior visible weight × share decline; the full non-option security changes appear below.

下一步Next diligence

把减持MICRON TECHNOLOGY INC作为研究线索，结合公司基本面、估值、催化剂及13D/G核验；不要直接跟单。

Treat the reduction in MICRON TECHNOLOGY INC as a research lead and verify fundamentals, valuation, catalysts and any 13D/G filings; do not copy mechanically.

可见总值Visible value$7.73bn前期 2026-03-31: $5.93bn（仅作规模对照）Prior 2026-03-31: $5.93bn (scale context only)

经济持仓数Economic positions27按 CUSIP / 证券类型规范化normalized by CUSIP / security type

前五集中度Top-five concentration57.7%集中度不是能力评分concentration is not skill

季度换手代理Quarterly turnover proxy21.1%范围变化时不估算not estimated when scope changes

前十大延续Top-ten persistence100.0%范围变化时不估算not estimated when scope changes

最新申报日Latest filing date2026-08-14报告期report date 2026-06-30

CIK · accession · accepted date

本季申报链Current filing chain

先展示 13F-NT 关系通知，再展示解析到的 13F-HR / HR-A。价值单位说明保留检测结果和归一化倍数。

Relationship notices appear before resolved 13F-HR / HR-A filings. Unit notes preserve the detection result and normalization multiplier.

法律申报人Legal filer	CIK	Form	Accession	申报日Filed	解析 / 单位说明Resolution / unit note
APPALOOSA LP	CIK 0001656456	13F-HR	0001656456-26-000003	2026-08-14	usd_consistent_with_implied_prices

2026-03-31 → 2026-06-30

持仓与季度变化Holdings and quarterly change

前十大可见非期权证券Top visible non-option holdings 10

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
AMAZON COM INCCOM · CUSIP 023135106	—	$1.19bn	15.43%	5,000,000	15.7%
MICRON TECHNOLOGY INCCOM · CUSIP 595112103	—	$1.13bn	14.57%	975,000	-41.4%
TAIWAN SEMICONDUCTOR MANUFACSPONSORED ADS · CUSIP 874039100	—	$788.0m	10.20%	1,650,000	24.3%
ALPHABET INCCAP STK CL C · CUSIP 02079K107	—	$653.7m	8.46%	1,850,000	6.8%
UBER TECHNOLOGIES INCCOM · CUSIP 90353T100	—	$555.2m	7.19%	7,694,071	21.5%
ISHARES INCMSCI STH KOR ETF · CUSIP 464286772	—	$489.6m	6.34%	2,425,000	1.0%
META PLATFORMS INCCL A · CUSIP 30303M102	—	$380.2m	4.92%	675,000	54.6%
VISTRA CORPCOM · CUSIP 92840M102	—	$351.4m	4.55%	2,215,272	9.5%
NVIDIA CORPORATIONCOM · CUSIP 67066G104	—	$305.1m	3.95%	1,525,000	3.6%
NRG ENERGY INCCOM NEW · CUSIP 629377508	—	$257.1m	3.33%	1,760,000	1.5%

新建仓位New positions 6

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
BOEING COCOM · CUSIP 097023105	—	$173.2m	2.24%	800,000	—
AMERICAN AIRLINES GROUP INCCOM · CUSIP 02376R102	—	$135.5m	1.75%	7,500,000	—
COREWEAVE INCCOM CL A · CUSIP 21873S108	—	$107.3m	1.39%	1,078,248	—
BROADCOM INCCOM · CUSIP 11135F101	—	$56.7m	0.73%	150,000	—
SPACE EXPLORATION TECHN CORPCLASS A COM STK · CUSIP 84615Q103	—	$38.4m	0.50%	225,000	—
GOODYEAR TIRE & RUBR COCOM · CUSIP 382550101	—	$10.0m	0.13%	1,508,591	—

增持仓位Added positions 8

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
TAIWAN SEMICONDUCTOR MANUFACSPONSORED ADS · CUSIP 874039100	—	$788.0m	10.20%	1,650,000	24.3%
META PLATFORMS INCCL A · CUSIP 30303M102	—	$380.2m	4.92%	675,000	54.6%
BAIDU INCSPON ADR REP A · CUSIP 056752108	—	$148.0m	1.92%	1,295,000	87.1%
VISTRA CORPCOM · CUSIP 92840M102	—	$351.4m	4.55%	2,215,272	9.5%
UBER TECHNOLOGIES INCCOM · CUSIP 90353T100	—	$555.2m	7.19%	7,694,071	21.5%
NVIDIA CORPORATIONCOM · CUSIP 67066G104	—	$305.1m	3.95%	1,525,000	3.6%
AMAZON COM INCCOM · CUSIP 023135106	—	$1.19bn	15.43%	5,000,000	15.7%
ALPHABET INCCAP STK CL C · CUSIP 02079K107	—	$653.7m	8.46%	1,850,000	6.8%

减持仓位Reduced positions 5

用公司行动调整后的股数判断，按上季可见权重 × 股数降幅排序；报告权重变化不是交易量。Classified from corporate-action-adjusted shares and ranked by prior visible weight × share decline; reported weight change is not trading volume.

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
MICRON TECHNOLOGY INCCOM · CUSIP 595112103	—	$1.13bn	14.57%	975,000	-41.4%
ALIBABA GROUP HLDG LTDSPONSORED ADS · CUSIP 01609W102	—	$192.0m	2.48%	2,000,000	-42.3%
WHIRLPOOL CORPCOM · CUSIP 963320106	—	$28.2m	0.36%	715,000	-63.3%
QUALCOMM INCCOM · CUSIP 747525103	—	$46.2m	0.60%	250,000	-49.9%
ADVANCED MICRO DEVICES INCCOM · CUSIP 007903107	—	$114.7m	1.49%	197,500	-10.8%

退出候选Apparent exits 10

仅表示排除已知公司事件后，本期未见同一可比证券；到期、退市及未知事件仍须核验。Only means the comparable security is absent after known event checks; maturities, delistings and unknown events still require review.

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
SANDISK CORPCOM · CUSIP 80004C200	—	$178.7m	3.01%	281,250	-100.0%
CORNING INCCOM · CUSIP 219350105	—	$153.6m	2.59%	1,129,500	-100.0%
PDD HOLDINGS INCSPONSORED ADS · CUSIP 722304102	—	$92.0m	1.55%	900,000	-100.0%
L3HARRIS TECHNOLOGIES INCCOM · CUSIP 502431109	—	$68.3m	1.15%	198,000	-100.0%
RTX CORPORATIONCOM · CUSIP 75513E101	—	$66.0m	1.11%	342,000	-100.0%
BALL CORPCOM · CUSIP 058498106	—	$49.5m	0.83%	837,000	-100.0%
JD.COM INCSPON ADS CL A · CUSIP 47215P106	—	$38.6m	0.65%	1,305,000	-100.0%
LYFT INCCL A COM · CUSIP 55087P104	—	$35.9m	0.60%	2,700,000	-100.0%
MICROSOFT CORPCOM · CUSIP 594918104	—	$33.3m	0.56%	90,000	-100.0%
KRANESHARES TRUSTCSI CHI INTERNET · CUSIP 500767306	—	$30.7m	0.52%	1,080,000	-100.0%

期权切片Options slice 2

Put/Call 股数是标的股数；13F 没有执行价、到期日、权利金或净方向。Put/call shares are underlying shares; 13F omits strike, expiry, premium and net direction.

证券Security	Put / Call	申报价值Filed value	权重Weight	股数 / 标的股数Shares / underlying shares	股数变化Share change
APPLE INCCOM · CUSIP 037833100	PUT	$241.6m	3.13%	835,000	—
BERKSHIRE HATHAWAY INC DELCL B NEW · CUSIP 084670702	PUT	$12.5m	0.16%	25,000	—

13F-RS-v1.0

评分拆解Score breakdown

完整方法Full methodology

维度Dimension	得分Score	比例Ratio
申报完整性Filing integrity	15.0 / 15	100%
实体映射Entity mapping	10.0 / 10	100%
策略适配度Strategy fit	7.5 / 15	50%
集中度信息密度Concentration signal	10.0 / 10	100%
高确信度可识别性Conviction identifiability	10.0 / 15	67%
延续性 / 换手Persistence / turnover	8.7 / 10	87%
申报时滞Filing lag	0.0 / 10	0%
不可见风险Opacity risk	7.8 / 10	78%
独立共识Independent consensus	4.7 / 5	94%

策略分类：事件驱动 / 集中。分数衡量公开13F的研究可用度，不评价未来收益。Strategy classification: Event-driven / concentrated. The score measures public-13F research usability, not future returns.

H（高确信度可识别性）当前以单仓≥2%为有限代理，尚未接入风格基准主动权重，因此该分项覆盖度只有50%。H (conviction identifiability) currently uses positions ≥2% as a limited proxy; style-benchmark active weights are not yet available, so this component has only 50% coverage.