Tepper exited SanDisk after a 591% run and trimmed Micron, rotating profits into power utilities Vistra and NRG, both trading below 16x forward earnings. Tepper pushed Amazon to 5 million shares and opened a new CoreWeave stake, targeting AI infrastructure layers that collect revenue regardless of which chipmaker wins. The most widely read finance newsletter on Substack isn't published by a bank, it's Doomberg, where 383,000+ readers get the energy and macro analysis the mainstream press misses. 24/7 Wall St. readers save 17% on their first year here.
David Tepper's Appaloosa Management filed its Q2 2026 13F on August 14, 2026, and the disclosure told a specific story: the hedge fund manager whose portfolio returned 32% in the first half of 2026 on memory-chip makers spent the second quarter pulling chips off that table and reallocating the winnings deeper into the AI stack. He trimmed Micron Technology (NASDAQ:MU) by 690,000 shares to 975,000, a position still valued at $1,125,432,750, and exited SanDisk (NASDAQ:SNDK) entirely, dumping all 281,250 shares. Remember, this is a point-in-time snapshot as of June 30, 2026, disclosed roughly 45 days later.
Positions today can differ. Still, it's interesting to review Tepper's portfolio as he's been ahead of the curve on many AI bets. The trim extended beyond memory.
Tepper also cut fabless chip designers: Advanced Micro Devices was reduced by 23,900 shares to 197,500, and Qualcomm was cut by 248,613 shares to 250,000. AMD is up 140.19% year-to-date; Micron has run 240.65%; SanDisk has ripped 591.34%. The proceeds moved largely to some of the biggest stocks in the AI trade.
Tepper added 680,000 shares to Amazon, pushing that line to 5,000,000 shares worth $1,191,700,000, now his largest disclosed position. He added 322,500 shares to Taiwan Semiconductor Manufacturing, lifting it to 1,650,000 shares valued at $787,990,500, and topped up NVIDIA by 53,500 shares. He also opened a brand new stake in CoreWeave of 1,078,248 shares ($107,328,806).
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