Billionaire David Tepper, founder of Appaloosa Management, aggressively took profits on Chinese tech and some Mag 7 mainstays while doubling down on a recovery play in the semiconductor sector.
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The Big Bet on Micron
Tepper’s Appaloosa turned red-hot for Micron Technology, Inc. (NASDAQ:MU). The filing reveals a staggering 250% increase in Micron shares, with Appaloosa adding exactly 1,000,000 shares during the quarter.
The fund’s total position in Micron is now 1.5 million shares, valued at over $428 million.
Tepper appears to be moving “down the stack,” seeking value in the hardware components that power AI rather than the chip designers themselves.
Trimming the Tech Titans
Another striking move in the filing was the significant reduction in Alibaba Group Holding Ltd. (NYSE:BABA). Appaloosa slashed its stake by over 1.3 million shares, a 20.3% reduction.
Despite the cut, Alibaba remains the fund’s largest individual holding, representing 10.88% of the total portfolio—down from a dominant 15.61% in the previous quarter.
Tepper also hit “sell” on other tech heavyweights:
- Amazon (NASDAQ:AMZN): Reduced by 12.8%, or roughly 320,000 shares.
- Nvidia (NASDAQ:NVDA): Trimmed by 10.5%, liquidating 200,000 shares.
Tactical Shifts
Tepper showed renewed interest in Meta Platforms (NASDAQ:META), boosting the stake by over 62%, and continued his steady accumulation of Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) and Alphabet, Inc. NASDAQ:GOOG) as well.
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