A billionaire hedge fund manager made significant changes to his portfolio in the second quarter, selling off the fastest-growing major U.S. stock of the year and increasing exposure to artificial intelligence (AI) companies.
David Tepper’s fund, Appaloosa, completely divested from SanDisk shares during this period. Meanwhile, approximately 77% of the fund’s invested assets were allocated to companies where AI plays a crucial role in driving growth.
Key positions in the fund included Amazon, Taiwan Semiconductor, and Nvidia, with a portfolio value exceeding $7.7 billion by the end of June.
In addition to boosting investments in Amazon and Taiwan Semiconductor, Appaloosa maintained positions in chip design, chip manufacturing, and cloud infrastructure sectors.
SanDisk had experienced a significant surge in 2026, with its stock price soaring over 500% due to high demand for its high-speed memory products used in data centers.
Appaloosa also reduced exposure to other memory-chip companies, including a substantial decrease in its holdings of Micron. The fund’s 13F filing, reflecting its holdings as of June 30, was submitted on August 14.
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Image Credit: Midjourney
