Appaloosa Management exited $1.1 billion in positions, shifting to high-conviction single stocks over thematic bets.
Billionaire investor David Tepper’s Appaloosa Management liquidated 12 stock positions in Q2 2026, including SanDisk (SNDK) and Corning (GLW), which fell 28% and 35% post-exit. The fund’s $1.1 billion reduction targeted memory and defense sectors, with no replacements for RTX or L3Harris holdings.
The moves reflect a pivot from broad thematic bets to concentrated single-name plays, despite a 32% first-half 2026 return driven by memory-chip stocks. Tepper retained positions in Micron and added to Baidu, signaling confidence in select names over sector-wide exposure.
The Q2 13F filing, released August 14, 2026, also showed exits from PDD, JD.com, and the KraneShares CSI China Internet ETF, underscoring a narrower focus on high-conviction equities.