Appaloosa LP increased holdings in Meta and Alphabet by $130M and $157M respectively while reducing Micron exposure by 41%.
Billionaire David Tepper’s Appaloosa LP disclosed Q2 2026 holdings, revealing a $1.19 billion stake in Amazon as its top position, comprising 15.42% of the portfolio. The firm added $157 million to Alphabet and $130 million to Meta while slashing Micron Technology shares by 41% and exiting Microsoft entirely.
As of June 30, 2026, the portfolio’s second-largest holding was Micron at $1.13 billion, though the position was reduced significantly. Tepper also increased exposure to NVIDIA by $49 million, aligning with a broader shift toward AI infrastructure and ad-driven revenue models. AWS revenue reached $42 billion, while NVIDIA’s data center segment hit $75 billion, up 92% year-over-year.
The filing highlights a concentrated bet on five mega-cap AI stocks: Amazon, Micron, Taiwan Semiconductor, Meta, and Alphabet. The moves reflect a strategic rotation away from traditional cloud plays toward companies leveraging AI-driven growth.