Overview
- The fund’s Q2 2026 13F, filed August 14, reports full exits from 12 positions including SanDisk, Corning, JD.com, PDD and the KWEB China internet ETF, reducing disclosed holdings from 31 to 27.
- Tepper trimmed major memory and chip stakes by cutting Micron to 975,000 shares and reducing positions in AMD and Qualcomm after strong first‑half gains.
- Proceeds were redeployed into concentrated AI plays, with Amazon raised to 5,000,000 shares as the largest disclosed holding and additions to NVIDIA, TSMC and a new CoreWeave stake.
- Appaloosa also increased exposure to power generators Vistra and NRG to position for rising electricity demand from data centers and AI workloads, citing business moves such as Vistra’s Helix venture and NRG’s Texas buildouts.
- The 13F is a delayed, point‑in‑time snapshot that does not show shorts, many derivatives, or trades after June 30, so positions may have changed since the filing; the moves overall signal a shift from broad thematic baskets to higher‑conviction single‑name and infrastructure bets.