Appaloosa sells AI memory stocks, boosts Magnificent Seven holdings

David Tepper made a fortune riding the AI memory-chip wave. Now he’s cashing some of those chips in, quite literally, and plowing the proceeds into the largest technology companies on the planet. Appaloosa Management’s latest 13F filing reveals a portfolio worth roughly $7.47B across 27 holdings as of June 30, 2026. The hedge fund posted 32% gross returns in the first half of the year, fueled largely by memory stocks tied to AI infrastructure. The rotation in detail Appaloosa’s top holding is now Amazon, commanding about 15.95% of the portfolio. Micron Technology sits just behind at 15.06%, followed by Taiwan Semiconductor at 10.55%, Alphabet at 8.75%, and Uber at 7.43%. Earlier in 2026, Appaloosa tripled its Micron position, adding roughly 1 million shares to bring its total to 1.5 million. That bet paid handsomely as demand for high-bandwidth memory and NAND flash components surged alongside the buildout of AI data centers. Micron ramped HBM capacity aggressively while SK Hynix cemented its role as a key supplier to Nvidia. But the Q2 filing suggests Tepper started trimming around the edges of the memory trade even while Micron remains the fund’s second-largest position. The dire...