David Tepper’s Appaloosa Management has significantly increased its stake in Amazon, nearly doubling the position to make it the fund’s largest holding valued at $900 million. The hedge fund also boosted stakes in Uber and Taiwan Semiconductor, signaling a strong bet on AI and related technology sectors.
Despite trimming positions in companies like Alphabet and Nvidia, these tech giants remain among Appaloosa’s top holdings, highlighting Tepper’s strategic approach to the AI-driven market.
David Tepper's Appaloosa Nearly Doubles Amazon Stake, Bets Big on AI and Semiconductors
By Alex Harring and Yun Li
Published: May 15, 2026
David Tepper, founder of Appaloosa Management, is closely watched on Wall Street for his strategic investments.
David Tepper's Appaloosa Management has made significant strategic adjustments in its equity portfolio during the first quarter, with a pronounced focus on technology and artificial intelligence-related sectors. The hedge fund notably nearly doubled its stake in e-commerce giant Amazon, elevating it to become Appaloosa's largest disclosed equity holding by the end of March, valued at approximately $900 million.
The regulatory filing released Thursday reveals a bullish sentiment from Tepper's firm towards key growth areas. Beyond Amazon, Appaloosa aggressively increased its position in Uber by a remarkable 242%, boosted its holding in Vistra Energy by 114%, and added 18% to its stake in Taiwan Semiconductor. Further strengthening its semiconductor and technology exposure, the fund increased its Micron Technology position by 11% and expanded its investment in the iShares MSCI South Korea ETF (EWY).
A notable addition to Appaloosa's portfolio is a substantial new position in Sandisk, valued at around $179 million at the close of the quarter. These maneuvers underscore Tepper's continued conviction in themes tied to artificial intelligence, including semiconductors, cloud infrastructure, and the burgeoning power demands of data centers.
Conversely, Appaloosa also undertook some portfolio trimming. The hedge fund reduced its stake in Alibaba Group by 33% and trimmed its holdings in Alphabet by 3% and Nvidia by 13%. Despite these reductions, Alphabet, Alibaba, and Nvidia all retained their positions among Appaloosa's top 10 largest disclosed U.S. equity holdings as of the quarter's end.
Tepper, the billionaire founder of Appaloosa Management, is renowned for his ability to make concentrated, high-conviction bets across technology, macro, and cyclical sectors. Wall Street remains keenly observing his investment strategies, particularly his positioning within the AI-driven market rally that has propelled equities to record highs over the past two years.
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