A billionaire hedge fund chief has abruptly dumped the fastest-growing major U.S. stock of the year, while dramatically boosting his fund’s AI exposure.
David Tepper’s Appaloosa sold every SanDisk share in the second quarter.
At the same time, about 77% of the fund’s invested assets sat in companies where AI is a core growth driver.
Amazon, Taiwan Semiconductor, and Nvidia were among the largest positions.
Appaloosa ended June with 27 holdings and a portfolio of more than $7.7 billion.
The fund added to Amazon and Taiwan Semiconductor and kept a stake across chip design, chip manufacturing, and cloud infrastructure.
SanDisk had jumped more than 500% in 2026 on demand for high-speed memory used in data centers.
Appaloosa also cut other memory-chip exposure, including a large trim in Micron. The 13F covers holdings as of June 30 and was filed Aug. 14.
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