David Tepper's Appaloosa Management closes out 12 positions to narrow focus on single-name conviction plays.
David Tepper's Appaloosa Management closed out 12 positions entirely in the Q2 2026 13F filing. The fund is shifting its strategy by narrowing sprawling thematic bets into single-name conviction plays. Key exits include SanDisk, RTX, and L3Harris Technologies, despite strong performance or guidance from some of these names. While Tepper exited SanDisk, the stock experienced a significant price drop in July before rebounding recently. He also completely dismantled his defense positions, exiting both RTX and L3Harris Technologies. In contrast, Tepper maintained a significant stake in Micron, showing that he is not abandoning the memory sector entirely. He also added to his position in Baidu, signaling a continued interest in China's AI narrative. These moves suggest a structural shift in portfolio construction rather than a simple bearish call on specific industries.