David Tepper's Appaloosa Sells Entire Sandisk Stake Amid Sharp Stock Rise
Appaloosa Management, led by David Tepper, sold its entire stake in SanDisk during the second quarter of this year. The fund held approximately 281,250 shares at the end of March, valued around $179 million, but reported zero holdings as of June 30 after a significant surge in Sandisk's stock price. Sandisk reached an all-time high on June 22 before retreating by about 31% from that peak. The fund also reduced its position in Micron Technology during the same period, trimming it by nearly 41%, though both stocks saw massive gains—Micron’s shares rose over 240%. Despite selling memory stocks, Appaloosa ended up with a larger dollar value in these holdings due to their strong performance. The fund shifted its capital toward AI-related companies and the so-called 'Magnificent Seven,' increasing stakes in Amazon and Taiwan Semiconductor. Notably, despite reporting reduced positions during Q2, Appaloosa reportedly re-entered memory stocks after the quarter ended as prices corrected.
Topics: 13F filing Appaloosa Management Micron Sandisk stock trading