David Tepper Sells 41% of Micron Shares, Still Holds Second-Largest Stake
Appaloosa Management, the hedge fund managed by David Tepper, sold 690,000 shares of Micron Technology in Q2, reducing its stake by 41%. Despite this sale, it still holds $1.13 billion worth of Micron stock — representing about 15% of Appaloosa's equity portfolio and the fund’s second-largest position after Amazon. Micron saw a massive price increase during the quarter, rising over 240%, which offset the reduced share count in value terms. The remaining stake is now larger than it was at the beginning of Q2 both in dollar amount and as a percentage of Appaloosa's portfolio. While this could suggest profit-taking, reports indicate that Appaloosa continued to buy memory stocks after the quarter ended. Micron’s strong performance has been driven by surging demand from AI data centers, with revenue reaching $41.5 billion in Q3 2026 — a more than fourfold increase year-over-year. However, growth is slowing compared to previous quarters and will likely face cyclical downturns typical of the memory sector.
Topics: 13F Filing Appaloosa Management Micron Technology Stock Ownership