David Tepper's Appaloosa Management sold its entire SanDisk stake in Q2 2026 and initiated a new position in Broadcom, according to fresh 13F filings. The fund also added to existing Nvidia and Taiwan Semiconductor holdings, continuing its rotation deeper into AI chip infrastructure.
Appaloosa closes out SanDisk after a parabolic run
David Tepper's Appaloosa Management liquidated all 281,250 of its SanDisk shares during the second quarter, cashing out of a position worth roughly $179 million at the prior quarter's end, according to the fund's 13F filing submitted on August 14. SanDisk stock had already surged 591% year-to-date through mid-August, touching a peak of $2,354.39 on June 22. Filings show Appaloosa opened the position in the first quarter of 2026 and exited completely the following quarter. Exact entry and exit prices are private, but the timing alone implies substantial gains.
Broadcom picks up the freed-up capital
Appaloosa used part of the proceeds to initiate a new stake in Broadcom, which designs custom AI accelerators known as XPUs alongside hyperscale customers rather than selling general-purpose chips. Broadcom builds Google's Tensor Processing Units and Meta Platforms' MTIA chips, and has expanded relationships with OpenAI, Anthropic, and Apple. Management has guided for more than $100 billion in AI semiconductor revenue by fiscal 2027.
Nvidia and Taiwan Semiconductor also get bigger bets
Beyond Broadcom, the fund added to its existing positions in Taiwan Semiconductor Manufacturing and Nvidia, two companies that sit at the center of the AI chip supply chain. Appaloosa also opened a new stake in CoreWeave and trimmed its Micron Technology holding by 690,000 shares, though it kept a remaining position worth around $1.125 billion as of June 30. The fund's memory-chip holdings helped drive a 32% return in the first half of 2026.
Tepper's rotation reflects disciplined capital allocation rather than an endorsement of any single stock.
Sources: Motley Fool, Crypto Briefing
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