David Tepper sells SanDisk, trims Micron, boosts Amazon and CoreWeave investments.

Billionaire investor David Tepper has made significant adjustments to his investment portfolio, selling out of SanDisk and trimming his stake in Micron Technology, as revealed in his recent Q2 2026 filing. Tepper's hedge fund, Appaloosa Management, exited its entire position in SanDisk, which had surged 591% in value, and reduced its Micron holdings by 690,000 shares to a remaining total of 975,000 shares, still valued at over $1.1 billion.

This reallocation comes as Tepper shifts his focus toward artificial intelligence (AI) investments and power utility stocks. His moves reflect ongoing trends in the market, particularly the growing importance of AI infrastructure in the tech sector. Tepper has significantly increased his holding in Amazon, adding 680,000 shares to reach a total of 5 million shares, making it his largest disclosed position. He also opened a new stake in CoreWeave, a company involved in AI infrastructure, which is designed to generate revenue regardless of the performance of specific chipmakers.

Alongside these tech investments, Tepper has made notable additions in the energy sector. He increased his position in Vistra by 192,940 shares and NRG Energy by 25,558 shares. These utility companies, often overlooked in the tech-driven market, are trading at attractive valuations, with both stocks currently below 16 times forward earnings. While the AI chipmakers have seen significant price increases this year, Vistra and NRG have underperformed, with declines of 7.91% and 19.95%, respectively.

Tepper's strategy highlights an evolving investment landscape where the integration of AI and energy is becoming crucial. His focus on underappreciated energy producers alongside major tech players indicates a belief in the potential for growth in these areas, despite their current market challenges. As Tepper reallocates profits from memory chip manufacturers to these new sectors, investors will be watching closely to see how these choices play out in the coming months.