Billionaire investor David Tepper's Appaloosa Management reduced its position in Micron Technology (MU) by 41.4% during the second quarter of 2026, according to a recent SEC filing. This disclosure, which reflects holdings as of June 30, 2026, shows the firm sold approximately 695,000 shares, though the value of the holding increased significantly due to a sharp rise in Micron's stock price.
The move appears to be a case of profit-taking after an exceptional run for the semiconductor company, which saw its shares surge on strong demand for its memory chips used in AI applications. Despite the sale, Micron remains one of Appaloosa's largest holdings, highlighting a continued significant conviction in the name even after securing substantial gains.