David Tepper's Appaloosa Management completely sold its stake in SanDisk (SNDK) during the second quarter of 2026, according to a recent SEC filing. The firm exited its position of 281,250 shares, which was valued at approximately $178.69 million at the end of March. As with all 13F filings, this disclosure reflects trades made by June 30 and was reported publicly on August 14, so the firm's current holdings may differ.
The sale appears to be part of a broader strategic shift for the prominent hedge fund. After achieving a 32% return in the first half of 2026, largely driven by memory-chip makers, Tepper's fund also significantly trimmed its position in Micron. The move to exit SanDisk, whose stock had surged over 590% year-to-date, suggests Appaloosa was taking profits from its high-flying chip investments and reallocating capital into other AI-related sectors.