By Anita Hamilton
Hedge fund Appaloosa, run by billionaire David Tepper, took an axe to many of its stock holdings in the first quarter of the year, reducing the size of its overall portfolio by nearly a billion dollars compared to the end of 2025 to just under $6 billion.
The fund made the deepest cuts to its tech portfolio, bringing its shares of Chinese tech firm Alibaba down to just 3.5 million, from 5.1 billion, for a decrease of $318 million in total value at the end of March, according to the fund's latest 13-F filing with the Securities and Exchange Commission. It also shed 410,000 shares of Microsoft, leaving it with just 90,000 shares valued at $33 million.
The fund also exited its positions in three airline stocks -- American, Delta, and United -- as higher fuel costs cut into airlines' margins amid the Iran war. Its largest airline holding at the end of last year had been American; in the first quarter, Appaloosa eliminated all 14.1 million shares of it, which were valued at around $217 million.
The biggest addition was some 2.1 million more shares of Amazon, raising the value of those holdings by nearly $400 million for a total of $900 million, the 13-F filing showed. That makes Amazon the fund's largest single holding by market value as of March 31.
Other additions include a new stake in flash memory maker Sandisk of 281,250 shares valued at around $179 million, as well as 4.5 million more shares of Uber, bringing Appaloosa's total Uber holdings to $455 million. The fund also increased its holdings of chip firms Micron and Taiwan Semiconductor.
Write to Anita Hamilton at anita.hamilton@barrons.com
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(END) Dow Jones Newswires
May 15, 2026 18:44 ET (22:44 GMT)
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