Billionaire David Tepper Boosts Positions in Amazon and Uber – Sells Off Airline Stocks

TLDR

• Appaloosa’s portfolio shrank by nearly $1 billion in Q1 2026, falling to just under $6 billion.
• Amazon is now the fund’s largest holding after Tepper added 2.1 million shares, worth $900 million total.
• Alibaba holdings were cut from 5.1 billion to 3.5 million shares, a drop of $318 million in value.
• Appaloosa fully exited American, Delta, and United Airlines amid rising fuel costs.
• New positions include Sandisk and an expanded stake in Uber, now worth $455 million.

(SeaPRwire) –   Billionaire hedge fund manager David Tepper reduced Appaloosa’s portfolio by almost $1 billion during the first quarter of 2026, bringing total assets down to just under $6 billion. These changes were disclosed in the fund’s most recent 13-F filing with the Securities and Exchange Commission.

The most significant gain came from Amazon. Tepper increased his position by purchasing an additional 2.1 million shares, raising the total value of this investment to approximately $900 million. Amazon now accounts for about 15% of the portfolio and has become Appaloosa’s single largest holding.

Amazon.com, Inc., AMZN

Uber also experienced substantial growth. Appaloosa acquired another 4.5 million shares, more than tripling its original stake. The current Uber position is valued at $455 million and ranks among the top five investments in the portfolio.

Tech Cuts and New Bets

On the selling front, Alibaba suffered the largest decline. Appaloosa dramatically reduced its holdings from 5.1 billion shares to only 3.5 million, resulting in a $318 million decrease in value. Microsoft was also trimmed, with 410,000 shares sold and the remaining 90,000 shares carrying a market value of $33 million.

New investments were made in several technology companies. Appaloosa established a new position in flash memory manufacturer Sandisk by acquiring 281,250 shares for roughly $179 million. The fund also increased its exposure to Micron and Taiwan Semiconductor.

Alphabet continues to represent around 8% of the portfolio. Micron holds a similar weight at 9%, while Taiwan Semiconductor makes up 8%.

Airlines Cleared Out

In Q1, Appaloosa completely liquidated all three of its airline holdings—American Airlines, Delta Air Lines, and United Airlines. The American Airlines position alone consisted of 14.1 million shares with a value of about $217 million as of December 31, 2025.

The decision to exit these positions coincided with mounting pressure on airline profitability due to escalating fuel prices, which have been exacerbated by geopolitical tensions linked to the ongoing conflict involving Iran.

At the close of Q4 2025, American Airlines had been the fund’s largest airline investment. By March 31, 2026, Appaloosa held no airline stocks whatsoever.

This strategic shift reflects a deliberate pivot away from the travel sector and toward technology platforms and consumer-focused digital services.

Tepper’s Q1 adjustments signal a more focused portfolio strategy, featuring fewer but larger positions centered on Amazon, Micron, Uber, and Taiwan Semiconductor.

The referenced 13-F filing provides a snapshot of holdings as of March 31, 2026, and was officially submitted to the SEC.