APPALOOSA LP

APPALOOSA LP declares $5.7B in 15 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 73.5% of its $7.7B 13F portfolio. Largest positions: Amazon (0.05% of the company) and Micron (0.09% of the company). Over time: $5.7B in 15 of these companies for Q2 2026, against $2.4B in 8 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $701.9M and sold $1.2B of these stocks, at the quarter's prices: a net sale of $520.0M; 2 new positions and 3 sold out.

Performance of its AI picks

The AI-stock portfolio APPALOOSA LP declared for Q2 2026 (Form 13F), held unchanged, returned -2.4% in Q3 2026 (SMH -7.1%), ranked 1432 of 1,785 active managers. Over the last 12 months, quarter after quarter: +68.2% (SMH +87.2%), ranked 83 of 1,360 active managers. Over three years, quarter after quarter: +283.3% (SMH +325.8%), ranked 39 of 784 active managers. Over five years, quarter after quarter: +257.0% (SMH +389.8%), ranked 38 of 535 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

1. Amazon (AMZN): $1.2B, 5.0M shares, 0.05% of the company, 15.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
2. Micron (MU): $1.1B, 975,000 shares, 0.09% of the company, 14.6% of its portfolio (trimmed this quarter); held since Q2 2023
3. TSMC (TSM): $788.0M, 1.6M shares, 0.03% of the company, 10.2% of its portfolio (added this quarter); held since Q2 2023
4. Alphabet (GOOGL): $653.7M, 1.9M shares, 0.01% of the company, 8.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
5. Meta Platforms (META): $380.2M, 675,000 shares, 0.03% of the company, 4.9% of its portfolio (added this quarter); held since Q4 2019 or earlier
6. Vistra (VST): $351.4M, 2.2M shares, 0.65% of the company, 4.5% of its portfolio (added this quarter); held since Q3 2024
7. NVIDIA (NVDA): $305.1M, 1.5M shares, 0.01% of the company, 3.9% of its portfolio (added this quarter); held since Q1 2023
8. NRG Energy (NRG): $257.1M, 1.8M shares, 0.84% of the company, 3.3% of its portfolio (added this quarter); held since Q3 2024
9. Lam Research (LRCX): $165.7M, 382,500 shares, 0.03% of the company, 2.1% of its portfolio; held since Q2 2023
10. AMD (AMD): $114.7M, 197,500 shares, 0.01% of the company, 1.5% of its portfolio (trimmed this quarter); held since Q3 2025
11. CoreWeave (CRWV): $107.3M, 1.1M shares, 0.19% of the company, 1.4% of its portfolio (new position this quarter)
12. ASML (ASML): $99.5M, 50,000 shares, 0.01% of the company, 1.3% of its portfolio (added this quarter); held since Q2 2023
13. Broadcom (AVGO): $56.7M, 150,000 shares, 0.00% of the company, 0.73% of its portfolio (new position this quarter)
14. Qualcomm (QCOM): $46.2M, 250,000 shares, 0.02% of the company, 0.60% of its portfolio (trimmed this quarter); held since Q2 2023
15. SpaceX (SPCX): $38.4M, 225,000 shares, 0.00% of the company, 0.50% of its portfolio

By sector

• Cloud & AI giants: $2.3B, 40% of its AI holdings, 4 companies
• Chips & compute: $1.3B, 23% of its AI holdings, 5 companies
• Memory & storage: $1.1B, 20% of its AI holdings, 1 company
• Power, electrical & cooling: $608.5M, 11% of its AI holdings, 2 companies
• Equipment & test: $265.2M, 5% of its AI holdings, 2 companies
• Neoclouds & data centers: $107.3M, 2% of its AI holdings, 1 company

Biggest changes this quarter

• trimmed Micron (MU): -$796.5M at the quarter's price
• sold out of Sandisk (SNDK): -$178.7M at the quarter's price
• added to Amazon (AMZN): +$162.1M at the quarter's price
• added to TSMC (TSM): +$154.0M at the quarter's price
• sold out of Corning (GLW): -$153.6M at the quarter's price
• added to Meta Platforms (META): +$134.3M at the quarter's price
• opened a position in CoreWeave (CRWV): +$107.3M at the quarter's price
• opened a position in Broadcom (AVGO): +$56.7M at the quarter's price
• trimmed Qualcomm (QCOM): -$45.9M at the quarter's price
• added to Alphabet (GOOGL): +$41.4M at the quarter's price

Other holders of this size

• Fuller & Thaler Asset Management, Inc.: $5.7B in 54 of these companies
• CAPSTONE INVESTMENT ADVISORS, LLC: $5.7B in 104 of these companies
• Mediolanum International Funds Ltd: $5.6B in 84 of these companies
• ZACKS INVESTMENT MANAGEMENT: $5.7B in 104 of these companies
• LBP AM SA: $5.6B in 84 of these companies
• Clark Capital Management Group, Inc.: $5.8B in 75 of these companies
• OFI INVEST ASSET MANAGEMENT: $5.6B in 75 of these companies
• Erste Asset Management GmbH: $5.8B in 87 of these companies

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