David Tepper's Appaloosa doubles Amazon stake, adds Sandisk

Appaloosa nearly doubled its Amazon stake and added a SanDisk position in the first quarter of 2026, the hedge fund's latest regulatory filing showed on May 15, 2026. The filing covered holdings as of the end of March and identified Amazon as Appaloosa’s largest disclosed equity holding after the change. The move was reported on May 15, 2026 and reflected activity in Q1 2026 that shifted the fund's public equity mix.

Why did Appaloosa increase its Amazon stake?

Appaloosa increased its disclosed Amazon position during Q1 2026, pushing Amazon to the top of its public equity list. Hedge funds often reweight large-cap technology holdings; Amazon's market cap exceeded 1.6 trillion in early 2026, providing liquidity for sizable buys. The filing shows the change as a quarter-end snapshot dated at the end of March, which is the standard 13F reporting date 1.

Institutional managers cite valuation and cash flow metrics when reallocating into mega-cap names. Appaloosa’s repositioning followed broad sector flows into consumer and cloud-exposed stocks in Q1, where tech accounted for a large share of equity buying across funds. For additional context on how funds report equities, see equities.

How large is the Amazon holding in the filing?

The filing identified Amazon as Appaloosa's single largest disclosed equity holding as of March 31, 2026, the quarter cutoff. Form 13F snapshots report holdings by market value at quarter end, so the placement reflects relative book-size rather than intraday trades. The report does not show intraday turnover or trades executed after March 31, 2026.

Regulatory filings list market values in dollars and share counts, and the filing due date is 45 days after quarter end. That 45-day timing creates a data lag between trades and public disclosure, which matters for interpreting position sizes reported for Q1 2026.

What new positions did Appaloosa add in Q1?

The filing shows Appaloosa added exposure to SanDisk-branded assets during Q1 2026, categorized as an addition rather than a reduction. The disclosure lists SanDisk among new or increased positions in the quarter-end schedule dated March 31, 2026. SanDisk is often traded alongside other storage and semiconductor names as funds adjust exposure to hardware cyclicality.

Appaloosa’s SanDisk entry is presented as a discrete line item in the 13F table; the filing shows market value in U.S. dollars for any new positions. For a primer on reading these filings and position tables, consult fund filings.

What limitations and risks should readers note?

13F filings provide a delayed and partial view of a manager’s exposure: they report long equity positions only and exclude shorts, most options, and intraday trading. The 45-day reporting lag means the snapshot dated March 31, 2026 was publicly available on or before May 15, 2026, but trading activity after March 31 is not reflected. That reporting structure creates measurement risk if one interprets the filing as a complete or current statement of Appaloosa’s portfolio.

filings do not disclose a manager’s motive, risk limits, or use. Appaloosa could have used derivatives or pair trades around these equity lines that are invisible in a 13F. Investors should treat the filing as a balance-sheet snapshot with known informational gaps.

Q? Does the filing show whether Appaloosa bought shares or derivatives of Amazon?

No. The 13F lists long equity holdings and reports market value and share counts for registered securities. It does not list options, swaps, or other derivatives and does not disclose short positions. To confirm whether Appaloosa used derivatives, one would need other regulatory disclosures or direct commentary from the fund; the 13F provides only the long-equity snapshot as of March 31, 2026.

Q? When will more complete or current information be available?

More recent 13F data will arrive after the next quarter-end; the filing cycle repeats every quarter with a 45-day deadline. Other filings—such as Form 13D/13G—appear when a holder crosses control thresholds, and Form 4 applies to insider trades; hedge-fund portfolio adjustments rarely trigger those forms unless ownership passes specific legal thresholds. Investors tracking Appaloosa should watch the next quarter filing for changes from the Q1, 2026 snapshot.

Bottom Line

Appaloosa’s Q1 2026 filing shows a larger Amazon position and a new SanDisk entry at the March 31, 2026 snapshot.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. CFD trading carries high risk of capital loss.