TLDR
- David Tepper’s Appaloosa Management increased stakes in Alphabet, Micron, Meta, Taiwan Semiconductor, and Microsoft in Q4
- Tepper tripled his Micron position to 1.5 million shares as memory chips sold out for the year
- Alphabet exceeded $400B in annual revenue for the first time, with Google Cloud up 48%
- Meta reported Q4 revenue of $59.89B but faces concern over $115–$135B AI infrastructure spending plan
- Microsoft is down over 25% from its all-time high, trading at a historically low valuation
Billionaire investor David Tepper filed his quarterly 13F disclosure on Feb. 17, showing moves made by his hedge fund, Appaloosa Management, in the fourth quarter. The fund holds just 45 stocks, and Tepper made changes to five of his top 10 holdings.
Tepper increased his stake in Alphabet by 28.7%, adding 399,431 shares and bringing it to about 8.1% of the portfolio. Alphabet reported annual revenue above $400 billion for the first time, with Google Cloud growing 48% year-over-year to $17.7 billion. The company recently overtook Apple and Microsoft as America’s most profitable company.
Micron was the biggest position change. Tepper tripled his stake, going from 500,000 shares to 1.5 million. The company’s memory chips are sold out for the year due to AI data center demand. Micron’s Q4 revenue came in at $13.64 billion with EPS of $4.78, beating estimates.
Micron and Meta: Two Very Different Bets
Micron stock is up 348% over the past year and 35% year-to-date. The company is investing $200 billion in new facilities, including two fabs in Idaho totaling $50 billion and a new factory near New York worth $100 billion.
Tepper increased his Meta position by 62% in Q4, but that trade has performed poorly. Meta reported Q4 revenue of $59.89 billion and EPS of $8.88, beating estimates. However, the stock dropped heavily after Q3 results on concerns about AI spending.
Meta has guided for $115 to $135 billion in AI infrastructure spending in 2026. Out of its Q4 revenue, $58.1 billion came from advertising. The stock is currently down from its all-time high and has not rebounded.
Taiwan Semiconductor was another addition in Q4. The company manufactures most of the high-end logic chips used in AI hardware, making it a direct beneficiary of data center spending by major tech firms.
Microsoft Trades at Historically Low Valuation
Microsoft saw only an 8% increase in Tepper’s position during Q4. The stock fell sharply after its last earnings report and is now down more than 25% from its all-time high. It is trading at a price-to-earnings ratio lower than it has seen in some time.
Appaloosa’s next 13F filing, covering Q1 2026, is due around mid-May. That filing will show whether Tepper added to Microsoft during the current quarter.
Alphabet stock is currently trading around $307. Micron is trading around $415. Meta is trading around $655.
Considering a new stock? You may want to see what’s on our watchlist first.
Our team at Knockout Stocks follows top-performing analysts and market-moving trends to spot potential winners early. We’ve identified five stocks gaining quiet attention that could be worth watching now. Create your free account to unlock the full report and get ongoing stock insights.Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
