Markets· August 16, 2026 at 09:43 p.m.
Billionaire Investor David Tepper Exits Defense Sector, Narrows Bets on Memory and China
Key takeaways
- David Tepper exited defense companies RTX and L3Harris
- Tepper also exited SanDisk, Corning, PDD Holdings, JD.com, and the KraneShares CSI China Internet ETF
- Tepper trimmed Micron but still holds it as one of his largest positions
- Tepper added to Baidu, betting on AI-powered business
In Q2 2026, David Tepper's Appaloosa Management closed out 12 positions, with notable exits from defense companies Raytheon Technologies (RTX) and L3Harris Technologies (LHX). This move signals a clear directional bet away from the defense sector. Tepper also exited his positions in SanDisk (SNDK), Corning (GLW), PDD Holdings (PDD), JD.com (JD), and the KraneShares CSI China Internet ETF (KWEB). However, he did not completely abandon memory or China, as he trimmed Micron (MU) but still holds it as one of his largest disclosed positions, and added to Baidu (BIDU).
