Billionaire Investor David Tepper Bets Big on AMD and Nvidia, Maintains Bullish Stance on Banks

David Tepper’s Appaloosa Management made significant moves in Q3 2025, reshuffling its semiconductor exposure with a new position in Advanced Micro Devices (AMD) and an increased stake in Nvidia (NVDA). The hedge fund’s 950,000-share initiation in AMD and 150,000-share addition to NVDA reflect strong confidence in the AI and data center boom.

Alibaba (BABA) remains Appaloosa’s largest holding despite an 8.7% reduction, now valued at $1.15 billion and constituting 15.6% of the portfolio. Amazon (AMZN) holds its position as the second-largest holding, though the fund trimmed its stake by 7.4%. Notably, Appaloosa exited positions in Intel (INTC) and Oracle (ORCL).

The most striking MOVE was Appaloosa’s massive bet on Whirlpool (WHR), boosting its position from 266,000 shares in Q2 to 5.50 million shares. The $432.3 million stake now ranks as the fund’s third-largest holding, signaling Tepper’s conviction in the struggling appliance maker’s potential.