From CNBC: 2024-05-15 17:21:16

Billionaire investor David Tepper’s hedge fund, Appaloosa Management, increased bets on Chinese tech stocks like Alibaba, PDD Holdings, and Baidu in Q1 of 2024, making them top holdings. The fund also added Chinese-focused stocks like Adobe and JD.com. Appaloosa trimmed positions in American tech names like Alphabet and Meta Platforms. Tepper founded Appaloosa over 30 years ago and holds put options against Microsoft. Chinese tech stocks have been performing well, with the KWEB ETF up 19% in Q2. Tepper hinted at converting the fund into a family office back in 2019.



Read more at CNBC: David Tepper’s Appaloosa is betting big on Chinese tech stocks