Hedge fund manager David Tepper bullish on Chinese internet stocks, increases positions, reduces exposure

From Nasdaq: 2024-05-20 08:00:52

In Q4 2023, David Tepper’s Appaloosa Management disclosed a stake in Alibaba (BABA) along with other Chinese internet stocks.

Appaloosa purchased $91.29 million worth of Chinese internet stocks, including a significant position in KraneShares CSI China Internet ETF ($6.23 billion).

Appaloosa increased its holdings in Alibaba by 158.62% in Q1, also increasing positions in PDD and Baidu while adding a stake in JD.com.

Tepper’s fund reduced exposure to U.S. and Japanese stocks in favor of Chinese equities, cutting allocations to Microsoft, Nvidia, Alphabet, and Meta Platforms.

Appaloosa initiated a position in iShares China Large-Cap ETF (FXI) in the first quarter. Visit ETFTrends for more news, information, and analysis on Chinese internet stocks.



Read more at Nasdaq: Famous Hedge Fund Manager Is Really Bullish on Chinese Internet Stocks