Billionaire David Tepper sold tech giants but increased stakes in Alibaba, Oracle, and PDD Holdings

From NASDAQ: 2024-05-23 05:49:00

In the first quarter, billionaire investor David Tepper sold shares of Amazon, Google parent Alphabet, Microsoft, Facebook parent Meta Platforms, and Nvidia, but increased Appaloosa Management’s stake in Alibaba Group Holding, Oracle, and PDD Holdings significantly.

Alibaba is now Tepper’s largest holding after a 159% increase, with strong year-to-date performance and a low valuation. Tepper likely appreciates Alibaba’s growth strategy and lower price multiples.

Appaloosa Management increased its position in Oracle by 74% in Q1, attracted by the company’s cloud business and AI growth drivers.

PDD Holdings ranks as the ninth-largest holding in the hedge fund’s portfolio after Tepper bought over 1.3 million shares in Q1, with a rebound in stock performance and strong Q1 results.

Tepper seems to favor Alibaba, Oracle, and PDD over Amazon, Alphabet, Microsoft, Meta, and Nvidia due to their cheaper valuations and growth potential.

Considerations about the Chinese government’s impact on investment decisions may influence choices among the top holdings, including Alibaba, Oracle, and PDD.

Investors are advised to consider other stock options beyond Alibaba Group, as recommended by The Motley Fool analyst team, for potential monster returns in the future.



Read more at NASDAQ: Billionaire David Tepper Sold Amazon, Alphabet, Microsoft, Meta, and Nvidia in Q1. But Here Are 3 AI Stocks He Bought Hand Over Fist