David Tepper’s Appaloosa Management more than doubled its in...
David Tepper’s Appaloosa Management more than doubled its investment in Alibaba$Alibaba (BABA.US)$in the first three months of the year, making the Chinese e-commerce giant the biggest position in its$6.7 billionequity portfolio. The fund also raised its stakes in$PDD Holdings (PDD.US)$and$Baidu (BIDU.US)$, while adding$JD.com (JD.US)$and two Chinese ETFs as new buys during the quarter. At the same time, Tepper scaled back on companies including$JD.com (JD.US)$and two electronic vehicle makers,$NIO Inc (NIO.US)$and$Li Auto (LI.US)$.