American billionaire hedge fund manager David Tepper is bullish on China. Tepper is the founder and president of Appaloosa Management, a global hedge fund.
He is also the owner of the Carolina Panthers of the National Football League and Charlotte FC in Major League Soccer.
David Tepper Piling Into China, Trimming Off U.S. Tech
According to his fund's latest 13F filing, Tepper loaded up on Alibaba Group Holdings (NYSE:BABA) stock and trimmed stake in U.S. technology behemoths including Nvidia Corp (NASDAQ:NVDA), Microsoft Corp (NASDAQ:MSFT), Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), among other big names.
Also Read: David Tepper's Appaloosa Management Q1 Portfolio Positioning: More Caesers Entertainment, Alibaba, Amazon, Microsoft; Less Semiconductor Stocks
Alibaba, FXI, PDD ... Now Among Top Holdings
Alibaba, his fund's fifth-largest holding until last quarter, is now his hedge fund's number-one holding. The stock now commands 12.05% of the Appaloosa portfolio (up from the 5.82% earlier). Tepper first bought Alibaba stock for the Appaloosa fund, back in the second quarter of 2022. With the additional 6.9 million shares bought, Appaloosa owns 0.41% of the company.
Among Tepper's other top buys in first quarter 2024 was the iShares China Large-Cap ETF (NYSE:FXI). FXI is a new holding for the Appaloosa fund. With 6.375 million shares bought into the fund, FXI commands 2.27% of the portfolio. Another China-based top buy for the Appaloosa portfolio this quarter was PDD Holdings– ADR (NASDAQ:PDD). With 1.325 million shares bought in the first quarter of 2024, the stock now commands 3.61% of the Appaloosa portfolio.
Other stocks of China-based companies that are part of the fund include: BaiduInc (NASDAQ:BIDU) commanding 2.81% of the fund, JD.com (NASDAQ:JD), 1.48%; and the KraneShares CSI China Internet ETF (NYSE:KWEB), 1.35%.
Top Sells Include Many Of The Magnificent Seven
While Tepper is going all bull on China, he trimmed his stake in U.S. technology giants. These include many of the Magnificent Seven stocks:
His top sells in the first quarter of 2024 included:
Company
Previous % Portfolio
Current % of Portfolio
Meta Platforms Inc (NASDAQ:META)
11.31%
8.07%
Microsoft Corp (NASDAQ:MSFT)
11.04%
8.72%
Intel Corp (NASDAQ:INTC)
3.99%
2.45%
Amazon.com Inc (NASDAQ:AMZN)
10.36%
10.22%
Nvidia Corp (NASDAQ:NVDA)
6.76%
5.91%
Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL)
5.60%
4.68%
Data Source: 13F filing, Whalewisdom
Tepper added Adobe Systems, Inc. (NASDAQ:ADBE) and Oracle Corp. (NASDAQ:ORCL), which were among his top buys for the quarter.
The news has been driving China-based companies' stocks up. Alibaba stock was up 7% and iShares China Large-Cap ETF was up 2.5% by Noon ET, Thursday.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
Also Read: David Tepper's Appaloosa Management Q1 Portfolio Positioning: More Caesers Entertainment, Alibaba, Amazon, Microsoft; Less Semiconductor Stocks
また読む:デイビッド・テッパーのアパルーサ・マネジメントQ1ポートフォリオポジショニング：より多くのCaesers Entertainment、アリババ、アマゾン、マイクロソフト；半導体株は少なくなりました