David Tepper Sticks to China Bet While Trimming Nvidia Holdings
- Chinese assets account for 26% of Appaloosa’s stocks holdings
- Tepper cut holdings in Alibaba, but added JD.com, KE Holdings
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Billionaire investor David Tepper held about steady in the Chinese companies that he scooped up earlier this year, even as he trimmed his stakes in Alibaba Group Holding Ltd. and US tech giants.
While Tepper’s Appaloosa Management cut its stake in Alibaba by about 7% in the second quarter, the Chinese e-commerce giant remains the fund’s biggest position, accounting for 12% of its $6.2 billion equity portfolio, according to a 13F regulatory filing Wednesday.