Billionaire Investor Trims Alibaba After Saying Buy 'Everything' China
- Tepper added exposure in PDD, JD while cutting Alibaba, KWEB
- Chinese assets account for 38% of Appaloosa’s Q3 holdings
Turns out that Billionaire investor David Tepper, who said recently he would buy “everything” China-related amid Beijing’s stimulus blitz, trimmed exposure in e-commerce giant Alibaba Group Holding Ltd. in the third quarter.
Tepper’s Appaloosa Management cut its Alibaba stake by 5% in the three months through September, according to a 13F filing released on Thursday. Alibaba, however, remains the hedge fund’s largest holding, accounting for 16% of its $6.7 billion equity portfolio.