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Billionaire Investor David Tepper, who Vows to Buy 'Everything' China, Cuts Alibaba Shrs Last Qtr
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David Tepper, the billionaire investor who has vowed to buy “everything” related to China, pare back on his Alibaba (BABA.US) investment in the third quarter. Tepper's hedge fund, Appaloosa Management, reduced its stake in Alibaba by 5%, according to a regulatory filing, but Alibaba remains the hedge fund's largest holding, accounting for 16% of its US$6.7 billion equity portfolio. Tepper also downsized its exposure to iShares China Large-Cap ETF (FXI.US), KraneShares Trust KraneShares CSI China Internet ETF (KWEB.US) and Baidu (BIDU.US), while more than doubling its stake in Pinduoduo (PDD.US) and overweighting in JD.com (JD.US) and Beke (BEKE.US). AAStocks Financial News |
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