David Tepper: The position in Chinese stocks is close to 40%

Wallstreetcn
2024.11.16 10:57

Legendary hedge fund figure David Tepper's fund Appaloosa Asset Management increased its position in Chinese stocks from 26% at the end of the previous quarter to 38%, significantly adding to its holdings in Pinduoduo, JD.com, and KE. Among them, the increase in Pinduoduo reached 3.36 million shares, bringing the total position to 5.3 million shares at the end of the quarter, with a market value of USD 715 million. Meanwhile, the fund slightly reduced its positions in Alibaba, Baidu, the China Large-Cap ETF (FXI), and the China Overseas Internet ETF (KWEB). It is worth mentioning that Alibaba's stock price rose nearly 50% in the third quarter, and although Appaloosa made some reductions, the market value proportion of its holdings in the stock actually increased. (China Securities Journal)

Source: Wallstreetcn The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.