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Hedge fund billionaire Tepper still favors Chinese assets: Q2 increased holdings of JD.US and BEKE.US, and BABA.US remains the top stock in his portfolio
AInvestWednesday, Aug 14, 2024 10:50 pm ET
1min read
AMZN --
BABA --
META --

According to the filing with the U.S. Securities and Exchange Commission (SEC), hedge fund Appaloosa Management filed its Form 13F for the second quarter ending June 30, 2024.

Appaloosa Management reported a total portfolio value of USD6.18 billion in the second quarter, down 8% from USD6.75 billion in the first quarter. The fund added no new positions to its portfolio in the second quarter, increased its holdings in 9 positions and liquidated 2 positions, while reducing its holdings in 26 positions. The top 10 positions accounted for 63.53% of the total portfolio value.

The fund's top 5 holdings were BABA.US, Alibaba (BABA.US), MSFT.US, META.US, and GOOG.US. Among the top 5 holdings, Alibaba (BABA.US) was still the largest position, with 10.5 million shares, valued at approximately USD756 million, accounting for 12.24% of the portfolio. The number of shares held was down 6.67% from the first quarter.

Amazon (AMZN.US) was the second largest position, with 3.48 million shares, valued at approximately USD672 million, accounting for 10.87% of the portfolio. The number of shares held was down 9.22% from the first quarter.

Microsoft (MSFT.US) was the third largest position, with 1.18 million shares, valued at approximately USD528 million, accounting for 8.55% of the portfolio. The number of shares held was down 15.62% from the first quarter.

META.US and GOOG.US were the fourth and fifth largest positions, with 470 million and 353 million shares, respectively, valued at USD471 million and USD353 million, accounting for 7.23% and 5.53% of the portfolio, respectively. The number of shares held was down 16.70% and 7.23% from the first quarter, respectively.

The top 10 holdings included ORCL.US, PDD.US, AMD.US, ADBE.US, and FXI.US.

It is worth noting that Appaloosa Management still favored Chinese assets in the second quarter, increasing its holdings in FXI.US, JD.US, and BEKE.US. The fund liquidated MSFT.US, PUT, and NSC.US.

From the change in holdings, the top 5 buying positions were LFT.US, FXI.US, ADBE.US, KWEB.US, and JD.US.

The top 5 selling positions included NVDA.US, INTC.US, MSFT.US, AMD.US, and others.

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