Hedge fund tycoon Tepper still favors Chinese assets: Increased holdings of JD.com and KE in Q2, Alibaba remains the top heavy stock

Zhitong
2024.08.15 02:40
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Hedge fund manager David Tepper's Appaloosa Management report shows that its total position value as of Q2 2024 is $6.18 billion, a decrease of 8% from the previous quarter. The fund increased its holdings in JD.com and KE in Q2, while Alibaba remains its top holding with 10.5 million shares, valued at approximately $756 million. The top ten holdings account for 63.53% of the total market value

According to the disclosure from the U.S. Securities and Exchange Commission (SEC) obtained by Zhitong Finance APP, hedge fund giant David Tepper's Appaloosa Management submitted its second-quarter (Q2) holdings report (13F) as of June 30, 2024.

Statistics show that the total market value of Appaloosa Management's holdings in the second quarter was $6.18 billion, down 8% from $6.75 billion in the previous quarter. The fund added 0 new stocks to its portfolio, increased holdings in 9 stocks, fully exited 2 stocks, and reduced holdings in 26 stocks in the second quarter. The top ten holdings accounted for 63.53% of the total market value.

In the top five major holdings, Alibaba (BABA.US) remains the top holding with 10.5 million shares, a holding value of approximately $756 million, accounting for 12.24% of the investment portfolio, a decrease of 6.67% in the number of shares held compared to the previous quarter.

Amazon (AMZN.US) ranks second with 3.48 million shares, a holding value of approximately $672 million, accounting for 10.87% of the investment portfolio, a decrease of 9.22% in the number of shares held compared to the previous quarter.

Microsoft (MSFT.US) ranks third with 1.18 million shares, a holding value of approximately $528 million, accounting for 8.55% of the investment portfolio, a decrease of 15.62% in the number of shares held compared to the previous quarter.

Meta Platforms (META.US) and Google-C (GOOG.US) rank fourth and fifth, with holding values of $471 million and $353 million respectively, with decreases of 16.70% and 7.23% in the number of shares held compared to the previous quarter.

The top ten major holdings include Oracle (ORCL.US), Pinduoduo (PDD.US), AMD (AMD.US), Adobe (ADBE.US), and China Large-Cap Stock ETF (FXI.US).

It is worth noting that in the second quarter, Appaloosa Management still favored Chinese assets, increasing holdings in China Large-Cap Stock ETF, JD.com (JD.US), and KE Holdings (BEKE.US). The fund fully exited positions in Microsoft put options (MSFT.US, PUT) and Norfolk Southern (NSC.US) From the perspective of changes in the position ratio, the top five buying targets are: Lyft Inc (LYFT.US), China A-share ETF, Adobe (ADBE.US), KraneShares CSI China Internet ETF (KWEB.US), and JD.com.

The top five selling targets include NVIDIA (NVDA.US), Intel (INTC.US), Microsoft, AMD, and others.

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