Investor David Tepper Boosted China Bets Before Stock Rally

Billionaire investor David Tepper significantly increased his stake in China-related stocks and exchange-traded funds last quarter, just before the development of DeepSeek reignited a rally in the country’s markets, Yiqin Shen reported for Bloomberg News.

Tepper's moves came during a volatile period for Chinese stocks, as investors wavered in their commitment after Beijing launched a stimulus blitz in September. I Photo: Carolina Panthers Facebook

The president and founder of Appaloosa Management LP, who made waves in September with a call to buy “everything” related to China, increased the firm’s holdings in e-commerce company JD.com by roughly 43% in the fourth quarter, according to a filing released.

The money manager also boosted his stake in Alibaba Group Holding Ltd., another e-commerce giant, by 18%. Alibaba remains the hedge fund’s largest holding, accounting for about 16% of its $6.4 billion portfolio.

The moves came during a volatile period for Chinese stocks, as investors wavered in their commitment after Beijing launched a stimulus blitz in September.

The government’s efforts sparked a rally into early October, but momentum faded in the following months amid disappointment over the scale of fiscal stimulus, a weak economic outlook, and a property crisis. Alibaba’s stock fell 20% in the fourth quarter, while JD.com declined 13%.

Tepper also increased his exposure to the KraneShares CSI China Internet exchange-traded fund and the iShares China Large-Cap ETF, as well as to KE Holdings Inc. and Baidu Inc., the filing showed.