BABA - Billionaire David Tepper's Portfolio Is Loaded With Magnificent Seven Stocks But His Top Holding Is This Chinese Stock. Is Now a Great Opportunity to Buy This Beaten-down Stock?
2024-06-26 09:00:00 ET
David Tepper of Appaloosa Management is one of the most successful investors of his generation. His investment prowess has not only made him a billionaire, but it has also allowed him to become the owner of two professional sports teams: the NFL's Carolina Panthers and Charlotte FC in the Major League Soccer (MLS).
At the end of the first quarter, Tepper's portfolio was, not surprisingly, filled with a number of market-leading stocks. In fact, five of his top-six holdings were Magnificent Seven stocks, including Amazon , Microsoft , Meta Platforms , Nvidia , and Alphabet .
However, his top holding -- representing about 12% of his portfolio -- was in the beaten-down Chinese company Alibaba Group (NYSE: BABA) . Let's look at what may have drawn Tepper to take such a large position in the company.
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Billionaire David Tepper's Portfolio Is Loaded With "Magnificent Seven" Stocks, But His Top Holding Is This Chinese Stock. Is Now a Great Opportunity to Buy This Beaten-down Stock?