Billionaire investor David Tepper's Appaloosa Management sold its entire position in e-commerce giant PDD Holdings during the second quarter of 2026, according to a recent SEC filing. The fund unloaded all 900,000 of its shares, a stake previously valued at approximately $91.96 million. This disclosure, made in a quarterly 13F filing, reflects holdings as of June 30, 2026, and may not represent the firm's current portfolio.
The move was part of a broader strategic shift in Tepper's approach to Chinese investments. While Appaloosa divested from PDD and other e-commerce names, it simultaneously increased its stake in Baidu, suggesting a more selective focus on specific companies within the region rather than a broad market exit.