David Tepper in the first quarter: Increased holdings in Uber and Meta, completely sold AMD, and reduced holdings in Alibaba and Microsoft

The hedge fund mogul David Tepper, who once boldly claimed to "buy everything Chinese," reduced his holdings in Alibaba in the first quarter, but Chinese concept stocks still occupy three of his top five positions.

According to the latest 13F filing for the first quarter of 2025, Tepper's hedge fund Appaloosa Management significantly adjusted its investment portfolio, including increasing positions in Uber and Meta, reducing holdings in Alibaba and Microsoft, completely exiting AMD and FedEx, and initiating positions in Deutsche Bank and Broadcom.

Overview of Tepper's Portfolio: Chinese Tech Stocks Remain Dominant

Despite reducing his stake in Alibaba, Tepper still maintains significant exposure to Chinese tech companies, with the two largest positions in his portfolio being Chinese companies.

According to the latest 13F filing, as of the first quarter of 2025, Tepper's portfolio includes 38 stocks, with Alibaba Group still being his largest holding, accounting for 14.56% of the portfolio, while Pinduoduo ranks second at 6.17%. The top five holdings also include Amazon (5.7%), JD.com (3.95%), and Meta Platforms (3.78%).

His investments are primarily concentrated in nine sectors: consumer cyclical, technology, communication services, utilities, energy, healthcare, financial services, industrials, and real estate.

Reduction Trends: Alibaba and Microsoft as Major Reductions

In the first quarter, Tepper reduced positions in a total of 21 stocks, with the most significant changes including a reduction of 2.61 million shares in Alibaba, resulting in a 22.06% decrease in holdings, impacting the portfolio by -3.43%. Tepper also reduced his stake in Microsoft by 460,000 shares, leading to a 47.42% decrease in holdings, impacting the portfolio by -3%.

The chart below shows Tepper's changes in Alibaba holdings.

Increased Positions: Adding to Uber and Meta

In this quarter, Tepper increased positions in eight stocks, with the most notable being UBER, where he purchased an additional 1.7 million shares, bringing the total to 3.2 million shares, an increase of 113.33%, impacting the current portfolio by 1.48%, with a total value of $233 million.

Next is META, where he increased his holdings by 60,000 shares to 550,000 shares, a growth of 12.24%, with a total value of $317 million

AMD and FedEx were completely liquidated

In the first quarter of 2025, Tepper completely exited six stock positions. The most notable was the complete liquidation of 1.2 million shares of AMD, which had a -2.24% impact on the portfolio. At the same time, he also liquidated 350,000 shares of FedEx (FDX), causing a -1.52% impact on the portfolio.

New positions in Deutsche Bank and Broadcom

Tepper added four new stocks in the first quarter, the most significant being Deutsche Bank, purchasing 3.75 million shares, accounting for 1.07% of the portfolio, with a total value of $89.36 million. The second was U.S. defense contractor L3Harris Technologies (LHX), purchasing 300,000 shares, accounting for about 0.75% of the portfolio, valued at $62.79 million. The third largest new position was Broadcom (AVGO), purchasing 130,000 shares, accounting for 0.26% of the portfolio, valued at $21.77 million