As of November 15th, US time, most US institutional investors have completed the disclosure of third-quarter holding data (Form 13F). David Tepper, the legendary figure of hedge funds, increased the fund's Appaloosa Asset Management's investment in Chinese stocks from 26% at the end of the previous quarter to 38%, significantly adding positions in PDD Holdings, jd.com, and ke holdings, among other Chinese concept stocks. Specifically, the addition of PDD Holdings amounted to as high as 3.36 million shares, reaching 5.3 million shares by the end of the quarter, with a holding market value of $0.715 billion. At the same time, the fund reduced positions in alibaba, baidu, Chinese large cap ETF (FXI), and China Internet-related ETF (KWEB) to a lesser extent. It is worth noting that Alibaba's stock price increased by nearly 50% in the third quarter; although Appaloosa reduced its holdings partially, the proportion of the stock's holding market value actually increased.