According to the Financial Associated Press on February 11 (edited by Bian Chun), on Monday, US hedge fund mogul and billionaire investor David Tepper's Appaloosa LP submitted a Form 13F to the SEC. The document shows that in the fourth quarter of last year, the hedge fund significantly increased its holdings in China Concept Stocks and Chinese Stock ETFs.

In September of last year, China introduced a series of fiscal and monetary policies to stimulate the domestic economy, and Tepper declared at the time, "Buy all Chinese Assets." The Form 13F report data indicates that he indeed fulfilled his promise.

The document shows that in the fourth quarter of last year, Appaloosa's holdings in Alibaba increased by 18%, reaching 11.8 million shares, currently valued at over 1.2 billion USD. By the end of last year, Alibaba remained its largest holding, accounting for approximately 15.4% of a 6.7 billion USD investment portfolio.

At the end of last month, Alibaba's Tongyi Qianwen team launched its flagship model Qwen 2.5-Max, which surpassed the flagship models of OpenAI, Meta, and DeepSeek in several benchmark tests. Since the beginning of this year, Alibaba's stock price has risen nearly 30%.

In terms of other China Concept Stocks, JD.com's holdings rose from approximately 7.3 million shares to about 10.5 million shares, currently valued at over 0.4 billion USD. The increase in JD.com's holdings reached 44%, leading among major China Concept Stocks.

In addition, PDD Holdings' holdings increased by approximately 0.055 million shares to 5.4 million shares, an increase of about 1%. By the end of last year, PDD Holdings was Appaloosa's third-largest holding, accounting for approximately 8.04% of its portfolio. KE Holdings' holdings rose from approximately 2.18 million shares to about 2.57 million shares.

Regarding Chinese Stock ETFs, it increased its holdings in Kraneshares CSI Internet ETF by approximately 0.81 million shares and in iShares Core MSCI China Index ETF by about 0.8 million shares.

Once claimed to "Buy everything Chinese Assets".

Tepper is the owner of the Carolina Panthers of the National Football League (NFL), and has had an outstanding investment track record for thirty years, regarded as one of the greatest hedge fund investors of all time. Every move he makes is closely watched by Wall Street.

In the past six months, Tepper has shown a particular fondness for the Chinese stock market. He believes that the potential returns of the Chinese stock market are the highest globally relative to the risks.

Last September, he stated that he did not expect such a strong policy from China, saying he would buy all Chinese Assets.

"I thought the Fed's interest rate cut decision last week would lead to a loosening of policies in China, but I did not expect them to make such a bold move. This is a complete turnaround," Tepper said in a media interview at the time. When asked what Chinese Assets he had bought, he replied, "I bought everything. I will buy ETFs, I will also buy Futures, I will buy all of it."

On Monday, Eastern Time, investors largely ignored President Trump's latest tariff threats, with the three major U.S. stock indexes rising collectively. Most popular China Concept Stocks rose, with the Nasdaq Golden Dragon China Index up 2.61%, reaching a new closing high in four months. Among them, Alibaba rose 7.55%, JD.com rose 4.98%, and PDD Holdings rose 1.81%.

Since the beginning of this year, China Concept Stocks have continued to rise. The outbreak of AI strength in China has triggered a reassessment of the value of Chinese Assets by overseas funds.

On the 20th of last month, China's AI startup DeepSeek officially released the inference large model DeepSeek-R1, which, with its extremely low training cost and inference capability comparable to the world's leading large models, shook Silicon Valley and temporarily led to a significant drop in US tech stocks, as DeepSeek's emergence raised questions among investors about the necessity for US tech giants to spend huge amounts on developing AI.

With the rise of DeepSeek, recently, several foreign institutions such as Goldman Sachs, Deutsche Bank, Bank of America, and Blackrock have expressed a bullish attitude towards China Assets and the A-share market.

Increase Shareholding in NVIDIA and AMD, while reducing Shareholding in Meta and Amazon.

In other Stocks, as of the end of last year, Appaloosa's Hold Positions in NVIDIA increased from 0.625 million shares at the end of the third quarter to 0.68 million shares, the Hold Positions in Uber Technologies increased from 1.4 million shares to 1.5 million shares, and the Hold Positions in AMD increased from 1.1 million shares to 1.2 million shares.

In addition, Appaloosa reduced its shareholding in Meta and Amazon by approximately 20%.

As of the end of last year, the company held 2.6 million shares of Amazon, valued at 0.57 billion dollars, and held 0.49 million shares of Meta, valued at 0.287 billion dollars.