BABA-W (09988) dropped over 3% in early trading, falling 3.12% to HK$118 as of press time, with trading volume reaching HK$4.93 billion. On the news front, according to recent disclosures by the U.S. Securities and Exchange Commission (SEC), Appaloosa LP, managed by renowned Wall Street hedge fund manager David Tepper, has filed its Q2 holdings report (13F) as of June 30, 2025. Tepper, known as the "King of Wall Street Bottom Fishing," demonstrated his unique style as a contrarian investor by significantly purchasing shares of the troubled UnitedHealth (UNH.US) during the second quarter. Notably, among Appaloosa LP's top five holdings, Alibaba (BABA.US) ranks first with approximately 7.07 million shares held, representing a market value of about $801 million and accounting for 12.43% of the investment portfolio, down 23.43% from the previous quarter's holdings.
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