Changes in David Tepper’s Portfolio
Reductions
- China Exposure: Tepper has reduced his exposure to Chinese stocks, although his portfolio in China remains overweight, at about 35% (previously 40%).
- Big Tech: He has decreased his positions in Big Tech companies like Oracle, Meta, Adobe, Amazon, and TSMC.
- Nvidia & Microsoft: There is no specific information about whether Tepper directly reduced Nvidia and Microsoft, but it is known that he has generally reduced his tech positions.
New Investments
- Deutsche Bank: Tepper has added Deutsche Bank to his portfolio.
- US Defense Contractor: He has invested in a US defense contractor, indicating a strategic shift.
- US Payment Services Provider: A drastically fallen US payment services provider was also added to the portfolio.
- German DAX Heavyweight: In addition to Deutsche Bank, he has also invested in a German DAX heavyweight.
Additional Strategies
Put Options on the SPYX ETF: Tepper has purchased put options on the SPYX ETF, which constitutes an implicit “short bet” on the USA and now makes up his top 1 position.
These changes indicate that Tepper has positioned himself defensively in the first quarter of 2025 and reduced his exposure to riskier tech investments. The investments in Deutsche Bank and other companies may point to diversification and risk distribution.
Potential Market Impacts
David Tepper’s decisions could provide investors in the German-speaking region with insights into future market developments. The investment in Deutsche Bank and other European companies could indicate a positive outlook on the European economy. At the same time, the reduction of tech positions and investment in defense contractors might signify a general risk distribution and caution regarding future market fluctuations.