Alibaba Group Holding Ltd (NYSE:BABA) became one of the most popular stocks among hedge funds within two weeks of its IPO. BABA was in 109 hedge funds’ portfolio at the end of September. According to data compiled by hedge fund tracking website Insider Monkey, several billionaire investors initiated large positions in Alibaba shares. Andread Halvorsen, Rob Citrone, Dan Loeb, George Soros, and David Shaw are among the top five.
In the financial world there are dozens of methods stock traders have at their disposal to assess stocks. A couple of the less known methods are hedge fund and insider trading indicators. Hedge fund experts at Insider Monkey have shown that, historically, those who follow the best picks of the elite fund managers can outperform the market by a very impressive amount (see the details here).
Keeping this in mind, we’re going to take a look at the fresh action encompassing Alibaba Group Holding Ltd (NYSE:BABA).
What have hedge funds been doing with Alibaba Group Holding Ltd (NYSE:BABA)?
When looking at the hedgies followed by Insider Monkey, Andreas Halvorsen’s Viking Global had the number one position in Alibaba Group Holding Ltd (NYSE:BABA), worth close to $1.0118 billion, comprising 4.1% of its total 13F portfolio. Sitting at the No. 2 spot is Discovery Capital Management, managed by Rob Citrone, which held a $923.4 million position; 10.4% of its 13F portfolio is allocated to the company. Other members of the smart money that are bullish consist of Dan Loeb’s Third Point, George Soros’s Soros Fund Management and D. E. Shaw’s D E Shaw.
Other hedge funds and investors with bullish Alibaba Group Holding Ltd (NYSE:BABA) with at least $100 million position at the end of the third quarter are as follows: Boykin Curry, David Kowitz, Alec Litowitz and Ross Laser, Lee Ainslie, John Lykouretzos, John Paulson, Paul Hudson, Louis Bacon, John Griffin, Philippe Laffont, Zach Schreiber, Robert Pitts, Julian Robertson, and Eric Mindich.