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David Tepper's Appaloosa Management and three other hedge funds took new stakes in Chinese e-commerce giant Alibaba in the second quarter, according to the latest quarterly filings.
Appaloosa disclosed a 3.7 million stake in shares of Alibaba, according to a Monday filing with the U.S. Securities and Exchange Commission.
Dan Loeb's Third Point bought 4.5 million shares, according to a Friday filing.
Stan Druckenmiller's Duquesne Capital and Julian Robertson's Tiger Management also disclosed new stakes of 710,000 shares and 214,000 shares, respectively, in Alibaba, according to filings on Monday.
Moore Capital and Tiger Global Management disclosed a slight decrease in their holdings of Alibaba in the second quarter, filings showed.
Alibaba's U.S.-listed American Depositary Shares have climbed 9.7 percent so far this quarter and are up 76 percent this year.
In contrast, the gained 1.8 percent this quarter and the iShares MSCI Emerging Markets ETF (EEM) is up 4.8 percent.
Alibaba is scheduled to report quarterly results Thursday before the opening bell. Subsidiaries of Jack Ma's Hangzhou, China-based firm include Ant Financial, which is trying to buy Dallas, Texas-based money transfer service MoneyGram.