Hedge Funds

Hedge-fund honchos including David Tepper are loading up on Alibaba

Key Points
  • Four major hedge funds bought stakes of Alibaba in the second quarter, according to quarterly filings.
  • David Tepper's Appaloosa and Dan Loeb's Third Point disclosed the largest stakes.
  • Alibaba shares have climbed 9.7 percent this quarter, versus the S&P 500's 1.8 percent gain and the iShares MSCI Emerging Markets' 4.8 percent rise.
David Tepper, founder and president of Appaloosa Management.
David Orrell | CNBC

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.

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