Alibaba quoted share in US increased by 38% since this June, hitting the highest record in past 21 months. Ali has potential to make the best quarterly performance since IPO. According to Bloomberg news, hedge funds have reduced their 2.2 million Ailbaba holdings in last three months, losing interest at about $ 61 million.
The reduction of Alibiba share holdings untimely let hedge funds suffer more difficulties. Some hedge funds suffered great capital loss on the impact of investors’ negative investment.
Charlie Wilson,portfolio manager of Thornbug Investment Management Inc., claimed they sold the Ailibaba share holdings last year. He stressed that the investment of Thornburg Developing World Fund run better than 91% of same traders in past five years.He added:”The commercialization of Ailibaba surprised us. We realized that we made the wrong decision after we sold the its share holdings. We plan to repurchase some Alibaba share holdings after
Alibaba share was once the favorite for hedge funds. Third Point company and Soros Fund Management both revealed they had great amount of Alibaba holdings. Bloomberg statistics showed that hedge funds held about $14 billion of Ailibaba holdings by September 30, 2014.
The hedge funds who reduced Alibaba holdings in Q2 included Pine River Capital Management, Discovery Capital Management and Passort Capital.While Pine River sold all of Alibaba holdings.
However, some companies buy into Alibaba holdings appropriate when the mentioned three hedge funds sold holdings, including Viking Global Investors. SEC documents showed that Viking Global Investors increased Alibaba holdings to 4 million shares, with a value of $ 321 million. Those shares value increased by about $ 100 million since June 30.
AQR Capital Management, Citadel Advisors and Balyasny Capital Management also increased Alibaba holdings in last quarter. Their spokesmen made no
comments on this piece of news.