5 Chinese Stocks Billionaires Are Loading Up On

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1. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 128

No. of Billionaire Investors: 25

Alibaba Group Holding Limited (NYSE:BABA) stands out as the most preferred Chinese stock among billionaires. As of the first quarter of 2023, Alibaba Group Holding Limited (NYSE:BABA) stock was held in the portfolios of 25 billionaires.

On May 19, Colin Sebastian, an analyst at Baird, maintained an Outperform rating on Alibaba Group Holding Limited (NYSE:BABA) but reduced the price target on the shares to $115 from $120. The analyst noted that despite a generally strong performance in the fourth quarter, persistent competitive pressures in China Commerce and a decrease in Cloud revenues overshadowed the positive earnings results and the accelerated growth observed in International and Local Consumer Services.

According to Insider Monkey’s first quarter database, 128 hedge funds held stakes worth $5.8 billion in Alibaba Group Holding Limited (NYSE:BABA), compared to 113 funds in the prior quarter worth $5.6 billion. 

Polen Capital made the following comment about Alibaba Group Holding Limited (NYSE:BABA) in its October investor letter:

“Alibaba Group Holding Limited (NYSE:BABA) is the leading e-commerce company in China. The stock was weak over the quarter as they reported a quarterly revenue decline. The company has been heavily impacted by the continued covid-19 lockdowns throughout China and the aggressive rate increases and deteriorating outlook for China’s economy have weighed heavily on the stock. The share price has also been under pressure due to the U.S. Securities and Exchange Commission’s plans to delist Chinese tech stocks in 2024 if they do not provide access to audit files.”

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