Billionaire Michael Platt’s Top 5 Stock Picks

3. Alibaba Group Holding Ltd – ADR (NYSE:BABA)

Shares held by BlueCrest Capital Management: 273,500

Value of Position: $27.95 million

Michael Platt’s fund acquired 273,500 shares of Alibaba Group Holding Ltd – ADR (NYSE:BABA) but also added 514,200 shares worth of CALL options during the first quarter. With 128 funds holding $5.88 billion worth of stock, Alibaba currently tops the list of 5 best Chinese stocks to buy now.

Similarly to another Chinese eCommerce company that made the list of billionaire Michael Platt’s top 10 stock picks, JD.com Inc (NASDAQ:JD), Alibaba Group Holding Ltd – ADR (NYSE:BABA) saw its shares decline amid fears regarding the state of the Chinese economy. Recently, the tech behemoth reported its results for the first quarter, with both earnings per ADS of $1.56 and revenue of $30.32 billion topping the consensus estimates. In addition, the company announced plans to spin off its Cloud intelligence Group and distribute the stock of the new company to shareholders.