Billionaires Can’t Live Without These 10 Stocks

8. Alibaba Group Holding Ltd (NYSE:BABA)

• Billionaires with Long Positions (as of June 30): 15
• Aggregate Value of Billionaires’ Holdings (as of June 30): $2.03 billion

While billionaire ownership in Alibaba Group Holding Ltd (NYSE:BABA) was up by one, the aggregate value of their holdings suffered a big drop of $832 million. The flight of capital is interesting given that shares declined only marginally in the second quarter, making it almost entirely due to billionaires selling shares. They appear to have timed their flight well, as the recent Chinese market meltdown and fears over the country’s slowing growth have put a great deal of pressure on the stock, which has fallen by over 20% in the third quarter. Andreas Halvorsen was one of the billionaires cutting ties with some of his shares, as his fund Viking Global cut its stake by 14% to 6.04 million shares.