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Alternative Market Briefing

Big hedge funds dropped Alibaba in Q4

Wednesday, February 18, 2015

Komfie Manalo, Opalesque Asia:

Some of the biggest hedge funds in the U.S. have reduced or completely unloaded their shares in China's Alibaba Group Holding in the fourth quarter of last year, anticipating a drop in the e-commerce company’s earnings in the last quarter that sent its shares to decline in January.

A report by Reuters said that Leon Cooperman's Omega Advisors, David Tepper's Appaloosa Management and Barry Rosenstein's Jana Partners LLC have unloaded their Alibaba shares according to U.S. regulatory filings, while hedge funds Tiger Management, Moore Capital Management and Viking Global Investors LP have reduced their stakes in Q4-14.

However, Dan Loeb's Third Point and John Paulson's Paulson & Co raised their exposures in the Chinese e-commerce firm. T. Rowe Price Associates Inc. also trimmed its stake.

However, Alibaba also attracted new investments from Tiger Global Management LLC and Sands Capital Management LLC, according to a separate report from Bloomberg. Tiger Global Management purchased 5.8 million shares, or 0.24 percent of Hangzhou, China-based Alibaba, while Sands Capital Management more than doubled its stake to 19.6 million shares, o......................

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