Alibaba Group Holding Ltd. (NYSE:BABA) (OTC:BABAF) shares traded at HKD 120.60 ($15.49) on Thursday in Hong Kong, down 2.82% ahead of its third-quarter earnings announcement.
What Happened: Major U.S. funds significantly increased their BABA holdings in the fourth quarter of 2024, while several prominent Asian investment firms exited their positions.
Billionaire investor George Soros‘s fund management firm scaled back its Alibaba position in the fourth quarter.
UBS O’Connor led the U.S. investment surge with a 7,756% increase in holdings to $16.65 million, while Marathon Trading Investment Management LLC and AssetMark Inc. boosted their stakes by 4,826% and 3,406% respectively. Cantor Fitzgerald LP, led by US Commerce Secretary Howard Lutnick, also increased its position by 2,504%.
In contrast, Hong Kong-based funds including Trivest Advisors Ltd., Optimas Capital Ltd., and Infini Capital Management Ltd. completely divested their BABA holdings. Shanghai-based Greenwoods Asset Management Hong Kong Ltd. also exited its position of 246,016 shares.
The company’s expansion continues with the launch of its first cloud region in Mexico, extending its global infrastructure to 87 availability zones across 29 regions. Alibaba is scheduled to report its third-quarter earnings on Thursday at 8:30 PM GMT.
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