Moore Capital Management has bought 1.99 million shares of Alibaba Group Holding Ltd (NYSE:BABA), increasing the value of its stake from $176.9 million to $162.5 million in March. According to the company’s quarterly filing submitted to the Securities and Exchange Commission, Moore Capital has invested in Alibaba and sold around 136,96 shares in Baidu Inc (ADR) (NASDAQ:BIDU).
Moore Capital has given up on its $105.1 million stock in SPDR S&P Retail (ETF) (NYSEARCA:XRT) by the sale of 1.1 million shares. In Q42014, Standard & Poor’s 500 Index of U.S. equities saw a 0.4% rise while the disclosed equity holdings of the company increased by 24% to $2.8 billion. Moore Capital owned shares in 338 companies in Q42014 and out of these, 162 were added this year.
New Add-ons to Moore
Among the newly added shares is a stake of $34.7 million in Signet Jewelers Ltd. (NYSE:SIG) and around $34.3 million in Amazon.com, Inc. (NASDAQ:AMZN). According to the regulatory markers, hedge fund firms investing in equities in U.S. firms need to fill Form 13F in a period of 45 days in every quarter to list the stocks they possess. Only U.S. securities are filed in these. Non-U.S. equities and holdings are not traded publicly and hence, skip this list.
Many companies took out their stakes from Alibaba in Q12015 as the company did not do well in the markets as per the estimated figures, after its entry in the initial public offering. As per the results of the quarter filings by the hedge fund companies, Third Point sold its entire stake of $1 billion in the company. John Paulson also sold 1.9 million shares of Alibaba by March 31, 2015.
The company has registered a low in its stock this year as compared to 2014 after missing the revenue targets in the last quarter and is now diversifying into emerging markets to revive its market sentiment.
By penetrating into other markets, the company aims to counter its local rivals like JD.com. Even when all others were leaving Alibaba, Soros Fund Management, Tiger Global Management, Viking Global Investors and Moore Capital Management have held on.