Bridgewater cleared more than 5 billion yuan of Alibaba ADR shares?
Recently, when several funds disclosed their positions in the second quarter, they greatly reduced their holdings of Alibaba, JD and other Chinese stocks.
Bridgewater $Brigewater Holdings(BK2122.US$ , the world's largest hedge fund, recently disclosed that Alibaba $Alibaba(BABA.US$ , JD.com $JD.com(JD.US$ , NetEase $NetEase(NTES.US$ and BiliBili $Bilibili(BILI.US$ closed their positions last quarter. Bridgewater reduced its holdings of 7.48 million Alibaba ADR in the previous quarter. Based on the average price of about US $100 in the quarter, the relevant Alibaba holdings involved about US $750 million (about HK $5.8 billion).
According to market news, Bridgewater's declared position decreased greatly, mainly due to the company's change from holding China concept shares ADR to holding Hong Kong's second listed shares. In other words, the fund will only convert the holding site, not the ADR related to full liquidation.
Dalio, the founder of Bridgewater, has been optimistic about China's investment opportunities in recent years. Before clearing Alibaba's position in the last quarter, Bridgewater has continuously increased its position in Alibaba's ADR in the past two years, from 311000 ADR at the end of 2019 to 7.48 million ADR in the first quarter of this year, equivalent to 3.28% of the declared position portfolio.
$BABA-SW(09988.HK$ $Hang Seng TECH Index(800700.HK$ $China Concept Stocks(BK2517.US$
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whqqq : yes. You just convert the shares on HK stock market ant that's it.
It has nothing to do with the fundamentals of the company.