Chinese Stocks Rally: Which Funds are Adding Positions in Chinese Stocks?
China announced last week that it is shortening quarantine requirements while simplifying travel rules and adjusting its monitoring system. Investors cheered the latest announcement.
The $HSI(HSI)$ jumped 7.74% on Friday after the news came out. Chinese stocks are well placed to gain from the easing of social distancing and travel curbs. Last week's changes to the Covid restrictions mean reopening trades are "finally going to take off."
Which funds are adding positions in Chinese stocks?
Baillie Gifford funds bought more shares of $Pinduoduo Inc.(PDD)$ and $NIO Inc.(NIO)$ in Q3
Baillie Gifford, one of the largest asset managers in Europe and a China bull in recent years, increased its holdings of some Chinese growth stocks in its portfolio in the third quarter.
The investment group added 110,737 shares of e-commerce platform $Pinduoduo Inc.(PDD)$ and 50,039 shares of electric vehicle maker $NIO Inc.(NIO)$ during the July to September period, the latest 13F filings to the U.S. Securities and Exchange Commission showed.
Source: Whalewisdom
Steve Cohen's Point72 increased positions in $Alibaba(BABA)$
Point 72 Asset Management, the hedge fund led by billionaire investor Steve Cohen, has taken new bets during Q3 in $Workday(WDAY)$ with 1.06M shares, $Dell Technologies Inc.(DELL)$ with 4.07M shares, $EOG Resources(EOG)$ with 1.17M shares, $Cenovus(CVE)$ with 8.37M shares, and $Intuit(INTU)$ with 264K shares, according to its13Ffiling dated Monday.
The fund increased its positions in $Biogen(BIIB)$ to 1.67M shares from 455K shares, $Alibaba(BABA)$ to 3.53M ADSs from 598K ADSs, $AstraZeneca PLC(AZN)$ to 4.81M ADRs from 1.97M ADRs, and $Microsoft(MSFT)$ to 957K shares from 386K shares.
Source: Whalewisdom
Tiger Global Fund Q3 positions: $JD.com(JD)$ still the first long position
According to the SEC disclosure, Tiger Global Fund filed its position report (13F) for the third quarter ended September 30, 2022. The total market value of Tiger Global Fund's positions reached $10.893 billion in the fourth quarter, with the top 10 holdings accounting for approximately 64.64% of the stock value.
Source: Whalewisdom
George Soros Fund Continues to Boost Bets on $NIO Inc.(NIO)$ in Q3
The fund held 115,317,000 NIO assets called "NOTE 2/0" at the end of the third quarter, up 64,000,000, or 124.72% from 51,317,000 at the end of the second quarter, according to a Form 13F filing on Monday. Assets labeled "Note" may be convertible senior notes of a company, and they are measured on Form 13F in "PRN", which stands for the principal amount on convertible debt securities.
Overall, Soros Fund's bond holdings in NIO were valued at $122 million at the end of the third quarter, up $22.57 million from $98.95 million at the end of the second quarter. Notably, the fund also held call options that could be converted into 200,000 shares of NIO ADS valued at about $3.15 million at the end of the third quarter, marking its first purchase of the asset.
At the end of the article, are you bullish on Chinese stocks? Why or why not?
E-commerce platform: $Alibaba(BABA)$, $JD.com(JD)$, $Pinduoduo Inc.(PDD)$
EV Industry: $NIO Inc.(NIO)$, $XPeng Inc.(XPEV)$, $Li Auto(LI)$
Or any other stock...
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and Chinese gov will cap their own companies in the back alley whenever they want