With the release of the US Securities Regulatory Commission's 13F reports one after another, many investment institutions are also gradually clarifying their position adjustments in US stocks.

The report shows that in the first quarter of this year, many foreign-funded institutions bought Chinese securities or related ETFs in a big way, showing their confidence in the future of Chinese assets. Overall, Chinese Internet giants such as Pinduoduo, Ali, JD, and Baidu have become their favorite targets.

Hedge fund bosses buy Chinese securities in a big way

According to the 13F report, in the first quarter of this year, David Tepper, a billionaire investor and founder of the hedge fund Appaloosa Asset Management, clearly favored Chinese assets. Not only did he invest heavily in Chinese securities such as Ali, Pinduoduo, and Baidu, he also opened two new positions in Chinese stock ETFs.

In the first quarter of this year, Appaloosa sold 6.9 million shares$Alibaba (BABA.US)$It brought its total share capital to 11.25 million shares and more than doubled its holdings. As a result of this increase in positions, Alibaba became the largest stock in its $6.7 billion stock portfolio, accounting for 7.39% of its investment portfolio.

In addition to Alibaba, the fund also increased its holdings by 1.32 million shares in the first quarter$PDD Holdings (PDD.US)$and 1.17 million shares$Baidu (BIDU.US)$It brought its holdings to 2.1 million shares and 1.8 million shares, accounting for 3.61% and 2.81% of its investment portfolio, respectively.

David Tepper also opened positions with JD.com and two US-listed Chinese stock ETFs —$KraneShares CSI China Internet ETF (KWEB.US)$und$iShares China Large-Cap ETF (FXI.US)$.

At the same time, he reduced his holdings of the “Big Seven” in US stocks, including$Amazon (AMZN.US)$,$Microsoft (MSFT.US)$,$Meta Platforms (META.US)$und$NVIDIA (NVDA.US)$. One decrease and one increase. By the end of the first quarter, Chinese stocks and ETFs accounted for 24% of its stock portfolio.

“Big Short” prototype added inventory to Ali and JD

Coincidentally, Michael Burry (Michael Burry), a well-known fund manager on Wall Street and the prototype of “The Big Short”, also continued to double his bets on Chinese securities such as JD and Ali in the first quarter of this year, indicating that he is optimistic about the future of Chinese technology stocks.

According to the report, as of March 31, Barry had increased its holdings of 160,000 shares of JD shares and 50,000 shares of Ali shares, making these two stocks continue to be its top two holdings, accounting for about 9.53% and 8.74% of its stock portfolio, respectively.

In addition to Ali and JD, in the first quarter of this year, Barry also opened a small position of 40,000 Baidu ADR shares. Based on the stock price at the end of March, the market value of the position was about 4.21 million US dollars, accounting for 4.07% of its holdings.

Temasek: Establishing a New Futures ETF

Singapore's sovereign wealth fund Temasek Fund also keeps an eye on China Securities.

In the first quarter of this year, Temasek chose to open positions of over 1.5 million shares$KraneShares CSI China Internet ETF (KWEB.US)$As of the end of March, the market value of holdings reached US$39.99 million.

At the same time, Temasek also holds 9.2 million Alibaba shares, with a market value of US$666 million as of the end of March, making it the sixth largest holdings; it holds 301,400 shares$BeiGene (BGNE.US)$The stock had a market value of US$471 million as of the end of March, making it the eleventh largest shareholding; holding 3.6 million shares of JD shares, the market value of its holdings as of the end of March was US$107 million.

Bank of America increases positions in many Chinese securities

Bank of America also increased its positions on a number of securities in the first quarter of this year.

By the end of March this year, Bank of America had purchased 5.18 million new shares of JD shares, bringing its market value to 180 million US dollars; bought 2.91 million Pinduoduo shares, with a market value of 474 million US dollars; and bought 5.86 million Alibaba shares, with a market value of 715 million US dollars.

Just last week, Bank of America analyst Lars Naeckter (Lars Naeckter) also made a bullish statement about the outlook for Chinese stocks.

He proposed that Hong Kong$Hang Seng Index (800000.HK)$It is already a cumulative increase of 24% from the January low, with an increase of 7% in April; the popular China Internet ETF, KWEB, has also risen 30% from the January low. He expects this rise to continue unless unexpected negative factors occur in the future.

Other Wall Street giants are increasing their positions

In addition to the funds mentioned above, there are quite a few Wall Street giants that significantly increased their stock positions in the first quarter of this year, while JD, Ali,$New Oriental (EDU.US)$Internet giants such as China are all the targets of their attention.

For example, Goldman Sachs and Assenagon Asset Management significantly increased their positions in Pinduoduo in the first quarter of this year, and the Bank of Montreal in Canada greatly increased their positions on Alibaba.

In addition, BlackRock bought 77 million shares of New Oriental ADR in the first quarter of this year, increasing its holdings in this stock by 50 times. At the end of March, the market value of its single New Oriental stock position reached 6.057 billion US dollars.

Data source: whalewisdom.com

edit/new