Alibaba Group Holding Ltd (BABA), Facebook Inc (FB) Among Billionaire John Griffin’s Top Technology Picks

Facebook Inc (NASDAQ:FB)’s stake was trimmed by 1% to 3.16 million shares valued at $259.80 million. The holding represented 2.96% of the fund’s portfolio value. Facebook Inc (NASDAQ:FB)’s stock has risen by nearly 39% over the past year. The $225.84 billion social media company is now on its way to being a one-stop-shop for all your news-related needs beyond your contact list. Facebook Inc (NASDAQ:FB) recently launched its ‘Instant Articles’ product for publishers with fast loading and an interactive environment. The feature is currently being piloted by only a few major publishers. Ken Griffin‘s managed futures fund, Citadel Investment Group also holds a sizable stake in Facebook Inc (NASDAQ:FB).

Griffin’s LinkedIn Corp (NYSE:LNKD) holding remained unchanged from the previous quarter, amounting to some 685,000 shares valued at $171.15 million. The stock has plunged by 14.28% so far this year despite beating earnings estimates as part of its first quarter financial results. The reason for the slide is attributable to the company’s soft guidance for the second quarter, according to which revenues are expected to fall between $670 million and $675 million as compared to the consensus estimate of $717.5 million. Similarly, EPS of $0.28 was a long way from the expected $1.90. Another firm holding a notable position in LinkedIn Corp (NYSE:LNKD) is Philippe Laffont‘s Coatue Management.

Griffin’s stake in Alibaba Group Holding Ltd (NYSE:BABA) also remained untouched during the quarter at 1.77 million shares, valued at $146.92 million. The $220.75 billion e-commerce giant has come under selling pressure lately, depreciating by nearly 15% year-to-date. The strong revenue growth of 45% for the fiscal fourth quarter of 2015 has helped Alibaba Group Holding Ltd (NYSE:BABA)’s stock rebound this month. The company’s plans to expand overseas might be thwarted by the recent lawsuit filed in a Manhattan court by France’s Kering, which owns luxury brands like Gucci and Yves Saint Laurent. According to Alibaba Group Holding Ltd (NYSE:BABA), the company has spent about $161 million since 2013 to fight counterfeit goods on its websites. The renowned activist investor Dan Loeb sold off his entire holding in Alibaba Group Holding Ltd (NYSE:BABA) comprised of 10.0 million shares during the first quarter.

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