Alibaba Group Holding Ltd (BABA), Youku Tudou Inc (ADR) (YOKU): Why Are These Two Stocks Surging?

According to our data of around 730 elite funds, hedge funds were bullish on Youku Tudou Inc (ADR) (NYSE:YOKU) in the second quarter and they amassed over 11% of the company at the end of June. A total of 20 funds reported stakes worth $544.45 million in aggregate in the last round of 13F filings, up from 14 funds and $322.23 million respectively a quarter earlier. Among the lucky hedge fund holders was Lei Zhang‘s Hillhouse Capital Management, which owned 6.63 million shares, and Kerr Neilson’s Platinum Asset Management, which reported 8.43 million shares.

Many hedge funds also held shares of Alibaba Group Holding Ltd (NYSE:BABA). A total of 85 investors among those we track reported stakes with a total value of $4.77 billion as of the end of the second quarter, representing 2.30% of the company’s float. That compares to 86 funds with $5.8 billion worth of Alibaba shares a quarter earlier. Rob Citrone‘s Discovery Capital Management owns 6.52 million shares of Alibaba, while Andreas Halvorsen’s Viking Global is long 6.04 million shares.

Disclosure: none