Apple Inc. (AAPL) & Alibaba Group Holding Ltd (BABA) Shares Sold By Leon Cooperman & Dan Loeb Respectively

In comparison to Apple, Alibaba Group Holding Ltd (NYSE:BABA) has had a rather disappointing 2015, with stock prices going down by more than 15% this year. That, among other things, led to former CEO Jonathan Lu resigning this month, replaced by Daniel Zhang. Gamm reported that Dan Loeb’s Third Point hedge fund sold all 10 million of its shares in the Chinese e-commerce giant during the first quarter, before that leadership change was announced. Shares of Alibaba Group Holding Ltd (NYSE:BABA) are up by 6% since the announcement. While Loeb sold out of Alibaba during the quarter, Gamm added that Loeb’s hedge fund did purchase 3.3 million shares of Yum! Brands, Inc. (NYSE:YUM), the global chain of fast-food outlets including KFC and Pizza Hut. The company’s expansion into the Chinese market, while not without hiccups, has piqued the interest of investors like Loeb, who believes it will recover from the food-safety issues that recently dented its reputation there.

We follow the top picks of investors like Leon Cooperman and Dan Loeb because even though most investors believe that tracking 13F filings is a fruitless endeavor because they are filed with a delay of a maximum of 45 days after the end of a calendar quarter, the results of our research have proven otherwise. To be on the safe side, we used a delay of 60 days in our backtests that involved the 13F filings of funds between 1999 and 2012 and we still managed to gain an annual alpha in the double digits. Moreover, since the official launch of our strategy in August 2012, our small-cap strategy has obtained returns of more than 139%, beating the S&P 500 Total Return Index by more than 135% during that time (see the details).

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