5 Best Stocks to Buy on Robinhood for Beginners

3. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 113

Retail investors are piling into Alibaba Group Holding Limited (NYSE:BABA) on Robinhood. But hedge funds and institutional investors also like Alibaba Group Holding Limited (NYSE:BABA) for long-term growth. Recently, J.P. Morgan Asset Management launched its China-focused ETF, JPMorgan Active China ETF (NYSEARCA:JCHI). The ETF, according to the bank, offers “best ideas” portfolio of Chinese equities. Alibaba Group Holding Limited (NYSE:BABA) is one of the notable holdings of this ETF.

As of the end of the fourth quarter of 2022, 113 hedge funds had stakes in Alibaba Group Holding Limited (NYSE:BABA), up from 105 hedge funds in the previous quarter. The total value of these stakes was about $5.6 billion. The biggest stakeholder of Alibaba Group Holding Limited (NYSE:BABA) was Philippe Laffont’s Coatue Management.

Artisan Global Equity Fund made the following comment about Alibaba Group Holding Limited (NYSE:BABA) in its Q4 2022 investor letter:

“Finally, within our technology theme, an area that we have trimmed heavily over the year, we exited Alphabet due to deteriorating fundamentals and reinitiated a position in Alibaba Group Holding Limited (NYSE:BABA), a stock we have owned previously, as it enters a new phase in its history, one most likely without founder Jack Ma after he became a lightning rod for the Chinese government’s technology crackdown beginning in late 2020. We are attracted to the company’s secular growth prospects in online and mobile commerce.”