5 Tech Stocks to Invest in Today According to Thomas E. Claugus’ GMT Capital

2. Alibaba Group Holding Limited (NYSE: BABA)

Claugus’ Stake Value: $70,982,000
Percentage of Thomas E. Claugus’ 13F Portfolio: 5.29%
Number of Hedge Fund Holders: 146

Alibaba Group Holding Limited (NYSE: BABA) ranks second on the list of 10 tech stocks to invest in today according to Thomas E. Claugus’ GMT Capital. Alibaba Group Holding Limited (NYSE: BABA) currently has a market capitalization of $468.18 billion. 

On August 17, the South China Morning Post announced that Alibaba (NYSE: BABA) launched a new portion of its Alibaba Auction area for NFTs transacted on a blockchain sponsored by the Sichuan province government.

GMT Capital holds 313,000 shares in Alibaba Group Holding Limited (NYSE: BABA), worth $70.98 million, representing 5.29% of their investment portfolio. The hedge fund has increased its stake in Alibaba Group Holding Limited (NYSE: BABA) by 14% in the second quarter of 2021. There were 146 hedge funds in our database that held stakes in Alibaba Group Holding Limited (NYSE: BABA) in the second quarter of 2021, compared to 135 funds in the previous quarter. 

Tweedy, Browne Company LLC, in its second-quarter 2021 investor letter, mentioned Alibaba Group Holding Limited (NYSE: BABA). Here is what the fund said: 

“A position that we established around year-end, and have added to across three of our Funds during the quarter, is Alibaba, the Chinese internet giant. Our pricing opportunity in these shares is in part related to increased regulatory scrutiny of the internet sector by the Chinese government which we continue to monitor closely.

Alibaba is the largest e-commerce company in China, with over 50% market share in terms of gross merchandise value. We first purchased Alibaba for the Funds around calendar year-end. Its core consumer marketplace businesses consist of Taobao (China’s largest consumer-to-consumer online shopping destination) and Tmall (China’s largest third-party platform for brands and retailers). Additionally, Alibaba operates the dominant cloud platform in China (AliCloud), international e-commerce operations (Lazada, etc.), and digital media services, and has several strategic investments, including a 33% stake in Ant Financial…” (Click here to see the full text)