BlueDrive Global Investors’ Latest Portfolio: Top 3 Stock Picks

This article discusses the top 3 stock picks of BlueDrive Global Investors at the end of June 2022. To know more about how Oscar Hattink founded BlueDrive Global Investors, his career trajectory and his role at TCI Fund Management along with other details of BlueDrive Global Investors’ portfolio please check out BlueDrive Global Investors’ Latest Portfolio: Top 7 Stock Picks.

3. Alibaba Group Holding Limited (NYSE:BABA)

BlueDrive Global Investors’ Stake Value: $21,190,000

Percentage of BlueDrive Global Investors’ 13F Portfolio: 14.99%        

Number of Hedge Fund Holders: 106

Alibaba Group Holding Limited’s (NYSE:BABA) stock might have started its downward journey at the end of 2020, losing over two-thirds of its value in the process, but if you were tracking smart money flows as we do, you could have anticipated this move all the way back in 2019. The popularity of Alibaba Group Holding Limited (NYSE:BABA) among funds tracked by us peaked at the end of 2019 when 177 funds disclosed a stake in the Chinese e-tailer. It has dwindled to only 106 funds reporting a stake in the company at the end of June this year.

On August 31, Reuters reported that Alibaba Group Holding Limited (NYSE:BABA) is going to be among the first mainland China-based companies that will go through audit inspection by US regulators. Several investors and regulators, over the years, have raised concerns about the audit and financial regulatory practices followed by Chinese companies. In addition, there have always been concerns over the variable interest entity (VIE) structure under which most companies based in China raise capital from foreign investors and list on exchanges like the NYSE. According to the report, Alibaba Group Holding Limited (NYSE:BABA) has already been notified that its audit will be inspected by the Public Company Accounting Oversight Board (PCAOB), a non-profit established by the United States Congress that oversees the audits of public companies.