Chinese Billionaire Lei Zhang is Selling These 4 Tech Stocks in 2022

In this article, we discuss 4 tech stocks that Chinese billionaire Lei Zhang is selling in 2022. If you want to read our detailed analysis of Zhang’s history, investment philosophy, and hedge fund performance, go directly to Chinese Billionaire Lei Zhang is Selling These 8 Tech Stocks in 2022.

4. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders as of December 31: 63

Airbnb, Inc. (NASDAQ:ABNB) is a San Francisco, California-based online marketplace for lodging, vacation homes, and tourism activities.

Hillhouse Capital Management closed its entire position in Airbnb, Inc. (NASDAQ:ABNB) during Q1 2022. One of the reasons for offloading the complete stake could have been Airbnb, Inc.’s (NASDAQ:ABNB) decision to shut down its domestic operations in China. Although the firm launched its operations in 2016, it did not have any significant impact on Airbnb, Inc.’s (NASDAQ:ABNB) overall profitability as it contributed nearly 1% to the total revenue. Operating in China was already complicated due to competition from local players. All the company’s listings in mainland China will be removed in the coming months.

Here’s what Tollymore Investment Partners said about Airbnb, Inc. (NASDAQ:ABNB) in its Q3 2021 investor letter.

“Today disruptors are not typically seeking to replace incumbents entirely. Rather, they break the links in the customer journey, in doing so better aligning monetisation with value creation and minimising externalities. For example, Airbnb broke the link between staying in residential property and owning it. Airbnb is a specific example of a business model innovation which separated asset use from ownership. This is hardly a novel idea; it’s called renting. Rental models lend themselves to assets which are expensive and durable, and where usage is infrequent.”

Of the 924 elite funds in Insider Monkey’s database, 63 funds held a stake in Airbnb, Inc. (NASDAQ:ABNB) as of Q4 2021.