#3 Alibaba Group Holding Ltd (NYSE:BABA)
– Shares Owned by Keywise Capital (as of March 31): 194,200
– Value of Holding (as of March 31): $15.35 Million
Another new addition to Keywise’s portfolio was Alibaba, a holding which represented 12.8% of the value of its portfolio on March 31. Shares of the Chinese e-commerce giant are down by 4.9% this year but have also rebounded strongly from an early-February low point. Alibaba’s financial arm, Ant Financial Services recently raised $4.5 billion in what has become the world’s largest fundraising round for an Internet company, one which puts its valuation at a whooping $60 billion. Investors included a Chinese sovereign wealth fund and some of China’s biggest insurers. Barry Dargan‘s Intermede Investment Partners is also upbeat about Alibaba Group Holding Ltd (NYSE:BABA)’s future prospects, as it doubled its holding in the e-commerce giant to over 465,300 shares during the first quarter.
#2 Vipshop Holdings Ltd – ADR (NYSE:VIPS)
– Shares Owned by Keywise Capital (as of March 31): 1.65 Million
– Value of Holding (as of March 31): $21.28 Million
Keywise made a 15% boost to its position in Vipshop Holdings Ltd – ADR (NYSE:VIPS) during the first quarter, propelling it to a 17.79% slice of the portfolio’s value. Shares of the $7.7 billion online discount retailer for Chinese brands have not only fallen by more than 12% since the start of this year, but have also plummeted by nearly 54% in the last 12 months. The most recent setback came after the company issued light guidance for the first quarter, the results of which are scheduled to be announced on May 11. However, the stock has started to rebound recently on news of an 11.5% year-over-year spike in Chinese overseas sales during March. Chase Coleman‘s Tiger Global Management was the largest stockholder of Vipshop Holdings Ltd – ADR (NYSE:VIPS) at the end of December, holding 49.5 million shares.
#1 NVIDIA Corporation (NASDAQ:NVDA)
– Shares Owned by Keywise Capital (as of March 31): 1.08 Million
– Value of Holding (as of March 31): $38.42 Million
Keywise Capital’s bullish new stake in the $19.9 billion visual-computing company represented more than 32% of its portfolio’s value at the end of March. Shares of the semiconductor company have risen by more than 11% this year and by a whopping 66% in the last year. In a market that is tough for semiconductor companies, NVIDIA Corporation (NASDAQ:NVDA) managed to expand its top line by 7% in the last fiscal year and could significantly benefit from its focus on the connected-car market, as according to PWC, the market’s revenue will quadruple to $130 billion by 2020. Other bullish investors that held NVIDIA Corporation (NASDAQ:NVDA) in their funds’ portfolios at the end of last year include David Harding’s Winton Capital Management and Cliff Asness’ AQR Capital Management.