Zenit Asset Management Replaces Apple Inc (AAPL), Amazon.com, Inc (AMZN) With Google Inc (GOOG), Alibaba Group Holding Ltd (BABA), Yahoo! Inc. (YHOO)

Alibaba Group Holding Ltd (NYSE:BABA) is now the second-most valuable position in the equity portfolio of the fund manager, consisting of 907,500 shares valued at $74.65 million. The stake in the e-commerce firm accounts for 11.53% of the overall portfolio value of the fund manager. The Chinese e-commerce giant is known for exploring new markets and its rapid expansion tactics. In its latest investment spree, Alibaba Group has invested in one of China’s leading flash sales platforms, Mei.com, which offers luxury fashion products. The online retailer is forming alliances and partnerships to bring down its delivery costs. Alibaba Group Holding Ltd (NYSE:BABA) has an ownership of 14.51% in Singapore Post Limited and the company is planning to invest $206.85 million in SingPost in a new joint venture, which is aimed towards trimming its transportation costs. Alibaba was one of the preferred investment choices of billionaires, with 15 billionaires in our database holding positions in the company at the end of the first quarter. Alibaba’s shares are down by nearly 20% this year, but are up slightly this month. Rob Citrone of Discovery Capital Management was one of the primary shareholders of the firm at the end of the first quarter, holding 8.77 million shares worth $730.36 million.

Yahoo! Inc. (NASDAQ:YHOO) comes in at number three in the equity portfolio of Zenit Asset Management, with a position worth $50.75 million in 1.29 million shares of the tech company, the position increased by 9% in the second quarter. The shares of the struggling company are down by 21.14% year-to-date, but like Alibaba, to which its shares have been closely tied since that company’s IPO, Yahoo’s shares are up slightly in July. Yahoo announced the spin-off of its stake in Alibaba earlier this year and it is likely to fetch $15 billion before taxes. The company is looking for the best ways to save tax dollars on the sale of its 15% stake in Alibaba Group. Yahoo! Inc. (NASDAQ:YHOO) is trying to regain momentum with a series of acquisitions including Tumblr, Brightroll, and Flurry. These acquisitions will help Yahoo broaden its revenue streams and the company expects to generate revenues of $100 million from Tumblr by the end of 2015. Daniel S. Och of OZ Management was the largest stockholder of the company in our database at the end of the first quarter, holding 14.65 million shares valued at $650.88 million. Yahoo was in the equity portfolio of 15 billionaires that we track as of the end of the first quarter.

Disclosure: None