저자: JohnJohnston · 외국인
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13F 공시로 본 슈퍼투자자들의 2023년 4분기 알리바바·JD닷컴 매매 동향을 정리. 마이클 버리(알리바바 +50%, JD +60%), 데이비드 테퍼(알리바바 +20.83%, JD 전량 매도), 하워드 막스(JD +27%, 알리바바 신규 매수) 등 중국 주식 매수/매도 현황 소개. 중국이 투자 불가능하다는 인식이 높을 때 관심이 생긴다는 막스의 성향을 언급. 발언자 본인의 가격 전망은 명시하지 않음.
다듬은 글
which Super investors have been buying Alibaba and jd.com this past quarter the 13 F filings are out from these super investors their fund managers with over a100 million invested in their funds so they have to reveal what they've been buying and selling in the quarter or at least at the end of the quarter so we can see that you can see here this long list of these well-known investors from Warren Buffett and Lee Le Bill Amman really well-known names who have these big funds Su in the billions some of them have been buying Chinese stocks so let's get into who's been buying alib Baba and JD this is from data Roma our website that tracks these things and here we can see Ali Barber group Holdings how many investors the ownership count is 12 these aren't all investors that have bought in the last quarter but we can see here how many own it right up the top is Charlie manga who has recently died of course but the Daily Journal corpse still exists and they haven't sold it off in this past quarter people were wondering that if they were going to sell it off didn't do so well for Charlie Munga when he was alive but maybe he left instructions not to sell it but we have here Michael bur you know from The Big Short who did add 50% in this last quarter and David Tapper well known from Appaloosa management also added some we'll have a lot more in depth than that then we have some other well-known names guy spear who is a friend of mish PB he still owns Alibaba he's done nothing with it in the quarter Prim wats often known as the Canadian Warren Buffett and we see a buy from Howard marks down there I've done videos about Howard Marx before he's a legendary value investor and he has gone in to buy Alibaba has he bought jd.com we'll have a look at that now here we see the specific activity in the quarter there we see Michael bures added 50% 25,000 shares David terer added 20.83% 750,000 shares Howard marks the first buy for him those other investors just added to it in this quarter we can see in the quarter before their buys and sells as well we can also see which investors have reduced in that quarter including Chase Coleman they're selling out 100% with nearly 1.5 million shares selling out in the quarter so some selling and some buying as usual and we can see in the quarter before Q3 2023 where Michael bur did buy in that quarter for the first time I think he's owned it before but he did buy this lot this allotment of shares in that last quarter Q3 2023 50,000 shares so he's added 25,000 to that and Chase Coleman bought in that last quarter nearly 1.5 million shares and then sold out and we see David teer down there from appala Management in that previous quarter reduced shares for 19.55% but in this quarter has added 20.83% again now we move to jd.com we can see the investors who hold this Michael bur there added 60% in the quarter Chase Coleman reduced nearly 11% Howard Marx added 27% and Christopher Davis reduced 5.86 so fewer investors who own the stock here but let's have a closer look at the activity so in this past quarter we see Michael bur added 60% to his JD position 75,000 Shar Howard marks from Oak Tree Capital Management added 27.3% nearly half a million shares it's a big firm with a lot of funds under management and Christopher Davis reduced there were a few other investors that reduced there Chase Coleman and David teer sold 100% of JD so he lost conviction on that in this quarter and sold out of that he does have Alibaba but he sold out of JD and in that quarter before in Q3 2023 we said Howard marks added 68.7 when I say how it marks but it doesn't necessarily mean it's him he has said in interviews and podcast I've heard him say that you know when he heard that China was uninvestable that's when he Pricks up his ears that's when he gets interested and he was obviously serious about that at the time this was a few months ago and he has bought both of these stocks in China at this time and Michael bur there we can see that he has bought in that last quarter of Q3 of 125,000 shares and he added 75,000 to that of JD and others that are sold out in Q3 we can see there including well David tier reduced by 10% there and he sold out in Q for 100% now I think it's interesting to go more in depth to these portfolios this is Michael bur for the quarter he's actually bought a lot of stocks in that quarter and usually a lot cuz he hasn't been a huge buyer lately he can trade in and out quite quickly so keeping in mind that this was at the end of 2023 so he may even be out of them already we just don't know but what's interesting is that his biggest position is Alibaba it says 6.15% of the portfolio and JD is number two 6.11 so those two Chinese stocks obviously has quite a lot of conviction in there he's added to it and it's his biggest allocations we can see other ones down that he's bought during the quarter HCA Healthcare Oracle City Group CVS Health Corp and he's reduced nextar media Corp and he's bought alphabet Google as well 5.17 he's bought that not just added to it in that past quarter so that's notable as well he sold starbolt carriers cour he bought Amazon as well MGM Resorts booking Holdings he reduced by 16% Advanced Auto Parts Warner Brothers vital energy block what block this course water which is a surprise as well as other stocks there we see toast the real reel which he's had and reduced by 12.69% curate retail right down the bottom there I've seen quite a few value investors go in and out of that mostly losing money over the past few years but he's got a little bit of conviction in that he bought it it's only 0.56% of the portfolio so now we move to David terer portfolio Appaloosa management we can see there if we look for Alibaba and JD in there so at the top is actually meta platform still the biggest position they reduced just a little bit 5% they would have done out well pretty well out of that Microsoft have added 3.98% even during this AI exuberance Amazon they've also added 5.33% Nvidia reduced 22.9 3% that's not surprising to see given what's happened to the price it would have done well out of that but you know moving out of that perhaps bit bit of safety there as things get as the market gets very exuberant for AI stocks Uber also reduced by 177% Alibaba here we are the sixth biggest position is 20.83% they added to and it's almost 6% of the portfolio next comes alphabet right under that and they reduced that by 16 just over 16% that's 5.73% of the portfolio and Advanced Micro Devices below that so it's interesting to see what David terer is buying and selling or you know the allocation to the portfolio it drops below 5% pretty quickly Intel Corp they reduced by 26% qu K is in there it's 23% reduction Oracle they bought Oracle and pinalo another Chinese stock there reduced by 44.6 4% during that quarter so adding to Alibaba but reducing pin Doo substantially in that quarter they have other stocks have added to like Caesars they reduced Micron Technology quite a lot 133% by do another Chinese stock interesting to look for Chinese other Chinese stocks in here they reduced that by 6% during the quarter and Taiwan semiconductor reduced by 50% so Warren Buffett famously bought into that quite big multi-billions and then sold out and in the birkshire meeting said that it was a great company one of the world's best companies but in a bad location as he saw it with this tension between the US and China and is China One day going to walk into Taiwan and try and take it over he didn't he didn't like that he sort of specifically said the location wasn't great for him let's move to Howard marks and see more of the stocks that they've been buying I say them because it's quite a big firm you can see the amount of portfolio value there so it's not just him but as I said he was talking about Chinese stocks how he he was becoming interested because it was uninvestable and for a value investor a you know long-term value investor he getss interested when people start to say it's uninvestable be greedy when others are fearful as Warren Buffet said so we can see JD down here it's only 1.16% of the whole portfolio that's but that and that's an ad of 27.3% if we just look at the percentage we might think that we might get a different impression but it's not a huge amount if we can see up there the biggest positions for them one's 28.6 4% tomor plc and Chesapeake Energy are their biggest positions Garrett motion which is a reasonably small company I've seen that on value screens as being cheap for quite a few years but these are pretty small positions that we're talking about here going down here for alib babar's .7% that they bought into there but still represents quite a lot of money cuz it's a big fund and him and hers health comes just below that remember that they were involved in bringing the back to Market back then so they still they're not sold out of that seen people talking about that stock I haven't looked at it here we can see the buys and the sells in a group so we can see jd.com there even though they added 27% it's kind of up there in in in their biggest buys for the quarter greater conviction than Alibaba which is a buy see down there buy of 12.2 th000 shares and.
17% change in the portfolio so it's a it's an adding to jd.com and a buying for Alibaba now what do you think of these buys and sells from these super investors during this past quarter do you think it's been going to be a good idea to buy Alibaba or JD during this quarter prices haven't really move that much it will be interesting to see if they buy any more are you an investor in these companies what do you think let me know in the comments what you think of these buys and selles and of the companies now if you don't know already I've started the art of value patreon just for the price of a cup of coffee each month I'm talking about the stocks that I own the stocks I'm researching more in depth of some of the things I'm talking about here I'll put Link in the description if you want to go and video here of w based on your history and so forth so go and watch
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