US hedge funds dumped shares in Chinese companies in Q2

📆 2023/08/15 4:15:00
📰 Reuters

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U.S.-based hedge fund investors such as Coatue, D1 Capital and Scion cut their exposure to Chinese companies in the second quarter, as doubts grew over whether the country's long-awaited reopening would boost its economic growth, and geopolitical tension increased.

The hedge fund slashed its position in Alibaba by roughly 90% from March to June, filings showed.

D1 Capital Partners also dumped all its 1.7 million shares - or $176.8 million - in Alibaba, according to documents. Louis Bacon's Moore Capital Management sold over $200 million in shares of Alibaba, exiting its position in the company.Every quarter, institutional investors have to disclose their equity positions in so-called 13-F filings, but they do not provide any explanation for the positioning changes.

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