Bacon’s Moore Adds to Alibaba, China ETF, Sells Baidu Stock

Billionaire Louis Bacon’s Moore Capital Management added shares of Alibaba Group Holding Ltd. in the quarter, sold stock in Baidu Inc. and exited the SPDR S&P Retail ETF.

The hedge fund added 1.99 million shares of Alibaba and the value of its stake increased by $162.5 million to $176.9 million as of March 31, the biggest gain among previously disclosed holdings, according to a quarterly filing with the Securities and Exchange Commission. It also added 2.8 million shares in the iShares China Large-Cap ETF taking the position to 4 million shares worth $178.5 million.

Moore cut its investment in Baidu by 136,496 shares, leaving 319,689 valued at $66.6 million, a decline of 36 percent.

The firm liquidated its $105.1 million investment in SPDR S&P Retail, selling 1.1 million shares.

Moore’s disclosed equity holdings rose in value by 24 percent to $2.8 billion during the quarter, a period when the Standard & Poor’s 500 Index of U.S. equities rose 0.4 percent.

The firm owned shares in 338 companies at the end of the quarter and 162 of them were newly reported, led by a $34.7 million stake in Signet Jewelers Ltd. and a $34.3 million holding in Amazon.com Inc..

Money managers who oversee more than $100 million in equities in the U.S. must file a Form 13F within 45 days of each quarter’s end to list those stocks as well as options and convertible bonds. The filings don’t show non-U.S. securities, holdings that aren’t publicly traded, or cash.

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