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href="https://web.archive.org/web/20160601071010/https://instagram.com/bloomberg" class="bb-that-category__social-link bb-that--icon-instagram" target="_blank">Instagram</a></li></ul></section> </li> <li class="bb-that__col bb-that__col--md"> <section class="bb-that-category"> <h2 class="bb-that-category__title">Financial Products</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/professional/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-CORE-bbgmenu">Bloomberg Terminal</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergtradebook.com/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-02-13-TBOOK-bbgmenu">Bloomberg Tradebook</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergbriefs.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Briefs</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergindices.com/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-05-13-Indices-bbgmenu">Bloomberg Indices</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergsef.com/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-08-13-SEF-bbgmenu">Bloomberg SEF</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://about.bloomberginstitute.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Institute</a></li></ul></section> <section class="bb-that-category"> <h2 class="bb-that-category__title">Bloomberg Customers</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/https://bba.bloomberg.net/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Anywhere Remote Login</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/professional/downloads/?utm_source=bloomberg-menu&utm_medium=bcom">Download Software</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://service.bloomberg.com/portal/sessions/new?utm_source=bloomberg-menu&utm_medium=bcom">Service Center</a></li></ul></section> </li> <li class="bb-that__col bb-that__col--md"> <section class="bb-that-category"> <h2 class="bb-that-category__title">Enterprise Products</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/enterprise/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-09-13-ES-bbgmenu">Enterprise Solutions</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/trading-solutions/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-09-13-TS-bbgmenu">Trading Solutions</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/vault/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-09-13-ES-BVAULT-bbgmenu">Bloomberg Vault</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergpolarlake.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg PolarLake</a></li></ul></section> <section class="bb-that-category"> <h2 class="bb-that-category__title">Industry Products</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://about.bgov.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Government</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bna.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Law/BNA</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/https://bol.bna.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Big Law</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://about.bnef.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg New Energy Finance</a></li></ul></section> </li> <li class="bb-that__col bb-that__col--md"> <section class="bb-that-category"> <h2 class="bb-that-category__title">Media</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg.com</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/politics/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Politics</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergview.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg View</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/gadfly/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Gadfly</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/live?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Television</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/radio/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Radio</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/mobile/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Mobile Apps</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/company/news-bureaus/?utm_source=bloomberg-menu&utm_medium=bcom">News Bureaus</a></li></ul></section> <section class="bb-that-category"> <h2 class="bb-that-category__title">Media Services</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberglive.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Live Conferences</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/content-service/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Content Service</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergmedia.com/?utm_source=bloomberg-menu&utm_medium=bcom">Advertising</a></li></ul></section> </li> </ul> <ul class="bb-that__sitemap-sections bb-that--visible-sm"> <li class="bb-that__col bb-that__col--sm"> <section class="bb-that-category"> <h2 class="bb-that-category__title">Bloomberg</h2> <div class="bb-that-category__content"><p class="bb-that-category__text">Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.</p></div></section> <section class="bb-that-category"> <h2 class="bb-that-category__title">Customer Support</h2> <div class="bb-that-category__content"><p class="bb-that-category__text">Americas<br> +1 212 318 2000</p><p class="bb-that-category__text">Europe, Middle East, & Africa<br> +44 20 7330 7500</p><p class="bb-that-category__text">Asia Pacific<br> +65 6212 1000</p></div></section> <section class="bb-that-category"> <h2 class="bb-that-category__title">Communications</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/company/announcements/?utm_source=bloomberg-menu&utm_medium=bcom">Press Announcements</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/company/press-contacts/?utm_source=bloomberg-menu&utm_medium=bcom">Press Contacts</a></li></ul></section> <section class="bb-that-category"> <h2 class="bb-that-category__title">Follow Us</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a href="https://web.archive.org/web/20160601071010/http://www.facebook.com/Bloomberglp" class="bb-that-category__social-link bb-that--icon-facebook" target="_blank">Facebook</a></li><li class="bb-that-category__item"><a href="https://web.archive.org/web/20160601071010/https://twitter.com/bloomberg" class="bb-that-category__social-link bb-that--icon-twitter" target="_blank">Twitter</a></li><li class="bb-that-category__item"><a href="https://web.archive.org/web/20160601071010/https://www.linkedin.com/company/2494" class="bb-that-category__social-link bb-that--icon-linkedin" target="_blank">LinkedIn</a></li><li class="bb-that-category__item"><a href="https://web.archive.org/web/20160601071010/https://instagram.com/bloomberg" class="bb-that-category__social-link bb-that--icon-instagram" target="_blank">Instagram</a></li></ul></section> </li> <li class="bb-that__col bb-that__col--sm"> <section class="bb-that-category"> <h2 class="bb-that-category__title">Company</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/careers/?utm_source=bloomberg-menu&utm_medium=bcom">Careers</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/diversity-inclusion/?utm_source=bloomberg-menu&utm_medium=bcom">Diversity & Inclusion</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/philanthropy/?utm_source=bloomberg-menu&utm_medium=bcom">Philanthropy & Engagement</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/bcause/?utm_source=bloomberg-menu&utm_medium=bcom">Sustainability</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/company/technology/?utm_source=bloomberg-menu&utm_medium=bcom">Technology</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/company/bloomberg-facts/?utm_source=bloomberg-menu&utm_medium=bcom">History & Facts</a></li></ul></section> <section class="bb-that-category"> <h2 class="bb-that-category__title">Media</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg.com</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/politics/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Politics</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergview.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg View</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/live?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Television</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/radio/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Radio</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/mobile/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Mobile Apps</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/company/news-bureaus/?utm_source=bloomberg-menu&utm_medium=bcom">News Bureaus</a></li></ul></section> <section class="bb-that-category"> <h2 class="bb-that-category__title">Media Services</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergmedia.com/?utm_source=bloomberg-menu&utm_medium=bcom">Advertising</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/content-service/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Content Service</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberglive.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Live Conferences</a></li></ul></section> </li> <li class="bb-that__col bb-that__col--sm"> <section class="bb-that-category"> <h2 class="bb-that-category__title">Financial Products</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/professional/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-CORE-bbgmenu">Bloomberg Terminal</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergtradebook.com/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-02-13-TBOOK-bbgmenu">Bloomberg Tradebook</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergbriefs.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Briefs</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergindices.com/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-05-13-Indices-bbgmenu">Bloomberg Indices</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergsef.com/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-08-13-SEF-bbgmenu">Bloomberg SEF</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://about.bloomberginstitute.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Institute</a></li></ul></section> <section class="bb-that-category"> <h2 class="bb-that-category__title">Enterprise Products</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/enterprise/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-09-13-ES-bbgmenu">Enterprise Solutions</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/trading-solutions/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-09-13-TS-bbgmenu">Trading Solutions</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/vault/?utm_source=bloomberg-menu&utm_medium=bcom&bbgsum=DG-WS-09-13-ES-BVAULT-bbgmenu">Bloomberg Vault</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bloombergpolarlake.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg PolarLake</a></li></ul></section> <section class="bb-that-category"> <h2 class="bb-that-category__title">Industry Products</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://about.bgov.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Government</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://www.bna.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Law/BNA</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/https://bol.bna.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Big Law</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/http://about.bnef.com/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg New Energy Finance</a></li></ul></section> <section class="bb-that-category"> <h2 class="bb-that-category__title">Bloomberg Customers</h2> <ul class="bb-that-category__content"><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://web.archive.org/web/20160601071010/https://bba.bloomberg.net/?utm_source=bloomberg-menu&utm_medium=bcom">Bloomberg Anywhere Remote Login</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" 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href="https://web.archive.org/web/20160601071010/whatsapp://send/?text=Tybourne%2C%20Myriad%20Among%20Largest%20Hedge-Fund%20Buyers%20of%20Alibaba%20http%3A%2F%2Fbloom.bg%2F1PNqUoV" rel="nofollow" data-social-network="whatsapp" target="bb-social-popup--whatsapp" data-action="share/whatsapp/share" data-tracker-label="whatsapp" data-tracker-action="click">Share on WhatsApp</a></div></div> </div> </div></div></div> </div><div class="article-body__content"> <p>Tybourne Capital Managment (HK) and Myriad Asset Management were among the largest hedge-fund buyers of Alibaba Group Holding Ltd. shares in the third quarter, before the Chinese e-commerce giant rallied more than 30 percent.</p><p>Tybourne, founded by a former Asia head of Lone Pine Capital in Hong Kong, purchased 5 million American depository receipts, the single-largest hedge-fund buyer in the three months ended Sept. 30, according to data compiled by Bloomberg from regulatory filings. Myriad, also based in Hong Kong and led by a former regional head of Highbridge Capital Management, added more than 1 million Alibaba ADRs, bringing its stake to 1.5 million shares.</p><p>Tybourne and Myriad ranked among the top four hedge-fund buyers of Alibaba ADRs along larger global peers Och-Ziff Capital Management Group LLC and DE Shaw Investments in the third quarter. Alibaba ADRs slumped 28 percent in the quarter as trading restrictions introduced upon its $25 billion initial public offering in September last year drew to an end, freeing some of its largest stakeholders to sell shares. Asset managers including Coatue Management and Appaloosa Management sold their stakes, according to data compiled by Bloomberg.</p><div data-view-uid="1|0_3_1_8"><div id="1|0_3_1_8" class="ad-v2 on-mobile" data-position="box1"> <script type="text/javascript"> (function(global) { global.bbLoader.enqueue("critical", function() { global.__bloomberg__.ads.createAd({ adCode: "business/news/technology/article", dimensions: {"mobile":[[300,250],[5,5],[1,1]]}, id: "1|0_3_1_8", strategy: "", targeting: {"suid":"NXYD5H6KLVR701","page":"article","currentResource":"Story|NXYD5H6KLVR701","ni":["ACEXCLUDE","ALLFEA","ALLFND","ALLTOP","ALLWWCUR","ASBNX","ASIAME","ASIASTAFF","ASIASTORY","ASIATOP","ASIATOPZ3","ASIATOPZ6","ASIATOPZ7","ASINS","ATECH","BIZNEWS","BNALL","BNCOPY","BNCOPY2","BNSTAFF","BNTEAMS","BUSINESS","CNTOP","CNTOPZ3","CNTOPZ4","FINNEWS","FND","FNDTOP","FNDTOPZ1","FXKEY","FNDTOPZ3","GOWEB","HCX","HLNOVEL","HLNOVELTY9","MARKETS","NOVEL","NOVELTY9","ONWEB","ORIGINAL","READ","READ100","READ150","READ25","READ250","READ50","READ500","READ700","SENT","SSX","TOP","TOPBIZMKT","WWTOP","WWTOPBIZ","WWTOPZ3","WWTOPZ4","WORLD","AGRKEY","WEBELIG","TIMENI","BB","BBPROFILE","BGOVBILLGO","BGOVCODES","BONDWIRES","TIMECO","SRCRANK1","SPREGIONS","RATESKEY","OILKEY","NRGKEY","CMDGLOMAC","CMDKEY","MISC","METALKEY","MAJOR","INTERNAL","COS","CREDITKEY","DEBTKEY","HEDGE","GLOMACBB","GLOBALMACR","EQUITYKEY","FNDTOPZ2","INDUSTRIES","COEVNT","STK","CORPFIN","CONS","ECOM","TEC","RETD","CONSD","INTERNET","BRIC","EM","ASIA","MSCIEMAS","MSCIWORLD","NASIA","FIASST","FIALL","PFD","ASIAX","ECO","CECO","CHINA","CACT","PLACE","INI","CHECO","BRICECO","MKTMISC","ADR","NEWSTK"],"tagr":["","hedgefunds"],"kwl":["biz_bankofamerica_exclusion","biz_capone","biz_ibm","biz_testing123","biz_exxonmobil","biz_microsoft","biz_xerox","biz_hsbc","biz_pitney","biz_ubsbannedlist"],"position":"box1","url":"/news/articles/2015-11-18/tybourne-myriad-among-largest-hedge-fund-buyers-of-alibaba"}, targetingModifiers: [global.__bloomberg__.byzantium.getTags] }); }); })(window); </script> </div></div><p>Spokespeople for Tybourne and Myriad declined to comment. Tybourne, with Eashwar Krishnan at the helm, manages $3.7 billion in assets, including a $2.5 billion hedge fund that bets on rising and falling stocks, and a long-only fund. Myriad, led by Carl Huttenlocher, oversees more than $4 billion in hedge funds.</p><h3>Shares Drop </h3><p>Alibaba shares lost as much as 45 percent of their value this year as the Hangzhou-based company came under <a itemscope="itemscope" itemprop="StoryLink" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/news/articles/2015-01-28/china-accuses-alibaba-of-lacking-proper-oversight-of-merchants" title="Alibaba Fails to Curb Fake Goods, Bribes, China Government Says" data-tracker-action="click" data-tracker-category="recirc" data-tracker-label="inline_link.01"><meta itemprop="ident" content="a:idm404186828"><meta itemprop="active" content="true"><meta itemprop="type" content="StoryLink"><meta itemprop="suid" content="NIW9JE6JIJUW">fire</a> from a Chinese government agency over the handling of fake goods, cut deals that baffled investors and replaced its chief executive officer after growth slowed. Investors were also concerned about China’s weakest economic expansion in 25 years weighing on the company’s outlook. The stock traded at a low of 23 times this year’s earnings on Sept. 30, against a multiple of almost 51 times on Nov. 30, 2014, according to data compiled by Bloomberg.</p><p>Alibaba ADRs traded at an average price of $72.86 apiece in the three months ended September. </p><p>Myriad was a pre-IPO investor in Alibaba’s 2012 sale of convertible preferred shares. The investment helped drive a 20 percent return for its flagship hedge fund in 2014. It <a itemscope="itemscope" itemprop="StoryLink" href="https://web.archive.org/web/20160601071010/http://www.bloomberg.com/news/articles/2015-02-27/myriad-hedge-fund-sold-bulk-of-its-alibaba-stake-soon-after-ipo" title="Myriad Hedge Fund Sold Bulk of Its Alibaba Stake Last Year (1)" data-tracker-action="click" data-tracker-category="recirc" data-tracker-label="inline_link.02"><meta itemprop="ident" content="a:idm404180556"><meta itemprop="active" content="true"><meta itemprop="type" content="StoryLink"><meta itemprop="suid" content="NKF14U6JIJVA">sold</a> more than 90 percent of its holding of Alibaba ADRs in the fourth quarter of 2014.</p><div data-view-uid="1|0_3_1_9"><div id="1|0_3_1_9" class="ad-v2 on-mobile" data-position="in-article"> <script type="text/javascript"> (function(global) { global.bbLoader.enqueue("critical", function() { global.__bloomberg__.ads.createAd({ adCode: "business/news/technology/article", dimensions: {"mobile":[[5,9]]}, id: "1|0_3_1_9", strategy: "", targeting: {"suid":"NXYD5H6KLVR701","page":"article","currentResource":"Story|NXYD5H6KLVR701","ni":["ACEXCLUDE","ALLFEA","ALLFND","ALLTOP","ALLWWCUR","ASBNX","ASIAME","ASIASTAFF","ASIASTORY","ASIATOP","ASIATOPZ3","ASIATOPZ6","ASIATOPZ7","ASINS","ATECH","BIZNEWS","BNALL","BNCOPY","BNCOPY2","BNSTAFF","BNTEAMS","BUSINESS","CNTOP","CNTOPZ3","CNTOPZ4","FINNEWS","FND","FNDTOP","FNDTOPZ1","FXKEY","FNDTOPZ3","GOWEB","HCX","HLNOVEL","HLNOVELTY9","MARKETS","NOVEL","NOVELTY9","ONWEB","ORIGINAL","READ","READ100","READ150","READ25","READ250","READ50","READ500","READ700","SENT","SSX","TOP","TOPBIZMKT","WWTOP","WWTOPBIZ","WWTOPZ3","WWTOPZ4","WORLD","AGRKEY","WEBELIG","TIMENI","BB","BBPROFILE","BGOVBILLGO","BGOVCODES","BONDWIRES","TIMECO","SRCRANK1","SPREGIONS","RATESKEY","OILKEY","NRGKEY","CMDGLOMAC","CMDKEY","MISC","METALKEY","MAJOR","INTERNAL","COS","CREDITKEY","DEBTKEY","HEDGE","GLOMACBB","GLOBALMACR","EQUITYKEY","FNDTOPZ2","INDUSTRIES","COEVNT","STK","CORPFIN","CONS","ECOM","TEC","RETD","CONSD","INTERNET","BRIC","EM","ASIA","MSCIEMAS","MSCIWORLD","NASIA","FIASST","FIALL","PFD","ASIAX","ECO","CECO","CHINA","CACT","PLACE","INI","CHECO","BRICECO","MKTMISC","ADR","NEWSTK"],"tagr":["","hedgefunds"],"kwl":["biz_bankofamerica_exclusion","biz_capone","biz_ibm","biz_testing123","biz_exxonmobil","biz_microsoft","biz_xerox","biz_hsbc","biz_pitney","biz_ubsbannedlist"],"position":"in-article","url":"/news/articles/2015-11-18/tybourne-myriad-among-largest-hedge-fund-buyers-of-alibaba"}, targetingModifiers: [global.__bloomberg__.byzantium.getTags] }); }); })(window); </script> </div></div><p>Tybourne, which also held shares in global technology stocks such as Amazon.com Inc., Yelp Inc., had not previously disclosed any Alibaba stake. Alibaba represented its second-largest holding of U.S.-traded securities that it was required to disclose in the so-called quarterly 13F filings at the end of September. Tybourne’s hedge fund returned 3.5 percent in October for a 17 percent gain this year, said a person with knowledge of the matter, who asked not to be named as the information is private.</p><p>Among investors that reduced Alibaba holdings in the third quarter were Singapore state-owned investment firm Temasek Holdings Pte and its Seatown Holdings International hedge-fund unit. Stephen Forshaw, a spokesman for Temasek, confirmed the filing while declining to comment further. 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<div class=\"bb-nav-bomb-module\" data-module-vertical=\"markets\" data-tracker-label=\"markets\"> <div class=\"bb-nav-bomb-module__title\"> <a href=\"http://www.bloomberg.com/markets\" class=\"bb-nav-bomb-module__link\" data-tracker-label=\"title\" data-tracker-action=\"click\"> Markets </a> </div> <div class=\"bb-nav-bomb-module__stories\"> <div class=\"bb-nav-bomb-module-story\" data-tracker-label=\"story_0\"> <div class=\"bb-nav-bomb-module-story__info\"> <a href=\"http://www.bloomberg.com/news/articles/2016-06-01/u-k-house-price-growth-stable-at-0-2-as-investor-surge-wanes\" class=\"bb-nav-bomb-module-story__headline\" data-tracker-label=\"headline\" data-tracker-action=\"click\"> U.K. House-Price Growth Stable at 0.2% as Investor Surge Wanes </a> <time datetime=\"2016-06-01T07:02:20.185Z\" class=\"bb-nav-timestamp\"> Jun 1, 2016 </time> </div> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_1\"> <a href=\"http://www.bloomberg.com/markets/stocks\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Stocks </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_2\"> <a href=\"http://www.bloomberg.com/markets/currencies\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Currencies </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_3\"> <a href=\"http://www.bloomberg.com/markets/commodities\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Commodities </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_4\"> <a href=\"http://www.bloomberg.com/markets/rates-bonds\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Rates + Bonds </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_5\"> <a href=\"http://www.bloomberg.com/markets/markets-magazine\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Magazine </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_6\"> <a href=\"http://www.bloomberg.com/markets/benchmark\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Benchmark </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_7\"> <a href=\"http://www.bloomberg.com/markets/watchlist\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Watchlist </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_8\"> <a href=\"http://www.bloomberg.com/markets/economic-calendar\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Economic Calendar </a> </div> <div class=\"bb-nav-bomb-module-ad\"> <bb-ad 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datetime=\"2016-06-01T07:02:30.717Z\" class=\"bb-nav-timestamp\"> Jun 1, 2016 </time> </div> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_1\"> <a href=\"http://www.bloomberg.com/topics/silicon-valley\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Silicon Valley </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_2\"> <a href=\"http://www.bloomberg.com/topics/global-tech\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Global Tech </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_3\"> <a href=\"http://www.bloomberg.com/topics/startups\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Venture Capital </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_4\"> <a href=\"http://www.bloomberg.com/topics/cybersecurity\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Hacking </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_5\"> <a href=\"http://www.bloomberg.com/topics/entertainment\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Digital Media </a> </div> <div class=\"bb-nav-bomb-module-ad\"> <bb-ad ad-code=\"bloomberg/nav\" position=\"navtech\" target=\"bloomberg/nav\" dimensions='{\"tablet\":[[5,14]],\"small_desktop\":[[5,14]],\"large_desktop\":[[5,14]]}' ></bb-ad> </div> </div> </div><div class=\"bb-nav-bomb-module\" data-module-vertical=\"politics\" data-tracker-label=\"politics\"> <div class=\"bb-nav-bomb-module__title\"> <a href=\"http://www.bloomberg.com/politics\" class=\"bb-nav-bomb-module__link\" data-tracker-label=\"title\" data-tracker-action=\"click\"> Politics </a> </div> <div class=\"bb-nav-bomb-module__stories\"> <div class=\"bb-nav-bomb-module-story\" data-tracker-label=\"story_0\"> <div class=\"bb-nav-bomb-module-story__info\"> <a href=\"http://www.bloomberg.com/politics/articles/2016-06-01/trump-looks-to-rnc-for-rapid-response-assist\" class=\"bb-nav-bomb-module-story__headline\" data-tracker-label=\"headline\" data-tracker-action=\"click\"> Trump Looks to RNC for Rapid Response Assist </a> <time datetime=\"2016-06-01T06:45:13.378Z\" class=\"bb-nav-timestamp\"> Jun 1, 2016 </time> </div> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_1\"> <a href=\"http://www.bloomberg.com/politics/topics/wadr-full-episode\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> With All Due Respect </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_2\"> <a href=\"http://www.bloomberg.com/politics/graphics/2016-delegate-tracker/\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Delegate Tracker </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_3\"> <a href=\"http://www.bloomberg.com/podcasts/culture_caucus\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Culture Caucus Podcast </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_4\"> <a href=\"http://www.bloomberg.com/podcasts/masters_in_politics\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Masters In Politics Podcast </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_5\"> <a href=\"http://www.bloomberg.com/politics/graphics/2016-voter-spotify-listens/\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> What The Voters Are Streaming </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_6\"> <a href=\"http://www.bloomberg.com/politics/topics/editors-picks\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Editors' Picks </a> </div> <div class=\"bb-nav-bomb-module-ad\"> <bb-ad ad-code=\"bloomberg/nav\" position=\"navpolitics\" target=\"bloomberg/nav\" dimensions='{\"tablet\":[[5,14]],\"small_desktop\":[[5,14]],\"large_desktop\":[[5,14]]}' ></bb-ad> </div> </div> </div><div class=\"bb-nav-bomb-module\" data-module-vertical=\"pursuits\" data-tracker-label=\"pursuits\"> <div class=\"bb-nav-bomb-module__title\"> <a href=\"http://www.bloomberg.com/pursuits\" class=\"bb-nav-bomb-module__link\" data-tracker-label=\"title\" data-tracker-action=\"click\"> Pursuits </a> </div> <div class=\"bb-nav-bomb-module__stories\"> <div class=\"bb-nav-bomb-module-story\" data-tracker-label=\"story_0\"> <div class=\"bb-nav-bomb-module-story__info\"> <a href=\"http://www.bloomberg.com/news/articles/2016-05-31/ferrari-458-mm-speciale-a-crazy-creation-for-one-lucky-driver\" class=\"bb-nav-bomb-module-story__headline\" data-tracker-label=\"headline\" data-tracker-action=\"click\"> Ferrari 458 MM Speciale: A Crazy Creation for One Lucky Driver </a> <time datetime=\"2016-06-01T07:08:01.996Z\" class=\"bb-nav-timestamp\"> Jun 1, 2016 </time> </div> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_1\"> <a href=\"http://www.bloomberg.com/pursuits/cars-bikes\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Cars & Bikes </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_2\"> <a href=\"http://www.bloomberg.com/pursuits/style-grooming\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Style & Grooming </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_3\"> <a href=\"http://www.bloomberg.com/pursuits/spend\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Spend </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_4\"> <a href=\"http://www.bloomberg.com/pursuits/watches-gadgets\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Watches & Gadgets </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_5\"> <a href=\"http://www.bloomberg.com/pursuits/food-drinks\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Food & Drinks </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_6\"> <a href=\"http://www.bloomberg.com/pursuits/travel\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Travel </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_7\"> <a href=\"http://www.bloomberg.com/pursuits/real-estate\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Real Estate </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_8\"> <a href=\"http://www.bloomberg.com/pursuits/art-design\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Art & Design </a> </div> <div class=\"bb-nav-bomb-module-ad\"> <bb-ad ad-code=\"bloomberg/nav\" position=\"navpursuits\" target=\"bloomberg/nav\" dimensions='{\"tablet\":[[5,14]],\"small_desktop\":[[5,14]],\"large_desktop\":[[5,14]]}' ></bb-ad> </div> </div> </div><div class=\"bb-nav-bomb-module\" data-module-vertical=\"opinion\" data-tracker-label=\"opinion\"> <div class=\"bb-nav-bomb-module__title\"> <span class=\"bb-nav-bomb-module__link\" data-tracker-label=\"title\" data-tracker-action=\"click\"> Opinion </span> </div> <div class=\"bb-nav-bomb-module__stories\"> <div class=\"bb-nav-bomb-module-story\" data-tracker-label=\"story_0\"> <div class=\"bb-nav-bomb-module-story__info\"> <a href=\"http://www.bloombergview.com/articles/2016-05-31/abe-can-do-more-to-spur-japan-s-economic-recovery\" class=\"bb-nav-bomb-module-story__headline\" data-tracker-label=\"headline\" data-tracker-action=\"click\"> Abe Can Do More to Spur Japan's Economic Recovery </a> <time datetime=\"2016-06-01T02:34:07.802Z\" class=\"bb-nav-timestamp\"> Updated 5 hours ago </time> </div> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_1\"> <a href=\"http://www.bloomberg.com/view/\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> View </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_2\"> <a href=\"http://www.bloomberg.com/gadfly/\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Gadfly </a> </div> <div class=\"bb-nav-bomb-module-ad\"> <bb-ad ad-code=\"bloomberg/nav\" position=\"navopinion\" target=\"bloomberg/nav\" dimensions='{\"tablet\":[[5,14]],\"small_desktop\":[[5,14]],\"large_desktop\":[[5,14]]}' ></bb-ad> </div> </div> </div><div class=\"bb-nav-bomb-module\" data-module-vertical=\"businessweek\" data-tracker-label=\"businessweek\"> <div class=\"bb-nav-bomb-module__title\"> <a href=\"http://www.bloomberg.com/businessweek\" class=\"bb-nav-bomb-module__link\" data-tracker-label=\"title\" data-tracker-action=\"click\"> Businessweek </a> </div> <div class=\"bb-nav-bomb-module__stories\"> <div class=\"bb-nav-bomb-module-story\" data-tracker-label=\"story_0\"> <div class=\"bb-nav-bomb-module-story__info\"> <a href=\"http://www.bloomberg.com/news/articles/2016-05-26/better-business-from-dumpster-diving\" class=\"bb-nav-bomb-module-story__headline\" data-tracker-label=\"headline\" data-tracker-action=\"click\"> Better Business From Dumpster Diving </a> <time datetime=\"2016-05-26T21:01:53.278Z\" class=\"bb-nav-timestamp\"> Updated 5 days ago </time> </div> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_1\"> <a href=\"https://subscribe.businessweek.com/servlet/OrdersGateway?cds_mag_code=BWK&cds_page_id=200920\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Subscribe </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_2\"> <a href=\"http://www.bloomberg.com/topics/cover-story\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Cover Stories </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_3\"> <a href=\"http://www.bloomberg.com/topics/opening-remarks\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" data-tracker-action=\"click\"> Opening Remarks </a> </div><div class=\"bb-nav-bomb-module-link\" data-tracker-label=\"story_4\"> <a href=\"http://www.bloomberg.com/topics/etc\" class=\"bb-nav-bomb-module-link__label\" data-tracker-label=\"link\" 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Capital Managment (HK) and Myriad Asset Management were among the largest hedge-fund buyers of Alibaba Group Holding Ltd. shares in the third quarter, before the Chinese e-commerce giant rallied more than 30 percent.</p><p>Tybourne, founded by a former Asia head of Lone Pine Capital in Hong Kong, purchased 5 million American depository receipts, the single-largest hedge-fund buyer in the three months ended Sept. 30, according to data compiled by Bloomberg from regulatory filings. Myriad, also based in Hong Kong and led by a former regional head of Highbridge Capital Management, added more than 1 million Alibaba ADRs, bringing its stake to 1.5 million shares.</p><p>Tybourne and Myriad ranked among the top four hedge-fund buyers of Alibaba ADRs along larger global peers Och-Ziff Capital Management Group LLC and DE Shaw Investments in the third quarter. Alibaba ADRs slumped 28 percent in the quarter as trading restrictions introduced upon its $25 billion initial public offering in September last year drew to an end, freeing some of its largest stakeholders to sell shares. Asset managers including Coatue Management and Appaloosa Management sold their stakes, according to data compiled by Bloomberg.</p><p>Spokespeople for Tybourne and Myriad declined to comment. Tybourne, with Eashwar Krishnan at the helm, manages $3.7 billion in assets, including a $2.5 billion hedge fund that bets on rising and falling stocks, and a long-only fund. Myriad, led by Carl Huttenlocher, oversees more than $4 billion in hedge funds.</p><h3>Shares Drop </h3><p>Alibaba shares lost as much as 45 percent of their value this year as the Hangzhou-based company came under <a itemscope=\"itemscope\" itemprop=\"StoryLink\" href=\"http://www.bloomberg.com/news/articles/2015-01-28/china-accuses-alibaba-of-lacking-proper-oversight-of-merchants\" title=\"Alibaba Fails to Curb Fake Goods, Bribes, China Government Says\"><meta itemprop=\"ident\" content=\"a:idm404186828\"><meta itemprop=\"active\" content=\"true\"><meta itemprop=\"type\" content=\"StoryLink\"><meta itemprop=\"suid\" content=\"NIW9JE6JIJUW\">fire</a> from a Chinese government agency over the handling of fake goods, cut deals that baffled investors and replaced its chief executive officer after growth slowed. Investors were also concerned about China’s weakest economic expansion in 25 years weighing on the company’s outlook. The stock traded at a low of 23 times this year’s earnings on Sept. 30, against a multiple of almost 51 times on Nov. 30, 2014, according to data compiled by Bloomberg.</p><p>Alibaba ADRs traded at an average price of $72.86 apiece in the three months ended September. </p><p>Myriad was a pre-IPO investor in Alibaba’s 2012 sale of convertible preferred shares. The investment helped drive a 20 percent return for its flagship hedge fund in 2014. It <a itemscope=\"itemscope\" itemprop=\"StoryLink\" href=\"http://www.bloomberg.com/news/articles/2015-02-27/myriad-hedge-fund-sold-bulk-of-its-alibaba-stake-soon-after-ipo\" title=\"Myriad Hedge Fund Sold Bulk of Its Alibaba Stake Last Year (1)\"><meta itemprop=\"ident\" content=\"a:idm404180556\"><meta itemprop=\"active\" content=\"true\"><meta itemprop=\"type\" content=\"StoryLink\"><meta itemprop=\"suid\" content=\"NKF14U6JIJVA\">sold</a> more than 90 percent of its holding of Alibaba ADRs in the fourth quarter of 2014.</p><p>Tybourne, which also held shares in global technology stocks such as Amazon.com Inc., Yelp Inc., had not previously disclosed any Alibaba stake. Alibaba represented its second-largest holding of U.S.-traded securities that it was required to disclose in the so-called quarterly 13F filings at the end of September. Tybourne’s hedge fund returned 3.5 percent in October for a 17 percent gain this year, said a person with knowledge of the matter, who asked not to be named as the information is private.</p><p>Among investors that reduced Alibaba holdings in the third quarter were Singapore state-owned investment firm Temasek Holdings Pte and its Seatown Holdings International hedge-fund unit. Stephen Forshaw, a spokesman for Temasek, confirmed the filing while declining to comment further. Seatown declined to comment for the story.</p>","byline":"Bei Hu and Klaus Wille","categories":["technology","industries","markets","world"],"credits":{"author":[{"fullName":"Bei Hu","id":"15135463","socialFeeds":{"Twitter":"BeiHu1"},"image":{},"slug":"AOby55fLaaY/bei-hu"},{"fullName":"Klaus Wille","id":"6916033","socialFeeds":{"Twitter":null},"image":{},"slug":"AGmHwSRX2oM/klaus-wille"}],"by":[{"fullName":"Bei Hu","id":"15135463","socialFeeds":{"Twitter":"BeiHu1"},"image":{},"slug":"AOby55fLaaY/bei-hu"},{"fullName":"Klaus Wille","id":"6916033","socialFeeds":{"Twitter":null},"image":{},"slug":"AGmHwSRX2oM/klaus-wille"}]},"embeds":{"iframe":{},"slideshow":{}},"footnotes":{},"headline":"Tybourne, Myriad Among Largest Hedge-Fund Buyers of Alibaba","headlines":{"web":"Tybourne, Myriad Among Largest Hedge-Fund Buyers of 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