Billionaires Unloaded These 24 Stocks In Q2

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4. Alibaba (BABA, $291.96)

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Bailie Gifford, a large UK investment management firm with $131 billion in assets upon date of publication, offloaded 20% of its shares in Chinese e-commerce giant Alibaba in Q2. Even so, the firm still owns 40.8 million shares worth approximately $8.8 billion, which makes up about 6.8% of their total assets. Bailie Gifford first started accumulating BABA stock in the third quarter of 2014, and is estimated to have paid an average of $98.55 a share, indicating that the firm was anticipating profits on a long-time investment. BABA however is performing well — with revenue growth of 34%, with profits of $5.6 billion up by 28% year-over-year. It finished Q1 with a free cash flow of $5.2 billion, which was up 39% YoY.