T. Rowe Price loves them some Alibaba and you should too!
According to new monthly filings, one of T. Rowe Price’s biggest funds is the largest single holder of Alibaba stock among mutual funds.
The Growth Stock Fund at T. Rowe Price holds nearly 6 million shares of the Chinese e-commerce giant Alibaba (BABA).
This doesn’t mean you should run out and throw your money into this fund or purchase the stock outright as the fund purchased the shares back in September during the IPO when the share price was in the $80s. It does, however, give some weight to the fundamentals of Alibaba and belief that it is a good company.
Among other mutual fund and investment companies that hold Alibaba Stock would be Fidelity. According to a story on the Wall Street Journal, T. Rowe Price and Fidelity combined own around 16 million shares of Alibaba.
Currently not all funds have filed their updated 13-Fs so we don’t have a clear picture of all of the mutual funds and hedge funds that bought large portions of Alibaba. We do know that it was one of the toughest IPOs to get into and that there are many U.S. companies long Alibaba.
Mutual Funds That Hold Alibaba Stock
If you want a specific list of funds that were able to obtain Alibaba, we’ve gathered a list of some of the funds we know were able to get their hands on the shares.
- T. Rowe Price Growth Stock (PRGFX)
- T. Rowe Price Emerging Markets Stock (PRMSX)
- Fidelity Contrafund (FCNTX)
- Fidelity Diversified International (FDIVX)