Di Yi Cai Jing·2025-09-24 00:28Core Viewpoint - Cathie Wood's ARK Investment Management has re-entered a position in Alibaba, purchasing approximately $16.3 million in American Depositary Receipts (ADRs), marking the first investment in Alibaba since 2021 and the first time Wood has held the stock in nearly four years [2]. Group 1: Investment Activity - ARK Investment's ETFs, ARKW and ARKF, bought Alibaba ADRs on September 22, 2023, totaling around $16.3 million [2]. - This marks a significant shift as ARK Investment had not held Alibaba shares since September 2021, indicating a potential change in strategy towards Chinese tech stocks [2]. - The purchase comes amid a broader positive sentiment in the market, with Alibaba's ADR reaching its highest level since November 2021, nearly doubling in price year-to-date [2]. Group 2: Market Context - The re-entry into Alibaba coincides with a general strengthening of Chinese stocks in the U.S. market, particularly since September, as evidenced by the rising Nasdaq Golden Dragon China Index [2]. - Other Chinese tech stocks, such as Baidu, have also seen significant rebounds recently, suggesting a favorable environment for Chinese equities [2]. Group 3: Investment Strategy - ARK Investment is known for its high turnover rate in ETF portfolios, which implies that the recent purchase of Alibaba does not guarantee a long-term holding [3]. - The future of Alibaba ADR's position in ARK's portfolio, including potential expansion and holding duration, remains uncertain and will be observed closely [3].