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Norway-based Skagen Fund Reduces Stake in Alibaba Group, Takes Position in JD.com
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The US$2 billion Kon-Tiki emerging markets fund, managed by Norway-based Skagen AS, previously had an ideal performance by betting on Samsung Electronics and Alibaba Group Holding (BABA.US). However, over the past year, the fund has steadily reduced its stake in Alibaba Group while increasing its stake in Samsung, with an aim to comprehensively position the fund in companies directly driving AI development, while reducing exposure to application firms whose business models remain unproven. In contrast, the fund has continued to increase its shareholding in Samsung over the past year, as it believed that the demand for memory chips will remain strong over the next two years and that Samsung's valuation has larger upside room compared with competitors SK Hynix and Micron Technology (MU.US). Moreover, the fund also took position in JD.com (JD.US) in November 2025, considering that the company's stock price plummeted by 17% last year, and its valuation is now lower than the combined value of its cash, investments and listed subsidiaries, making it too undemanding. AASTOCKS Financial News Website: www.aastocks.com |
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