Ark’s Cathie Wood buys Alibaba for first time in four years, adds to Baidu stake

Star stock picker Cathie Wood, head of Ark Invest, has reopened a position in Alibaba (9988) for the first time in four years, according to the firm’s trading disclosure.

Two of Ark’s exchange-traded funds purchased about US$16.3 million (HK$127.14 million) worth of Alibaba American depositary receipts on Monday.

The company also boosted holdings in Baidu (9888), lifting its combined stake to about US$47 million.

STAFF REPORTER