Distillate Capital Partners LLC, an investment management company, published its Q3 2022 investor letter. In its Q3 2022 investor letter, Distillate Capital mentioned Alibaba Group Holding Limited and talked about its views on the company.

“Alibaba Group Holding Limited, which lagged the benchmark in the quarter, was the largest increased position in the portfolio, up 75 basis points to a 3% weighting. The stock is down about 75% from its peak and offers an attractive return of 7% FCF to EV, as well as a net cash position on the balance sheet.

Our calculations show that Alibaba Group Holding Limited ranks 13th on our list of the top 30 stocks among hedge funds. Alibaba Group Holding Limited was in the portfolios of 106 hedge funds at the end of the second quarter of 2022, up from 100 funds in the previous quarter. Alibaba Group Holding Limited had a return of -25.29% over the past 3 months.”