FountainCap Research & Investment Hong Kong Co. Ltd. bought a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,697 shares of the specialty retailer’s stock, valued at approximately $3,560,000. Alibaba Group accounts for approximately 10.5% of FountainCap Research & Investment Hong Kong Co. Ltd.’s holdings, making the stock its 2nd largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Logan Capital Management Inc. acquired a new position in Alibaba Group in the first quarter worth about $29,000. Sageworth Trust Co acquired a new position in Alibaba Group in the first quarter worth about $43,000. Burleson & Company LLC acquired a new position in Alibaba Group in the first quarter worth about $45,000. Cowen Prime Advisors LLC acquired a new position in Alibaba Group in the second quarter worth about $45,000. Finally, Financial Management Professionals Inc. raised its position in Alibaba Group by 314.6% in the second quarter. Financial Management Professionals Inc. now owns 199 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 151 shares in the last quarter. Institutional investors and hedge funds own 24.48% of the company’s stock.