3G Capital top Q1 moves include exiting Alibaba, taking stakes in Li Auto, Coupang
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Dimitrios Kambouris
3G Capital Partners, the investment firm co-founded by Brazilian billionaire Alexandre Behring, exited its stake in Alibaba (NYSE:BABA) and picked up positions in Li Auto (NASDAQ:LI) and Coupang (NYSE:CPNG) in Q1 2024, among other changes.
3G Capital disclosed the information in its latest 13F filing for the three months ended March 31, 2024, published on Wednesday.
The fund in Q1 disposed off the 125K American depositary shares it had held in Chinese e-commerce major Alibaba (BABA). It also cashed out of its positions in Bill (BILL), a financial operations platform for small and midsize businesses, and Remitly Global (RELY), an online remittance service.
3G Capital in Q1 picked up 470K American depositary shares in Chinese electric vehicle maker Li Auto (LI) and 725K class A shares in South Korean e-commerce giant Coupang (CPNG).
The fund also opened new stakes in the following: 100K series A shares in data and marketing automation platform Klaviyo (KVYO); 115K shares in semiconductor equipment manufacturer Applied Materials (AMAT); and 325K class A shares in mobile app company AppLovin (APP).
In other moves, 3G Capital nearly tripled its investment in Pinduoduo-parent and Temu operator PDD (PDD) to 295K American depositary shares. It also raised its stakes in independent insurance agency Goosehead Insurance (GSHD) by 50% to 375K class A shares, and in semiconductor firm Analog Devices (ADI) by 9.7% to 170K shares.
The fund kept its stakes in Facebook-parent Meta Platforms (META) and in retail and tech behemoth Amazon.com (AMZN) unchanged.
According to Forbes, Alexandre Behring’s real time net worth is $6.3B.
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