(Yicai Global) Aug. 13 -- US hedge fund behemoth Bridgewater Associates upgraded its holdings of Chinese tech titan Alibaba Group Holding's shares to sixth slot in its portfolio, according to its quarterly filing to the US Securities and Exchange Commission yesterday.

The Connecticut-based firm increased its holdings of Alibaba's American depositary shares representing eight of its ordinary shares (NYSE:BABA) by 244 percent to USD205 million in the quarter. The institution also increased its holdings of China LG-CAP ETF and MSCI China ETF of ISHARES TR by 717 percent and 486 percent to USD190 million and USD150 million, respectively. Its holdings of two exchange-traded funds also increased in the period, including China LG-CAP ETF and MSCI China ETF of ISHARES TR, which ranked seventh and eighth among its coffers.

Bridgewater had USD138 billion in assets under management as of April, public information shows.

The total market value of US stocks Bridgewater Fund held was USD5.96 billion by the end of the second quarter, up from USD5.04 billion from the first quarter’s end.

The top ten heavyweights include two gold trusts, two ETFs tracking the S&P 500 index, one ETF tracking emerging market indexes, one ETF tracking developed country market indexes, Alibaba, two ETFs tracking China indexes, and one ETF that tracks market indexes in Europe, Asia, Australia, and the Far East.

Editor: Ben Armour