University of California Increased Alibaba, Pinduoduo Stock Investments

 University of California Increased Alibaba, Pinduoduo Stock Investments

A giant American university system greatly increased investments in two Chinese companies, and made other significant changes in its holdings.

The Regents of the University of California disclosed that its UC Investments unit boosted its holdings of the American depositary receipts of Chinese internet giant Alibaba Group Holding (ticker: BABA), and nearly tripled the investment in e-commerce firm Pinduoduo (PDD) ADRs in the third quarter. UC Investments also took a position in food-delivery service DoorDash (DASH), and halved…

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