This article first appeared on GuruFocus .
Alibaba Group ( NYSE:BABA ) was among the names O'Keefe Stevens Advisory walked away from in Q1, as the fund made a noticeable shift in how it's positioning its portfolio.
The firm exited its stakes in Alibaba, BMW, Mercedes-Benz, and Tri Pointe Homes, with the latter tied to a pending sale. It also trimmed its position in Corning, suggesting it was dialing back exposure in a few areas. At the same time, it started fresh positions in Baxter International and Weyerhaeuser, and added to its stake in Perrigo.
Taken together, it looks like a bit of a reset. Moving away from names like Alibaba and autos, and leaning more into healthcare and real assets, could point to a more defensive stance or simply a shift toward steadier, cash-generating businesses.
