(NYSE: BABA) stock is becoming more popular with billionaire investors. Two well-regarded hedge fund managers greatly increased their stakes in the company during the first quarter.

David Tepper of Appaloosa Management made the Chinese e-commerce giant his top holding after more than doubling his position in Q1. Alibaba now represents about 12% of his portfolio. Tepper is worth an estimated $20 billion, according to Bloomberg.

Michael Burry of Scion Asset Management, meanwhile, increased his stake in Alibaba from 75,000 shares to 125,000 shares, making it his second-largest holding behind its peer, JD.com. Burry is best known for his bet against the U.S. housing market before the subprime mortgage crisis struck in 2007, and is one the subjects of the book and movie, The Big Short.

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Source Fool.com