A Giant Fund Sold Alibaba, Apple, and Intel Stock. Here’s What It Bought.

South Korea’s sovereign-wealth fund made big changes in some of its biggest U.S.-traded stock investments.

Korea Investment Corp. cut investments in Alibaba Group Holding (ticker: BABA), Apple (AAPL), and Intel (INTC) stock in the third quarter. It also more than doubled its holdings of General Motors (GM) stock. KIC, as the fund is known, disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.

KIC…