CIK 1447228
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Capital Markets | 28.83% | 1 |
| Software & IT Services | 14.87% | 3 |
| Specialty Retail | 13.96% | 2 |
| Diversified Consumer Services | 12.99% | 2 |
| Software | 10.02% | 4 |
| Hotels, Restaurants & Leisure | 7.05% | 1 |
| Pharmaceuticals & Biotechnology | 6.47% | 5 |
| Unclassified | 2.55% | 3 |
| Commercial Services & Supplies | 1.90% | 1 |
| Chemicals | 1.07% | 1 |
| Technology Hardware & Equipment | 0.30% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | NOAH | NOAH HOLDINGS LTD | Financials | 28.83% |
| 2 | EDU | New Oriental Education & Technology Group Inc. | Consumer Discretionary | 9.24% |
| 3 | JD | JD.Com, Inc. | Consumer Discretionary | 7.53% |
| 4 | BILI | Bilibili Inc. | Information Technology | 7.24% |
| 5 | HTHT | H World Group Ltd | Consumer Discretionary | 7.05% |
| 6 | RERE | ATRenew Inc. | Consumer Discretionary | 6.43% |
| 7 | HNGE | Hinge Health, Inc. | Information Technology | 4.96% |
| 8 | TAL | TAL Education Group | Consumer Discretionary | 3.74% |
| 9 | BILL | BILL Holdings, Inc. | Information Technology | 3.70% |
| 10 | SVCO | Silvaco Group, Inc. | Information Technology | 3.36% |
21/24 names classified · sector 97.5% of weight · industry 97.5% · mkt cap 18.5%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 97.5% of the book is sector-classified (unclassified names shown, never dropped).
Only 0% of book weight classified — the grid is NOT representative of the whole book.
Classified: 0.0% of book weight (0/24 names) · unclassified 100.0%: NOAH, EDU, JD, BILI, HTHT, RERE, HNGE, TAL, BILL, SVCO +14 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | NOAHNOAH HLDGS LTD | 6,717,351 | $67M | 28.8% | HOLD |
| 2 | EDUNEW ORIENTAL ED & TECHNOLOGY | 376,551 | $21M | 9.2% | ADD 11% |
| 3 | JDJD.COM INC | 587,513 | $17M | 7.5% | TRIM −15% |
| 4 | BILIBILIBILI INC | 739,915 | $17M | 7.2% | TRIM −36% |
| 5 | HTHTH WORLD GROUP LTD | 323,371 | $16M | 7.0% | TRIM −19% |
| 6 | REREATRENEW INC | 3,163,117 | $15M | 6.4% | HOLD |
| 7 | HNGEHINGE HEALTH INC | 296,853 | $11M | 5.0% | NEW |
| 8 | TALTAL EDUCATION GROUP | 759,240 | $9M | 3.7% | ADD 146% |
| 9 | BILLBILL HOLDINGS INC | 222,820 | $9M | 3.7% | NEW |
| 10 | SVCOSILVACO GROUP INC | 1,096,282 | $8M | 3.4% | HOLD |
| 11 | PONYPONY AI INC | 653,215 | $6M | 2.7% | HOLD |
| 12 | KYMRKYMERA THERAPEUTICS INC | 73,440 | $6M | 2.7% | HOLD |
| 13 | JOYYJOYY INC | 85,583 | $5M | 2.2% | NEW |
| 14 | TCOMTRIP COM GROUP LTD | 88,112 | $4M | 1.9% | NEW |
| 15 | YMMFULL TRUCK ALLIANCE CO LTD | 513,248 | $4M | 1.8% | ADD 25% |
| 16 | VRDNVIRIDIAN THERAPEUTICS INC | 208,735 | $4M | 1.8% | HOLD |
| 17 | DBVTDBV TECHNOLOGIES S A | 170,142 | $4M | 1.5% | TRIM −73% |
| 18 | APIAGORA INC | 725,795 | $3M | 1.1% | ADD 36% |
| 19 | YSGYATSEN HLDG LTD | 797,866 | $2M | 1.1% | ADD 117% |
| 20 | ZEPPZEPP HEALTH CORPORATION | 57,731 | $689,885 | 0.3% | NEW |
| 21 | PASGPASSAGE BIO INC | 86,097 | $675,861 | 0.3% | ADD 151% |
| 22 | CLBTCELLEBRITE DI LTD | 46,000 | $633,880 | 0.3% | NEW |
| 23 | BEAMBEAM THERAPEUTICS INC | 21,126 | $503,433 | 0.2% | HOLD |
| 24 | TOURTUNIU CORP | 314,437 | $242,116 | 0.1% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| NOAHNOAH HLDGS LTD | 6.7M | 6.7M | 6.7M | 6.7M | 6.7M | 6.7M | $67M |
| EDUNEW ORIENTAL ED & TECHNOLOGY | 518K | 598K | 598K | 522K | 341K | 377K | $21M |
| JDJD.COM INC | 1.5M | 564K | 787K | 787K | 687K | 588K | $17M |
| BILIBILIBILI INC | 4.9M | 3.1M | 1.9M | 1.4M | 1.1M | 740K | $17M |
| HTHTH WORLD GROUP LTD | 1.3M | 646K | 489K | 457K | 398K | 323K | $16M |
| REREATRENEW INC | 3.2M | 3.2M | 3.2M | 3.2M | 3.2M | 3.2M | $15M |
| HNGEHINGE HEALTH INC | — | — | — | — | — | 297K | $11M |
| TALTAL EDUCATION GROUP | 2.2M | 309K | 309K | 309K | 309K | 759K | $9M |
| BILLBILL HOLDINGS INC | — | — | — | — | — | 223K | $9M |
| SVCOSILVACO GROUP INC | — | 1.0M | 1.1M | 1.1M | 1.1M | 1.1M | $8M |
| PONYPONY AI INC | — | — | — | 200K | 653K | 653K | $6M |
| KYMRKYMERA THERAPEUTICS INC | — | 123K | 123K | 123K | 73K | 73K | $6M |
| JOYYJOYY INC | — | — | — | — | — | 86K | $5M |
| TCOMTRIP COM GROUP LTD | — | — | — | — | — | 88K | $4M |
| YMMFULL TRUCK ALLIANCE CO LTD | — | — | — | — | 411K | 513K | $4M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
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