CIK 1569352
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2023-Q2. 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 |
|---|---|---|
| Commercial Services & Supplies | 43.91% | 4 |
| Hotels, Restaurants & Leisure | 36.46% | 2 |
| Software & IT Services | 8.90% | 1 |
| Specialty Retail | 6.33% | 1 |
| Unclassified | 4.40% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | YUMC | Yum China Holdings, Inc. | Consumer Discretionary | 22.98% |
| 2 | TCOM | Trip.Com Group Ltd | Industrials | 15.14% |
| 3 | HTHT | H World Group Ltd | Consumer Discretionary | 13.48% |
| 4 | PDD | PDD Holdings Inc. | Industrials | 11.35% |
| 5 | SE | Sea Ltd | Industrials | 11.21% |
| 6 | BIDU | Baidu, Inc. | Information Technology | 8.90% |
| 7 | MNSO | Miniso Group Holding Ltd | Consumer Discretionary | 6.33% |
| 8 | BABA | Alibaba Group Holding Ltd | Industrials | 6.21% |
| 9 | DADA NEXUS LTD | Unclassified | 4.40% |
8/9 names classified · sector 95.6% of weight · industry 95.6% · mkt cap 23.0%; 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: 95.6% of the book is sector-classified (unclassified names shown, never dropped).
Only 23% of book weight classified — the grid is NOT representative of the whole book.
Classified: 23.0% of book weight (1/9 names) · unclassified 77.0%: TCOM, HTHT, PDD, SE, BIDU, MNSO, BABA, . 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 | YUMCYUM CHINA HLDGS INC | 207,841 | $12M | 23.0% | ADD 10% |
| 2 | TCOMTRIP COM GROUP LTD | 218,170 | $8M | 15.1% | HOLD |
| 3 | HTHTH WORLD GROUP LTD | 172,232 | $7M | 13.5% | ADD 19% |
| 4 | PDDPDD HOLDINGS INC | 58,300 | $6M | 11.3% | NEW |
| 5 | SESEA LTD | 128,565 | $6M | 11.2% | HOLD |
| 6 | BIDUBAIDU INC | 33,388 | $4M | 8.9% | HOLD |
| 7 | MNSOMINISO GROUP HLDG LTD | 123,194 | $3M | 6.3% | TRIM −11% |
| 8 | BABAALIBABA GROUP HLDG LTD | 36,100 | $3M | 6.2% | HOLD |
| 9 | DADA NEXUS LTD | 498,700 | $2M | 4.4% | ADD 43% |
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