CIK 1802695
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 |
|---|---|---|
| Commercial Services & Supplies | 28.00% | 2 |
| Hotels, Restaurants & Leisure | 25.31% | 2 |
| Semiconductors & Semiconductor Equipment | 23.17% | 4 |
| Software & IT Services | 9.47% | 2 |
| Real Estate Management & Development | 2.29% | 1 |
| Capital Markets | 2.26% | 1 |
| Software | 2.09% | 1 |
| Communications Equipment | 1.93% | 1 |
| Tobacco | 1.81% | 1 |
| Automobiles & Components | 1.55% | 2 |
| Chemicals | 1.02% | 2 |
| Media & Entertainment | 0.71% | 1 |
| Technology Hardware & Equipment | 0.38% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | PDD | PDD Holdings Inc. | Industrials | 24.30% |
| 2 | HTHT | H World Group Ltd | Consumer Discretionary | 21.48% |
| 3 | TSM | Taiwan Semiconductor Manufacturing Co Ltd | Information Technology | 16.60% |
| 4 | BZ | Kanzhun Ltd | Information Technology | 6.32% |
| 5 | NVDA | NVIDIA CORP | Information Technology | 5.56% |
| 6 | YUMC | Yum China Holdings, Inc. | Consumer Discretionary | 3.83% |
| 7 | TCOM | Trip.Com Group Ltd | Industrials | 3.70% |
| 8 | GOOG | Alphabet Inc. | Communication Services | 3.16% |
| 9 | BEKE | Ke Holdings Inc. | Real Estate | 2.29% |
| 10 | FUTU | Futu Holdings Ltd | Financials | 2.26% |
21/21 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 16.7%; 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: 100.0% of the book is sector-classified (unclassified names shown, never dropped).
Only 16% of book weight classified — the grid is NOT representative of the whole book.
Classified: 16.3% of book weight (7/21 names) · unclassified 83.7%: PDD, HTHT, TSM, BZ, TCOM, BEKE, FUTU, NTES, RLX, XPEV +4 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 | PDDPDD HOLDINGS INC | 2,161,676 | $221M | 24.3% | ADD 10% |
| 2 | HTHTH WORLD GROUP LTD | 3,882,036 | $195M | 21.5% | TRIM −25% |
| 3 | TSMTAIWAN SEMICONDUCTOR MFG LTD | 446,505 | $151M | 16.6% | ADD 1454% |
| 4 | BZKANZHUN LIMITED | 4,287,565 | $57M | 6.3% | ADD 1604% |
| 5 | NVDANVIDIA CORPORATION | 290,000 | $51M | 5.6% | NEW |
| 6 | YUMCYUM CHINA HLDGS INC | 713,999 | $35M | 3.8% | HOLD |
| 7 | TCOMTRIP COM GROUP LTD | 674,999 | $34M | 3.7% | NEW |
| 8 | GOOGALPHABET INC | 100,000 | $29M | 3.2% | TRIM −67% |
| 9 | BEKEKE HLDGS INC | 1,391,439 | $21M | 2.3% | ADD 20% |
| 10 | FUTUFUTU HLDGS LTD | 150,000 | $21M | 2.3% | NEW |
| 11 | NTESNETEASE COM INC | 170,000 | $19M | 2.1% | ADD 55% |
| 12 | LITELUMENTUM HLDGS INC | 25,000 | $18M | 1.9% | NEW |
| 13 | RLXRLX TECHNOLOGY INC | 7,495,862 | $16M | 1.8% | TRIM −4% |
| 14 | XPEVXPENG INC | 800,000 | $14M | 1.5% | NEW |
| 15 | MOSMOSAIC CO NEW | 300,000 | $8M | 0.8% | NEW |
| 16 | IQIQIYI INC | 4,800,000 | $6M | 0.7% | TRIM −29% |
| 17 | AMDADVANCED MICRO DEVICES INC | 30,000 | $6M | 0.7% | NEW |
| 18 | SNDKSANDISK CORP | 5,479 | $3M | 0.4% | NEW |
| 19 | MUMICRON TECHNOLOGY INC | 8,975 | $3M | 0.3% | NEW |
| 20 | YSGYATSEN HLDG LTD | 529,993 | $2M | 0.2% | HOLD |
| 21 | NIONIO INC | 72,094 | $434,727 | 0.0% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| PDDPDD HOLDINGS INC | 1.6M | 1.5M | 1.3M | 1.3M | 2.0M | 2.2M | $221M |
| HTHTH WORLD GROUP LTD | 4.1M | 5.4M | 4.9M | 5.2M | 5.2M | 3.9M | $195M |
| TSMTAIWAN SEMICONDUCTOR MFG LTD | 10K | 82K | — | 3K | 29K | 447K | $151M |
| BZKANZHUN LIMITED | 921K | 2.5M | 252K | 252K | 252K | 4.3M | $57M |
| NVDANVIDIA CORPORATION | — | — | — | — | — | 290K | $51M |
| YUMCYUM CHINA HLDGS INC | 1.5M | 1.1M | 883K | 714K | 714K | 714K | $35M |
| TCOMTRIP COM GROUP LTD | 517K | 529K | — | — | — | 675K | $34M |
| GOOGALPHABET INC | 200K | 100K | 20K | 300K | 300K | 100K | $29M |
| BEKEKE HLDGS INC | 4.6M | 4.0M | — | 660K | 1.2M | 1.4M | $21M |
| FUTUFUTU HLDGS LTD | — | — | — | — | — | 150K | $21M |
| NTESNETEASE COM INC | 339K | 206K | — | 112K | 110K | 170K | $19M |
| LITELUMENTUM HLDGS INC | — | — | — | — | — | 25K | $18M |
| RLXRLX TECHNOLOGY INC | 11.5M | 8.7M | 6.6M | 7.5M | 7.8M | 7.5M | $16M |
| XPEVXPENG INC | — | — | — | — | — | 800K | $14M |
| MOSMOSAIC CO NEW | — | — | — | — | — | 300K | $8M |
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.
Where this firm's principals came from and which firms its alumni went on to found.
