Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (31 quarters reported)
$2.41B in Q4 2018 → $832M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Legend Biotech Corp | 20.8% | Unchanged | 5,984,550 | $173M |
| FH Futu Hldgs Ltd | 19.9% | Added 25% | 1,768,283 | $166M |
| Arrivent Biopharma Inc | 16.4% | Unchanged | 3,929,117 | $136M |
| Marvell Technology Inc | 5.8% | Trimmed 4.7% | 162,933 | $48.5M |
| VH Vipshop Hldgs Ltd | 5.5% | Added 2683% | 3,470,400 | $46M |
| Pdd Holdings Inc | 4.6% | Trimmed 88% | 500,000 | $38.1M |
| KH Ke Hldgs Inc | 3.9% | Trimmed 48% | 2,218,377 | $32.2M |
| Cytek Biosciences Inc | 3.5% | Unchanged | 6,657,030 | $29.5M |
| Alamar Biosciences Inc | 3.1% | New | 956,462 | $25.9M |
| AG Alibaba Group Hldg Ltd | 2.1% | Trimmed 93% | 183,934 | $17.7M |
| Odyssey Therapeutics Inc | 1.9% | New | 831,656 | $15.6M |
| YH Yatsen Hldg Ltd | 1.9% | Unchanged | 4,885,873 | $15.5M |
| Novabridge Biosciences | 1.4% | Unchanged | 5,980,568 | $11.7M |
| Contineum Therapeutics Inc | 1.3% | Unchanged | 669,337 | $11M |
| Maze Therapeutics Inc | 1.3% | Unchanged | 366,028 | $10.9M |
| Agora Inc | 1.0% | Unchanged | 2,098,553 | $8.37M |
| TS Taiwan Semiconductor Manufac | 0.9% | Trimmed 0.1% | 15,510 | $7.41M |
| Sagimet Biosciences Inc | 0.7% | Unchanged | 724,800 | $5.6M |
| NC Netease Com Inc | 0.5% | New | 34,999 | $4.48M |
| GA Ge Aerospace | 0.5% | Unchanged | 10,043 | $3.75M |
| LH Lumentum Hldgs Inc | 0.3% | Added 120% | 3,300 | $2.83M |
| Nvidia Corporation | 0.3% | Added 113% | 14,054 | $2.81M |
| Tuya Inc | 0.3% | Unchanged | 1,564,400 | $2.75M |
| Corning Inc | 0.3% | Added 33% | 10,266 | $2.62M |
| Coherent Corp | 0.3% | Added 50% | 6,417 | $2.53M |
| Webull Corp | 0.2% | Trimmed 79% | 309,857 | $2.02M |
| Intel Corp | 0.2% | Trimmed 51% | 14,300 | $2M |
| PB Pacific Biosciences Calif In | 0.2% | Unchanged | 918,892 | $1.54M |
| TI Texas Instrs Inc | 0.2% | New | 4,800 | $1.43M |
| Mogu Inc | 0.2% | Unchanged | 847,510 | $1.42M |
| Gossamer Bio Inc | 0.1% | Unchanged | 4,974,041 | $819K |
| Equinox Gold Corp | 0.1% | Unchanged | 80,500 | $782K |
| Zoom Communications Inc | 0.1% | New | 9,010 | $778K |
| Aligos Therapeutics Inc | 0.1% | Unchanged | 76,247 | $440K |
| Ridgetech Inc | 0.0% | New | 136 | $204 |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BM Beone Medicines Ltd | Exited | −1,034,306 | −$307M | — |
| Pdd Holdings Inc | Trimmed | −3,665,029 | −$280M | 4.6% |
| AG Alibaba Group Hldg Ltd | Trimmed | −2,269,723 | −$218M | 2.1% |
| VH Vipshop Hldgs Ltd | Added | +3,345,700 | +$44.4M | 5.5% |
| FH Futu Hldgs Ltd | Added | +348,800 | +$32.7M | 19.9% |
| CA Clearwater Analytics Hldgs I | Exited | −1,365,971 | −$32.3M | — |
| KH Ke Hldgs Inc | Trimmed | −2,017,901 | −$29.3M | 3.9% |
| Alamar Biosciences Inc | New | +956,462 | +$25.9M | 3.1% |
| Odyssey Therapeutics Inc | New | +831,656 | +$15.6M | 1.9% |
| Webull Corp | Trimmed | −1,190,143 | −$7.76M | 0.2% |
Showing the 10 largest of 28 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Pdd Holdings Inc | Trimmed | −6,556,371 | −$670M | 25.4% |
| AG Alibaba Group Hldg Ltd | Trimmed | −2,976,689 | −$373M | 18.4% |
| FH Futu Hldgs Ltd | Trimmed | −210,766 | −$28.8M | 11.6% |
| Webull Corp | Trimmed | −4,474,604 | −$21.5M | 0.4% |
| Marvell Technology Inc | New | +171,033 | +$16.9M | 1.0% |
| Maze Therapeutics Inc | Trimmed | −91,507 | −$2.73M | 0.7% |
| Alphabet Inc | Exited | −7,300 | −$2.28M | — |
| VH Vipshop Hldgs Ltd | New | +124,700 | +$1.96M | 0.1% |
| IB Ishares Bitcoin Trust ETF | Exited | −35,300 | −$1.75M | — |
| M Moodys Corp | Exited | −2,888 | −$1.48M | — |
Showing the 10 largest of 21 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AG Alibaba Group Hldg Ltd | Added | +2,140,680 | +$314M | 25.6% |
| FH Futu Hldgs Ltd | Trimmed | −1,607,930 | −$264M | 8.6% |
| Pdd Holdings Inc | Added | +2,128,800 | +$241M | 39.2% |
| Baidu Inc | Exited | −1,641,000 | −$216M | — |
| Webull Corp | Trimmed | −27,106,242 | −$211M | 1.5% |
| Netease Inc | Exited | −790,807 | −$120M | — |
| Full Truck Alliance Co Ltd | Exited | −4,066,553 | −$52.7M | — |
| Sea Ltd | Exited | −180,050 | −$32.2M | — |
| Arrivent Biopharma Inc | Trimmed | −555,555 | −$11.2M | 2.5% |
| SS Smart Sh Global Ltd | Exited | −3,949,700 | −$5.33M | — |
Showing the 10 largest of 17 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AG Alibaba Group Hldg Ltd | Added | +2,139,966 | +$382M | 14.4% |
| Baidu Inc | New | +1,641,000 | +$216M | 5.3% |
| Pdd Holdings Inc | Added | +1,615,796 | +$214M | 27.8% |
| FH Futu Hldgs Ltd | Trimmed | −1,074,058 | −$187M | 13.8% |
| Netease Inc | Trimmed | −872,861 | −$133M | 2.9% |
| WH Wns Hldgs Ltd | Exited | −1,531,466 | −$96.8M | — |
| Jd.com Inc | Exited | −2,275,500 | −$74.3M | — |
| KH Ke Hldgs Inc | Trimmed | −3,229,187 | −$61.4M | 2.0% |
| Full Truck Alliance Co Ltd | New | +4,066,553 | +$52.7M | 1.3% |
| Sea Ltd | New | +180,050 | +$32.2M | 0.8% |
Showing the 10 largest of 21 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Webull Corp | New | +33,080,846 | +$396M | 12.7% |
| AG Alibaba Group Hldg Ltd | Trimmed | −2,758,055 | −$313M | 4.2% |
| Netease Inc | Trimmed | −1,005,029 | −$135M | 7.2% |
| VH Vipshop Hldgs Ltd | Trimmed | −5,552,113 | −$83.6M | 0.5% |
| Jd.com Inc | Trimmed | −2,536,200 | −$82.8M | 2.4% |
| KH Ke Hldgs Inc | Trimmed | −4,507,937 | −$80M | 4.3% |
| Trip Com Group Ltd | Exited | −938,842 | −$59.7M | — |
| Enfusion Inc | Exited | −4,975,183 | −$55.5M | — |
| Pdd Holdings Inc | Added | +414,228 | +$43.4M | 23.5% |
| CA Clearwater Analytics Hldgs I | New | +1,365,971 | +$30M | 1.0% |
Showing the 10 largest of 28 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| B Beigene Ltd | Trimmed | −2,770,100 | −$754M | 8.0% |
| Pdd Holdings Inc | Added | +3,832,301 | +$454M | 21.9% |
| FH Futu Hldgs Ltd | Added | +3,189,189 | +$326M | 12.5% |
| AG Alibaba Group Hldg Ltd | Trimmed | −979,545 | −$130M | 14.6% |
| VH Vipshop Hldgs Ltd | Trimmed | −8,196,101 | −$129M | 3.0% |
| Jd.com Inc | Added | +3,121,700 | +$128M | 5.6% |
| KP Kiniksa Pharmaceuticals Intl | Exited | −1,582,635 | −$31.3M | — |
| Bridgebio Pharma Inc | Exited | −1,023,950 | −$28.1M | — |
| Baidu Inc | New | +170,000 | +$15.6M | 0.4% |
| Li Auto Inc | New | +620,000 | +$15.6M | 0.4% |
Showing the 10 largest of 36 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AG Alibaba Group Hldg Ltd | Trimmed | −3,940,300 | −$334M | 14.4% |
| B Beigene Ltd | Trimmed | −1,372,500 | −$254M | 24.3% |
| Pdd Holdings Inc | Trimmed | −2,036,505 | −$198M | 9.2% |
| WH Wns Hldgs Ltd | New | +1,531,466 | +$72.6M | 2.5% |
| Trip Com Group Ltd | Trimmed | −860,590 | −$59.1M | 2.2% |
| Zto Express Cayman Inc | Trimmed | −2,567,081 | −$50.2M | 0.3% |
| Baidu Inc | Exited | −300,000 | −$31.6M | — |
| YC Yum China Hldgs Inc | Exited | −665,863 | −$30M | — |
| Legend Biotech Corp | Trimmed | −651,946 | −$21.2M | 6.7% |
| H World Group Ltd | Exited | −568,613 | −$21.2M | — |
Showing the 10 largest of 33 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Pdd Holdings Inc | Trimmed | −4,125,667 | −$556M | 14.1% |
| AG Alibaba Group Hldg Ltd | Added | +3,448,152 | +$366M | 20.6% |
| KH Ke Hldgs Inc | Trimmed | −12,303,642 | −$245M | 4.8% |
| Netease Inc | Added | +1,203,129 | +$113M | 5.3% |
| Zto Express Cayman Inc | Added | +2,966,708 | +$73.5M | 1.6% |
| Jd.com Inc | Added | +1,539,000 | +$61.6M | 1.4% |
| KP Kiniksa Pharmaceuticals Intl | Trimmed | −1,561,921 | −$39M | 0.9% |
| FH Futu Hldgs Ltd | Added | +335,000 | +$32M | 2.2% |
| Baidu Inc | New | +300,000 | +$31.6M | 0.7% |
| YC Yum China Hldgs Inc | New | +665,863 | +$30M | 0.7% |
Showing the 10 largest of 59 changes.
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