Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$448M in Q2 2013 → $29.9M 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 |
|---|---|---|---|---|
| H World Group Ltd | 85.4% | Trimmed 10% | 610,924 | $25.5M |
| Kt Corp | 14.6% | Unchanged | 252,500 | $4.36M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| H World Group Ltd | Trimmed | −71,300 | −$2.97M | 85.4% |
quarter ended March 31, 2026 · filed May 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| H World Group Ltd | Added | +126,500 | +$6.36M | 86.4% |
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| H World Group Ltd | Trimmed | −43,600 | −$2.05M | 84.5% |
| BS Bright Scholar Ed Hldgs Ltd | Exited | −670,589 | −$1.31M | — |
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Hdfc Bank Ltd | Exited | −743,077 | −$57M | — |
| Kt Corp | Added | +108,600 | +$2.12M | 16.6% |
| H World Group Ltd | Added | +47,500 | +$1.86M | 79.0% |
quarter ended June 30, 2025 · filed August 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| GH Gds Hldgs Ltd | Exited | −1,342,258 | −$34M | — |
| Hdfc Bank Ltd | Trimmed | −91,600 | −$7.02M | 71.3% |
| H World Group Ltd | Added | +168,624 | +$5.72M | 23.4% |
| Kt Corp | New | +143,900 | +$2.99M | 3.7% |
| Pdd Holdings Inc | Exited | −9,700 | −$1.15M | — |
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| KH Ke Hldgs Inc | Exited | −2,028,691 | −$37.4M | — |
| H World Group Ltd | New | +383,200 | +$14.2M | 13.4% |
| GH Gds Hldgs Ltd | Trimmed | −403,300 | −$10.2M | 32.1% |
| Hdfc Bank Ltd | Trimmed | −75,900 | −$5.04M | 52.4% |
| BS Bright Scholar Ed Hldgs Ltd | Trimmed | −136 | −$227 | 1.1% |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Hdfc Bank Ltd | Trimmed | −347,846 | −$22.2M | 41.8% |
| GH Gds Hldgs Ltd | Added | +487,800 | +$11.6M | 29.8% |
| CT Cognizant Technology Solutio | Exited | −24,415 | −$1.88M | — |
| KH Ke Hldgs Inc | Trimmed | −65,700 | −$1.21M | 26.9% |
| Pdd Holdings Inc | New | +9,700 | +$941K | 0.7% |
| BS Bright Scholar Ed Hldgs Ltd | Trimmed | −38,080 | −$65.5K | 0.8% |
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Full Truck Alliance Co Ltd | Exited | −5,700,988 | −$45.8M | — |
| GH Gds Hldgs Ltd | New | +1,257,758 | +$25.7M | 17.2% |
| Hdfc Bank Ltd | Trimmed | −54,335 | −$3.4M | 52.7% |
| KH Ke Hldgs Inc | Trimmed | −9,200 | −$183K | 27.9% |
| BS Bright Scholar Ed Hldgs Ltd | Trimmed | −69,258 | −$141K | 1.0% |
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