Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (35 quarters reported)
$209M in Q2 2013 → $173M now. Hover for any quarter.
As reported for the quarter ended December 31, 2021. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Jd.com Inc | 25.1% | Added 27% | 618,616 | $43.3M |
| KH Ke Hldgs Inc | 17.0% | Added 62% | 1,455,642 | $29.3M |
| Didi Global Inc | 14.4% | New | 5,000,060 | $24.9M |
| Trip Com Group Ltd | 13.8% | Added 151% | 969,200 | $23.9M |
| Bilibili Inc | 12.8% | Added 63% | 477,500 | $22.2M |
| GH Gds Hldgs Ltd | 11.3% | Added 177% | 415,404 | $19.6M |
| Dada Nexus Ltd | 5.5% | Trimmed 28% | 719,379 | $9.47M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended December 31, 2021 · filed February 14, 2022
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Didi Global Inc | New | +5,000,060 | +$24.9M | 14.4% |
| Sea Ltd | Exited | −46,000 | −$14.7M | — |
| Trip Com Group Ltd | Added | +582,830 | +$14.3M | 13.8% |
| GH Gds Hldgs Ltd | Added | +265,504 | +$12.5M | 11.3% |
| KH Ke Hldgs Inc | Added | +558,842 | +$11.2M | 17.0% |
| Jd.com Inc | Added | +132,916 | +$9.31M | 25.1% |
| Bilibili Inc | Added | +184,999 | +$8.58M | 12.8% |
| Dada Nexus Ltd | Trimmed | −276,121 | −$3.63M | 5.5% |
quarter ended September 30, 2021 · filed November 15, 2021
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Sea Ltd | Trimmed | −78,200 | −$24.9M | 11.7% |
| GH Gds Hldgs Ltd | Trimmed | −354,740 | −$20.1M | 6.7% |
| NO New Oriental Ed & Technology | Exited | −1,899,119 | −$15.6M | — |
| Trip Com Group Ltd | New | +386,370 | +$11.9M | 9.4% |
| Jd.com Inc | Trimmed | −145,815 | −$10.5M | 27.9% |
| Dada Nexus Ltd | Trimmed | −168,074 | −$3.37M | 15.9% |
| KH Ke Hldgs Inc | Added | +82,836 | +$1.51M | 13.0% |
| Bilibili Inc | Added | +17,501 | +$1.16M | 15.4% |
| Didi Global Inc | Exited | −15,000 | −$212K | — |
quarter ended June 30, 2021 · filed August 16, 2021
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Bilibili Inc | Trimmed | −187,600 | −$22.9M | 13.6% |
| NO New Oriental Ed & Technology | Trimmed | −2,675,188 | −$21.9M | 6.3% |
| KH Ke Hldgs Inc | Added | +409,464 | +$19.5M | 15.8% |
| GH Gds Hldgs Ltd | Trimmed | −193,960 | −$15.2M | 16.1% |
| Sea Ltd | Trimmed | −31,000 | −$8.51M | 13.9% |
| Jd.com Inc | Trimmed | −91,885 | −$7.33M | 20.5% |
| TM Tencent Music Entmt Group | Exited | −340,000 | −$6.97M | — |
| Baidu Inc | Exited | −27,000 | −$5.87M | — |
| GT Gsx Techedu Inc | Exited | −138,092 | −$4.68M | — |
| P Pinduoduo Inc | Exited | −26,878 | −$3.6M | — |
Showing the 10 largest of 12 changes.
quarter ended March 31, 2021 · filed May 17, 2021
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NO New Oriental Ed & Technology | Added | +4,233,607 | +$59.3M | 18.7% |
| KH Ke Hldgs Inc | New | +404,500 | +$23M | 6.7% |
| GH Gds Hldgs Ltd | Trimmed | −222,833 | −$18.1M | 16.6% |
| Bilibili Inc | Trimmed | −160,900 | −$17.2M | 14.5% |
| TM Tencent Music Entmt Group | New | +340,000 | +$6.97M | 2.0% |
| Jd.com Inc | Trimmed | −70,899 | −$5.98M | 17.8% |
| Baidu Inc | New | +27,000 | +$5.87M | 1.7% |
| Sea Ltd | Added | +22,300 | +$4.98M | 10.1% |
| GT Gsx Techedu Inc | New | +138,092 | +$4.68M | 1.4% |
| P Pinduoduo Inc | Trimmed | −23,122 | −$3.1M | 1.1% |
Showing the 10 largest of 11 changes.
quarter ended December 31, 2020 · filed February 16, 2021
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Bilibili Inc | Added | +279,400 | +$23.9M | 15.3% |
| M Momo Inc | Exited | −1,320,600 | −$18.2M | — |
| AG Alibaba Group Hldg Ltd | Exited | −50,000 | −$14.7M | — |
| GH Gds Hldgs Ltd | Trimmed | −132,467 | −$12.4M | 24.7% |
| NO New Oriental Ed & Technology | Added | +65,000 | +$12.1M | 18.1% |
| P Pinduoduo Inc | New | +50,000 | +$8.88M | 2.5% |
| Jd.com Inc | Added | +91,499 | +$8.04M | 20.0% |
| Dada Nexus Ltd | Added | +176,145 | +$6.43M | 11.7% |
| OF Oneconnect Finl Technology C | Exited | −171,895 | −$3.66M | — |
| Sea Ltd | Trimmed | −17,300 | −$3.44M | 7.6% |
Showing the 10 largest of 12 changes.
quarter ended September 30, 2020 · filed November 16, 2020
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Sea Ltd | Trimmed | −312,000 | −$48.1M | 8.2% |
| NH Noah Hldgs Ltd | Trimmed | −1,075,285 | −$28M | 0.2% |
| Dada Nexus Ltd | New | +946,652 | +$25.1M | 8.8% |
| NO New Oriental Ed & Technology | Trimmed | −131,550 | −$19.7M | 14.5% |
| Jd.com Inc | Added | +225,000 | +$17.5M | 19.2% |
| Trip Com Group Ltd | Exited | −625,400 | −$16.2M | — |
| GH Gds Hldgs Ltd | Added | +103,700 | +$8.49M | 30.4% |
| M Momo Inc | Trimmed | −516,100 | −$7.1M | 6.4% |
| AG Alibaba Group Hldg Ltd | Added | +22,500 | +$6.61M | 5.2% |
| OF Oneconnect Finl Technology C | New | +171,895 | +$3.66M | 1.3% |
Showing the 10 largest of 13 changes.
quarter ended June 30, 2020 · filed August 14, 2020
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Jd.com Inc | New | +477,800 | +$28.8M | 9.4% |
| AG Alibaba Group Hldg Ltd | Trimmed | −121,200 | −$26.1M | 1.9% |
| Msci Inc | Exited | −73,600 | −$21.3M | — |
| M Momo Inc | Added | +960,500 | +$16.8M | 10.5% |
| Bilibili Inc | New | +261,300 | +$12.1M | 4.0% |
| Trip Com Group Ltd | Added | +335,400 | +$8.69M | 5.3% |
| Sea Ltd | Trimmed | −70,100 | −$7.52M | 16.3% |
| NH Noah Hldgs Ltd | Trimmed | −165,205 | −$4.21M | 9.2% |
| GH Gds Hldgs Ltd | Trimmed | −39,400 | −$3.14M | 24.9% |
| Joyy Inc | New | +34,000 | +$3.01M | 1.0% |
Showing the 10 largest of 11 changes.
quarter ended March 31, 2020 · filed May 15, 2020
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Carvana Co | Exited | −338,600 | −$31.2M | — |
| Msci Inc | Trimmed | −92,300 | −$26.7M | 9.2% |
| AG Alibaba Group Hldg Ltd | Trimmed | −133,400 | −$25.9M | 12.5% |
| Canada Goose Holdings Inc | Exited | −672,200 | −$24.4M | — |
| Sea Ltd | Added | +321,900 | +$14.3M | 10.2% |
| GH Gds Hldgs Ltd | Trimmed | −201,700 | −$11.7M | 24.8% |
| Trip Com Group Ltd | Trimmed | −455,800 | −$10.7M | 2.9% |
| NH Noah Hldgs Ltd | Added | +347,237 | +$8.98M | 14.1% |
| M Momo Inc | Trimmed | −374,300 | −$8.12M | 8.2% |
| NO New Oriental Ed & Tech Grp I | Added | +56,800 | +$6.15M | 18.1% |
Showing the 10 largest of 12 changes.
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