Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (23 quarters reported)
$364M in Q4 2020 → $400M 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 |
|---|---|---|---|---|
| AL Atour Lifestyle Hldgs Ltd | 61.3% | Trimmed 4.9% | 7,714,695 | $245M |
| Full Truck Alliance Co Ltd | 21.8% | Trimmed 22% | 10,716,590 | $87M |
| RT Rlx Technology Inc | 6.3% | Added 1.0% | 13,322,760 | $25.3M |
| Huya Inc | 5.2% | Trimmed 0.8% | 9,064,639 | $20.8M |
| PS Power Solutions Intl Inc | 2.8% | New | 283,940 | $11M |
| BH Bitwise Hyperliquid ETF | 2.6% | New | 285,363 | $10.5M |
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 |
|---|---|---|---|---|
| Full Truck Alliance Co Ltd | Trimmed | −3,051,179 | −$24.8M | 21.8% |
| AL Atour Lifestyle Hldgs Ltd | Trimmed | −394,342 | −$12.5M | 61.3% |
| PS Power Solutions Intl Inc | New | +283,940 | +$11M | 2.8% |
| BH Bitwise Hyperliquid ETF | New | +285,363 | +$10.5M | 2.6% |
| RT Rlx Technology Inc | Added | +135,045 | +$257K | 6.3% |
| Huya Inc | Trimmed | −76,470 | −$176K | 5.2% |
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Huya Inc | New | +9,141,109 | +$30.2M | 6.4% |
| RT Rlx Technology Inc | New | +13,187,715 | +$29M | 6.1% |
| AL Atour Lifestyle Hldgs Ltd | Trimmed | −547,457 | −$20.2M | 63.2% |
| Joyy Inc | Exited | −170,866 | −$11.1M | — |
| Full Truck Alliance Co Ltd | Trimmed | −1,240,082 | −$10.3M | 24.2% |
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Qfin Holdings Inc | Exited | −5,010,933 | −$144M | — |
| Full Truck Alliance Co Ltd | Added | +9,983,779 | +$107M | 31.4% |
| Joyy Inc | Trimmed | −410,288 | −$26.6M | 2.2% |
| AL Atour Lifestyle Hldgs Ltd | Added | +131,886 | +$5.2M | 66.5% |
| Yalla Group Ltd | Exited | −382,976 | −$2.88M | — |
quarter ended September 30, 2025 · filed November 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Full Truck Alliance Co Ltd | Trimmed | −11,734,694 | −$152M | 11.5% |
| Qfin Holdings Inc | Trimmed | −1,569,659 | −$45.2M | 25.4% |
| AL Atour Lifestyle Hldgs Ltd | Added | +509,267 | +$19.1M | 56.5% |
| Yalla Group Ltd | New | +382,976 | +$2.88M | 0.5% |
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Joyy Inc | Trimmed | −950,811 | −$48.4M | 3.8% |
| AL Atour Lifestyle Hldgs Ltd | Added | +599,135 | +$19.5M | 33.7% |
| Full Truck Alliance Co Ltd | Added | +1,053,422 | +$12.4M | 25.6% |
| QT Qifu Technology Inc | Added | +5,472 | +$237K | 36.9% |
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| NO New Oriental Ed & Technology | Exited | −923,306 | −$59.3M | — |
| QT Qifu Technology Inc | Trimmed | −1,001,903 | −$45M | 38.3% |
| TM Tencent Music Entmt Group | Exited | −1,595,852 | −$18.1M | — |
| Joyy Inc | Added | +149,879 | +$6.29M | 8.3% |
| AL Atour Lifestyle Hldgs Ltd | Added | +213,811 | +$6.06M | 27.3% |
| DM D Market Electr Svcs & Tradi | Exited | −231,679 | −$702K | — |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Joyy Inc | New | +1,382,086 | +$57.8M | 7.3% |
| TM Tencent Music Entmt Group | Trimmed | −3,153,691 | −$35.8M | 2.3% |
| AL Atour Lifestyle Hldgs Ltd | Added | +1,052,822 | +$28.3M | 24.5% |
| Netease Inc | Exited | −283,797 | −$26.5M | — |
| NO New Oriental Ed & Technology | Added | +206,073 | +$13.2M | 7.5% |
| Full Truck Alliance Co Ltd | Trimmed | −427,215 | −$4.62M | 21.5% |
| DM D Market Electr Svcs & Tradi | New | +231,679 | +$702K | 0.1% |
| QT Qifu Technology Inc | Trimmed | −14,745 | −$566K | 36.8% |
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Pdd Holdings Inc | Exited | −2,393,265 | −$318M | — |
| AL Atour Lifestyle Hldgs Ltd | Added | +3,417,469 | +$88.6M | 23.8% |
| Full Truck Alliance Co Ltd | Added | +8,265,808 | +$74.5M | 21.7% |
| Netease Inc | Trimmed | −711,606 | −$66.5M | 4.0% |
| TM Tencent Music Entmt Group | New | +4,749,543 | +$57.2M | 8.6% |
| NO New Oriental Ed & Technology | New | +717,233 | +$54.4M | 8.1% |
| QT Qifu Technology Inc | Added | +435,511 | +$13M | 33.8% |
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