Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (27 quarters reported)
$156M in Q4 2019 → $979M 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 |
|---|---|---|---|---|
| TS Taiwan Semiconductor Manufac | 24.3% | Added 12% | 498,500 | $238M |
| H World Group Ltd | 17.2% | Added 3.9% | 4,035,321 | $168M |
| Pdd Holdings Inc | 16.9% | Added 0.1% | 2,163,479 | $165M |
| Kanzhun Limited | 15.5% | Added 175% | 11,798,246 | $152M |
| Trip Com Group Ltd | 4.2% | Added 53% | 1,034,085 | $41.2M |
| Micron Technology Inc | 4.1% | Added 283% | 34,417 | $39.7M |
| Sandisk Corp | 3.7% | Added 192% | 16,000 | $36.4M |
| Alphabet Inc | 3.6% | Unchanged | 100,000 | $35.3M |
| YC Yum China Hldgs Inc | 3.5% | Added 17% | 837,114 | $34.2M |
| KH Ke Hldgs Inc | 2.5% | Added 19% | 1,652,669 | $24M |
| Nvidia Corporation | 1.6% | Trimmed 72% | 80,000 | $16M |
| RT Rlx Technology Inc | 1.4% | Trimmed 1.8% | 7,360,737 | $14M |
| NC Netease Com Inc | 0.5% | Trimmed 76% | 40,000 | $5.13M |
| Iqiyi Inc | 0.4% | Trimmed 19% | 3,900,000 | $4.06M |
| YH Yatsen Hldg Ltd | 0.2% | Unchanged | 529,993 | $1.68M |
| Vertiv Holdings Co Put | 0.2% | New | 5,000 | $1.67M |
| Weride Inc | 0.2% | New | 260,000 | $1.51M |
| Visa Inc | 0.0% | New | 1,419 | $487K |
| AG Alibaba Group Hldg Ltd | 0.0% | New | 3,399 | $326K |
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 |
|---|---|---|---|---|
| Kanzhun Limited | Added | +7,510,681 | +$96.7M | 15.5% |
| Nvidia Corporation | Trimmed | −210,000 | −$42M | 1.6% |
| Micron Technology Inc | Added | +25,442 | +$29.4M | 4.1% |
| TS Taiwan Semiconductor Manufac | Added | +51,995 | +$24.8M | 24.3% |
| Sandisk Corp | Added | +10,521 | +$23.9M | 3.7% |
| FH Futu Hldgs Ltd | Exited | −150,000 | −$20.5M | — |
| LH Lumentum Hldgs Inc | Exited | −25,000 | −$17.6M | — |
| NC Netease Com Inc | Trimmed | −130,000 | −$16.7M | 0.5% |
| Trip Com Group Ltd | Added | +359,086 | +$14.3M | 4.2% |
| Xpeng Inc | Exited | −800,000 | −$13.7M | — |
Showing the 10 largest of 23 changes.
quarter ended March 31, 2026 · filed May 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TS Taiwan Semiconductor Manufac | Added | +417,771 | +$141M | 16.6% |
| H World Group Ltd | Trimmed | −1,290,334 | −$64.9M | 21.5% |
| Alphabet Inc | Trimmed | −200,000 | −$57.4M | 3.2% |
| Kanzhun Limited | Added | +4,035,923 | +$54M | 6.3% |
| Nvidia Corporation | New | +290,000 | +$50.6M | 5.6% |
| Trip Com Group Ltd | New | +674,999 | +$33.6M | 3.7% |
| FH Futu Hldgs Ltd | New | +150,000 | +$20.5M | 2.3% |
| Pdd Holdings Inc | Added | +199,584 | +$20.4M | 24.3% |
| LH Lumentum Hldgs Inc | New | +25,000 | +$17.6M | 1.9% |
| Xpeng Inc | New | +800,000 | +$13.7M | 1.5% |
Showing the 10 largest of 21 changes.
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Pdd Holdings Inc | Added | +628,857 | +$71.3M | 32.6% |
| Amer Sports Inc | Exited | −543,404 | −$18.9M | — |
| KH Ke Hldgs Inc | Added | +495,590 | +$7.81M | 2.7% |
| TS Taiwan Semiconductor Mfg Ltd | Added | +25,593 | +$7.78M | 1.3% |
| CG Canada Goose Hldgs Inc | Exited | −220,000 | −$3.03M | — |
| Agora Inc | New | +700,000 | +$2.85M | 0.4% |
| Iqiyi Inc | Added | +1,410,000 | +$2.71M | 1.9% |
| YH Yatsen Hldg Ltd | New | +529,993 | +$2.06M | 0.3% |
| H World Group Ltd | Trimmed | −28,813 | −$1.36M | 35.7% |
| Summit Therapeutics Inc | Exited | −59,745 | −$1.23M | — |
Showing the 10 largest of 13 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Alphabet Inc | Added | +280,000 | +$68.2M | 12.6% |
| Netease Inc | New | +112,000 | +$17M | 2.9% |
| KH Ke Hldgs Inc | New | +659,849 | +$12.5M | 2.2% |
| H World Group Ltd | Added | +258,356 | +$10.1M | 35.0% |
| Iqiyi Inc | Added | +3,500,000 | +$8.96M | 2.4% |
| YC Yum China Hldgs Inc | Trimmed | −168,563 | −$7.23M | 5.3% |
| IT Ishares Tr | New | +59,100 | +$5.28M | 0.9% |
| CG Canada Goose Hldgs Inc | New | +220,000 | +$3.03M | 0.5% |
| Pdd Holdings Inc | Added | +20,572 | +$2.72M | 30.3% |
| Amer Sports Inc | Trimmed | −71,793 | −$2.49M | 3.2% |
Showing the 10 largest of 14 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| KH Ke Hldgs Inc | Exited | −3,977,989 | −$79.9M | — |
| Kanzhun Limited | Trimmed | −2,267,553 | −$40.5M | 1.1% |
| Trip Com Group Ltd | Exited | −529,276 | −$33.7M | — |
| TM Tencent Music Entmt Group | Exited | −1,630,011 | −$23.5M | — |
| Netease Inc | Exited | −206,350 | −$21.2M | — |
| Pdd Holdings Inc | Trimmed | −201,100 | −$21M | 34.6% |
| Amer Sports Inc | Added | +520,453 | +$20.2M | 6.0% |
| Zto Express Cayman Inc | Exited | −903,947 | −$17.9M | — |
| Visa Inc | Exited | −45,000 | −$15.8M | — |
| H World Group Ltd | Trimmed | −463,789 | −$15.7M | 42.2% |
Showing the 10 largest of 22 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| H World Group Ltd | Added | +1,319,142 | +$48.8M | 26.1% |
| Meta Platforms Inc | Trimmed | −60,000 | −$34.6M | 1.1% |
| Kanzhun Limited | Added | +1,598,378 | +$30.6M | 6.3% |
| YC Yum China Hldgs Inc | Trimmed | −434,977 | −$22.6M | 7.5% |
| AL Atour Lifestyle Hldgs Ltd | Exited | −720,376 | −$19.4M | — |
| Pdd Holdings Inc | Trimmed | −132,662 | −$15.7M | 23.4% |
| Alphabet Inc | Trimmed | −100,000 | −$15.6M | 2.0% |
| Netease Inc | Trimmed | −132,506 | −$13.6M | 2.8% |
| KH Ke Hldgs Inc | Trimmed | −648,261 | −$13M | 10.4% |
| TS Taiwan Semiconductor Mfg Ltd | Added | +72,000 | +$12M | 1.8% |
Showing the 10 largest of 21 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Netease Inc | Trimmed | −649,997 | −$58M | 4.1% |
| Alphabet Inc | Added | +160,000 | +$30.5M | 5.1% |
| KH Ke Hldgs Inc | Added | +1,077,937 | +$19.9M | 11.5% |
| Iqiyi Inc | Trimmed | −7,426,290 | −$14.9M | 0.4% |
| Visa Inc | New | +45,000 | +$14.2M | 1.9% |
| Pdd Holdings Inc | Trimmed | −111,481 | −$10.8M | 21.5% |
| Trip Com Group Ltd | Trimmed | −112,913 | −$7.75M | 4.8% |
| AL Atour Lifestyle Hldgs Ltd | Trimmed | −194,437 | −$5.23M | 2.6% |
| H World Group Ltd | Added | +113,718 | +$3.76M | 18.2% |
| YC Yum China Hldgs Inc | Trimmed | −77,667 | −$3.74M | 10.0% |
Showing the 10 largest of 18 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| H World Group Ltd | Added | +950,780 | +$35.4M | 17.0% |
| KH Ke Hldgs Inc | Added | +1,333,759 | +$26.6M | 8.1% |
| Pdd Holdings Inc | Added | +172,800 | +$23.3M | 27.3% |
| TM Tencent Music Entmt Group | Trimmed | −1,755,349 | −$21.2M | 2.5% |
| Microsoft Corp | Trimmed | −45,000 | −$19.4M | 1.0% |
| Netease Inc | Added | +185,910 | +$17.4M | 10.7% |
| Meta Platforms Inc | Trimmed | −30,000 | −$17.2M | 4.6% |
| Zto Express Cayman Inc | Trimmed | −683,234 | −$16.9M | 2.9% |
| Iqiyi Inc | Trimmed | −4,955,512 | −$14.2M | 3.0% |
| Li Auto Inc | New | +529,701 | +$13.6M | 1.6% |
Showing the 10 largest of 20 changes.
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