Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (22 quarters reported)
$416M in Q4 2019 → $576M now. Hover for any quarter.
As reported for the quarter ended March 31, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Full Truck Alliance Co Ltd | 17.1% | Added 23% | 7,735,913 | $98.8M |
| Pdd Holdings Inc | 13.2% | Added 29% | 610,585 | $76.1M |
| IB Ishares Bitcoin Trust ETF | 12.1% | Unchanged | 1,483,578 | $69.4M |
| Tesla Inc | 8.2% | Added 43% | 183,110 | $47.5M |
| KH Ke Hldgs Inc | 7.2% | Added 246% | 2,055,195 | $41.3M |
| Tal Education Group | 5.7% | Added 18% | 2,491,129 | $32.9M |
| AG Alibaba Group Hldg Ltd | 4.9% | New | 213,115 | $28.2M |
| Canadian Solar Inc | 3.4% | New | 20,000,000 | $19.5M |
| SG SPDR Gold Tr | 2.6% | New | 51,590 | $14.9M |
| Zto Express Cayman Inc | 2.1% | Trimmed 17% | 11,830,000 | $11.9M |
| Icici Bank Limited | 2.0% | Added 99% | 357,350 | $11.3M |
| Hdfc Bank Ltd | 1.9% | Added 38% | 168,667 | $11.2M |
| H World Group Ltd | 1.9% | Unchanged | 10,000,000 | $11.2M |
| Pdd Holdings Inc | 1.6% | Unchanged | 9,500,000 | $9.45M |
| Weibo Corp | 1.6% | New | 8,400,000 | $9.24M |
| Vnet Group Inc | 1.0% | New | 724,348 | $5.94M |
| LH Lumentum Hldgs Inc | 0.9% | New | 5,750,000 | $5.29M |
| DR Dr Reddys Labs Ltd | 0.9% | Trimmed 20% | 380,625 | $5.02M |
| Docusign Inc | 0.8% | Added 54% | 56,985 | $4.64M |
| Coinbase Global Inc | 0.8% | New | 5,000,000 | $4.62M |
| Coinbase Global Inc | 0.8% | New | 4,500,000 | $4.4M |
| TS Taiwan Semiconductor Mfg Ltd | 0.7% | Trimmed 98% | 1,647 | $4.26M |
| Li Auto Inc | 0.6% | Trimmed 25% | 98,418 | $3.57M |
| CY China Yuchai Intl Ltd | 0.6% | New | 199,056 | $3.38M |
| Boston Scientific Corp | 0.6% | Trimmed 44% | 33,170 | $3.35M |
| Amer Sports Inc | 0.5% | Trimmed 75% | 114,940 | $3.07M |
| Apple Inc | 0.5% | Trimmed 12% | 13,500 | $3M |
| AR Acm Resh Inc | 0.5% | Added 14% | 122,428 | $2.86M |
| Sandisk Corp | 0.5% | New | 55,175 | $2.63M |
| Teradyne Inc | 0.4% | Trimmed 27% | 27,330 | $2.26M |
| Totalenergies Se | 0.3% | Unchanged | 30,885 | $2M |
| Vertex Pharmaceuticals Inc | 0.3% | Trimmed 53% | 3,532 | $1.71M |
| Meta Platforms Inc | 0.3% | New | 2,733 | $1.58M |
| Analog Devices Inc | 0.3% | New | 7,200 | $1.45M |
| Hesai Group | 0.3% | Added 22312% | 97,493 | $1.44M |
| Intel Corp | 0.2% | New | 58,740 | $1.39M |
| Lam Research Corp | 0.2% | New | 18,084 | $1.31M |
| AL Atour Lifestyle Hldgs Ltd | 0.2% | New | 30,280 | $1.28M |
| Celestica Inc | 0.2% | Added 4482% | 15,946 | $1.26M |
| FH Futu Hldgs Ltd | 0.2% | Trimmed 93% | 11,133 | $1.14M |
| NA Novo-nordisk A S | 0.2% | Trimmed 71% | 2,692 | $1.1M |
| Kt Corp | 0.2% | Unchanged | 51,420 | $911K |
| Gaotu Techedu Inc | 0.2% | New | 274,310 | $892K |
| GN Gamestop Corp New | 0.1% | Unchanged | 31,754 | $709K |
| Sigma Lithium Corporation | 0.1% | Added 0.0% | 66,029 | $687K |
| Ero Copper Corp | 0.1% | Trimmed 30% | 52,004 | $630K |
| NH Noah Hldgs Ltd | 0.1% | Trimmed 79% | 63,929 | $604K |
| Viking Holdings Ltd | 0.1% | New | 14,993 | $596K |
| CN Cleveland-cliffs Inc New | 0.1% | Added 2553% | 69,483 | $571K |
| Southern Copper Corp | 0.1% | New | 6,032 | $564K |
| Capri Holdings Limited | 0.1% | New | 26,881 | $530K |
| MR Melco Resorts And Entmnt Ltd | 0.1% | Added 6.4% | 95,758 | $505K |
| Freeport-mcmoran Inc | 0.1% | Added 356% | 12,846 | $486K |
| Birkenstock Holding PLC | 0.1% | New | 6,589 | $302K |
| Gap Inc | 0.1% | New | 14,478 | $298K |
| Sharkninja Inc | 0.0% | Trimmed 80% | 3,413 | $285K |
| SH Super Hi Intl Hldg Ltd | 0.0% | Unchanged | 8,030 | $186K |
| Rlx Technology Inc | 0.0% | Trimmed 72% | 49,850 | $93.7K |
| Instil Bio Inc | 0.0% | New | 5,094 | $88.4K |
| Hello Group Inc | 0.0% | Unchanged | 80,000 | $81.1K |
Showing top 60 of 88 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended March 31, 2025 · filed May 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TS Taiwan Semiconductor Mfg Ltd | Trimmed | −97,970 | −$253M | 0.7% |
| NO New Oriental Ed & Technology | Exited | −559,969 | −$43M | — |
| Trip Com Group Ltd | Exited | −292,919 | −$33.2M | — |
| Nvidia Corporation | Exited | −223,547 | −$31.1M | — |
| KH Ke Hldgs Inc | Added | +1,461,306 | +$29.4M | 7.2% |
| AG Alibaba Group Hldg Ltd | New | +213,115 | +$28.2M | 4.9% |
| Canadian Solar Inc | New | +20,000,000 | +$19.5M | 3.4% |
| Full Truck Alliance Co Ltd | Added | +1,448,760 | +$18.5M | 17.1% |
| Pdd Holdings Inc | Added | +137,027 | +$17.1M | 13.2% |
| SG SPDR Gold Tr | New | +51,590 | +$14.9M | 2.6% |
Showing the 10 largest of 110 changes.
quarter ended December 31, 2024 · filed February 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Pdd Holdings Inc | Trimmed | −441,239 | −$44.6M | 8.5% |
| Trip Com Group Ltd | New | +292,919 | +$33.2M | 5.9% |
| Full Truck Alliance Co Ltd | Added | +2,374,659 | +$25.7M | 12.1% |
| Tal Education Group | Added | +2,007,244 | +$20.1M | 3.7% |
| Nvidia Corporation | Added | +113,204 | +$15.7M | 5.5% |
| NO New Oriental Ed & Technology | Added | +194,108 | +$14.9M | 7.6% |
| Zto Express Cayman Inc | New | +14,330,000 | +$14.2M | 2.5% |
| TS Taiwan Semiconductor Mfg Ltd | Added | +70,389 | +$13.9M | 3.5% |
| Tesla Inc | Trimmed | −33,535 | −$13.5M | 9.2% |
| ML Makemytrip Limited Mauritius | Exited | −122,142 | −$11.4M | — |
Showing the 10 largest of 118 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nvidia Corporation | Trimmed | −302,787 | −$36.8M | 2.9% |
| Full Truck Alliance Co Ltd | Trimmed | −3,936,562 | −$35.5M | 7.6% |
| Bilibili Inc | Exited | −33,048,000 | −$32.1M | — |
| Trip Com Group Ltd | Exited | −464,561 | −$27.8M | — |
| Microsoft Corp | Trimmed | −51,068 | −$22M | 2.7% |
| NO New Oriental Ed & Technology | Trimmed | −245,128 | −$20.7M | 6.6% |
| ML Makemytrip Limited Mauritius | Exited | −224,311 | −$18.9M | — |
| Pdd Holdings Inc | Exited | −18,500,000 | −$18.2M | — |
| H World Group Ltd | Exited | −17,000,000 | −$18.1M | — |
| Jd.com Inc | New | +333,312 | +$17.3M | 3.7% |
Showing the 10 largest of 136 changes.
quarter ended June 30, 2024 · filed August 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nvidia Corporation | Added | +380,945 | +$47.1M | 7.2% |
| Zto Express Cayman Inc | Exited | −28,330,000 | −$27.7M | — |
| ML Makemytrip Limited Mauritius | New | +224,311 | +$18.9M | 2.7% |
| NO New Oriental Ed & Technology | Added | +188,512 | +$15.6M | 7.1% |
| ML Makemytrip Limited Mauritius | Exited | −211,796 | −$15M | — |
| Full Truck Alliance Co Ltd | Trimmed | −1,836,734 | −$14.8M | 8.9% |
| Pdd Holdings Inc | Added | +14,500,000 | +$14.3M | 2.6% |
| Bilibili Inc | Exited | −13,800,000 | −$13.8M | — |
| H World Group Ltd | Added | +10,000,000 | +$10.6M | 2.5% |
| Frontline PLC | Exited | −446,718 | −$10.4M | — |
Showing the 10 largest of 129 changes.
quarter ended March 31, 2024 · filed May 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IB Ishares Bitcoin Tr | New | +1,483,578 | +$60M | 9.6% |
| Nio Inc | Exited | −38,669,000 | −$38.3M | — |
| AL Atour Lifestyle Hldgs Ltd | Trimmed | −303,048 | −$29.8M | 0.6% |
| Nvidia Corporation | Added | +31,966 | +$28.9M | 4.7% |
| Zto Express Cayman Inc | New | +28,330,000 | +$27.7M | 4.4% |
| Netease Inc | Trimmed | −150,127 | −$15.5M | 0.1% |
| ML Makemytrip Limited Mauritius | New | +211,796 | +$15M | 2.4% |
| VH Vipshop Hldgs Ltd | Trimmed | −862,151 | −$14.3M | 0.9% |
| Full Truck Alliance Co Ltd | Added | +1,806,868 | +$13.2M | 11.3% |
| Trip Com Group Ltd | Added | +298,939 | +$13.1M | 2.6% |
Showing the 10 largest of 117 changes.
quarter ended December 31, 2023 · filed February 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Pdd Holdings Inc | Added | +299,801 | +$44.2M | 21.9% |
| Pdd Holdings Inc | Trimmed | −32,519,000 | −$33.7M | 0.9% |
| AG Alibaba Group Hldg Ltd | Exited | −274,527 | −$23.8M | — |
| NO New Oriental Ed & Technology | Added | +247,603 | +$19.7M | 8.5% |
| Microsoft Corp | Trimmed | −49,859 | −$18.7M | 4.1% |
| Tesla Inc | Trimmed | −72,400 | −$18.4M | 5.4% |
| On Semiconductor Corp | Trimmed | −182,736 | −$15.3M | 0.1% |
| Netease Inc | New | +154,029 | +$14.3M | 3.2% |
| VH Vipshop Hldgs Ltd | Trimmed | −553,578 | −$12.7M | 6.1% |
| Bilibili Inc | Added | +13,200,000 | +$12.2M | 6.2% |
Showing the 10 largest of 76 changes.
quarter ended September 30, 2023 · filed November 14, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Tesla Inc | New | +169,100 | +$43M | 10.1% |
| Full Truck Alliance Co Ltd | Added | +4,616,058 | +$32.5M | 12.2% |
| Microsoft Corp | New | +99,700 | +$31.5M | 7.4% |
| VH Vipshop Hldgs Ltd | Added | +1,750,166 | +$28M | 6.6% |
| Hello Group Inc | Trimmed | −27,117,000 | −$27M | — |
| On Semiconductor Corp | New | +186,850 | +$17.4M | 4.1% |
| Coherent Corp | Trimmed | −503,875 | −$16.4M | — |
| KH Ke Hldgs Inc | New | +915,448 | +$14.8M | 3.5% |
| AG Alibaba Group Hldg Ltd | Added | +131,957 | +$11.4M | 5.6% |
| Pdd Holdings Inc | Added | +92,584 | +$9.08M | 8.6% |
Showing the 10 largest of 71 changes.
quarter ended June 30, 2023 · filed August 14, 2023
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Bilibili Inc | Exited | −37,700,000 | −$38.1M | — |
| Joyy Inc | Exited | −28,534,000 | −$28M | — |
| Zto Express Cayman Inc | New | +320,681 | +$23.1M | 12.9% |
| On Semiconductor Corp | Exited | −214,650 | −$17.7M | — |
| GH Gds Hldgs Ltd | Exited | −16,971,000 | −$16.8M | — |
| Nio Inc | Added | +13,450,000 | +$12.9M | 20.7% |
| Microsoft Corp | Exited | −43,600 | −$12.6M | — |
| AG Alibaba Group Hldg Ltd | Added | +134,870 | +$12.6M | 7.4% |
| KH Ke Hldgs Inc | Exited | −722,724 | −$7.83M | — |
| Tesla Inc | Exited | −30,300 | −$7.66M | — |
Showing the 10 largest of 88 changes.
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