Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (47 quarters reported)
$94.6M in Q4 2014 → $663M 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 |
|---|---|---|---|---|
| Grab Holdings Limited | 24.5% | Unchanged | 43,153,792 | $163M |
| Sea Ltd | 24.5% | Unchanged | 1,691,942 | $162M |
| AR Acm Resh Inc | 18.6% | New | 969,200 | $123M |
| Full Truck Alliance Co Ltd | 17.4% | Trimmed 3.0% | 14,210,686 | $115M |
| AL Atour Lifestyle Hldgs Ltd | 15.0% | Trimmed 15% | 3,131,291 | $99.6M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AR Acm Resh Inc | New | +969,200 | +$123M | 18.6% |
| GH Gds Hldgs Ltd | Exited | −1,274,169 | −$51.3M | — |
| Paypay Corp | Exited | −1,200,000 | −$25.6M | — |
| AL Atour Lifestyle Hldgs Ltd | Trimmed | −549,565 | −$17.5M | 15.0% |
| Full Truck Alliance Co Ltd | Trimmed | −439,976 | −$3.57M | 17.4% |
quarter ended March 31, 2026 · filed May 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Kanzhun Limited | Exited | −4,600,645 | −$93.8M | — |
| GH Gds Hldgs Ltd | New | +1,274,169 | +$51.3M | 8.1% |
| ML Makemytrip Limited Mauritius | Exited | −597,600 | −$49.1M | — |
| Paypay Corp | New | +1,200,000 | +$25.6M | 4.1% |
| Grab Holdings Limited | Added | +5,477,800 | +$20M | 25.0% |
| AL Atour Lifestyle Hldgs Ltd | Added | +525,431 | +$19.3M | 21.4% |
| Sea Ltd | Added | +180,700 | +$15M | 22.2% |
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AL Atour Lifestyle Hldgs Ltd | Added | +2,045,832 | +$80.6M | 15.4% |
| Sea Ltd | Added | +419,501 | +$53.5M | 23.9% |
| ML Makemytrip Limited Mauritius | New | +597,600 | +$49.1M | 6.1% |
| H World Group Ltd | Exited | −1,056,294 | −$41.3M | — |
| Full Truck Alliance Co Ltd | Trimmed | −3,778,922 | −$40.5M | 19.5% |
| MG Miniso Group Hldg Ltd | Exited | −1,583,302 | −$35.6M | — |
| Kanzhun Limited | Trimmed | −1,548,355 | −$31.6M | 11.6% |
| Grab Holdings Limited | Added | +4,194,477 | +$20.9M | 23.3% |
| Yuanbao Inc | Exited | −182,500 | −$3.58M | — |
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Sea Ltd | Trimmed | −756,800 | −$135M | 21.6% |
| H World Group Ltd | Trimmed | −1,979,122 | −$77.4M | 4.6% |
| MG Miniso Group Hldg Ltd | New | +1,583,302 | +$35.6M | 4.0% |
| Grab Holdings Limited | Added | +2,293,000 | +$13.8M | 22.4% |
| Full Truck Alliance Co Ltd | Trimmed | −379,600 | −$4.92M | 26.5% |
| AL Atour Lifestyle Hldgs Ltd | Trimmed | −120,300 | −$4.52M | 4.6% |
| Yuanbao Inc | Added | +86,414 | +$1.7M | 0.4% |
quarter ended June 30, 2025 · filed August 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Kanzhun Limited | Trimmed | −2,509,500 | −$44.8M | 11.8% |
| H World Group Ltd | Added | +1,204,300 | +$40.8M | 11.1% |
| AL Atour Lifestyle Hldgs Ltd | Added | +614,600 | +$20M | 4.3% |
| Sea Ltd | Trimmed | −121,500 | −$19.4M | 31.8% |
| Freshworks Inc | Exited | −700,000 | −$9.88M | — |
| Grab Holdings Limited | Added | +781,000 | +$3.93M | 16.9% |
| Yuanbao Inc | New | +96,086 | +$2.02M | 0.2% |
quarter ended March 31, 2025 · filed May 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Freshworks Inc | Trimmed | −6,668,297 | −$94.1M | 1.1% |
| H World Group Ltd | Trimmed | −1,852,200 | −$68.6M | 7.6% |
| Full Truck Alliance Co Ltd | Trimmed | −1,466,000 | −$18.7M | 26.8% |
| AL Atour Lifestyle Hldgs Ltd | New | +615,293 | +$17.4M | 1.9% |
| Kanzhun Limited | Added | +751,200 | +$14.4M | 18.5% |
| Grab Holdings Limited | Added | +2,532,500 | +$11.5M | 15.4% |
| Zto Express Cayman Inc | Exited | −581,300 | −$11.4M | — |
quarter ended December 31, 2024 · filed February 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| H World Group Ltd | Trimmed | −1,473,800 | −$48.7M | 13.2% |
| Freshworks Inc | Trimmed | −2,650,565 | −$42.9M | 12.9% |
| Kanzhun Limited | Added | +1,855,500 | +$25.6M | 11.8% |
| Grab Holdings Limited | Trimmed | −5,025,100 | −$23.7M | 14.3% |
| Zto Express Cayman Inc | New | +581,300 | +$11.4M | 1.2% |
quarter ended September 30, 2024 · filed November 08, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Kanzhun Limited | New | +6,051,800 | +$105M | 11.6% |
| Sea Ltd | Trimmed | −648,000 | −$61.1M | 20.5% |
| Zto Express Cayman Inc | Exited | −2,183,677 | −$45.3M | — |
| H World Group Ltd | Added | +1,045,128 | +$38.9M | 21.2% |
| Full Truck Alliance Co Ltd | Added | +2,679,900 | +$24.1M | 20.2% |
| Grab Holdings Limited | Added | +2,870,500 | +$10.9M | 13.8% |
| Freshworks Inc | Added | +573,565 | +$6.58M | 12.7% |
| KH Ke Hldgs Inc | Exited | −346,440 | −$4.9M | — |
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