On Friday evening Beijing time, Greenwoods Asset Management, a private equity giant managing over 100 billion yuan, submitted its U.S. stock holdings report (Form 13F) to the SEC, revealing its portfolio as of the end of the second quarter. This report showcases the allocation strategy of this top Chinese private equity firm as of the end of the first half of the year.
According to Greenwoods' latest disclosure, the firm significantly increased its holdings in$PDD Holdings (PDD.US)$,$Taiwan Semiconductor (TSM.US)$Additionally, it established a new position in $Apple (AAPL.US)$ it reduced its holdings of $Meta Platforms (META.US)$And$NVIDIA (NVDA.US)$.
Cailian Press, August 10th — On Friday local time, Greenwoods Asset Management, a private equity giant managing over 100 billion yuan, submitted its U.S. stock holdings report (Form 13F) to the SEC, revealing its portfolio as of the end of the second quarter. This report showcases the allocation strategy of this top Chinese private equity firm as of the end of the first half of the year.
According to Greenwoods' latest disclosure, the firm's overall holdings increased from $3.23 billion in the previous quarter to $3.79 billion at the end of the second quarter, marking a quarter-over-quarter rise of 17.3%. The top ten holdings accounted for approximately 87.45% of the total portfolio.
In terms of specific adjustments, Greenwoods increased its holdings in 12 companies, established new positions in 8 companies, reduced its holdings in 11 companies, and completely exited positions in 6 companies during the second quarter.
Significantly increased holdings of PDD and Taiwan Semiconductor.
Let's take a look at the list of increased holdings. In the second quarter of this year, the top two stocks that Greenwoods Asset Management significantly increased their positions in were $Taiwan Semiconductor (TSM.US)$ and $PDD Holdings (PDD.US)$ . Additionally, among the top five increased holdings, Chinese concept stocks $Full Truck Alliance (YMM.US)$ and $NetEase (NTES.US)$ also made the list.
During the second quarter, Greenwoods purchased over 1.16 million shares of TSMC, bringing its total holdings in the company to nearly 2.72 million shares by the end of the quarter, reflecting an approximate 75% increase. TSMC now accounts for 12.45% of Greenwoods' investment portfolio. Notably, this marks the second consecutive quarter that Greenwoods has increased its holdings in TSMC since it first established a position in the company in the fourth quarter of last year, indicating strong confidence in the future prospects of this global chip manufacturing giant.
Additionally, in the second quarter, Greenwoods reversed its previous trend of reducing its stake in Pinduoduo (PDD) by purchasing over 1.57 million shares. As a result, PDD has reclaimed its position as Greenwoods' top holding, surpassing Meta, which had briefly held the top spot in the first quarter.
New position in Apple.
Among the newly established positions by Greenwoods Asset Management in the second quarter, the most notable is undoubtedly $Apple (AAPL.US)$ . This move is particularly striking because it coincides with the period when the "Oracle of Omaha" Warren Buffett was halving his holdings in Apple.
The report indicates that Greenwoods bought a total of 165,600 shares of Apple in the second quarter, with a market value of approximately $34.88 million. Despite being the fifth largest purchase by Greenwoods in that quarter, their holdings in Apple have not yet entered the top ten holdings in their investment portfolio, currently standing at the 13th position.
Reduced its holdings of Meta and Nvidia.
In the second quarter, the top three stocks that Greenwoods Asset Management significantly reduced their holdings in were$Meta Platforms (META.US)$, $DoorDash (DASH.US)$and $NVIDIA (NVDA.US)$.
In the second quarter, Greenwoods Asset Management sold 102,000 shares of Meta Platforms, Inc. (META), with a market value of approximately $51.6 million. This sale resulted in META dropping from Greenwoods' top holding to the second largest holding in their portfolio.
Regarding NVIDIA (NVDA), Greenwoods reduced its holdings by 774,000 shares, bringing the total number of shares held down to approximately 1.09 million shares. This indicates a significant reduction in their position in NVIDIA during the second quarter.
List of Top Ten Heavyweight Stocks
After the operations in the second quarter, although the top ten holdings of Greenwoods Asset Management at the end of the quarter remained familiar names, their rankings underwent noticeable changes.
PDD has reclaimed its position as the top holding, now accounting for 18.24% of the portfolio, surpassing Meta Platforms, Inc. (META). Taiwan Semiconductor Manufacturing Company (TSMC) also made a significant leap from being the sixth-largest holding to breaking into the top three. Following a reduction in the second quarter, NVIDIA (NVDA) has now dropped to the position of the "gatekeeper" among Greenwoods' top ten holdings.
In the second quarter, among Greenwoods' top ten holdings, the firm also increased its positions in $New Oriental (EDU.US)$ and $Futu Holdings Ltd (FUTU.US)$ , purchasing approximately 128,000 and 110,000 shares respectively. The holdings for these two stocks saw quarter-over-quarter growth of about 6.8% and 5%, placing them in the seventh and eighth positions in the portfolio, respectively.
Editor/Emily