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Greenwoods Asset Management Hong Kong Ltd.

SUITE 3601-05 & 3620, 36/F JARDINE HOUSE, 1 CONNAUGHT PL., CENTRAL, HONG KONG, K3 00000 • 852 3105 2930

Q3 2025 · Filed 2025-11-10
Market Value
$4.4B
+54.6%
Holdings
36
+3
New Purchases
9
Added To
8
Closed
6
Reduced
6
Top 10 Concentration
81.9%
Turnover
41.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOGL 9.64% 1.13% +8.50% $428M
NVDA 9.99% 3.47% +6.53% $444M
SNPS 1.84% 0.00% +1.84% $82M
ATAT 1.94% 0.24% +1.70% $86M
BABA 3.39% 1.84% +1.56% $151M
UNH 1.30% 0.00% +1.30% $58M
XBI 1.25% 0.00% +1.25% $56M
AAPL 1.22% 0.00% +1.22% $54M
YNDX 3.23% 2.46% +0.77% $143M
SE 1.65% 1.00% +0.65% $73M
WRD 0.60% 0.00% +0.60% $27M
MMYT 0.54% 0.00% +0.54% $24M
UBER 0.54% 0.00% +0.54% $24M
SPOT 0.21% 0.00% +0.21% $9M
HTHT 0.32% 0.21% +0.11% $14M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NTES 10.99% 16.33% -5.34% $488M
META 20.27% 25.47% -5.20% $900M
YMM 8.35% 11.84% -3.49% $371M
QFIN 2.14% 4.97% -2.84% $95M
FUTU 3.90% 6.59% -2.69% $173M
PDD 9.99% 11.73% -1.74% $444M
DQ 0.00% 1.41% -1.41% $0
BEKE 1.57% 2.87% -1.29% $70M
EDU 1.59% 2.49% -0.91% $70M
TCOM 0.00% 0.77% -0.77% $0
MSFT 0.00% 0.50% -0.50% $0
TAL 0.66% 0.95% -0.30% $29M
TSM 0.83% 1.03% -0.21% $37M
INTC 1.43% 1.59% -0.15% $64M
JKS 0.42% 0.58% -0.15% $19M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 32.3%
Consumer Cyclical 29.9%
Communication Services 29.7%
Financial Services 4.6%
Consumer Defensive 2.7%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 10 $2.1B 48.1%
Large Cap 12 $1.5B 34.2%
Mid Cap 8 $663M 14.9%
Small Cap 5 $102M 2.3%
Micro Cap 1 $19M 0.4%

Portfolio Analytics

Avg Market Cap
$771.6B
Median Market Cap
$24.1B
Avg P/E
30.1
Median P/E
28.6
Avg Dividend Yield
0.01%
Avg Beta
0.86
# Stocks
35
# ETFs / Funds
1

Top Holdings (36 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 META 20.27% 1,225,964 $900M $734.38 $169M +234,622 +23.7%
2 NTES 10.99% 3,212,200 $488M $151.99 $19M -273,800 -7.8%
3 NVDA 9.99% 2,378,757 $444M $186.58 $344M +1,748,317 +277.3%
4 PDD 9.99% 3,356,964 $444M $132.17 $107M +137,125 +4.3%
5 GOOGL 9.64% 1,760,320 $428M $243.10 $395M +1,575,378 +851.8%
6 YMM 8.35% 28,597,879 $371M $12.97 $31M -196,648 -0.7%
7 FUTU 3.90% 996,348 $173M $173.91 -$16M -535,041 -34.9%
8 BABA 3.39% 843,409 $151M $178.73 $98M +378,409 +81.4%
9 YNDX 3.23% 1,276,303 $143M $112.27 $73M
10 QFIN 2.14% 3,295,438 $95M $28.78 -$48M
11 ATAT 1.94% 2,290,136 $86M $37.59 $79M +2,079,436 +986.9%
12 SNPS 1.84% 165,459 $82M $493.39 +165,459 NEW
13 SE 1.65% 411,144 $73M $178.73 $45M +231,385 +128.7%
14 EDU 1.59% 1,328,218 $70M $53.07 -$1M
15 BEKE 1.57% 3,676,995 $70M $19.00 -$12M -963,711 -20.8%
16 INTC 1.43% 1,896,037 $64M $33.55 $18M -139,036 -6.8%
17 UNH 1.30% 167,432 $58M $345.30 +167,432 NEW
18 XBI 1.25% 555,015 $56M $100.20 +555,015 NEW
19 AAPL 1.22% 213,104 $54M $254.63 +213,104 NEW
20 TSM 0.83% 131,264 $37M $279.29 $7M
21 TAL 0.66% 2,597,180 $29M $11.20 $2M -74,181 -2.8%
22 WRD 0.60% 2,684,200 $27M $9.90 +2,684,200 NEW
23 MMYT 0.54% 256,900 $24M $93.60 +256,900 NEW
24 UBER 0.54% 244,670 $24M $97.97 +244,670 NEW
25 JKS 0.42% 780,933 $19M $24.03 $2M
26 HTHT 0.32% 360,000 $14M $39.11 $8M +183,200 +103.6%
27 SPOT 0.21% 13,226 $9M $698.00 +13,226 NEW
28 HDL 0.11% 268,341 $5M $18.79 -$196K
29 RERE 0.05% 525,000 $2M $4.60 $677K
30 GOOG 0.02% 3,596 $876K $243.55 +3,596 NEW
31 HSAI —% -$884K -40,291 -100.0% SOLD
32 DQ —% -$41M -2,672,161 -100.0% SOLD
33 TCOM —% -$22M -377,500 -100.0% SOLD
34 MSFT —% -$14M -28,650 -100.0% SOLD
35 CSIQ —% -$4M -335,183 -100.0% SOLD
36 ONC —% -$4M -15,502 -100.0% SOLD

New Positions

SymbolValue% Port
SNPS $82M 1.84%
UNH $58M 1.30%
XBI $56M 1.25%
AAPL $54M 1.22%
WRD $27M 0.60%
MMYT $24M 0.54%
UBER $24M 0.54%
SPOT $9M 0.21%
GOOG $876K 0.02%

Sold Out Positions

SymbolValue% Port
DQ —%
HSAI —%
CSIQ —%
MSFT —%
ONC —%
TCOM —%
View SEC EDGAR Filings for Greenwoods Asset Management Hong Kong Ltd. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms