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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

Q4 2025 · Filed 2026-02-06
Market Value
$4.0B
-8.9%
Holdings
31
-5
New Purchases
1
Added To
5
Closed
3
Reduced
10
Top 10 Concentration
82.9%
Turnover
12.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOGL 20.82% 9.64% +11.18% $842M
AVGO 2.10% 0.00% +2.10% $85M
PDD 11.12% 9.99% +1.13% $450M
INTC 2.36% 1.43% +0.93% $96M
FUTU 4.61% 3.90% +0.71% $187M
HTHT 0.98% 0.32% +0.66% $40M
ATAT 2.23% 1.94% +0.29% $90M
EDU 1.81% 1.59% +0.22% $73M
AAPL 1.43% 1.22% +0.21% $58M
JKS 0.50% 0.42% +0.08% $20M
SNPS 1.90% 1.84% +0.06% $77M
TAL 0.70% 0.66% +0.05% $28M
RERE 0.07% 0.05% +0.01% $3M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NVDA 3.86% 9.99% -6.13% $156M
META 16.27% 20.27% -4.01% $658M
YNDX 1.32% 3.23% -1.91% $53M
XBI 0.21% 1.25% -1.05% $8M
BEKE 0.70% 1.57% -0.87% $28M
YMM 7.59% 8.35% -0.77% $307M
SE 1.02% 1.65% -0.63% $41M
QFIN 1.57% 2.14% -0.57% $64M
UBER 0.00% 0.54% -0.54% $0
BABA 3.06% 3.39% -0.34% $124M
UNH 1.06% 1.30% -0.24% $43M
SPOT 0.00% 0.21% -0.21% $0
TSM 0.67% 0.83% -0.15% $27M
WRD 0.47% 0.60% -0.13% $19M
NTES 10.93% 10.99% -0.06% $442M

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 51.6%
Large Cap 10 $1.3B 32.6%
Mid Cap 7 $547M 13.5%
Small Cap 3 $71M 1.7%
Micro Cap 1 $20M 0.5%

Portfolio Analytics

Avg Market Cap
$856.8B
Median Market Cap
$53.5B
Avg P/E
29.8
Median P/E
28.9
Avg Dividend Yield
0.02%
Avg Beta
0.88
# Stocks
30
# ETFs / Funds
1

Top Holdings (31 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 GOOGL 20.82% 2,690,000 $842M $313.00 $414M +929,680 +52.8%
2 META 16.27% 996,908 $658M $660.09 -$242M -229,056 -18.7%
3 PDD 11.12% 3,968,270 $450M $113.39 $6M +611,306 +18.2%
4 NTES 10.93% 3,212,200 $442M $137.62 -$46M
5 YMM 7.59% 28,597,879 $307M $10.73 -$64M
6 FUTU 4.61% 1,135,821 $187M $164.21 $13M +139,473 +14.0%
7 NVDA 3.86% 837,907 $156M $186.50 -$288M -1,540,850 -64.8%
8 BABA 3.06% 843,409 $124M $146.58 -$27M
9 INTC 2.36% 2,590,400 $96M $36.90 $32M +694,363 +36.6%
10 ATAT 2.23% 2,290,136 $90M $39.40 $4M
11 AVGO 2.10% 245,800 $85M $346.10 +245,800 NEW
12 SNPS 1.90% 163,661 $77M $469.72 -$5M -1,798 -1.1%
13 EDU 1.81% 1,328,218 $73M $55.03 $3M
14 QFIN 1.57% 3,295,438 $64M $19.27 -$31M
15 AAPL 1.43% 213,104 $58M $271.86 $4M
16 YNDX 1.32% 638,103 $53M $83.71 -$90M -638,200 -50.0%
17 UNH 1.06% 130,310 $43M $330.11 -$15M -37,122 -22.2%
18 SE 1.02% 324,147 $41M $127.57 -$32M -86,997 -21.2%
19 HTHT 0.98% 842,822 $40M $47.05 $26M +482,822 +134.1%
20 TAL 0.70% 2,597,180 $28M $10.91 -$753K
21 BEKE 0.70% 1,793,195 $28M $15.76 -$42M -1,883,800 -51.2%
22 TSM 0.67% 89,826 $27M $303.89 -$9M -41,438 -31.6%
23 MMYT 0.52% 256,900 $21M $82.12 -$3M
24 JKS 0.50% 780,933 $20M $25.81 $1M
25 WRD 0.47% 2,201,800 $19M $8.68 -$7M -482,400 -18.0%
26 XBI 0.21% 68,265 $8M $121.93 -$47M -486,750 -87.7%
27 HDL 0.11% 268,341 $4M $16.06 -$733K
28 RERE 0.07% 525,000 $3M $5.30 $368K
29 UBER —% -$24M -244,670 -100.0% SOLD
30 GOOG —% -$876K -3,596 -100.0% SOLD
31 SPOT —% -$9M -13,226 -100.0% SOLD

New Positions

SymbolValue% Port
AVGO $85M 2.10%

Sold Out Positions

SymbolValue% Port
UBER —%
SPOT —%
GOOG —%
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