Q4 2025 Holdings
Filed 2026-02-12 | 19 holdings | $682.5M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| H World Group LTD(HTHT) | SPONSORED ADS | 44332N106 | $243.4M | 5,172,370 | 35.7% |
| PDD Holdings Inc(PDD) | SPONSORED ADS | 722304102 | $222.5M | 1,962,092 | 32.6% |
| Alphabet Inc(GOOG) | CAP STK CL C | 02079K107 | $94.1M | 300,000 | 13.8% |
| YUM China Hldgs Inc(YUMC) | COM | 98850P109 | $34.1M | 713,999 | 5.0% |
| KE Hldgs Inc(BEKE) | SPONSORED ADS | 482497104 | $18.2M | 1,155,439 | 2.7% |
| RLX Technology Inc(RLX) | SPONSORED ADS | 74969N103 | $18.2M | 7,790,928 | 2.7% |
| Netease Inc(NTES) | SPONSORED ADS | 64110W102 | $15.1M | 110,000 | 2.2% |
| Iqiyi Inc(IQ) | SPONSORED ADS | 46267X108 | $13.1M | 6,800,000 | 1.9% |
| Taiwan Semiconductor MFG LTD(TSM) | SPONSORED ADS | 874039100 | $8.7M | 28,734 | 1.3% |
| Ishares TR(TLT) | 20 YR TR BD ETF | 464287432 | $5.2M | 59,100 | 0.8% |
| Kanzhun Limited(BZ) | SPONSORED ADS | 48553T106 | $5.1M | 251,642 | 0.8% |
| Agora Inc(API) | ADS | 00851L103 | $2.8M | 700,000 | 0.4% |
| Yatsen Hldg LTD(YSG) | SPONSORED ADS | 985194208 | $2.1M | 529,993 | 0.3% |