Snow Lake Capital (HK) Ltd

CIK

1565316

Location

CENTRAL, K3

Portfolio Value

Small $150,574,855

Diversification

Moderately concentrated

Filing Date

Global Rank

#3,549 / 6,944 ▼ 372

Top Industry

Education & Training Services 40.5%

3Y Alpha vs SPY

-12.3%

Period ended 3 years ago

Filed Feb 14, 2023 · 3y

8 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+31.0%

SPY

+76.3%

Annualised alpha

-11.4%

Max drawdown

−41.2%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

9 positions · as of Dec 31, 2022 · Δ vs Sep 30, 2022

Top Position

33.6%

+8.2 pts

Top 5

83.7%

−12.2 pts

Top 10

100.0%

0.0 pts

HHI

1,951

Moderately concentrated−46

Portfolio Trend

8 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2022

Sector	% Portfolio	Value	Positions
Consumer Defensive	40.5%	$61,044,075	2
Technology	36.1%	$54,356,880	3
Consumer Cyclical	23.4%	$35,173,900	4

Last Quarter's Activity

Export CSV

Dec 31, 2022 vs Sep 30, 2022

Added To

Positions the filer increased

2 positions

Ticker	Company	Δ Shares	Shares	Value
JKS	JinkoSolar Holding Co., Ltd.	+101,000	801,000	$32,744,880
EDU	New Oriental Education & Technology Group Inc.	+100,000	300,000	$10,446,000
No positions match the current search.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
ACMR	ACM Research, Inc.	−2,800,000	800,000	$6,168,000
DQ	Daqo New Energy Corp.	−250,000	400,000	$15,444,000
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
VIPS	Vipshop Holdings Ltd	1,100,000	$15,004,000
PDD	PDD Holdings Inc.	150,000	$12,232,500
HTHT	H World Group Ltd	100,000	$4,242,000
TSLA	Tesla, Inc.	30,000	$3,695,400
No positions match the current search.

Sold Out

Positions the filer fully exited

2 positions

Ticker	Company	Shares	Value
IQ	iQIYI, Inc.	5,882,352	$15,941,173
JD	JD.com, Inc.	50,000	$2,515,000
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

9 positions · $150,574,855 total · as of Dec 31, 2022

All sectors Consumer Cyclical Consumer Defensive Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TAL	TAL Education Group Consumer Defensive	Held	7,177,032	0	$50,598,075	+42.7%	33.60%
JKS	JinkoSolar Holding Co., Ltd. Technology	Added	801,000	+101,000	$32,744,880	−15.5%	21.75%
DQ	Daqo New Energy Corp. Technology	Reduced	400,000	-250,000	$15,444,000	−55.2%	10.26%
VIPS	Vipshop Holdings Ltd Consumer Cyclical	NEW	1,100,000	NEW	$15,004,000	NEW	9.96%
PDD	PDD Holdings Inc. Consumer Cyclical	NEW	150,000	NEW	$12,232,500	NEW	8.12%
EDU	New Oriental Education & Technology Group Inc. Consumer Defensive	Added	300,000	+100,000	$10,446,000	+117.9%	6.94%
ACMR	ACM Research, Inc. Technology	Reduced	800,000	-2,800,000	$6,168,000	−86.2%	4.10%
HTHT	H World Group Ltd Consumer Cyclical	NEW	100,000	NEW	$4,242,000	NEW	2.82%
TSLA	Tesla, Inc. Consumer Cyclical	NEW	30,000	NEW	$3,695,400	NEW	2.45%