Greenwoods Asset Management Ltd

CIK

1577133

Location

GRAND CAYMAN, KY1-1111, E9

Portfolio Value

Mid $4,353,808,635

Diversification

Diversified

Filing Date

Global Rank

#623 / 6,028 ▲ 64 · as of Dec 2020

Top Industry

Internet Retail 43.3%

Period ended 5 years ago

Filed Feb 12, 2021 · 5y

4 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

13F reports continue under

Greenwoods Asset Management Hong Kong Ltd. from Mar 31, 2021

Portfolio style

Measured from the filed 13F common-share book for Dec 31, 2020, never from the firm's own description.

Style

Concentrated

The top 10 positions are 83.5% of the book (60%+)

Turnover

Turnover unknown

It needs four straight quarters of measured turnover

Horizon

Horizon unknown

The value-weighted holding period is at least 3.6 quarters, but 78.2% of the book was already held when coverage starts

Closest benchmark: the Nasdaq-100 as of 2020-12-31, active share 81.9%; sector active share 50.5% against the combined 13F book's sector weights.

Over time 4 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

39 tracked positions · as of Dec 31, 2020 · Δ vs Sep 30, 2020

Top Position

26.1%

+9.4 pts

Top 5

61.1%

+0.1 pts

Top 10

83.5%

−3.0 pts

HHI

1,127

Diversified+182

Portfolio Trend

4 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2020

Sector	% Portfolio	Value	Positions
Consumer Cyclical	46.3%	$2,016,074,346	8
Communication Services	19.9%	$867,385,929	5
Technology	15.5%	$676,331,435	12
Industrials	9.2%	$398,478,202	2
Consumer Defensive	5.7%	$250,160,716	2
Real Estate	1.2%	$53,703,188	1
Healthcare	1.2%	$51,979,574	5
Basic Materials	0.7%	$29,319,600	1
Financial Services	0.2%	$8,183,645	2
Unclassified	0.1%	$2,192,000	1

Last Quarter's Activity

Export CSV

Dec 31, 2020 vs Sep 30, 2020

Added To

Positions the filer increased

15 positions

Ticker	Company	Δ Shares	Shares	Value
PDD	PDD Holdings Inc.	+3,115,197	6,403,552	$1,137,719,083
TSM	Taiwan Semiconductor Manufacturing Co Ltd	+2,342,270	2,615,770	$285,223,560
NTES	NetEase, Inc.	+1,561,056	1,951,320	$186,877,916
TAL	TAL Education Group	+1,247,105	3,312,033	$236,843,479
AAPL	Apple Inc.	+1,200,420	1,759,205	$233,428,911
BILI	Bilibili Inc.	+293,900	1,812,258	$155,346,755
BIDU	Baidu, Inc.	+287,424	338,582	$73,214,971
BEKE	KE Holdings Inc.	+168,895	872,655	$53,703,188
SE	Sea Ltd	+56,680	2,129,532	$423,883,344
JKS	Jinko Holdings Ltd	+55,250	66,650	$4,123,635
VNET	VNET Group, Inc.	+12,500	57,913	$2,009,001
DQ	Daqo New Energy Corp.	+7,680	39,690	$2,276,618
NVDA	Nvidia Corp	+3,340	7,282	$3,802,660
NOW	ServiceNow, Inc.	+2,030	8,421	$4,635,171
GOOGL	Alphabet Inc.	+144	20,860	$36,560,070
No positions match the current search.

Trimmed

Positions the filer reduced

10 positions

Ticker	Company	Δ Shares	Shares	Value
VIPS	Vipshop Holdings Ltd	−3,130,475	5,862,984	$164,808,480
JD	JD.com, Inc.	−2,191,041	465,537	$40,920,702
ZTO	ZTO Express (Cayman) Inc.	−1,689,506	13,588,116	$396,229,462
BABA	Alibaba Group Holding Ltd	−842,348	380,421	$88,535,379
XYF	X Financial	−631,457	315,728	$631,456
UBER	Uber Technologies, Inc	−486,030	155,072	$7,908,672
META	Meta Platforms, Inc.	−467,400	1,520,670	$415,386,217
DAO	Youdao, Inc.	−390,205	501,969	$13,317,237
SY	So-Young International Inc.	−227,144	3,597,080	$39,963,558
MSFT	Microsoft Corp	−12,959	532,051	$118,338,783
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
TSLA	Tesla, Inc.	183,980	$129,829,148
ALB	Albemarle Corp	198,750	$29,319,600
XYZ	Block, Inc.	17,300	$3,765,172
BLDP	Ballard Power Systems Inc.	96,100	$2,248,740
ABNB	Airbnb, Inc.	10,300	$1,512,040
CREE	Wolfspeed, Inc.	3,150	$334,000
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
EDU	New Oriental Education & Technology Group Inc.	191,713	$28,661,093
BNR	Burning Rock Biotech Ltd	100,000	$2,508,000
WYNN	Wynn Resorts Ltd	9,239	$663,452
ZM	Zoom Communications, Inc.	1,018	$478,571
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

39 tracked positions · $4,353,808,635 total · filing declares 39 positions · $4,353,808,000 · as of Dec 31, 2020

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
PDD	PDD Holdings Inc. Consumer Cyclical	Added	6,403,552	+3,115,197	$1,137,719,083	+366.6%	4+	before history	26.13%
SE	Sea Ltd Consumer Cyclical	Added	2,129,532	+56,680	$423,883,344	+32.8%	4+	before history	9.74%
META	Meta Platforms, Inc. Communication Services	Reduced	1,520,670	-467,400	$415,386,217	−20.2%	4+	before history	9.54%
ZTO	ZTO Express (Cayman) Inc. Industrials	Reduced	13,588,116	-1,689,506	$396,229,462	−13.3%	4+	before history	9.10%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Added	2,615,770	+2,342,270	$285,223,560	+1186.4%	2	$92.88	6.55%
TAL	TAL Education Group Consumer Defensive	Added	3,312,033	+1,247,105	$236,843,479	+50.8%	4+	before history	5.44%
AAPL	Apple Inc. Technology	Added	1,759,205	+1,200,420	$233,428,911	+260.7%	2	unpriced	5.36%
NTES	NetEase, Inc. Communication Services	Added	1,951,320	+1,561,056	$186,877,916	+5.3%	3	$80.91	4.29%
VIPS	Vipshop Holdings Ltd Consumer Cyclical	Reduced	5,862,984	-3,130,475	$164,808,480	+17.2%	4+	before history	3.79%
BILI	Bilibili Inc. Communication Services	Added	1,812,258	+293,900	$155,346,755	+145.9%	4+	before history	3.57%
TSLA	Tesla, Inc. Consumer Cyclical	NEW	183,980	NEW	$129,829,148	NEW	1	$511.95	2.98%
MSFT	Microsoft Corp Technology	Reduced	532,051	-12,959	$118,338,783	+3.2%	4+	before history	2.72%
BABA	Alibaba Group Holding Ltd Consumer Cyclical	Reduced	380,421	-842,348	$88,535,379	−75.4%	4+	before history	2.03%
BIDU	Baidu, Inc. Communication Services	Added	338,582	+287,424	$73,214,971	+1030.5%	4+	before history	1.68%
BEKE	KE Holdings Inc. Real Estate	Added	872,655	+168,895	$53,703,188	+24.5%	2	$53.14	1.23%
JD	JD.com, Inc. Consumer Cyclical	Reduced	465,537	-2,191,041	$40,920,702	−80.2%	4+	before history	0.94%
SY	So-Young International Inc. Healthcare	Reduced	3,597,080	-227,144	$39,963,558	−16.3%	4+	before history	0.92%
GOOGL	Alphabet Inc. Communication Services	Added	20,860	+144	$36,560,070	+20.4%	4+	before history	0.84%
ALB	Albemarle Corp Basic Materials	NEW	198,750	NEW	$29,319,600	NEW	1	$118.72	0.67%
AMZN	Amazon Com Inc Consumer Cyclical	Held	8,863	0	$28,866,170	+3.4%	4+	before history	0.66%
DAO	Youdao, Inc. Consumer Defensive	Reduced	501,969	-390,205	$13,317,237	−42.2%	4+	before history	0.31%
SHOP	Shopify Inc. Technology	Held	9,263	0	$10,485,252	+10.7%	2	$994.16	0.24%
UBER	Uber Technologies, Inc Technology	Reduced	155,072	-486,030	$7,908,672	−66.2%	4+	before history	0.18%
HTT	High Templar Tech Ltd Financial Services	Held	5,472,601	0	$7,552,189	+11.3%	4+	before history	0.17%
ZLAB	Zai Lab Ltd Healthcare	Held	37,015	0	$5,009,610	+62.7%	4+	before history	0.12%
NOW	ServiceNow, Inc. Technology	Added	8,421	+2,030	$4,635,171	+49.5%	4+	before history	0.11%
JKS	Jinko Holdings Ltd Technology	Added	66,650	+55,250	$4,123,635	+809.8%	2	$56.34	0.09%
NVDA	Nvidia Corp Technology	Added	7,282	+3,340	$3,802,660	+78.2%	4+	before history	0.09%
XYZ	Block, Inc. Technology	NEW	17,300	NEW	$3,765,172	NEW	1	$195.07	0.09%
YI	111, Inc. Healthcare	Held	501,852	0	$3,487,871	+12.1%	4+	before history	0.08%
HCM	HUTCHMED (China) Ltd Healthcare	Held	100,169	0	$3,207,411	−0.9%	4+	before history	0.07%
DQ	Daqo New Energy Corp. Technology	Added	39,690	+7,680	$2,276,618	−47.4%	3	$10.95	0.05%
BLDP	Ballard Power Systems Inc. Industrials	NEW	96,100	NEW	$2,248,740	NEW	1	$18.42	0.05%
		Held	18,000	0	$2,192,000	—	2	unpriced	0.05%
VNET	VNET Group, Inc. Technology	Added	57,913	+12,500	$2,009,001	+91.0%	2	$23.94	0.05%
ABNB	Airbnb, Inc. Consumer Cyclical	NEW	10,300	NEW	$1,512,040	NEW	1	unpriced	0.03%
XYF	X Financial Financial Services	Reduced	315,728	-631,457	$631,456	+28.2%	4+	before history	0.01%
CREE	Wolfspeed, Inc. Technology	NEW	3,150	NEW	$334,000	NEW	1	unpriced	0.01%
CCM	Concord Medical Services Holdings Ltd Healthcare	Held	113,549	0	$311,124	+38.4%	4+	before history	0.01%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.