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GAMH

Greenwoods Asset Management (HK) Portfolio holdings

AUM $3.88B
1-Year Est. Return 23.82%
This Fund
S&P 500
This Quarter Est. Return
+16.93%
1 Year Est. Return
+23.82%
3 Year Est. Return
+183.86%
5 Year Est. Return
+189.17%
10 Year Est. Return
–
AUM
$2.87B
AUM Growth
-$354M
Cap. Flow
-$664M
Cap. Flow %
-23.1%
Top 10 Hldgs %
88.19%
Holding
34
New
3
Increased
7
Reduced
13
Closed
6

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$79.3M
2
YMM icon
Full Truck Alliance
YMM
+$32.6M
3
QFIN icon
Qfin Holdings
QFIN
+$25.3M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$22.7M
5
META icon
Meta Platforms (Facebook)
META
+$13.6M

Top Sells

Rank Stock Value
1
TSM icon
TSMC
TSM
+$267M
2
AAPL icon
Apple
AAPL
+$174M
3
PDD icon
Pinduoduo
PDD
+$149M
4
ZTO icon
ZTO Express
ZTO
+$130M
5
FUTU icon
Futu Holdings
FUTU
+$37.9M

Sector Composition

Rank Sector Weight
1 Communication Services 45.42%
2 Technology 20.53%
3 Consumer Discretionary 16.05%
4 Financials 11.56%
5 Consumer Staples 3.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
META icon
1
Meta Platforms (Facebook)
META
$1.4T
$732M 25.46%
991,342
+22,065
+2% +$13.6M
NTES icon
2
NetEase
NTES
$85B
$469M 16.33%
3,486,000
-89,098
-2% -$10.2M
YMM icon
3
Full Truck Alliance
YMM
$9.9B
$340M 11.83%
28,794,527
+2,799,386
+11% +$32.6M
PDD icon
4
Pinduoduo
PDD
$125B
$337M 11.73%
3,219,839
-1,415,680
-31% -$149M
FUTU icon
5
Futu Holdings
FUTU
$14.8B
$189M 6.59%
1,531,389
-370,246
-19% -$37.9M
QFIN icon
6
Qfin Holdings
QFIN
$1.69B
$143M 4.97%
3,295,438
+606,446
+23% +$25.3M
NVDA icon
7
NVIDIA
NVDA
$4.8T
$99.6M 3.47%
+630,440
New +$79.3M
BEKE icon
8
KE Holdings
BEKE
$18.6B
$82.3M 2.86%
4,640,706
-131,100
-3% -$2.52M
EDU icon
9
New Oriental
EDU
$9.32B
$71.7M 2.49%
1,328,218
-67,821
-5% -$3.22M
NBIS
10
Nebius Group N.V.
NBIS
$47.8B
$70.6M 2.46%
1,276,303
-941,711
-42% -$32.4M
BABA icon
11
Alibaba
BABA
$292B
$52.7M 1.84%
465,000
-136,142
-23% -$16.1M
INTC icon
12
Intel
INTC
$466B
$45.6M 1.59%
2,035,073
-144,922
-7% -$3M
DQ
13
Daqo New Energy
DQ
$818M
$40.5M 1.41%
2,672,161
– –
GOOGL icon
14
Alphabet (Google) Class A
GOOGL
$4.32T
$32.6M 1.13%
184,942
+138,952
+302% +$22.7M
TSM icon
15
TSMC
TSM
$2.11T
$29.7M 1.03%
131,264
-1,443,293
-92% -$267M
SE icon
16
Sea Limited
SE
$65.7B
$28.8M 1%
179,759
+89,025
+98% +$12.9M
TAL icon
17
TAL Education Group
TAL
$6.91B
$27.3M 0.95%
2,671,361
+222,544
+9% +$2.3M
TCOM icon
18
Trip.com Group
TCOM
$29.5B
$22.1M 0.77%
377,500
-6,043
-2% -$363K
JKS
19
JinkoSolar
JKS
$786M
$16.6M 0.58%
780,933
– –
MSFT icon
20
Microsoft
MSFT
$3.43T
$14.3M 0.5%
28,650
– –
ATAT icon
21
Atour Lifestyle Holdings
ATAT
$4.67B
$6.85M 0.24%
+210,700
New +$5.99M
HTHT icon
22
Huazhu Hotels Group
HTHT
$13.1B
$6M 0.21%
+176,800
New +$6.2M
HDL
23
Super Hi International Holding
HDL
$777M
$5.24M 0.18%
268,341
– –
ONC
24
BeOne Medicines Ltd
ONC
$32.6B
$3.75M 0.13%
15,502
+6,173
+66% +$1.51M
CSIQ icon
25
Canadian Solar
CSIQ
$1.02B
$3.7M 0.13%
335,183
-780,678
-70% -$7.55M
1
2

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Greenwoods Asset Management (HK)'s Q2 2025 Portfolio in Review

As of Q2 2025, Greenwoods Asset Management (HK) held 34 positions worth $2.87B, down 11% from $3.23B the previous quarter. Its ten largest holdings account for 88% of the portfolio.

Greenwoods Asset Management (HK) withdrew a net $664M in Q2 2025, closing 6 positions and reducing 13 holdings. Its most notable exit was Apple, an estimated $174M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 45% of assets, up from 31% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Greenwoods Asset Management (HK) opened a new position in NVIDIA worth $99.6M.

  • Greenwoods Asset Management (HK)'s largest Q2 2025 buy was NVIDIA: 630,440 shares worth $99.6M.
  • Greenwoods Asset Management (HK) added most to Full Truck Alliance in Q2 2025, an estimated $32.6M increase.
  • Greenwoods Asset Management (HK)'s biggest Q2 2025 reduction was TSMC, cutting an estimated $267M.
  • Greenwoods Asset Management (HK) fully exited Apple in Q2 2025, selling an estimated $174M.
  • Greenwoods Asset Management (HK)'s ten largest holdings make up 88% of its $2.87B portfolio in Q2 2025.
  • Greenwoods Asset Management (HK) opened 3 new positions and closed 6 in Q2 2025.
  • Greenwoods Asset Management (HK)'s portfolio value fell 11% quarter-over-quarter to $2.87B.

Based on Greenwoods Asset Management (HK)'s 13F filing for Q2 2025, filed 8 Aug 2025.