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ICP
Indus Capital Partners Portfolio holdings
AUM
$39.7M
1-Year Est. Return
53.95%
This Fund
S&P 500
This Quarter
Est. Return
-16.39%
1 Year Est. Return
+53.95%
3 Year Est. Return
+114.84%
5 Year Est. Return
+42.53%
10 Year Est. Return
+777%
AUM
$553M
AUM Growth
-$233M
(-30%)
Cap. Flow
-$93.2M
Cap. Flow
% of AUM
-16.85%
Top 10 Holdings %
Top 10 Hldgs %
80.72%
Holding
53
New
10
Increased
12
Reduced
11
Closed
18
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Melco Resorts & Entertainment
MLCO
|
+$61M |
| 2 |
HDFC Bank
HDB
|
+$35.8M |
| 3 |
TSG
The Stars Group Inc.
TSG
|
+$21.3M |
| 4 |
BEDU
Bright Scholar Education Holdings
BEDU
|
+$8.89M |
| 5 |
Yum China
YUMC
|
+$7.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GrafTech
EAF
|
+$42M |
| 2 |
Baker Hughes
BKR
|
+$31.5M |
| 3 |
Xerox
XRX
|
+$31.1M |
| 4 |
BZUN
Baozun
BZUN
|
+$25.7M |
| 5 |
Applied Materials
AMAT
|
+$18.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 34.25% |
| 2 | Financials | 21.97% |
| 3 | Communication Services | 16.1% |
| 4 | Consumer Staples | 9.82% |
| 5 | Healthcare | 8.27% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Melco Resorts & Entertainment
MLCO
$2.12B
| $74.5M | 13.46% |
4,225,570
+3,425,570
| +428% | +$61M |
|
|
TSG
2
DELISTED
The Stars Group Inc.
TSG
| $73.3M | 13.25% |
4,436,770
+1,090,831
| +33% | +$21.3M |
|
|
3
HDFC Bank
HDB
$135B
| $73M | 13.2% |
2,819,268
+1,512,628
| +116% | +$35.8M |
|
4
Alibaba
BABA
$276B
| $64.7M | 11.69% |
471,753
-124,200
| -21% | -$18.4M |
|
5
ICICI Bank
IBN
$107B
| $43.3M | 7.83% |
4,207,069
-690,843
| -14% | -$6.52M |
|
|
BEDU
6
DELISTED
Bright Scholar Education Holdings
BEDU
| $36.5M | 6.6% |
991,000
+205,017
| +26% | +$8.89M |
|
7
Tilray
TLRY
$531M
| $24.7M | 4.47% |
35,020
| – | – |
|
|
8
GrafTech
EAF
$181M
| $22.8M | 4.13% |
199,515
-274,843
| -58% | -$42M |
|
|
ONC
9
BeOne Medicines Ltd
ONC
$32.4B
| $19.4M | 3.5% |
138,199
-68,325
| -33% | -$9.06M |
|
10
Vipshop
VIPS
$6.96B
| $14.3M | 2.59% |
2,620,984
+1,165,253
| +80% | +$6.27M |
|
|
SECO
11
DELISTED
Secoo Holding Limited ADR
SECO
| $9.59M | 1.73% |
105,724
+29,447
| +39% | +$2.94M |
|
12
Baidu
BIDU
$36.5B
| $8.47M | 1.53% |
53,402
-6,700
| -11% | -$1.25M |
|
|
13
Yum China
YUMC
$15.1B
| $7.52M | 1.36% |
+224,390
| New | +$7.7M |
|
14
New Oriental
EDU
$7.82B
| $6.74M | 1.22% |
+122,944
| New | +$7.12M |
|
|
BZUN
15
Baozun
BZUN
$146M
| $6.45M | 1.17% |
220,939
-697,650
| -76% | -$25.7M |
|
|
BEST
16
DELISTED
BEST Inc. American Depositary Shares, each representing twenty (20) Class A Ordinary Shares
BEST
| $6.34M | 1.15% |
77,090
+23,145
| +43% | +$2.4M |
|
17
Televisa
TV
$1.43B
| $6.19M | 1.12% |
491,919
+323,822
| +193% | +$4.74M |
|
|
CBD
18
DELISTED
Companhia Brasileira de Distribuicao
CBD
| $6.05M | 1.09% |
+291,387
| New | +$6.22M |
|
19
Trip.com Group
TCOM
$26.7B
| $5.76M | 1.04% |
+212,800
| New | +$6.48M |
|
|
AIU
20
DELISTED
Meta Data Limited American Depositary Shares, each representing ten (10) Class A Ordinary Shares
AIU
| $5.72M | 1.03% |
5,862
-697
| -11% | -$686K |
|
21
Itaú Unibanco
ITUB
$90.4B
| $5.22M | 0.94% |
784,879
-502,111
| -39% | -$3.23M |
|
22
CALL
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.9B
| $4.95M | 0.89% |
+61,000
| New | +$5.11M |
|
23
Cemex
CX
$18.7B
| $4.88M | 0.88% |
1,011,649
+355,933
| +54% | +$1.9M |
|
24
Ambev
ABEV
$46.8B
| $3.6M | 0.65% |
+919,400
| New | +$3.92M |
|
25
POSCO
PKX
$15.4B
| $3.24M | 0.59% |
58,948
-6,798
| -10% | -$390K |
|
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Indus Capital Partners's Q4 2018 Portfolio in Review
As of Q4 2018, Indus Capital Partners held 53 positions worth $553M, down 30% from $786M the previous quarter. Its ten largest holdings account for 81% of the portfolio.
Indus Capital Partners withdrew a net $93.2M in Q4 2018, closing 18 positions and reducing 11 holdings. Its most notable exit was Baker Hughes, an estimated $31.5M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 34% of assets, up from 24% a quarter earlier, followed by Financials and Communication Services.
Against the trend, Indus Capital Partners opened a new position in Yum China worth $7.52M.
- Indus Capital Partners's largest Q4 2018 buy was Yum China: 224,390 shares worth $7.52M.
- Indus Capital Partners added most to Melco Resorts & Entertainment in Q4 2018, an estimated $61M increase.
- Indus Capital Partners's biggest Q4 2018 reduction was GrafTech, cutting an estimated $42M.
- Indus Capital Partners fully exited Baker Hughes in Q4 2018, selling an estimated $31.5M.
- Indus Capital Partners's ten largest holdings make up 81% of its $553M portfolio in Q4 2018.
- Indus Capital Partners opened 10 new positions and closed 18 in Q4 2018.
- Indus Capital Partners's portfolio value fell 30% quarter-over-quarter to $553M.
Based on Indus Capital Partners's 13F filing for Q4 2018, filed 14 Feb 2019.