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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
+15.78%
1 Year Est. Return
+53.95%
3 Year Est. Return
+114.84%
5 Year Est. Return
+42.53%
10 Year Est. Return
+777%
AUM
$510M
AUM Growth
-$90.5M
(-15%)
Cap. Flow
-$155M
Cap. Flow
% of AUM
-30.42%
Top 10 Holdings %
Top 10 Hldgs %
61.97%
Holding
45
New
8
Increased
8
Reduced
18
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
IPG Photonics
IPGP
|
+$19.6M |
| 2 |
argenx
ARGX
|
+$10.7M |
| 3 |
Vir Biotechnology
VIR
|
+$9.14M |
| 4 |
SECO
Secoo Holding Limited ADR
SECO
|
+$5.16M |
| 5 |
GDS Holdings
GDS
|
+$5.01M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$34M |
| 2 |
HUYA
Huya Inc
HUYA
|
+$26.6M |
| 3 |
ONC
BeOne Medicines Ltd
ONC
|
+$22.3M |
| 4 |
HDFC Bank
HDB
|
+$19.1M |
| 5 |
BEDU
Bright Scholar Education Holdings
BEDU
|
+$19M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 38.9% |
| 2 | Healthcare | 13.31% |
| 3 | Technology | 10.8% |
| 4 | Consumer Staples | 10.59% |
| 5 | Financials | 9.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Alibaba
BABA
$276B
| $94.9M | 18.63% |
447,649
-181,222
| -29% | -$34M |
|
2
Yum China
YUMC
$15.1B
| $35.2M | 6.91% |
733,378
+47,683
| +7% | +$2.12M |
|
|
3
HDFC Bank
HDB
$135B
| $29.9M | 5.86% |
942,212
-627,156
| -40% | -$19.1M |
|
|
BEDU
4
DELISTED
Bright Scholar Education Holdings
BEDU
| $28.2M | 5.53% |
797,759
-511,695
| -39% | -$19M |
|
5
Vipshop
VIPS
$6.96B
| $23.4M | 4.58% |
1,648,862
-274,600
| -14% | -$3.25M |
|
6
Zai Lab
ZLAB
$2.28B
| $22.5M | 4.41% |
540,359
-161,444
| -23% | -$5.96M |
|
|
ONC
7
BeOne Medicines Ltd
ONC
$32.4B
| $21.9M | 4.3% |
132,243
-134,267
| -50% | -$22.3M |
|
8
Cognizant
CTSH
$21.2B
| $21.2M | 4.16% |
342,179
-130,735
| -28% | -$8.08M |
|
|
9
IPG Photonics
IPGP
$4.43B
| $20.4M | 4% |
+140,717
| New | +$19.6M |
|
|
HUYA
10
Huya Inc
HUYA
$551M
| $18.2M | 3.58% |
1,015,703
-1,259,000
| -55% | -$26.6M |
|
|
SECO
11
DELISTED
Secoo Holding Limited ADR
SECO
| $16.4M | 3.22% |
278,239
+86,934
| +45% | +$5.16M |
|
12
Melco Resorts & Entertainment
MLCO
$2.12B
| $14.3M | 2.81% |
591,760
-848,097
| -59% | -$18.4M |
|
|
13
argenx
ARGX
$53.8B
| $12.7M | 2.49% |
+79,095
| New | +$10.7M |
|
14
Trip.com Group
TCOM
$26.7B
| $12.4M | 2.44% |
370,200
| – | – |
|
15
GrafTech
EAF
$181M
| $11.8M | 2.31% |
101,176
-57,359
| -36% | -$7.21M |
|
16
Baidu
BIDU
$36.5B
| $10.9M | 2.14% |
86,399
| – | – |
|
17
Petrobras
PBR
$116B
| $10.9M | 2.14% |
684,450
+3,300
| +0.5% | +$50.4K |
|
18
ICICI Bank
IBN
$107B
| $10.5M | 2.07% |
698,776
-133,181
| -16% | -$1.81M |
|
|
AIU
19
DELISTED
Meta Data Limited American Depositary Shares, each representing ten (10) Class A Ordinary Shares
AIU
| $9.64M | 1.89% |
11,557
-418
| -3% | -$369K |
|
|
20
GDS Holdings
GDS
$6.24B
| $9.38M | 1.84% |
181,893
+111,893
| +160% | +$5.01M |
|
|
21
Vir Biotechnology
VIR
$1.59B
| $8.57M | 1.68% |
+681,936
| New | +$9.14M |
|
22
Fomento Económico Mexicano
FMX
$44B
| $7.83M | 1.54% |
82,800
-2,100
| -2% | -$193K |
|
23
America Movil
AMX
$78.9B
| $7.35M | 1.44% |
459,100
+199,000
| +77% | +$3.11M |
|
24
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$774B
| $7.24M | 1.42% |
+22,500
| New | +$6.93M |
|
25
Itaú Unibanco
ITUB
$90.4B
| $7.13M | 1.4% |
1,071,566
-215,106
| -17% | -$1.35M |
|
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Indus Capital Partners's Q4 2019 Portfolio in Review
As of Q4 2019, Indus Capital Partners held 45 positions worth $510M, down 15% from $600M the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Indus Capital Partners withdrew a net $155M in Q4 2019, closing 9 positions and reducing 18 holdings. Its most notable exit was Baozun, an estimated $15.6M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 39% of assets, up from 38% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Indus Capital Partners opened a new position in IPG Photonics worth $20.4M.
- Indus Capital Partners's largest Q4 2019 buy was IPG Photonics: 140,717 shares worth $20.4M.
- Indus Capital Partners added most to Secoo Holding Limited ADR in Q4 2019, an estimated $5.16M increase.
- Indus Capital Partners's biggest Q4 2019 reduction was Alibaba, cutting an estimated $34M.
- Indus Capital Partners fully exited Baozun in Q4 2019, selling an estimated $15.6M.
- Indus Capital Partners's ten largest holdings make up 62% of its $510M portfolio in Q4 2019.
- Indus Capital Partners opened 8 new positions and closed 9 in Q4 2019.
- Indus Capital Partners's portfolio value fell 15% quarter-over-quarter to $510M.
Based on Indus Capital Partners's 13F filing for Q4 2019, filed 14 Feb 2020.