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TPC
Tiger Pacific Capital Portfolio holdings
AUM
$410M
1-Year Est. Return
0.97%
This Fund
S&P 500
This Quarter
Est. Return
+24.22%
1 Year Est. Return
-0.97%
3 Year Est. Return
+69.65%
5 Year Est. Return
+32.65%
10 Year Est. Return
+458.67%
AUM
$346M
AUM Growth
+$30.6M
(+9.7%)
Cap. Flow
-$33.3M
Cap. Flow
% of AUM
-9.64%
Top 10 Holdings %
Top 10 Hldgs %
95.02%
Holding
17
New
2
Increased
4
Reduced
5
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
JD.com
JD
|
+$29.8M |
| 2 |
Sea Limited
SE
|
+$24.9M |
| 3 |
TAL Education Group
TAL
|
+$18.3M |
| 4 |
NOAH
Noah Holdings
NOAH
|
+$11.3M |
| 5 |
Yum China
YUMC
|
+$959K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$30.1M |
| 2 |
New Oriental
EDU
|
+$21.2M |
| 3 |
iQIYI
IQ
|
+$15.4M |
| 4 |
Baidu
BIDU
|
+$14.2M |
| 5 |
Bilibili
BILI
|
+$11.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 44.8% |
| 2 | Financials | 23.48% |
| 3 | Communication Services | 21.32% |
| 4 | Consumer Staples | 6.29% |
| 5 | Technology | 4.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
NOAH
1
Noah Holdings
NOAH
$610M
| $81.2M | 23.48% |
2,295,763
+369,410
| +19% | +$11.3M |
|
|
2
Sea Limited
SE
$63.7B
| $56.3M | 16.3% |
1,400,917
+739,669
| +112% | +$24.9M |
|
|
3
Bilibili
BILI
$7.55B
| $37.6M | 10.87% |
2,018,226
-733,417
| -27% | -$11.9M |
|
|
4
Alibaba
BABA
$276B
| $35.4M | 10.22% |
166,668
-160,501
| -49% | -$30.1M |
|
|
5
JD.com
JD
$40B
| $32.5M | 9.4% |
+923,010
| New | +$29.8M |
|
|
6
Yum China
YUMC
$15.1B
| $26M | 7.52% |
541,828
+21,575
| +4% | +$959K |
|
|
7
TAL Education Group
TAL
$5.68B
| $20.6M | 5.95% |
+426,654
| New | +$18.3M |
|
8
GDS Holdings
GDS
$6.24B
| $14.2M | 4.11% |
275,267
+20,000
| +8% | +$896K |
|
|
JOYY
9
JOYY Inc
JOYY
$3.53B
| $13.2M | 3.83% |
250,900
| – | – |
|
|
10
iQIYI
IQ
$1.15B
| $11.5M | 3.34% |
546,619
-835,912
| -60% | -$15.4M |
|
|
11
Baidu
BIDU
$36.5B
| $11.4M | 3.29% |
89,878
-124,662
| -58% | -$14.2M |
|
12
Huazhu Hotels Group
HTHT
$12.8B
| $4.69M | 1.36% |
116,967
-191,369
| -62% | -$6.91M |
|
|
FEDU
13
Four Seasons Education Depositary Shares Rep 10 Ordinary Shares
FEDU
| $1.17M | 0.34% |
36,694
| – | – |
|
|
14
New Oriental
EDU
$7.82B
| – | – |
-191,320
| Closed | -$21.2M |
|
|
MOMO
15
Hello Group
MOMO
$886M
| – | – |
-249,721
| Closed | -$7.74M |
|
16
Trip.com Group
TCOM
$26.7B
| – | – |
-45,000
| Closed | -$1.32M |
|
|
BEST
17
DELISTED
BEST Inc. American Depositary Shares, each representing twenty (20) Class A Ordinary Shares
BEST
| – | – |
-101,963
| Closed | -$10.8M |
|
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Tiger Pacific Capital's Q4 2019 Portfolio in Review
As of Q4 2019, Tiger Pacific Capital held 17 positions worth $346M, up 9.7% from $315M the previous quarter. Its ten largest holdings account for 95% of the portfolio.
Tiger Pacific Capital withdrew a net $33.3M in Q4 2019, closing 4 positions and reducing 5 holdings. Its most notable exit was New Oriental, an estimated $21.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 45% of assets, up from 35% a quarter earlier, followed by Financials and Communication Services.
Against the trend, Tiger Pacific Capital opened a new position in JD.com worth $32.5M.
- Tiger Pacific Capital's largest Q4 2019 buy was JD.com: 923,010 shares worth $32.5M.
- Tiger Pacific Capital added most to Sea Limited in Q4 2019, an estimated $24.9M increase.
- Tiger Pacific Capital's biggest Q4 2019 reduction was Alibaba, cutting an estimated $30.1M.
- Tiger Pacific Capital fully exited New Oriental in Q4 2019, selling an estimated $21.2M.
- Tiger Pacific Capital's ten largest holdings make up 95% of its $346M portfolio in Q4 2019.
- Tiger Pacific Capital opened 2 new positions and closed 4 in Q4 2019.
- Tiger Pacific Capital's portfolio value rose 9.7% quarter-over-quarter to $346M.
Based on Tiger Pacific Capital's 13F filing for Q4 2019, filed 10 Feb 2020.