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Value Partners Portfolio holdings
AUM
$158M
Turnover
57.14%
1-Year Est. Return
21.25%
This Fund
S&P 500
This Quarter Est. Return
+28.78%
1 Year Est. Return
+21.25%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$125M
AUM Growth
-$3.9M
(-3%)
Cap. Flow
-$21.6M
Cap. Flow % of AUM
Cap. Flow %
-17.26%
Top 10 Holdings %
Top 10 Hldgs %
97.21%
Holding
22
New
6
Increased
2
Reduced
3
Closed
7
Avg Time Held
0.3
years
Top 10 Avg Time Held
0.3
years
Top 20 Avg Time Held
0.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baidu
BIDU
|
+$17.5M |
| 2 |
Trip.com Group
TCOM
|
+$10.1M |
| 3 |
SFUN
Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares)
SFUN
|
+$9.9M |
| 4 |
Hello Group
MOMO
|
+$2.94M |
| 5 |
SPDR Gold Trust
GLD
|
+$2.15M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NetEase
NTES
|
+$32.1M |
| 2 |
HMIN
HOMEINNS HOTEL GROUP SPONSORED ADR
HMIN
|
+$21.8M |
| 3 |
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
|
+$4.4M |
| 4 |
QIHU
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
|
+$3.48M |
| 5 |
Walt Disney
DIS
|
+$1.47M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 64.98% |
| 2 | Miscellaneous | 13.33% |
| 3 | Real Estate | 10.59% |
| 4 | Consumer Discretionary | 9.99% |
| 5 | Utilities | 1.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Baidu
BIDU
$26.3B
| $66.8M | 53.39% |
353,200
+95,200
| +37% | +$17.5M |
2015 Q2
2 quarters
|
|
2
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17B
| $12.1M | 9.66% |
150,000
| – | – |
2015 Q3
1 quarter
|
|
|
SFUN
3
DELISTED
Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares)
SFUN
| $10.3M | 8.25% |
+27,920
| New | +$9.9M |
2015 Q4
0 quarters
|
|
|
4
Trip.com Group
TCOM
$25B
| $10.2M | 8.16% |
+220,300
| New | +$10.1M |
2015 Q4
0 quarters
|
|
5
Phoenix New Media
FENG
$16.8M
| $8.53M | 6.82% |
236,167
| – | – |
2015 Q2
2 quarters
|
|
|
6
SPDR Gold Trust
GLD
$135B
| $4.59M | 3.67% |
45,200
+20,300
| +82% | +$2.15M |
2015 Q2
2 quarters
|
|
|
7
Hello Group
MOMO
$646M
| $3.4M | 2.71% |
+211,900
| New | +$2.94M |
2015 Q4
0 quarters
|
|
|
EJ
8
DELISTED
E HOUSE (CHINA) HOLDINGS LIMITED
EJ
| $2.93M | 2.35% |
466,343
| – | – |
2013 Q4
8 quarters
|
|
|
MR
9
DELISTED
MINDRAY MED INTL LTD SPONSORED ADR REPSTG CL A
MR
| $1.39M | 1.11% |
+51,100
| New | +$1.32M |
2015 Q4
0 quarters
|
|
|
10
Walt Disney
DIS
$194B
| $1.37M | 1.09% |
13,000
-13,200
| -50% | -$1.47M |
2015 Q3
1 quarter
|
|
|
SINA
11
DELISTED
Sina Corp
SINA
| $1.2M | 0.96% |
24,395
| – | – |
2015 Q2
2 quarters
|
|
12
Huazhu Hotels Group
HTHT
$14.6B
| $756K | 0.6% |
96,800
-162,588
| -63% | -$1.18M |
2015 Q3
1 quarter
|
|
13
JD.com
JD
$34.2B
| $726K | 0.58% |
+22,500
| New | +$663K |
2015 Q4
0 quarters
|
|
14
Alibaba
BABA
$248B
| $512K | 0.41% |
6,300
-4,100
| -39% | -$322K |
2015 Q3
1 quarter
|
|
15
Vipshop
VIPS
$5.96B
| $289K | 0.23% |
+18,900
| New | +$331K |
2015 Q4
0 quarters
|
|
16
Axos Financial
AX
$5.21B
| – | – |
-18,000
| Closed | -$580K | – |
|
|
17
NetEase
NTES
$75.9B
| – | – |
-1,335,525
| Closed | -$32.1M | – |
|
|
18
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| – | – |
-265,637
| Closed | -$4.4M | – |
|
|
JP
19
DELISTED
Jupai Holdings Limited American depositary shares, each representing six ordinary shares
JP
| – | – |
-75,000
| Closed | -$675K | – |
|
|
PNRA
20
DELISTED
Panera Bread Co
PNRA
| – | – |
-2,900
| Closed | -$561K | – |
|
|
HMIN
21
DELISTED
HOMEINNS HOTEL GROUP SPONSORED ADR
HMIN
| – | – |
-757,100
| Closed | -$21.8M | – |
|
|
QIHU
22
DELISTED
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
| – | – |
-72,800
| Closed | -$3.48M | – |
|
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Value Partners's Q4 2015 Portfolio in Review
As of Q4 2015, Value Partners held 22 positions worth $125M, down 3% from $129M the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Value Partners withdrew a net $21.6M in Q4 2015, closing 7 positions and reducing 3 holdings. Its most notable exit was NetEase, an estimated $32.1M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 65% of assets, up from 60% a quarter earlier, followed by Miscellaneous and Real Estate.
Against the trend, Value Partners opened a new position in Trip.com Group worth $10.2M.
- Value Partners's largest Q4 2015 buy was Trip.com Group: 220,300 shares worth $10.2M.
- Value Partners added most to Baidu in Q4 2015, an estimated $17.5M increase.
- Value Partners's biggest Q4 2015 reduction was Walt Disney, cutting an estimated $1.47M.
- Value Partners fully exited NetEase in Q4 2015, selling an estimated $32.1M.
- Value Partners's ten largest holdings make up 97% of its $125M portfolio in Q4 2015.
- Value Partners opened 6 new positions and closed 7 in Q4 2015.
- Value Partners's portfolio value fell 3% quarter-over-quarter to $125M.
Based on Value Partners's 13F filing for Q4 2015, filed 12 Feb 2016.