Green Court Capital Management Ltd

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Green Court Capital Management Ltd reported 4 stock positions worth $219.9 million. Its top holding was PDD (PDD) at 63.8% of the portfolio, followed by Trip.com Group Ltd.-ADR (TCOM, 14.6%) and Tencent Music Entertainm-ADR (TME, 11.0%). Compared with Q2 2025, it added to 3 and reduced 1. The biggest buy was PDD (PDD, shares +42%) and the biggest sale New Oriental Educatio-SP ADR (EDU, shares −49%).

Most Recent 13F
Q2 2026
Location
HONG KONG, K3
CIK
0001710785
Portfolio Value
$219.9M (Q3 2025)
SEC Filing
0001710785-25-000011 ↗ filed Nov 6, 2025

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $250.7M Q1 2024 Q2 2024: $154.3M Q2 2024 Q3 2024: $274.7M Q3 2024 Q4 2024: $151.3M Q4 2024 Q1 2025: $169.5M Q1 2025 Q2 2025: $151.2M Q2 2025 Q3 2025: $219.9M $219.9M Q3 2025 Q4 2025: $260.1M Q4 2025 Q1 2026: $108.1M Q1 2026 Q2 2026: $117.0M Q2 2026

Holdings 4 stocks · $219.9M
PDD PDD Holdings Inc. 63.76% 1,060,800 $140.2M Add +42.3%
TCOM Trip.com Group Ltd.-ADR 14.57% 426,108 $32.0M Add +62.2%
TME Tencent Music Entertainm-ADR 11.03% 1,039,078 $24.3M Add +93.1%
EDU New Oriental Educatio-SP ADR 10.63% 440,565 $23.4M Reduce -49.3%

Portfolio Sells Q2 2025 → Q3 2025
EDU New Oriental Educatio-SP ADR Reduce -49.3% 10.63% −20.27

Portfolio Buys Q2 2025 → Q3 2025
PDD PDD Holdings Inc. Add +42.3% 63.76% +11.76
TCOM Trip.com Group Ltd.-ADR Add +62.2% 14.57% +4.33
TME Tencent Music Entertainm-ADR Add +93.1% 11.03% +4.18

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 3$117.0MPDD, ATAT, TCOM
Q1 2026 5$108.1MPDD, TCOM, EDU, TME, ATAT
Q4 2025 4$260.1MTME, PDD, TCOM, EDU
Q3 2025 4$219.9MPDD, TCOM, TME, EDU
Q2 2025 4$151.2MPDD, EDU, TCOM, TME
Q1 2025 3$169.5MZTO, TCOM, EDU
Q4 2024 3$151.3MZTO, TCOM, EDU
Q3 2024 2$274.7MZTO, TCOM
Q2 2024 2$154.3MTCOM, ZTO
Q1 2024 2$250.7MTCOM, ZTO