Green Court Capital Management Ltd

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), Green Court Capital Management Ltd reported 4 stock positions worth $260.1 million. Its top holding was Tencent Music Entertainm-ADR (TME) at 41.8% of the portfolio, followed by PDD (PDD, 38.2%) and Trip.com Group Ltd.-ADR (TCOM, 11.5%). Compared with Q3 2025, it added to 1 and reduced 2. The biggest buy was Tencent Music Entertainm-ADR (TME, shares +467%) and the biggest sale PDD (PDD, shares −19%).

Most Recent 13F
Q2 2026
Location
HONG KONG, K3
CIK
0001710785
Portfolio Value
$260.1M (Q4 2025)
SEC Filing
0001710785-26-000002 ↗ filed Feb 10, 2026

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 Q3 2025 Q4 2025: $260.1M $260.1M Q4 2025 Q1 2026: $108.1M Q1 2026 Q2 2026: $117.0M Q2 2026

Holdings 4 stocks · $260.1M
TME Tencent Music Entertainm-ADR 41.81% 5,893,162 $108.7M Add +467.1%
PDD PDD Holdings Inc. 38.25% 856,958 $99.5M Reduce -19.2%
TCOM Trip.com Group Ltd.-ADR 11.46% 426,108 $29.8M No change
EDU New Oriental Educatio-SP ADR 8.49% 431,720 $22.1M Reduce -2.0%

Portfolio Sells Q3 2025 → Q4 2025
PDD PDD Holdings Inc. Reduce -19.2% 38.25% −25.52
EDU New Oriental Educatio-SP ADR Reduce -2.0% 8.49% −2.14

Portfolio Buys Q3 2025 → Q4 2025
TME Tencent Music Entertainm-ADR Add +467.1% 41.81% +30.78

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