Greenwoods Asset Management Hong Kong Ltd.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 7, 2025), Greenwoods Asset Management Hong Kong Ltd. reported 36 stock positions worth $3.2 billion. Its top holding was Meta Platforms Class A (META) at 16.3% of the portfolio, followed by PDD (PDD, 14.2%) and Netease Inc.-ADR (NTES, 10.2%). Compared with Q3 2024, it opened 6 new positions, sold out of 5, added to 11 and reduced 10. The biggest buy was a new position in Nebius (NBIS) and the biggest sale Futu Holdings Ltd.-ADR (FUTU, shares −32%).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001848138
- Portfolio Value
- $3.2B (Q4 2024)
- SEC Filing
- 0001848138-25-000002 ↗ filed Feb 7, 2025
Holdings Value
Holdings 36 stocks · $3.2B
| META Meta Platforms Inc. Class A | 16.26% | 878,964 | $514.6M | Add +1.8% |
| PDD PDD Holdings Inc. | 14.20% | 4,635,519 | $449.6M | Add +2.6% |
| NTES Netease Inc.-ADR | 10.24% | 3,632,870 | $324.1M | Add +10.8% |
| YMM Full Truck Alliance -SPN ADR | 8.89% | 26,019,803 | $281.5M | Add +7.4% |
| TSM Taiwan Semiconductor-SP ADR | 7.77% | 1,244,950 | $245.9M | Reduce -27.7% |
| AAPL Apple Inc. | 5.89% | 744,308 | $186.4M | Reduce -1.6% |
| DASH DoorDash Inc. Class A | 5.47% | 1,032,907 | $173.3M | No change |
| ZTO Zto Express Cayman Inc.-ADR | 4.09% | 6,617,077 | $129.4M | Add +10.6% |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 3.26% | 2,688,992 | $103.2M | Reduce -21.3% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 3.24% | 1,282,934 | $102.6M | Reduce -31.9% |
| GOOGL Alphabet Inc. Class A | 3.00% | 501,299 | $94.9M | Add +953.0% |
| NBIS Nebius Group NV | 2.77% | 3,159,776 | $87.5M | New |
| EDU New Oriental Educatio-SP ADR | 2.49% | 1,228,318 | $78.8M | Reduce -32.2% |
| MSFT Microsoft Corp. | 2.37% | 177,933 | $75.0M | Add +51.6% |
| DQ Daqo New Energy Corp.-ADR | 1.67% | 2,714,780 | $52.8M | Add +5286.6% |
| FWONK Liberty Media Corp. Class C | 1.17% | 398,593 | $36.9M | New |
| V Visa Inc. Class A | 1.15% | 115,000 | $36.3M | No change |
| TAL Tal Education Group- ADR | 1.05% | 3,320,955 | $33.3M | No change |
| SE Sea Ltd.-ADR | 0.71% | 212,569 | $22.6M | Add +145.7% |
| AS Amer Sports Inc. | 0.68% | 772,805 | $21.6M | New |
| UBER Uber Technologies Inc. | 0.46% | 238,979 | $14.4M | Reduce -30.5% |
| JKS Jinkosolar Holding Co.-ADR | 0.45% | 569,933 | $14.2M | No change |
| TCOM Trip.com Group Ltd.-ADR | 0.38% | 175,236 | $12.0M | Reduce -24.3% |
| PBR Petroleo Brasileiro-Spon ADR | 0.32% | 789,700 | $10.2M | No change |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 0.32% | 543,800 | $10.0M | Reduce -43.4% |
| HDL Super Hi International Holdi | 0.25% | 275,300 | $7.9M | No change |
| CSIQ Canadian Solar Inc. | 0.24% | 695,861 | $7.7M | New |
| UNH Unitedhealth Group Inc. | 0.23% | 14,165 | $7.2M | Add +1.3% |
| AMZN Amazon.com Inc. | 0.22% | 32,064 | $7.0M | New |
| ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD | 0.18% | 30,658 | $5.7M | No change |
| TME Tencent Music Entertainm-ADR | 0.17% | 484,586 | $5.5M | Reduce -83.7% |
| NVDA Nvidia Corp. | 0.16% | 37,776 | $5.1M | Add +21.4% |
| REGN Regeneron Pharmaceuticals | 0.08% | 3,450 | $2.5M | New |
| LEGN Legend Biotech Corp.-ADR | 0.07% | 66,109 | $2.2M | No change |
| PFE Pfizer Inc. | 0.06% | 74,200 | $2.0M | Reduce -19.9% |
| RERE Atrenew Inc. | 0.05% | 525,000 | $1.5M | No change |
Portfolio Sells Q3 2024 → Q4 2024
| FUTU Futu Holdings Ltd.-ADR | Reduce -31.9% | 3.24% | −2.48 |
| EDU New Oriental Educatio-SP ADR | Reduce -32.2% | 2.49% | −1.87 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -27.7% | 7.77% | −1.73 |
| TME Tencent Music Entertainm-ADR | Reduce -83.7% | 0.17% | −0.96 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.83 |
| UBER Uber Technologies Inc. | Reduce -30.5% | 0.46% | −0.36 |
| BEKE Ke Holdings Inc.-ADR | Reduce -43.4% | 0.32% | −0.29 |
| XBI SS SPDR S&P Biotech ETF | Sold out | 0.00% | −0.22 |
| ABNB Airbnb Inc. Class A | Sold out | 0.00% | −0.21 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -24.3% | 0.38% | −0.06 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.03 |
| PFE Pfizer Inc. | Reduce -19.9% | 0.06% | −0.02 |
| MU Micron Technology Inc. | Sold out | 0.00% | −0.02 |
| QFIN Qfin Holdings Inc.-ADR | Reduce -21.3% | 3.26% | +0.03 |
| AAPL Apple Inc. | Reduce -1.6% | 5.89% | +0.29 |
Portfolio Buys Q3 2024 → Q4 2024
| NBIS Nebius Group NV | New | 2.77% | +2.77 |
| GOOGL Alphabet Inc. Class A | Add +953.0% | 3.00% | +2.75 |
| YMM Full Truck Alliance -SPN ADR | Add +7.4% | 8.89% | +1.97 |
| DQ Daqo New Energy Corp.-ADR | Add +5286.6% | 1.67% | +1.63 |
| FWONK Liberty Media Corp. Class C | New | 1.17% | +1.17 |
| MSFT Microsoft Corp. | Add +51.6% | 2.37% | +0.77 |
| AS Amer Sports Inc. | New | 0.68% | +0.68 |
| META Meta Platforms Inc. Class A | Add +1.8% | 16.26% | +0.57 |
| NTES Netease Inc.-ADR | Add +10.8% | 10.24% | +0.51 |
| SE Sea Ltd.-ADR | Add +145.7% | 0.71% | +0.45 |
| CSIQ Canadian Solar Inc. | New | 0.24% | +0.24 |
| AMZN Amazon.com Inc. | New | 0.22% | +0.22 |
| REGN Regeneron Pharmaceuticals | New | 0.08% | +0.08 |
| NVDA Nvidia Corp. | Add +21.4% | 0.16% | +0.04 |
| UNH Unitedhealth Group Inc. | Add +1.3% | 0.23% | −0.03 |
| ZTO Zto Express Cayman Inc.-ADR | Add +10.6% | 4.09% | −0.62 |
| PDD PDD Holdings Inc. | Add +2.6% | 14.20% | −5.13 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 21 | $2.2B | GOOGL, INTC, PDD, YMM, FUTU |
| Q1 2026 | 25 | $3.9B | GOOGL, PDD, NTES, YMM, META |
| Q4 2025 | 28 | $4.0B | GOOGL, META, PDD, NTES, YMM |
| Q3 2025 | 30 | $4.4B | META, NTES, NVDA, PDD, GOOGL |
| Q2 2025 | 28 | $2.9B | META, NTES, YMM, PDD, FUTU |
| Q1 2025 | 31 | $3.2B | META, PDD, NTES, YMM, TSM |
| Q4 2024 | 36 | $3.2B | META, PDD, NTES, YMM, TSM |
| Q3 2024 | 35 | $3.2B | PDD, META, NTES, TSM, YMM |
| Q2 2024 | 41 | $3.8B | PDD, META, TSM, MSFT, NTES |
| Q1 2024 | 39 | $3.2B | META, PDD, MSFT, NTES, DASH |