Greenwoods Asset Management Hong Kong Ltd.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Greenwoods Asset Management Hong Kong Ltd. reported 28 stock positions worth $2.9 billion. Its top holding was Meta Platforms Class A (META) at 25.5% of the portfolio, followed by Netease Inc.-ADR (NTES, 16.3%) and Full Truck Alliance -SPN ADR (YMM, 11.8%). Compared with Q1 2025, it opened 3 new positions, sold out of 6, added to 7 and reduced 13. The biggest buy was Meta Platforms Class A (META, shares +2%) and the biggest sale Taiwan Semiconductor-SP ADR (TSM, shares −92%).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001848138
- Portfolio Value
- $2.9B (Q2 2025)
- SEC Filing
- 0001848138-25-000008 ↗ filed Aug 8, 2025
Holdings Value
Holdings 28 stocks · $2.9B
| META Meta Platforms Inc. Class A | 25.46% | 991,342 | $731.7M | Add +2.3% |
| NTES Netease Inc.-ADR | 16.33% | 3,486,000 | $469.1M | Reduce -2.5% |
| YMM Full Truck Alliance -SPN ADR | 11.83% | 28,794,527 | $340.1M | Add +10.8% |
| PDD PDD Holdings Inc. | 11.73% | 3,219,839 | $337.0M | Reduce -30.5% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 6.59% | 1,531,389 | $189.3M | Reduce -19.5% |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 4.97% | 3,295,438 | $142.9M | Add +22.6% |
| NVDA Nvidia Corp. | 3.47% | 630,440 | $99.6M | New |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 2.86% | 4,640,706 | $82.3M | Reduce -2.8% |
| EDU New Oriental Educatio-SP ADR | 2.49% | 1,328,218 | $71.7M | Reduce -4.9% |
| NBIS Nebius Group NV | 2.46% | 1,276,303 | $70.6M | Reduce -42.5% |
| BABA Alibaba Group Holding-SP ADR | 1.84% | 465,000 | $52.7M | Reduce -22.6% |
| INTC Intel Corp. | 1.59% | 2,035,073 | $45.6M | Reduce -6.7% |
| DQ Daqo New Energy Corp.-ADR | 1.41% | 2,672,161 | $40.5M | No change |
| GOOGL Alphabet Inc. Class A | 1.13% | 184,942 | $32.6M | Add +302.1% |
| TSM Taiwan Semiconductor-SP ADR | 1.03% | 131,264 | $29.7M | Reduce -91.7% |
| SE Sea Ltd.-ADR | 1.00% | 179,759 | $28.8M | Add +98.1% |
| TAL Tal Education Group- ADR | 0.95% | 2,671,361 | $27.3M | Add +9.1% |
| TCOM Trip.com Group Ltd.-ADR | 0.77% | 377,500 | $22.1M | Reduce -1.6% |
| JKS Jinkosolar Holding Co.-ADR | 0.58% | 780,933 | $16.6M | No change |
| MSFT Microsoft Corp. | 0.50% | 28,650 | $14.3M | No change |
| ATAT Atour Lifestyle Holdings-ADR | 0.24% | 210,700 | $6.8M | New |
| HTHT H World Group Ltd.-ADR | 0.21% | 176,800 | $6.0M | New |
| HDL Super Hi International Holdi | 0.18% | 268,341 | $5.2M | No change |
| ONC Beone Medicines Ltd.-ADR | 0.13% | 15,502 | $3.8M | Add +66.2% |
| CSIQ Canadian Solar Inc. | 0.13% | 335,183 | $3.7M | Reduce -70.0% |
| RERE Atrenew Inc. | 0.06% | 525,000 | $1.7M | No change |
| FWONK Liberty Media Corp. Class C | 0.04% | 9,680 | $1.0M | Reduce -92.1% |
| HSAI Hesai Group | 0.03% | 40,291 | $884K | Reduce -94.6% |
Portfolio Sells Q1 2025 → Q2 2025
| TSM Taiwan Semiconductor-SP ADR | Reduce -91.7% | 1.03% | −7.06 |
| AAPL Apple Inc. | Sold out | 0.00% | −5.38 |
| PDD PDD Holdings Inc. | Reduce -30.5% | 11.73% | −5.27 |
| ZTO Zto Express Cayman Inc.-ADR | Sold out | 0.00% | −4.03 |
| BABA Alibaba Group Holding-SP ADR | Reduce -22.6% | 1.84% | −0.63 |
| HSAI Hesai Group | Reduce -94.6% | 0.03% | −0.31 |
| FWONK Liberty Media Corp. Class C | Reduce -92.1% | 0.04% | −0.31 |
| CSIQ Canadian Solar Inc. | Reduce -70.0% | 0.13% | −0.17 |
| BEKE Ke Holdings Inc.-ADR | Reduce -2.8% | 2.86% | −0.10 |
| LEGN Legend Biotech Corp.-ADR | Sold out | 0.00% | −0.09 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.09 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.07 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.06 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -1.6% | 0.77% | +0.01 |
| INTC Intel Corp. | Reduce -6.7% | 1.59% | +0.05 |
| EDU New Oriental Educatio-SP ADR | Reduce -4.9% | 2.49% | +0.43 |
| FUTU Futu Holdings Ltd.-ADR | Reduce -19.5% | 6.59% | +0.56 |
| NBIS Nebius Group NV | Reduce -42.5% | 2.46% | +1.01 |
| NTES Netease Inc.-ADR | Reduce -2.5% | 16.33% | +4.93 |
Portfolio Buys Q1 2025 → Q2 2025
| META Meta Platforms Inc. Class A | Add +2.3% | 25.46% | +8.16 |
| NVDA Nvidia Corp. | New | 3.47% | +3.47 |
| YMM Full Truck Alliance -SPN ADR | Add +10.8% | 11.83% | +1.55 |
| QFIN Qfin Holdings Inc.-ADR | Add +22.6% | 4.97% | +1.23 |
| GOOGL Alphabet Inc. Class A | Add +302.1% | 1.13% | +0.91 |
| SE Sea Ltd.-ADR | Add +98.1% | 1.00% | +0.63 |
| ATAT Atour Lifestyle Holdings-ADR | New | 0.24% | +0.24 |
| HTHT H World Group Ltd.-ADR | New | 0.21% | +0.21 |
| ONC Beone Medicines Ltd.-ADR | Add +66.2% | 0.13% | +0.05 |
| TAL Tal Education Group- ADR | Add +9.1% | 0.95% | −0.05 |
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 |