Greenwoods Asset Management Hong Kong Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Greenwoods Asset Management Hong Kong Ltd. reported 30 stock positions worth $4.4 billion. Its top holding was Meta Platforms Class A (META) at 20.3% of the portfolio, followed by Netease Inc.-ADR (NTES, 11.0%) and Nvidia (NVDA, 10.0%). Compared with Q2 2025, it opened 9 new positions, sold out of 7, added to 8 and reduced 6. The biggest buy was Alphabet Class A (GOOGL, shares +852%) and the biggest sale Netease Inc.-ADR (NTES, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001848138
- Portfolio Value
- $4.4B (Q3 2025)
- SEC Filing
- 0001848138-25-000012 ↗ filed Nov 10, 2025
Holdings Value
Holdings 30 stocks · $4.4B
| META Meta Platforms Inc. Class A | 20.27% | 1,225,964 | $900.3M | Add +23.7% |
| NTES Netease Inc.-ADR | 10.99% | 3,212,200 | $488.2M | Reduce -7.8% |
| NVDA Nvidia Corp. | 9.99% | 2,378,757 | $443.8M | Add +277.3% |
| PDD PDD Holdings Inc. | 9.99% | 3,356,964 | $443.7M | Add +4.3% |
| GOOGL Alphabet Inc. Class A | 9.64% | 1,760,320 | $427.9M | Add +851.8% |
| YMM Full Truck Alliance -SPN ADR | 8.35% | 28,597,879 | $370.9M | Reduce -0.7% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 3.90% | 996,348 | $173.3M | Reduce -34.9% |
| BABA Alibaba Group Holding-SP ADR | 3.39% | 843,409 | $150.7M | Add +81.4% |
| NBIS Nebius Group NV | 3.23% | 1,276,303 | $143.3M | No change |
| QFIN Qfin Holdings Inc.-ADR | 2.14% | 3,295,438 | $94.8M | No change |
| ATAT Atour Lifestyle Holdings-ADR | 1.94% | 2,290,136 | $86.1M | Add +986.9% |
| SNPS Synopsys Inc. | 1.84% | 165,459 | $81.6M | New |
| SE Sea Ltd.-ADR | 1.65% | 411,144 | $73.5M | Add +128.7% |
| EDU New Oriental Educatio-SP ADR | 1.59% | 1,328,218 | $70.5M | No change |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 1.57% | 3,676,995 | $69.9M | Reduce -20.8% |
| INTC Intel Corp. | 1.43% | 1,896,037 | $63.6M | Reduce -6.8% |
| UNH Unitedhealth Group Inc. | 1.30% | 167,432 | $57.8M | New |
| XBI SS SPDR S&P Biotech ETF | 1.25% | 555,015 | $55.6M | New |
| AAPL Apple Inc. | 1.22% | 213,104 | $54.3M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.83% | 131,264 | $36.7M | No change |
| TAL Tal Education Group- ADR | 0.66% | 2,597,180 | $29.1M | Reduce -2.8% |
| WRD Weride Inc.-ADR | 0.60% | 2,684,200 | $26.6M | New |
| MMYT Makemytrip Ltd. | 0.54% | 256,900 | $24.0M | New |
| UBER Uber Technologies Inc. | 0.54% | 244,670 | $24.0M | New |
| JKS Jinkosolar Holding Co.-ADR | 0.42% | 780,933 | $18.8M | No change |
| HTHT H World Group Ltd.-ADR | 0.32% | 360,000 | $14.1M | Add +103.6% |
| SPOT Spotify Technology SA | 0.21% | 13,226 | $9.2M | New |
| HDL Super Hi International Holdi | 0.11% | 268,341 | $5.0M | No change |
| RERE Atrenew Inc. | 0.05% | 525,000 | $2.4M | No change |
| GOOG Alphabet Inc. Class C | 0.02% | 3,596 | $876K | New |
Portfolio Sells Q2 2025 → Q3 2025
| NTES Netease Inc.-ADR | Reduce -7.8% | 10.99% | −5.33 |
| YMM Full Truck Alliance -SPN ADR | Reduce -0.7% | 8.35% | −3.48 |
| FUTU Futu Holdings Ltd.-ADR | Reduce -34.9% | 3.90% | −2.68 |
| DQ Daqo New Energy Corp.-ADR | Sold out | 0.00% | −1.41 |
| BEKE Ke Holdings Inc.-ADR | Reduce -20.8% | 1.57% | −1.29 |
| TCOM Trip.com Group Ltd.-ADR | Sold out | 0.00% | −0.77 |
| MSFT Microsoft Corp. | Sold out | 0.00% | −0.50 |
| TAL Tal Education Group- ADR | Reduce -2.8% | 0.66% | −0.29 |
| INTC Intel Corp. | Reduce -6.8% | 1.43% | −0.15 |
| ONC Beone Medicines Ltd.-ADR | Sold out | 0.00% | −0.13 |
| CSIQ Canadian Solar Inc. | Sold out | 0.00% | −0.13 |
| FWONK Liberty Media Corp. Class C | Sold out | 0.00% | −0.04 |
| HSAI Hesai Group | Sold out | 0.00% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| GOOGL Alphabet Inc. Class A | Add +851.8% | 9.64% | +8.50 |
| NVDA Nvidia Corp. | Add +277.3% | 9.99% | +6.53 |
| SNPS Synopsys Inc. | New | 1.84% | +1.84 |
| ATAT Atour Lifestyle Holdings-ADR | Add +986.9% | 1.94% | +1.70 |
| BABA Alibaba Group Holding-SP ADR | Add +81.4% | 3.39% | +1.56 |
| UNH Unitedhealth Group Inc. | New | 1.30% | +1.30 |
| XBI SS SPDR S&P Biotech ETF | New | 1.25% | +1.25 |
| AAPL Apple Inc. | New | 1.22% | +1.22 |
| SE Sea Ltd.-ADR | Add +128.7% | 1.65% | +0.65 |
| WRD Weride Inc.-ADR | New | 0.60% | +0.60 |
| MMYT Makemytrip Ltd. | New | 0.54% | +0.54 |
| UBER Uber Technologies Inc. | New | 0.54% | +0.54 |
| SPOT Spotify Technology SA | New | 0.21% | +0.21 |
| HTHT H World Group Ltd.-ADR | Add +103.6% | 0.32% | +0.11 |
| GOOG Alphabet Inc. Class C | New | 0.02% | +0.02 |
| PDD PDD Holdings Inc. | Add +4.3% | 9.99% | −1.74 |
| META Meta Platforms Inc. Class A | Add +23.7% | 20.27% | −5.19 |
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 |