Greenwoods Asset Management Hong Kong Ltd.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 6, 2026), Greenwoods Asset Management Hong Kong Ltd. reported 28 stock positions worth $4.0 billion. Its top holding was Alphabet Class A (GOOGL) at 20.8% of the portfolio, followed by Meta Platforms Class A (META, 16.3%) and PDD (PDD, 11.1%). Compared with Q3 2025, it opened 1 new position, sold out of 3, added to 5 and reduced 10. The biggest buy was Alphabet Class A (GOOGL, shares +53%) and the biggest sale Nvidia (NVDA, shares −65%).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001848138
- Portfolio Value
- $4.0B (Q4 2025)
- SEC Filing
- 0001848138-26-000006 ↗ filed Feb 6, 2026
Holdings Value
Holdings 28 stocks · $4.0B
| GOOGL Alphabet Inc. Class A | 20.82% | 2,690,000 | $842.0M | Add +52.8% |
| META Meta Platforms Inc. Class A | 16.27% | 996,908 | $658.0M | Reduce -18.7% |
| PDD PDD Holdings Inc. | 11.12% | 3,968,270 | $450.0M | Add +18.2% |
| NTES Netease Inc.-ADR | 10.93% | 3,212,200 | $442.1M | No change |
| YMM Full Truck Alliance -SPN ADR | 7.59% | 28,597,879 | $306.9M | No change |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 4.61% | 1,135,821 | $186.5M | Add +14.0% |
| NVDA Nvidia Corp. | 3.86% | 837,907 | $156.3M | Reduce -64.8% |
| BABA Alibaba Group Holding-SP ADR | 3.06% | 843,409 | $123.6M | No change |
| INTC Intel Corp. | 2.36% | 2,590,400 | $95.6M | Add +36.6% |
| ATAT Atour Lifestyle Holdings-ADR | 2.23% | 2,290,136 | $90.2M | No change |
| AVGO Broadcom Inc. | 2.10% | 245,800 | $85.1M | New |
| SNPS Synopsys Inc. | 1.90% | 163,661 | $76.9M | Reduce -1.1% |
| EDU New Oriental Educatio-SP ADR | 1.81% | 1,328,218 | $73.1M | No change |
| QFIN Qfin Holdings Inc.-ADR | 1.57% | 3,295,438 | $63.5M | No change |
| AAPL Apple Inc. | 1.43% | 213,104 | $57.9M | No change |
| NBIS Nebius Group NV | 1.32% | 638,103 | $53.4M | Reduce -50.0% |
| UNH Unitedhealth Group Inc. | 1.06% | 130,310 | $43.0M | Reduce -22.2% |
| SE Sea Ltd.-ADR | 1.02% | 324,147 | $41.4M | Reduce -21.2% |
| HTHT H World Group Ltd.-ADR | 0.98% | 842,822 | $39.7M | Add +134.1% |
| TAL Tal Education Group- ADR | 0.70% | 2,597,180 | $28.3M | No change |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 0.70% | 1,793,195 | $28.3M | Reduce -51.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.67% | 89,826 | $27.3M | Reduce -31.6% |
| MMYT Makemytrip Ltd. | 0.52% | 256,900 | $21.1M | No change |
| JKS Jinkosolar Holding Co.-ADR | 0.50% | 780,933 | $20.2M | No change |
| WRD Weride Inc.-ADR | 0.47% | 2,201,800 | $19.1M | Reduce -18.0% |
| XBI SS SPDR S&P Biotech ETF | 0.21% | 68,265 | $8.3M | Reduce -87.7% |
| HDL Super Hi International Holdi | 0.11% | 268,341 | $4.3M | No change |
| RERE Atrenew Inc. | 0.07% | 525,000 | $2.8M | No change |
Portfolio Sells Q3 2025 → Q4 2025
| NVDA Nvidia Corp. | Reduce -64.8% | 3.86% | −6.13 |
| META Meta Platforms Inc. Class A | Reduce -18.7% | 16.27% | −4.01 |
| NBIS Nebius Group NV | Reduce -50.0% | 1.32% | −1.91 |
| XBI SS SPDR S&P Biotech ETF | Reduce -87.7% | 0.21% | −1.05 |
| BEKE Ke Holdings Inc.-ADR | Reduce -51.2% | 0.70% | −0.87 |
| SE Sea Ltd.-ADR | Reduce -21.2% | 1.02% | −0.63 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −0.54 |
| UNH Unitedhealth Group Inc. | Reduce -22.2% | 1.06% | −0.24 |
| SPOT Spotify Technology SA | Sold out | 0.00% | −0.21 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -31.6% | 0.67% | −0.15 |
| WRD Weride Inc.-ADR | Reduce -18.0% | 0.47% | −0.13 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −0.02 |
| SNPS Synopsys Inc. | Reduce -1.1% | 1.90% | +0.06 |
Portfolio Buys Q3 2025 → Q4 2025
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 |