Primavera Capital Management Ltd

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 13, 2026), Primavera Capital Management Ltd reported 5 stock positions worth $565.1 million. Its top holding was Yum China (YUMC) at 87.0% of the portfolio, followed by Xpeng Inc. - ADR (XPEV, 7.7%) and DSC Holdings Ltd./China (DSC, 3.7%). Compared with Q1 2026, it opened 2 new positions. The biggest buy was a new position in DSC Holdings Ltd./China (DSC).

Most Recent 13F
Q2 2026
Location
GRAND CAYMAN, E9
CIK
0001686305
Portfolio Value
$565.1M (Q2 2026)
SEC Filing
0000945621-26-001040 ↗ filed Aug 13, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $136.4M Q1 2024 Q2 2024: $517.6M Q2 2024 Q3 2024: $591.3M Q3 2024 Q4 2024: $641.5M Q4 2024 Q1 2025: $714.6M Q1 2025 Q2 2025: $622.2M Q2 2025 Q3 2025: $615.9M Q3 2025 Q4 2025: $657.1M Q4 2025 Q1 2026: $647.9M Q1 2026 Q2 2026: $565.1M $565.1M Q2 2026

Holdings 5 stocks · $565.1M
YUMC Yum China Holdings Inc. 87.05% 12,035,635 $491.9M No change
XPEV Xpeng Inc. - ADR 7.75% 3,306,567 $43.8M No change
DSC DSC Holdings Ltd./China 3.68% 3,770,332 $20.8M New
STG Sunlands Technology- SP ADR 1.15% 1,652,778 $6.5M New
CANG Cango Inc./KY - ADR 0.37% 10,308,662 $2.1M No change

Portfolio Sells Q1 2026 → Q2 2026
None this quarter.

Portfolio Buys Q1 2026 → Q2 2026
DSC DSC Holdings Ltd./China New 3.68% +3.68
STG Sunlands Technology- SP ADR New 1.15% +1.15

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 5$565.1MYUMC, XPEV, DSC, STG, CANG
Q1 2026 3$647.9MYUMC, XPEV, CANG
Q4 2025 3$657.1MYUMC, XPEV, CANG
Q3 2025 3$615.9MYUMC, XPEV, CANG
Q2 2025 3$622.2MYUMC, XPEV, CANG
Q1 2025 3$714.6MYUMC, XPEV, CANG
Q4 2024 3$641.5MYUMC, XPEV, CANG
Q3 2024 3$591.3MYUMC, XPEV, CANG
Q2 2024 4$517.6MYUMC, PLTR, XPEV, CANG
Q1 2024 3$136.4MPLTR, XPEV, CANG