Tiger Pacific Capital LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Tiger Pacific Capital LP reported 14 stock positions worth $395.4 million. Its top holding was Tal Education Group- ADR (TAL) at 23.8% of the portfolio, followed by Sea Ltd.-ADR (SE, 20.7%) and New Oriental Educatio-SP ADR (EDU, 9.3%). Compared with Q2 2025, it opened 7 new positions, sold out of 1 and reduced 5. The biggest buy was a new position in Netease Inc.-ADR (NTES) and the biggest sale Tal Education Group- ADR (TAL, shares −9%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001664492
- Portfolio Value
- $395.4M (Q3 2025)
- SEC Filing
- 0001664492-25-000006 ↗ filed Nov 14, 2025
Holdings Value
Holdings 14 stocks · $395.4M
| TAL Tal Education Group- ADR | 23.76% | 8,386,598 | $93.9M | Reduce -9.2% |
| SE Sea Ltd.-ADR | 20.74% | 458,764 | $82.0M | Reduce -5.0% |
| EDU New Oriental Educatio-SP ADR | 9.34% | 695,532 | $36.9M | Reduce -1.4% |
| NTES Netease Inc.-ADR | 7.33% | 190,754 | $29.0M | New |
| PDD PDD Holdings Inc. | 6.26% | 187,323 | $24.8M | New |
| LU Lufax Holding Ltd.-ADR | 5.62% | 5,472,835 | $22.2M | Reduce -15.5% |
| NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD | 5.51% | 1,880,865 | $21.8M | No change |
| AS Amer Sports Inc. | 5.18% | 589,770 | $20.5M | Reduce -25.1% |
| JOYY Joyy Inc.-ADR | 4.46% | 300,694 | $17.6M | New |
| GRAB Grab Holdings Ltd. Class A | 3.29% | 2,163,100 | $13.0M | New |
| RERE Atrenew Inc. | 2.41% | 2,069,435 | $9.5M | No change |
| EH Ehang Holdings Ltd.-SPS ADR | 2.26% | 481,841 | $8.9M | New |
| TSM Taiwan Semiconductor-SP ADR | 2.24% | 31,650 | $8.8M | New |
| MNSO Miniso Group Holding Ltd.-ADR | 1.59% | 280,000 | $6.3M | New |
Portfolio Sells Q2 2025 → Q3 2025
| TAL Tal Education Group- ADR | Reduce -9.2% | 23.76% | −7.57 |
| AS Amer Sports Inc. | Reduce -25.1% | 5.18% | −4.95 |
| SE Sea Ltd.-ADR | Reduce -5.0% | 20.74% | −4.89 |
| QFIN Qfin Holdings Inc.-ADR | Sold out | 0.00% | −4.55 |
| EDU New Oriental Educatio-SP ADR | Reduce -1.4% | 9.34% | −3.30 |
| LU Lufax Holding Ltd.-ADR | Reduce -15.5% | 5.62% | −0.38 |
Portfolio Buys Q2 2025 → Q3 2025
| NTES Netease Inc.-ADR | New | 7.33% | +7.33 |
| PDD PDD Holdings Inc. | New | 6.26% | +6.26 |
| JOYY Joyy Inc.-ADR | New | 4.46% | +4.46 |
| GRAB Grab Holdings Ltd. Class A | New | 3.29% | +3.29 |
| EH Ehang Holdings Ltd.-SPS ADR | New | 2.26% | +2.26 |
| TSM Taiwan Semiconductor-SP ADR | New | 2.24% | +2.24 |
| MNSO Miniso Group Holding Ltd.-ADR | New | 1.59% | +1.59 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 9 | $215.4M | TAL, CPNG, VNET, NOAH, QFIN |
| Q1 2026 | 9 | $214.4M | TAL, CPNG, PDD, NOAH, QFIN |
| Q4 2025 | 10 | $373.8M | SE, TAL, MMYT, TSM, EDU |
| Q3 2025 | 14 | $395.4M | TAL, SE, EDU, NTES, PDD |
| Q2 2025 | 8 | $301.3M | TAL, SE, EDU, AS, NOAH |
| Q1 2025 | 10 | $277.6M | TAL, QFIN, SE, JOYY, LU |
| Q4 2024 | 14 | $374.0M | TAL, TSM, QFIN, JOYY, NOAH |
| Q3 2024 | 15 | $490.5M | TAL, ZTO, TSM, PDD, QFIN |
| Q2 2024 | 12 | $346.9M | TAL, TSM, ZTO, QFIN, GOTU |
| Q1 2024 | 13 | $430.6M | ZTO, TAL, TSM, QFIN, GOTU |