Tiger Pacific Capital LP

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Tiger Pacific Capital LP reported 9 stock positions worth $214.4 million. Its top holding was Tal Education Group- ADR (TAL) at 42.3% of the portfolio, followed by Coupang (CPNG, 16.8%) and PDD (PDD, 12.9%). Compared with Q4 2025, it opened 4 new positions, sold out of 5, added to 1 and reduced 1. The biggest buy was a new position in PDD (PDD) and the biggest sale an exit from Sea Ltd.-ADR (SE).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001664492
Portfolio Value
$214.4M (Q1 2026)
SEC Filing
0001664492-26-000005 ↗ filed May 15, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $430.6M Q1 2024 Q2 2024: $346.9M Q2 2024 Q3 2024: $490.5M Q3 2024 Q4 2024: $374.0M Q4 2024 Q1 2025: $277.6M Q1 2025 Q2 2025: $301.3M Q2 2025 Q3 2025: $395.4M Q3 2025 Q4 2025: $373.8M Q4 2025 Q1 2026: $214.4M $214.4M Q1 2026 Q2 2026: $215.4M Q2 2026

Holdings 9 stocks · $214.4M
TAL Tal Education Group- ADR filed as TAL ED GROUP 42.30% 7,977,772 $90.7M No change
CPNG Coupang Inc. 16.78% 1,905,440 $36.0M Add +139.0%
PDD PDD Holdings Inc. 12.94% 271,524 $27.7M New
NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD 8.68% 1,880,865 $18.6M No change
QFIN Qfin Holdings Inc.-ADR 5.75% 954,921 $12.3M New
RERE Atrenew Inc. 4.53% 2,069,435 $9.7M No change
MOMO Hello Group Inc. -SPN ADR 3.14% 1,169,394 $6.7M New
VNET Vnet Group Inc.-ADR 3.00% 766,225 $6.4M New
MMYT Makemytrip Ltd. 2.89% 166,051 $6.2M Reduce -66.7%

Options reported separately and not counted above: SPY puts ($195.1M).

Portfolio Sells Q4 2025 → Q1 2026
SE Sea Ltd.-ADR Sold out 0.00% −28.27
MMYT Makemytrip Ltd. Reduce -66.7% 2.89% −8.05
TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −7.50
EDU New Oriental Educatio-SP ADR Sold out 0.00% −6.31
GDS GDS Holdings Ltd. - ADR Sold out 0.00% −5.59
JOYY Joyy Inc.-ADR Sold out 0.00% −5.10

Portfolio Buys Q4 2025 → Q1 2026
PDD PDD Holdings Inc. New 12.94% +12.94
CPNG Coupang Inc. Add +139.0% 16.78% +11.75
QFIN Qfin Holdings Inc.-ADR New 5.75% +5.75
MOMO Hello Group Inc. -SPN ADR New 3.14% +3.14
VNET Vnet Group Inc.-ADR New 3.00% +3.00

Options Activity Q4 2025 → Q1 2026
SPY SS SPDR S&P 500 ETF Trust-US put New 300,000 $195.1M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 9$215.4MTAL, CPNG, VNET, NOAH, QFIN
Q1 2026 9$214.4MTAL, CPNG, PDD, NOAH, QFIN
Q4 2025 10$373.8MSE, TAL, MMYT, TSM, EDU
Q3 2025 14$395.4MTAL, SE, EDU, NTES, PDD
Q2 2025 8$301.3MTAL, SE, EDU, AS, NOAH
Q1 2025 10$277.6MTAL, QFIN, SE, JOYY, LU
Q4 2024 14$374.0MTAL, TSM, QFIN, JOYY, NOAH
Q3 2024 15$490.5MTAL, ZTO, TSM, PDD, QFIN
Q2 2024 12$346.9MTAL, TSM, ZTO, QFIN, GOTU
Q1 2024 13$430.6MZTO, TAL, TSM, QFIN, GOTU