Vipshop Holdings Ltd. - ADRVIPS

13F holders, Q3 2025 (September 30)
278holders +1
34new positions
34sold out
5famous investors
$19.58avg. 13F price*

At the end of Q3 2025, 278 institutions reported holding Vipshop Holdings Ltd. - ADR (VIPS) in their 13F filings, up 1 from Q2 2025. 34 opened new positions and 34 sold out. The largest holders were BlackRock, Inc. ($425.6M), FIL Ltd ($361.5M) and Invesco Ltd. ($328.3M). 5 famous investors held it, including Jeremy Grantham (0.1% of GMO's portfolio), Ken Griffin (0.0% of Citadel Advisors's portfolio) and David E. Shaw (0.0% of D. E. Shaw & Co.'s portfolio).

Company
Vipshop Holdings Ltd. - ADR
CUSIP
92763W103
Latest filing quarter
Q2 2026

History

Number of 13F holders

0100200300400 Q1 2024: 328Q1 2024Q2 2024: 291Q2 2024Q3 2024: 267Q3 2024Q4 2024: 277Q4 2024Q1 2025: 304Q1 2025Q2 2025: 277Q2 2025Q3 2025: 278Q3 2025Q4 2025: 313Q4 2025Q1 2026: 278Q1 2026Q2 2026: 286Q2 2026

Total Exit/New Position Q2 2025 → Q3 2025

InstitutionsTotal Value
New Positions34$81.7M
Exits34$131.2M

All 13F filers, Q2 2025 → Q3 2025: 38,685,348 shares bought and 35,591,596 shares sold, net +3,093,752 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.

Ownership 278 holders

BlackRock, Inc. 0.01% Add +15.3% 21,670,185 $425.6M
FIL Ltd 0.28% Add +40.4% 18,407,263 $361.5M
Invesco Ltd. 0.05% Add +87.2% 16,715,656 $328.3M
Acadian Asset Management LLC 0.57% Add +1.4% 16,604,384 $326.1M
Krane Funds Advisors LLC 9.11% Add +24.9% 17,185,535 $320.4M
Robeco Institutional Asset Management B.V. 0.35% Add +2.7% 12,204,449 $239.7M
Vanguard Group Inc. 0.00% Reduce -24.7% 9,998,259 $196.4M
Orbis Allan Gray Ltd 0.81% Add +96.7% 9,587,623 $188.3M
Dimensional Fund Advisors LP 0.04% Add +2.0% 8,467,566 $166.2M
State Street Corp. 0.00% Reduce -1.8% 7,021,816 $137.9M
Carmignac Gestion 1.91% Reduce -31.5% 6,518,398 $127.8M
LSV Asset Management 0.24% Add +11.7% 5,524,813 $108.5M
Polaris Capital Management, LLC 6.54% Reduce -9.4% 5,068,000 $99.5M
Arrowstreet Capital, Limited Partnership 0.06% Reduce -15.9% 4,696,530 $92.2M
CapitalatWork S.A. 2.41% Reduce -1.1% 4,212,377 $82.7M
Massachusetts Financial Services Co. 0.02% Add +12.4% 3,690,733 $72.5M
Morgan Stanley 0.00% Reduce -36.5% 3,628,591 $71.3M
Geode Capital Management, LLC 0.00% Add +2.7% 3,593,403 $70.2M
HSBC Holdings PLC 0.04% Reduce -5.0% 3,514,789 $69.0M
North of South Capital LLP 6.33% Add +4.1% 3,355,999 $65.9M
Marathon Asset Management Ltd 2.25% Reduce -16.3% 3,114,748 $61.2M
Allianz Asset Management GmbH 0.07% Add +9.7% 2,825,849 $55.5M
Todd Asset Management LLC 1.04% Add +36.9% 2,615,109 $51.4M
Legal & General Group Plc 0.01% Reduce -5.1% 2,485,804 $48.8M
Northern Trust Corp. 0.01% Add +1.7% 2,419,682 $47.5M
FMR LLC 0.00% Reduce -1.6% 2,406,631 $47.3M
National Bank of Canada 0.05% Reduce -31.9% 2,325,400 $45.7M
UBS Group AG 0.01% Reduce -40.1% 2,263,360 $44.5M
Charles Schwab Investment Management Inc. 0.01% Add +0.0% 2,254,268 $44.3M
American Century Companies Inc. 0.02% Add +10.1% 2,197,834 $43.2M
Allspring Global Investments Holdings, LLC 0.06% Reduce -56.1% 1,813,601 $37.5M
JPMorgan Chase & Co. 0.00% Reduce -27.1% 1,899,868 $37.3M
BNP Paribas Financial Markets 0.03% Add +19.5% 1,838,520 $36.1M
Goldman Sachs Group Inc. 0.01% Add +18.5% 1,772,953 $34.8M
Teachers Retirement System of the State of Kentucky 0.26% Add +36.8% 1,732,920 $34.0M
Ameriprise Financial Inc. 0.01% Add +15.3% 1,581,409 $31.1M
Russell Investments Group, Ltd. 0.03% Add +15.4% 1,474,682 $28.4M
Man Group plc 0.05% Add +186.8% 1,386,108 $27.2M
GMO 0.07% Add +173.4% 1,343,921 $26.4M
Sei Investments Co. 0.03% Reduce -23.1% 1,341,545 $26.3M
Principal Financial Group Inc. 0.01% Add +44.7% 1,301,486 $25.6M
New York State Common Retirement Fund 0.03% Reduce -9.2% 1,277,485 $25.1M
Bank of America Corp. 0.00% Reduce -2.1% 1,250,978 $24.6M
Mitsubishi UFJ Trust & Banking Corp 0.05% Add +6.3% 1,178,821 $23.2M
SG Americas Securities, LLC 0.08% Reduce -43.0% 1,097,785 $21.6M
Causeway Capital Management LLC 0.28% Add +37.6% 1,076,736 $21.1M
Citigroup Inc. 0.01% Add +2.6% 1,076,651 $21.1M
Prudential PLC 0.15% Reduce -20.3% 1,069,712 $21.0M
Zurcher Kantonalbank (Zurich Cantonalbank) 0.05% Add +113.1% 1,061,810 $20.9M
Deutsche Bank AG 0.01% Add +4.4% 1,036,682 $20.4M
Public Employees Retirement System of Ohio 0.06% Reduce -0.4% 1,028,624 $20.2M
Lazard Asset Management LLC 0.03% Reduce -2.1% 947,036 $18.6M
Clark Capital Management Group, Inc. 0.11% New 931,890 $18.3M
Storebrand Asset Management As 0.04% Add +35.0% 786,521 $15.4M
Sumitomo Mitsui Trust Group, Inc. 0.01% Add +1.7% 744,462 $14.6M
Swiss National Bank 0.01% Reduce -0.4% 739,136 $14.5M
CANADA LIFE ASSURANCE Co 0.02% Reduce -6.3% 749,035 $14.3M
Healthcare of Ontario Pension Plan Trust Fund 0.03% New 725,200 $14.2M
RBF Capital, LLC 0.65% No change 722,165 $14.2M
Manufacturers Life Insurance Company, The 0.01% Add +53.2% 664,659 $13.1M
Wellington Management Group LLP 0.00% Add +2.5% 664,499 $13.1M
Two Sigma Advisers, LP 0.03% Add +275.5% 655,300 $12.9M
Jane Street Group, LLC 0.02% New 654,549 $12.9M
Nuveen, LLC 0.00% Reduce -1.4% 624,677 $12.3M
AXA Investment Managers S.A. 0.03% — 591,994 $11.6M
California Public Employees Retirement System 0.01% Reduce -12.3% 586,322 $11.5M
Polymer Capital Management (HK) LTD 1.60% Add +10.5% 585,100 $11.5M
Hosking Partners LLP 0.40% Reduce -2.1% 568,487 $11.2M
Bank of New York Mellon Corp 0.00% Reduce -9.2% 501,036 $9.8M
Voloridge Investment Management, LLC 0.03% New 490,072 $9.6M
Qube Research & Technologies Ltd 0.01% Add +52.9% 484,475 $9.5M
Barclays PLC 0.00% Add +37.9% 476,860 $9.4M
Pictet Asset Management Holding SA 0.01% Add +8.4% 432,000 $8.5M
Caisse de depot et placement du Quebec 0.01% Add +25.1% 383,400 $7.5M
Franklin Resources Inc. 0.00% Reduce -11.0% 381,838 $7.5M
Macquarie Group Ltd. 0.01% Reduce -0.9% 377,928 $7.4M
O'shaughnessy Asset Management, LLC 0.04% Add +11.6% 376,166 $7.4M
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.01% Reduce -10.6% 370,471 $7.3M
DekaBank Deutsche Girozentrale 0.01% No change 386,332 $7.3M
Commonwealth of Pennsylvania Public School Empls Retrmt SYS 0.04% Reduce -13.1% 367,988 $7.2M
Korea Investment CORP 0.01% Add +3.9% 361,272 $7.1M
Mitsubishi UFJ Asset Management Co., Ltd. 0.01% Add +22.8% 359,586 $7.1M
Aberdeen Group plc 0.01% Reduce -15.5% 361,259 $6.9M
Royal London Asset Management Ltd. 0.01% No change 341,946 $6.7M
Citadel Advisors 0.01% Add +67.1% 341,059 $6.7M
Nordea Investment Management AB 0.01% Reduce -81.1% 305,451 $5.9M
GF Fund Management Co. LTD. 0.10% Reduce -7.3% 279,326 $5.5M
Handelsbanken Fonder AB 0.02% Add +4.7% 271,361 $5.3M
D. E. Shaw & Co. 0.00% Reduce -55.5% 269,629 $5.3M
Pinpoint Asset Management (Singapore) Pte. Ltd. 0.89% New 253,118 $5.0M
Aviva PLC 0.01% Reduce -2.4% 243,932 $4.8M
Creative Planning 0.00% Add +25.4% 203,985 $4.0M
BI Asset Management Fondsmaeglerselskab A/S 0.04% Add +68.5% 203,173 $4.0M
Envestnet Asset Management Inc. 0.00% New 190,929 $3.7M
Danske Bank A/S 0.01% Add +47.4% 182,848 $3.6M
Skandinaviska Enskilda Banken AB (publ) 0.01% Reduce -48.2% 179,814 $3.5M
Thrivent Financial for Lutherans 0.01% New 173,179 $3.4M
Two Sigma Investments, LP 0.01% New 161,400 $3.2M
Prudential Financial Inc. 0.00% Reduce -68.7% 158,401 $3.1M
Ritholtz Wealth Management 0.06% Add +18.8% 158,045 $3.1M
Schroder Investment Management Group 0.00% Reduce -39.5% 161,411 $3.1M
Swedbank AB 0.00% Add +4.9% 156,723 $3.1M
California State Teachers Retirement System 0.00% Reduce -24.9% 155,429 $3.1M
APG Asset Management N.V. 0.01% Add +141.4% 177,187 $3.0M
National Philanthropic Trust 0.03% No change 149,975 $2.9M
KLP Kapitalforvaltning As 0.01% No change 148,500 $2.9M
Harvest Fund Management Co., Ltd 0.12% Reduce -33.6% 189,023 $2.9M
Lester Murray Antman dba SimplyRich 0.78% Add +0.5% 146,753 $2.9M
Rakuten Investment Management, Inc. 0.01% — 29,171 $2.9M
Leonteq Securities AG 0.15% Add +95.0% 139,242 $2.7M
Aurora Investment Counsel 1.39% Add +7.3% 134,817 $2.6M
E Fund Management (Hong Kong) Co., Ltd. 1.59% No change 133,271 $2.6M
US Bancorp \de 0.00% Reduce -1.3% 129,294 $2.5M
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% No change 127,700 $2.5M
Quadrant Capital Group LLC 0.08% Add +0.6% 126,881 $2.5M
Dodge & Cox 0.00% No change 124,197 $2.4M
Millennium Management 0.00% Reduce -49.2% 123,184 $2.4M
Exchange Traded Concepts, LLC 0.02% Add +0.6% 121,975 $2.4M
Public Sector Pension Investment Board 0.01% Reduce -8.3% 114,849 $2.3M
BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% Add +19.6% 110,475 $2.2M
Marshall Wace, LLP 0.00% New 107,941 $2.1M
KBC Group NV 0.01% No change 106,827 $2.1M
Kiker Wealth Management, LLC 1.05% Add +1.8% 106,297 $2.1M
Limestone Investment Advisors LP 0.91% No change 98,536 $1.9M
Campbell & CO Investment Adviser LLC 0.14% Add +230.5% 94,421 $1.9M
Susquehanna Portfolio Strategies, LLC 0.03% Add +213.9% 92,796 $1.8M
National Pension Service 0.00% No change 87,313 $1.7M
Segall Bryant & Hamill, LLC 0.02% Add +19.9% 84,800 $1.7M
Diversified Trust Co. 0.03% Add +0.1% 83,413 $1.6M
Resona Asset Management Co.,Ltd. 0.01% Reduce -12.1% 83,253 $1.6M
Van Eck Associates Corp. 0.00% Add +23.2% 77,563 $1.5M
Susquehanna International Group, LLP 0.00% Reduce -44.3% 76,522 $1.5M
Gsa Capital Partners LLP 0.12% New 75,984 $1.5M
NorthCoast Asset Management LLC 0.01% Add +6.5% 75,335 $1.5M
Simplex Trading, LLC 0.03% Add +96.7% 75,000 $1.5M
Penserra Capital Management LLC 0.02% Reduce -5.1% 73,745 $1.4M
DNB Asset Management AS 0.01% Add +168.7% 72,637 $1.4M
Osaic Holdings, Inc. 0.00% Add +81.6% 72,753 $1.4M
Quantinno Capital Management LP 0.00% Add +10.9% 72,367 $1.4M
Royal Bank of Canada 0.00% Add +132.7% 71,487 $1.4M
Jump Financial, LLC 0.02% Add +111.0% 70,800 $1.4M
Federation des caisses Desjardins du Quebec 0.01% Add +107.4% 68,377 $1.3M
Cubist Systematic Strategies, LLC 0.02% New 66,402 $1.3M
OMERS ADMINISTRATION Corp 0.01% No change 65,450 $1.3M
Point72 Hong Kong Ltd 0.06% Reduce -83.4% 64,749 $1.3M
Cerity Partners LLC 0.00% Add +0.9% 64,077 $1.3M
Credit Agricole S A 0.00% — 63,518 $1.2M
Guggenheim Capital LLC 0.01% Add +39.6% 62,901 $1.2M
Loomis Sayles & Co. L P 0.00% Add +2.6% 62,877 $1.2M
Lansforsakringar Fondforvaltning AB (publ) 0.01% No change 58,943 $1.2M
Asset Management One Co., Ltd. 0.00% Add +14.7% 57,139 $1.1M
Vise Technologies, Inc. 0.04% Add +4.1% 56,522 $1.1M
Raymond James Financial Inc. 0.00% Add +9.6% 54,891 $1.1M
Raiffeisen Bank International AG 0.01% Reduce -9.4% 55,800 $1.1M
DGS Capital Management, LLC 0.19% Add +7.3% 53,148 $1.0M
B. Metzler seel. Sohn & Co. AG 0.01% Reduce -22.0% 50,615 $994K
Rhumbline Advisers 0.00% Reduce -1.3% 50,206 $986K
LPL Financial LLC 0.00% Add +294.8% 47,458 $932K
Nomura Asset Management Co. Ltd. 0.00% No change 45,800 $900K
GTS Securities LLC 0.03% New 44,647 $877K
Swiss Life Asset Management Ltd 0.00% Add +20.7% 44,005 $864K
Tidal Investments LLC 0.00% Reduce -11.3% 43,761 $859K
Daiwa Securities Group Inc. 0.00% No change 42,000 $825K
Vinva Investment Management Ltd 0.02% No change 42,548 $812K
CIBC Asset Management Inc 0.00% Reduce -2.5% 40,962 $804K
Mirae Asset Global Investments Co., Ltd. 0.00% Reduce -30.0% 39,200 $770K
Vanguard Personalized Indexing Management, LLC 0.01% Add +20.3% 39,169 $769K
Van Berkom & Associates Inc. 0.02% No change 39,077 $767K
Police & Firemen's Retirement System of New Jersey 0.01% Reduce -52.9% 38,846 $763K
Vident Advisory, LLC 0.01% Add +106.9% 37,346 $733K
Cetera Investment Advisers 0.00% New 35,915 $705K
Strategic Global Advisors, LLC 0.11% Reduce -17.5% 35,345 $694K
Victory Capital Management Inc. 0.00% No change 35,070 $689K
IFM Investors Pty Ltd 0.01% Add +123.5% 36,591 $674K
Jain Global LLC 0.01% Add +113.3% 33,700 $662K
Alliancebernstein L.P. 0.00% New 31,973 $628K
Ethic Inc. 0.01% Add +9.9% 31,501 $619K
Voya Investment Management LLC 0.00% Reduce -2.8% 30,099 $591K
XTX Topco Ltd 0.03% New 29,100 $572K
Fifth Third Bancorp 0.00% Add +16.6% 28,879 $567K
IMC-Chicago, LLC 0.01% New 28,398 $558K
Laird Norton Wetherby Wealth Management, LLC 0.02% Reduce -0.2% 26,891 $528K
Legacy Capital Group California, Inc. 0.13% Add +7.3% 25,828 $507K
Park Avenue Securities LLC 0.00% New 24,997 $491K
Verity Asset Management, Inc. 0.16% New 24,569 $483K
Advisors Asset Management, Inc. 0.01% Add +4.7% 24,145 $474K
Cibc World Market Inc. 0.00% Add +11.2% 22,602 $444K
Virtus Advisers, LLC 0.25% Reduce -4.8% 22,583 $444K
Brevan Howard Capital Management LP 0.01% Add +73.2% 22,490 $442K
Weiss Asset Management LP 0.01% New 22,419 $440K
Alberta Investment Management Corp 0.00% Reduce -55.3% 22,100 $434K
Sequoia Financial Advisors, LLC 0.00% Add +16.4% 21,812 $428K
Public Employees Retirement Association of Colorado 0.00% Reduce -12.2% 21,600 $424K
QRG Capital Management, Inc. 0.01% Reduce -3.7% 21,311 $419K
E. Ohman J:or Asset Management AB 0.01% No change 21,300 $418K
Tudor Investment Corporation 0.00% New 20,678 $406K
Panagora Asset Management Inc. 0.00% Reduce -11.1% 19,770 $388K
Shell Asset Management Co. 0.04% Reduce -40.7% 19,279 $379K
Ensign Peak Advisors, Inc 0.00% Reduce -29.3% 19,050 $374K
Mariner, LLC 0.00% Add +3.2% 18,308 $360K
Gulf International Bank (UK) Ltd 0.01% No change 17,714 $348K
Verition Fund Management LLC 0.00% Reduce -98.8% 17,492 $344K
Csenge Advisory Group 0.02% New 16,303 $320K
J. Safra Sarasin Holding AG 0.01% No change 16,166 $318K
Signaturefd, LLC 0.01% Reduce -0.1% 16,065 $316K
Sumitomo Mitsui DS Asset Management Company, Ltd 0.00% No change 15,698 $308K
Ieq Capital, LLC 0.00% Add +46.0% 15,647 $307K
MML Investors Services, LLC 0.00% New 15,618 $307K
Baader Bank Aktiengesellschaft 0.02% Add +1.5% 15,220 $297K
Profund Advisors LLC 0.01% Reduce -17.0% 15,121 $297K
D'Orazio & Associates, Inc. 0.04% Add +4.3% 15,119 $297K
Pathstone Holdings, LLC 0.00% Add +7.6% 15,113 $297K
First Trust Advisors LP 0.00% Reduce -33.5% 14,802 $291K
Yousif Capital Management, LLC 0.00% No change 14,307 $281K
Principal Securities, Inc. 0.00% Add +4440.0% 14,301 $281K
Vontobel Holding Ltd. 0.00% Reduce -4.5% 13,621 $268K
Centiva Capital, LP 0.02% Reduce -75.9% 13,523 $266K
Compound Planning, Inc. 0.01% Add +28.5% 13,488 $265K
Caprock Group, LLC 0.01% — 14,893 $249K
Genus Capital Management Inc. 0.03% Reduce -45.9% 12,018 $236K
Edmond DE Rothschild Holding S.A. 0.00% No change 12,000 $236K
T. Rowe Price Associates Inc. 0.00% No change 11,800 $232K
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% Reduce -99.7% 11,667 $229K
Bayesian Capital Management, LP 0.05% New 11,600 $228K
Point72 Asia (Singapore) Pte. Ltd. 0.03% Add +48.9% 10,930 $215K
Mercer Global Advisors Inc. 0.00% Reduce -0.5% 10,844 $213K
Kathmere Capital Management, LLC 0.01% New 10,607 $208K
Abn Amro Investment Solutions 0.00% New 10,529 $207K
PNC Financial Services Group, Inc. 0.00% Add +39.5% 9,892 $194K
Hantz Financial Services, Inc. 0.00% Add +148.7% 8,163 $160K
Walleye Trading LLC 0.00% Reduce -87.2% 7,512 $148K
STRS Ohio 0.00% Reduce -72.3% 7,047 $138K
Wells Fargo & Company 0.00% Add +136.8% 6,643 $130K
Parallel Advisors, LLC 0.00% Reduce -2.1% 5,949 $117K
Smartleaf Asset Management LLC 0.01% Add +3.6% 6,062 $116K
Tower Research Capital LLC (TRC) 0.00% Add +23.0% 4,983 $98K
Huntington National Bank 0.00% Add +36.3% 4,530 $89K
Northwestern Mutual Wealth Management Co. 0.00% Reduce -5.3% 3,927 $77K
Global Retirement Partners, LLC 0.00% Add +575.5% 2,925 $57K
Farther Finance Advisors, LLC 0.00% Add +3.0% 2,628 $52K
Transamerica Financial Advisors, LLC 0.00% New 2,570 $50K
iA Global Asset Management Inc. 0.00% Reduce -26.4% 1,945 $38K
EverSource Wealth Advisors, LLC 0.00% Add +22.5% 1,615 $32K
WealthCollab, LLC 0.01% Add +15.3% 1,581 $31K
HM Payson & Co. 0.00% No change 1,309 $26K
Steward Partners Investment Advisory, LLC 0.00% No change 1,000 $20K
CIBC Private Wealth Group LLC 0.00% Reduce -10.3% 1,000 $20K
Tobam 0.01% Reduce -84.4% 944 $19K
Cwm, LLC 0.00% Add +22.4% 859 $17K
Richardson Financial Services Inc. 0.01% New 813 $16K
Byrne Asset Management LLC 0.01% No change 755 $15K
Pinnacle Bancorp, Inc. 0.00% No change 739 $15K
Arax Advisory Partners 0.00% Add +107.3% 715 $14K
Nisa Investment Advisors, LLC 0.00% No change 600 $12K
Assetmark, Inc. 0.00% Reduce -24.7% 550 $11K
Allworth Financial LP 0.00% Add +12.4% 544 $11K
Murphy & Mullick Capital Management Corp 0.01% No change 500 $10K
JFS Wealth Advisors, LLC 0.00% No change 327 $6K
SBI Securities Co., Ltd. 0.00% Reduce -5.7% 281 $6K
Park Square Financial Group, LLC 0.02% New 233 $5K
Inlight Wealth Management, LLC 0.00% No change 200 $4K
Blue Trust, Inc. 0.00% Reduce -19.8% 178 $3K
Private Trust Co. NA 0.00% Add +511.1% 165 $3K
Rossby Financial, LCC 0.00% New 125 $3K
Parkside Financial Bank & Trust 0.00% No change 127 $2K
Physician Wealth Advisors, Inc. 0.00% No change 94 $2K
True Wealth Design, LLC 0.00% New 76 $1K
AdvisorNet Financial, Inc 0.00% No change 72 $1K
Jones Financial Companies LLLP 0.00% No change 75 $1K
State of Wyoming 0.00% New 49 $962
Harbour Investments, Inc. 0.00% No change 36 $707
SWAN Capital LLC 0.00% No change 30 $589
Caitong International Asset Management Co., Ltd 0.00% Reduce -40.5% 25 $491
Raffa Wealth Management, LLC 0.00% No change 19 $373
Rockefeller Capital Management L.P. 0.00% New 10 $196
Abound Wealth Management 0.00% No change 9 $177
Cornerstone Planning Group LLC 0.00% New 31 $118
Brown Brothers Harriman & Co. 0.00% New 1 $20

"% of holder's portfolio" is VIPS's weight in each manager's 13F, not the share of Vipshop Holdings Ltd. - ADR the manager owns.