# NEW SILK ROAD INVESTMENT PTE LTD

> Institutional holdings reported to the SEC as of Q3 2023 on Form 13F. CIK 1569352. Source: https://holderbook.com/funds/1569352-new-silk-road-investment-pte-ltd/

- Reported value: $50.4M
- Positions: 9
- Weight of the ten largest: 100.0%
- Filed: 2023-11-09

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| YUM CHINA HLDGS INC | [YUMC](https://holderbook.com/stocks/YUMC/) | $11.6M | 207,841 | 23.0% | 20 |
| TRIP COM GROUP LTD | [TCOM](https://holderbook.com/stocks/TCOM/) | $7.6M | 218,170 | 15.1% | 10 |
| H WORLD GROUP LTD | [HTHT](https://holderbook.com/stocks/HTHT/) | $6.8M | 172,232 | 13.5% | 9 |
| PDD HOLDINGS INC | [PDD](https://holderbook.com/stocks/PDD/) | $5.7M | 58,300 | 11.3% | 1 |
| SEA LTD | [SE](https://holderbook.com/stocks/SE/) | $5.7M | 128,565 | 11.2% | 15 |
| BAIDU INC | [BIDU](https://holderbook.com/stocks/BIDU/) | $4.5M | 33,388 | 8.9% | 10 |
| MINISO GROUP HLDG LTD | [MNSO](https://holderbook.com/stocks/MNSO/) | $3.2M | 123,194 | 6.3% | 12 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $3.1M | 36,100 | 6.2% | 5 |
| DADA NEXUS LTD | [DADA](https://holderbook.com/stocks/DADA/) | $2.2M | 498,700 | 4.4% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2023 | -2.3% | -3.6% | +1.3% | 100% |
| Q2 2023 | -16.5% | +8.3% | -24.8% | 100% |
| Q1 2023 | +24.4% | +7.0% | +17.3% | 100% |
| Q4 2022 | +15.4% | +7.1% | +8.3% | 100% |
| Q3 2022 | -11.5% | -5.3% | -6.2% | 100% |
| Q2 2022 | -12.2% | -16.5% | +4.3% | 100% |
| Q1 2022 | -28.0% | -4.9% | -23.1% | 100% |
| Q4 2021 | -20.0% | +10.7% | -30.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2023 | $50.4M | 9 |
| Q2 2023 | $49.2M | 9 |
| Q1 2023 | $54.6M | 8 |
| Q4 2022 | $66.8M | 14 |
| Q3 2022 | $75.2M | 17 |
| Q2 2022 | $85.2M | 13 |
| Q1 2022 | $106.6M | 15 |
| Q4 2021 | $134.7M | 13 |
| Q3 2021 | $153.5M | 11 |
| Q2 2021 | $190.1M | 14 |
| Q1 2021 | $146.7M | 10 |
| Q4 2020 | $172.8M | 12 |