# Greenwoods Asset Management Ltd

> Institutional holdings reported to the SEC as of Q4 2020 on Form 13F. CIK 1577133. Source: https://holderbook.com/funds/1577133-greenwoods-asset-management-ltd/

- Reported value: $4.4B
- Positions: 39
- Weight of the ten largest: 83.5%
- Filed: 2021-02-12

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 |
|---|---|---|---|---|---|
| PDD HOLDINGS INC | [PDD](https://holderbook.com/stocks/PDD/) | $1.1B | 6,403,552 | 26.1% | 9 |
| SEA LTD | [SE](https://holderbook.com/stocks/SE/) | $423.9M | 2,129,532 | 9.7% | 6 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $415.4M | 1,520,670 | 9.5% | 9 |
| ZTO EXPRESS CAYMAN INC | [ZTO](https://holderbook.com/stocks/ZTO/) | $396.2M | 13,588,116 | 9.1% | 6 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $285.2M | 2,615,770 | 6.6% | 2 |
| TAL ED GROUP | [TAL](https://holderbook.com/stocks/TAL/) | $236.8M | 3,312,033 | 5.4% | 9 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $233.4M | 1,759,205 | 5.4% | 2 |
| NETEASE COM INC | [NTES](https://holderbook.com/stocks/NTES/) | $186.9M | 1,951,320 | 4.3% | 3 |
| VIPSHOP HLDGS LTD | [VIPS](https://holderbook.com/stocks/VIPS/) | $164.8M | 5,862,984 | 3.8% | 6 |
| BILIBILI INC | [BILI](https://holderbook.com/stocks/BILI/) | $155.3M | 1,812,258 | 3.6% | 4 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $129.8M | 183,980 | 3.0% | 1 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $118.3M | 532,051 | 2.7% | 7 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $88.5M | 380,421 | 2.0% | 9 |
| BAIDU INC | [BIDU](https://holderbook.com/stocks/BIDU/) | $73.2M | 338,582 | 1.7% | 4 |
| KE HLDGS INC | [BEKE](https://holderbook.com/stocks/BEKE/) | $53.7M | 872,655 | 1.2% | 2 |
| JD.COM INC | [JD](https://holderbook.com/stocks/JD/) | $40.9M | 465,537 | 0.9% | 6 |
| SO YOUNG INTERNATIONAL INC | [SY](https://holderbook.com/stocks/SY/) | $40.0M | 3,597,080 | 0.9% | 7 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $36.6M | 20,860 | 0.8% | 5 |
| ALBEMARLE CORP | [ALB](https://holderbook.com/stocks/ALB/) | $29.3M | 198,750 | 0.7% | 1 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $28.9M | 8,863 | 0.7% | 4 |
| YOUDAO INC | [DAO](https://holderbook.com/stocks/DAO/) | $13.3M | 501,969 | 0.3% | 5 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $10.5M | 9,263 | 0.2% | 2 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $7.9M | 155,072 | 0.2% | 4 |
| HIGH TEMPLAR TECHNOLOGY LTD | [HTT](https://holderbook.com/stocks/HTT/) | $7.6M | 5,472,601 | 0.2% | 8 |
| ZAI LAB LTD | [ZLAB](https://holderbook.com/stocks/ZLAB/) | $5.0M | 37,015 | 0.1% | 9 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $4.6M | 8,421 | 0.1% | 7 |
| JINKOSOLAR HLDG CO LTD | [JKS](https://holderbook.com/stocks/JKS/) | $4.1M | 66,650 | 0.1% | 2 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $3.8M | 7,282 | 0.1% | 8 |
| BLOCK INC | [XYZ](https://holderbook.com/stocks/XYZ/) | $3.8M | 17,300 | 0.1% | 1 |
| 111 INC | [YI](https://holderbook.com/stocks/YI/) | $3.5M | 501,852 | 0.1% | 9 |
| HUTCHMED CHINA LTD | [HCM](https://holderbook.com/stocks/HCM/) | $3.2M | 100,169 | 0.1% | 7 |
| DAQO NEW ENERGY CORP | [DQ](https://holderbook.com/stocks/DQ/) | $2.3M | 39,690 | 0.1% | 3 |
| BALLARD PWR SYS INC NEW | [BLDP](https://holderbook.com/stocks/BLDP/) | $2.2M | 96,100 | 0.1% | 1 |
| ALTERYX INC | [AYX](https://holderbook.com/stocks/AYX/) | $2.2M | 18,000 | 0.1% | 2 |
| VNET GROUP INC | [VNET](https://holderbook.com/stocks/VNET/) | $2.0M | 57,913 | 0.0% | 2 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $1.5M | 10,300 | 0.0% | 1 |
| X FINL SPONSORED ADS | [XYF](https://holderbook.com/stocks/XYF/) | $631.0K | 315,728 | 0.0% | 9 |
| CREE INC | [CREE](https://holderbook.com/stocks/CREE/) | $334.0K | 3,150 | 0.0% | 1 |
| CONCORD MED SVCS HLDGS LTD | [CCM](https://holderbook.com/stocks/CCM/) | $311.0K | 113,549 | 0.0% | 9 |

## 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 |
|---|---|---|---|---|
| Q4 2020 | +20.0% | +11.6% | +8.4% | 100% |
| Q3 2020 | +11.1% | +8.6% | +2.5% | 100% |
| Q2 2020 | +37.0% | +19.6% | +17.4% | 100% |
| Q1 2020 | -8.0% | -19.9% | +11.9% | 100% |
| Q4 2019 | +19.2% | +8.5% | +10.8% | 100% |
| Q3 2019 | +1.3% | +1.3% | -0.0% | 100% |
| Q2 2019 | -1.6% | +3.7% | -5.3% | 100% |
| Q1 2019 | +37.2% | +13.0% | +24.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2020 | $4.4B | 39 |
| Q3 2020 | $3.1B | 38 |
| Q2 2020 | $3.6B | 39 |
| Q1 2020 | $2.3B | 41 |
| Q4 2019 | $1.8B | 30 |
| Q3 2019 | $1.6B | 30 |
| Q2 2019 | $1.5B | 25 |
| Q1 2019 | $1.6B | 22 |
| Q4 2018 | $1.1B | 25 |