CIK: 0001848138
Total reported value
$3.9B
Reporting period: 2026-03-31 · Number of holdings: 35
Greenwoods Asset Management Hong Kong Ltd. disclosed 35 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $3.9B and a quarterly turnover rate of 38.9%.
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Greenwoods Asset Management Hong Kong Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.103 — mathematically equivalent to about 10 equally-sized positions, well below its 35 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.28), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.4 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Trim META
-45.7% -$348.1M
Add INTC
+167.3% $209.9M
Add PDD
+28.6% $71.5M
Trim NTES
-0.7% -$85.0M
Add YMM
+43.2% $33.1M
Trim FUTU
-12.3% -$50.3M
Showing top 25 holdings (of 35 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 21.66% | +0.84% | +8.61% | |
| 2 | PDD | Pdd Holdings INC | Stock-Consumer Disc | 13.45% | +2.33% | +28.62% | |
| 3 | NTES | Netease Inc-adr | Stock-Comm Services | 9.21% | -1.72% | -0.69% | |
| 4 | YMM | Full Truck Alliance -spn Adr | Stock-Other | 8.77% | +1.18% | +43.22% | |
| 5 | META | Meta Platforms Inc-class A | Stock-Comm Services | 7.99% | -8.28% | -45.66% | |
| 6 | INTC | Intel CORP | Stock-Tech | 7.88% | +5.52% | +167.27% | |
| 7 | AMZN | Amazon.com INC | Stock-Consumer Disc | 5.40% | +5.40% | NEW | |
| 8 | FUTU | Futu Holdings Ltd-adr | Stock-Financials | 3.51% | -1.10% | -12.28% | |
| 9 | NVDA | Nvidia CORP | Stock-Tech | 3.43% | -0.43% | -8.97% | |
| 10 | TCOM | Trip.com Group Ltd-adr | Stock-Consumer Disc | 3.34% | +3.34% | NEW | |
| 11 | ATAT | Atour Lifestyle Holdings-adr | Stock-Other | 2.46% | +0.23% | +13.14% | |
| 12 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | 2.27% | -0.79% | -16.65% | |
| 13 | EDU | New Oriental Educatio-sp Adr | Stock-Consumer Staples | 1.94% | +0.13% | — | |
| 14 | AAPL | Apple INC | Stock-Tech | 1.63% | +0.20% | +16.55% | |
| 15 | HTHT | H World Group Ltd-adr | Stock-Other | 1.38% | +0.40% | +26.15% | |
| 16 | QFIN | Qfin Holdings Inc-adr | Stock-Other | 1.10% | -0.47% | — | |
| 17 | SE | Sea Ltd-adr | Stock-Comm Services | 1.04% | +0.02% | +50.56% | |
| 18 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.91% | -0.15% | — | |
| 19 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.72% | +0.05% | -7.54% | |
| 20 | TAL | Tal Education Group- Adr | Stock-Consumer Staples | 0.72% | +0.02% | -5.71% | |
| 21 | WRD | Weride Inc-adr | Stock-Other | 0.46% | -0.01% | — | |
| 22 | MMYT | MakeMyTrip Limited | Stock-Other | 0.37% | -0.15% | +51.25% | |
| 23 | LITE | Lumentum Holdings INC | Stock-Tech | 0.20% | +0.20% | NEW | |
| 24 | HDL | Super Hi International Holdi | Stock-Other | 0.10% | -0.01% | — | |
| 25 | RERE | Atrenew INC | Stock-Other | 0.06% | -0.01% | — |
Performance for Q3 2026
-8.6%
Performance Last 4 Quarters
-3.2%
Based on 76% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 35 | $3.9B | 39 | |
| 2025-12-31 | 38 | $4.0B | 37 | |
| 2025-09-30 | 39 | $4.4B | 76 | |
| 2025-06-30 | 36 | $2.9B | 0 | |
| 2025-03-31 | 40 | $3.2B | 100 | |
| 2024-12-31 | 44 | $3.2B | 0 | |
| 2024-09-30 | 45 | $3.2B | 0 | |
| 2024-06-30 | 51 | $3.8B | 0 | |
| 2024-03-31 | 56 | $3.2B | 0 | |
| 2023-12-31 | 46 | $2.8B | 0 | |
| 2023-09-30 | 49 | $2.5B | 0 | |
| 2023-06-30 | 44 | $2.1B | 0 | |
| 2023-03-31 | 46 | $1.7B | 0 | |
| 2022-12-31 | 54 | $1.6B | 0 | |
| 2022-09-30 | 50 | $1.5B | 0 | |
| 2022-06-30 | 57 | $2.2B | 0 | |
| 2022-03-31 | 57 | $2.3B | 0 | |
| 2021-12-31 | 54 | $2.7B | 0 | |
| 2021-09-30 | 57 | $2.5B | 0 | |
| 2021-06-30 | 58 | $2.9B | 100 | |
| 2021-03-31 | 50 | $2.4B | — |
Greenwoods Asset Management Hong Kong Ltd.'s most significant position changes for 2026-03-31: New buy: Amazon.com INC (AMZN); New buy: Trip.com Group Ltd-adr (TCOM); Sold out: Broadcom INC (AVGO); Sold out: Synopsys INC (SNPS); Sold out: Nebius Group NV (NBIS).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | INTC | Intel CORP | +5.5% | +167.27% | Add |
| 2 | PDD | Pdd Holdings INC | +2.3% | +28.62% | Add |
| 3 | YMM | Full Truck Alliance -spn Adr | +1.2% | +43.22% | Add |
| 4 | GOOGL | Alphabet Inc-cl A | +0.8% | +8.61% | Add |
| 5 | HTHT | H World Group Ltd-adr | +0.4% | +26.15% | Add |
| 6 | ATAT | Atour Lifestyle Holdings-adr | +0.2% | +13.14% | Add |
| 7 | AAPL | Apple INC | +0.2% | +16.55% | Add |
| 8 | EDU | New Oriental Educatio-sp Adr | +0.1% | — | Unchanged |
| 9 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | -7.54% | Trim |
| 10 | SE | Sea Ltd-adr | 0% | +50.56% | Add |
| 11 | TAL | Tal Education Group- Adr | 0% | -5.71% | Trim |
| 12 | WRD | Weride Inc-adr | 0% | — | Unchanged |
| 13 | HDL | Super Hi International Holdi | 0% | — | Unchanged |
| 14 | RERE | Atrenew INC | 0% | — | Unchanged |
| 15 | UNH | Unitedhealth Group INC | -0.2% | — | Unchanged |
| 16 | MMYT | MakeMyTrip Limited | -0.2% | +51.25% | Add |
| 17 | NVDA | Nvidia CORP | -0.4% | -8.97% | Trim |
| 18 | QFIN | Qfin Holdings Inc-adr | -0.5% | — | Unchanged |
| 19 | BABA | Alibaba Group Holding-sp Adr | -0.8% | -16.65% | Trim |
| 20 | FUTU | Futu Holdings Ltd-adr | -1.1% | -12.28% | Trim |
| 21 | NTES | Netease Inc-adr | -1.7% | -0.69% | Trim |
| 22 | META | Meta Platforms Inc-class A | -8.3% | -45.66% | Trim |
| 23 | AMZN | Amazon.com INC | — | NEW | New buy |
| 24 | TCOM | Trip.com Group Ltd-adr | — | NEW | New buy |
| 25 | AVGO | Broadcom INC | — | EXIT | Sold out |
| 26 | SNPS | Synopsys INC | — | EXIT | Sold out |
| 27 | NBIS | Nebius Group NV | — | EXIT | Sold out |
| 28 | BEKE | Ke Holdings Inc-adr | — | EXIT | Sold out |
| 29 | JKS | Jinkosolar Holding Co-adr | — | EXIT | Sold out |
| 30 | XBI | Ss Spdr S&p Biotech ETF | — | EXIT | Sold out |
| 31 | LITE | Lumentum Holdings INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-08 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-06 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-10 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-08 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-07 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-08 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-09 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-10 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-09 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-09 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-10 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-11 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
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