1y return−1.8%S&P 500 +20.9%
3y return+76.9%S&P 500 +68.5%
5y return+10.3%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since March 31, 2021: $122 against $188 in the S&P 500.2
Greenwoods Asset Management Hong Kong Ltd.S&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| GOOGLAlphabet Inc | $647.0M | 29.6% | −38.0% |
| INTCIntel Corp | $384.1M | 17.6% | −60.3% |
| PDDPdd Holdings Inc | $365.1M | 16.7% | −6.2% |
| YMMFull Truck Alliance Co Ltd | $320.4M | 14.7% | −3.7% |
| FUTUFutu Hldgs Ltd | $102.5M | 4.7% | +9.8% |
| NTESNetease Com Inc | $77.0M | 3.5% | −81.2% |
| ATATAtour Lifestyle Hldgs Ltd | $56.9M | 2.6% | −31.0% |
| QFINQfin Holdings Inc | $47.9M | 2.2% | −8.0% |
| AAPLApple Inc | $42.4M | 1.9% | −40.9% |
| TSMTaiwan Semiconductor Manufac | $39.7M | 1.8% | |
| SESea Ltd | $20.8M | 1.0% | −55.5% |
| Makemytrip Limited MauritiusCUSIP V5633W109 | $20.7M | 0.9% | |
| Asml Hldg NvCUSIP N07059210 | $14.1M | 0.6% | New |
| HTHTH World Group Ltd | $13.4M | 0.6% | −69.8% |
| WRDWeride Inc | $12.8M | 0.6% | |
| AAOIApplied Optoelectronics Inc | $7.9M | 0.4% | New |
| VNETVnet Group Inc | $5.2M | 0.2% | New |
| HDLSuper Hi Intl Hldg Ltd | $3.3M | 0.2% | |
| REREAtrenew Inc | $2.0M | 0.1% | |
| AMATApplied Matls Inc | $1.8M | 0.1% | New |
| TCOMTrip Com Group Ltd | $478K | 0.0% | −99.5% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| TSMTaiwan Semiconductor Manufac | December 31, 2023 | +359.2% | $39.7M |
| FUTUFutu Hldgs Ltd | June 30, 2023 | +135.9% | $102.5M |
| GOOGLAlphabet Inc | September 30, 2024 | +115.5% | $647.0M |
| NTESNetease Com Inc | March 31, 2021 | +24.1% | $77.0M |
| HTHTH World Group Ltd | June 30, 2025 | +23.0% | $13.4M |
| AAPLApple Inc | September 30, 2025 | +13.6% | $42.4M |
| SESea Ltd | September 30, 2024 | +1.6% | $20.8M |
| ATATAtour Lifestyle Hldgs Ltd | June 30, 2025 | −2.2% | $56.9M |
| TCOMTrip Com Group Ltd | March 31, 2026 | −20.0% | $478K |
| HDLSuper Hi Intl Hldg Ltd | June 30, 2024 | −35.3% | $3.3M |
Sold off last quarter
- METAMeta Platforms Inc was $309.9M
- AMZNAmazon Com Inc was $209.2M
- NVDANvidia Corporation was $133.0M
- BABAAlibaba Group Hldg Ltd was $88.2M
- EDUNew Oriental Ed & Technology was $75.2M
- UNHUnitedhealth Group Inc was $35.3M
- TALTal Ed Group was $27.8M
- LITELumentum Hldgs Inc was $7.6M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +2.5% | +14.8% |
| March 31, 2026 | −11.4% | −4.6% |
| December 31, 2025 | −5.9% | +2.4% |
| September 30, 2025 | +15.0% | +7.8% |
| June 30, 2025 | +10.7% | +10.5% |
| March 31, 2025 | +4.5% | −4.6% |
| December 31, 2024 | −3.7% | +2.1% |
| September 30, 2024 | +7.2% | +5.4% |
| June 30, 2024 | +5.6% | +4.0% |
| March 31, 2024 | +7.6% | +10.0% |
| December 31, 2023 | +17.6% | +11.2% |
| September 30, 2023 | +12.8% | −3.6% |
| June 30, 2023 | +3.6% | +8.3% |
| March 31, 2023 | +9.7% | +7.0% |
| December 31, 2022 | +4.3% | +7.1% |
| September 30, 2022 | −16.7% | −5.3% |
| June 30, 2022 | +2.2% | −16.5% |
| March 31, 2022 | −25.9% | −4.9% |
| December 31, 2021 | −9.6% | +10.7% |
| September 30, 2021 | −7.9% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Greenwoods Asset Management Hong Kong Ltd. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1848138&type=13F-HR&dateb=&owner=include&count=40CIK 1848138
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1848138/000184813826000011/Filed August 7, 2026 · accession 0001848138-26-000011