JustinHou personal page - To The Moon

JustinHou

No personal profile

2Follow

0Followers

0Topic

0Badge

2022-11-15

so？

Remaining optimistic about Chinese assets, Hillhouse Capital HHLR increased its holdings in Pinduoduo and significantly increased its holdings in two Chinese concept new energy stocks in the third quarter.

Go to Tiger App to see more news

{"i18n":{"language":"en_US"},"userPageInfo":{"id":"4094963079349400","uuid":"4094963079349400","gmtCreate":1631867037155,"gmtModify":1631867037155,"name":"JustinHou","pinyin":"justinhou","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":2,"tweetSize":10,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-3","templateUuid":"1026c425416b44e0aac28c11a0848493","name":" Tiger Idol","description":"Join the tiger community for 1500 days","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.04.24","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.29","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":2,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":1,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":667056952,"gmtCreate":1668469607078,"gmtModify":1676538060303,"author":{"id":"4094963079349400","authorId":"4094963079349400","name":"JustinHou","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4094963079349400","idStr":"4094963079349400"},"themes":[],"title":"","htmlText":"so？","listText":"so？","text":"so？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/667056952","repostId":"1195286651","repostType":2,"repost":{"id":"1195286651","kind":"news","pubTimestamp":1668468085,"share":"https://ttm.financial/m/news/1195286651?lang=en_US&edition=fundamental","pubTime":"2022-11-15 07:21","market":"sh","language":"zh","title":"Remaining optimistic about Chinese assets, Hillhouse Capital HHLR increased its holdings in Pinduoduo and significantly increased its holdings in two Chinese concept new energy stocks in the third quarter.","url":"https://stock-news.laohu8.com/highlight/detail?id=1195286651","media":"华尔街见闻","summary":"三季度高瓴HHLR的十大重仓股中依然有七只是中概股，一季度清仓后二季度抄底的拼多多被增持逾60万股，持仓跻身前十；同样二季度抄底的阿里三季度也获增持，从第八大重仓股升至第七位；对大全新能源和晶科能源增","content":"<p><html><head></head><body>In the third quarter, seven of Hillhouse Capital's top ten holdings in HHLR were still Chinese concept stocks. Pinduoduo, which sold off its holdings in the first quarter and bought at the bottom in the second quarter, saw its holdings increase by more than 600,000 shares, ranking among the top ten. Similarly, Alibaba, which bought at the bottom in the second quarter, also saw an increase in its holdings in the third quarter, rising from its eighth largest holding to seventh. The company increased its stake in both Daquan New Energy and Jinko Solar by more than 10%. I sold off my fifth largest holding in the second quarter, Sea, and bought Zoom at the bottom. In the third quarter of this year, the US stock market fell for the third consecutive quarter, but Hillhouse Capital continued its investment focus in the second quarter, remaining optimistic about Chinese assets. Chinese concept stocks maintained a high proportion of 70% of its top ten holdings, and continued to bet on the new energy sector.</p><p>On Monday, November 14, Eastern Time, HHLR Advisors, a fund management firm under Hillhouse Capital specializing in secondary investments, announced a 13F filing with the U.S. Securities and Exchange Commission. The filing shows that in the third quarter, HHLR made concentrated adjustments and allocations around Chinese concept stocks and new energy stocks. It reduced its holdings in primary market companies such as Full Truck Alliance, locked in profits, and increased its holdings in nine Chinese concept stocks, including Pinduoduo and Legend Biotech, by increasing its holdings and making new purchases.</p><p>Meanwhile, HHLR remains optimistic about new energy and has increased its holdings in Daquan New Energy and Jinko Solar.</p><p>Similar to the second quarter, Chinese concept stocks accounted for seven of the top ten holdings.</p><p>As of the end of the third quarter, HHLR's top ten holdings were:</p><p>1. BeiGene (BGNE); II. Cloud software giant Salesforce (code CRM); 3. JD.com (JD); IV. DoorDash (DASH), the \"American version of Meituan\"; V. Legendary Creatures (LEGN); VI. Beike Find a House (BEKE); 7. Alibaba (BABA); 8. Vipshop (VIPS); 9. Biotechnology company Cytek (CTKB); 10. Pinduoduo (PDD). As in the second quarter, seven of the top ten holdings are still Chinese concept stocks. Among them, Legendary Bio's ranking rose from seventh to fifth in the second quarter, Beike Zhaofang, which newly entered the top ten in the second quarter, rose from ninth to sixth, Alibaba rose from eighth to seventh, and Pinduoduo newly entered the top ten. JD.com dropped from second to third place, and Vipshop dropped from sixth to eighth. Daquan New Energy (DQ), a new face among the top ten holdings in the second quarter, failed to maintain its position in the top ten.</p><p>Overall, Chinese concept stocks accounted for more than 60% of HHLR's total US stock holdings in the third quarter. Meanwhile, HHLR increased its holdings in nine Chinese concept stocks in the third quarter, including increasing its holdings and making new purchases, further demonstrating the HHLR investment team's optimism about Chinese assets.</p><p>In addition to JD.com, HHLR also reduced its holdings in Perfect Diary in the third quarter and continued to reduce its holdings in On Holding (ONON), the parent company of Full Truck Alliance and the Swiss sports shoe brand On Onrun. It is understood that these companies were investments made by Hillhouse Capital in the primary market, which is a normal reduction and exit of holdings by the fund.</p><p>After buying Alibaba and Pinduoduo at rock-bottom prices in the second quarter, they increased their holdings again in the third quarter</p><p>Wall Street Insights noted that HHLR significantly reduced its holdings in Pinduoduo by 92% in the fourth quarter of last year, completely liquidated its holdings in the first quarter of this year, and rebuilt its position in Pinduoduo in the second quarter. Alibaba, along with Pinduoduo, was also \"bought at the bottom\" by HHLR in the second quarter. In the third quarter, HHLR further increased its holdings in these two leading Chinese concept stocks.</p><p>In the third quarter, HHLR increased its holdings in Pinduoduo by more than 600,000 shares, a 1.56% increase compared to the second quarter, with a total holding value of over $125 million. Alibaba also increased its holdings by nearly 350,000 shares, bringing its holdings to nearly $224 million.</p><p>It is worth noting that in the third quarter, Bridgewater Associates, the world's largest hedge fund, and Greenwoods Asset Management, a private equity firm with assets exceeding 100 billion yuan, both increased their holdings in Pinduoduo</p><p>Among them, Greenwoods significantly increased its holdings in Pinduoduo by 1.23 million shares, a surge of 61% compared to the second quarter, with a market value of US$203 million. Pinduoduo also jumped to Greenwoods' second largest holding in the third quarter, second only to Beike, the largest holding with a value of US$286 million.</p><p>Besides Pinduoduo and Beike, Greenwood's top ten holdings in the third quarter also included six Chinese concept stocks: NetEase, JD.com, Full Truck Alliance, ZTO Express, Futu Holdings, and Kanzhun.com, which operates Boss Zhipin. The only two non-Chinese concept stocks are Sea Ltd (SE), a \"Southeast Asian mini-Tencent\" with Tencent as its major shareholder, and DoorDash.</p><p>In the third quarter, Bridgewater Associates' holdings in Pinduoduo increased by 5% quarter-on-quarter, with a market value of $317 million, making it Bridgewater's 12th largest holding in the US stock market. During the quarter, Bridgewater also increased its holdings in Nio, a new electric vehicle manufacturer, with its shareholding increasing by 6% quarter-on-quarter. Even though Nio' stock price fell by nearly 28% in the third quarter, it did not prevent Bridgewater Associates from bucking the trend and increasing its holdings.</p><p>I sold off my fifth largest holding in the second quarter, Sea, and bought Zoom at the bottom.</p><p>By the end of the second quarter of this year, HHLR still held 4.36 million shares of Sea Ltd (SE), worth more than $290 million. By the third quarter, HHLR had liquidated its Sea inventory. Sea was also the stock with the largest adjustment in HHLR in the third quarter. As of Monday's close, Sea's stock price, which is listed in the US, has fallen by nearly 80% in the first three quarters of this year.</p><p>HHLR has again increased its position in Zoom, buying 420,000 shares of Zoom, with a market value of over $30.9 million.</p><p>According to public information, Hillhouse Capital invested in Zoom in the primary market in 2014 and went public in 2019. Due to the impact of the pandemic, Zoom's stock price soared by nearly 400% in 2020, and Zoom became another representative of Hillhouse Capital's ten-fold stock. After holding it for 7 years, HHLR began to gradually reduce its holdings in Zoom. HHLR once again bought Zoom at a low price to build a position.</p><p>Public information shows that Zoom's stock price fell to $70 in the third quarter of this year, near its historical low.</p><p>Also in the third quarter, Cathie Wood, nicknamed \"Sister Wood,\" also bought Zoom. Public information shows that two funds from Ark Invest, an investment company under Sister Wood, bought more than 800,000 shares of Zoom stock in August.</p><p>New energy remains a major holding, with both Daquan New Energy and Jinko Solar increasing their holdings by more than 10%.</p><p>In the third quarter, HHLR continued its investment logic in technology and new energy.</p><p>In terms of technology investment, HHLR continued to increase its holdings in Salesforce, Microsoft, and Amazon in the third quarter, with Salesforce becoming HHLR's second largest holding in the third quarter.</p><p>In the new energy sector, HHLR continued to increase its investment in two photovoltaic industry chain companies, Daquan New Energy and Jinko Solar Holdings, in the third quarter, increasing its holdings by 215,000 shares and 151,000 shares respectively, representing an increase of more than 11% and 13% compared to the end of the second quarter.</p><p>As previously mentioned by Wall Street Insights, Daquan New Energy was HHLR's tenth largest holding in the second quarter. In the second quarter, HHLR not only built a position in Jinko New Energy, but also bought a large number of 1.14 million shares, with a market value of nearly $79 million in the quarter, ranking 16th.</p><p></body></html></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Remaining optimistic about Chinese assets, Hillhouse Capital HHLR increased its holdings in Pinduoduo and significantly increased its holdings in two Chinese concept new energy stocks in the third quarter.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRemaining optimistic about Chinese assets, Hillhouse Capital HHLR increased its holdings in Pinduoduo and significantly increased its holdings in two Chinese concept new energy stocks in the third quarter.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-11-15 07:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>In the third quarter, seven of Hillhouse Capital's top ten holdings in HHLR were still Chinese concept stocks. Pinduoduo, which sold off its holdings in the first quarter and bought at the bottom in the second quarter, saw its holdings increase by more than 600,000 shares, ranking among the top ten. Similarly, Alibaba, which bought at the bottom in the second quarter, also saw an increase in its holdings in the third quarter, rising from its eighth largest holding to seventh. The company increased its stake in both Daquan New Energy and Jinko Solar by more than 10%. I sold off my fifth largest holding in the second quarter, Sea, and bought Zoom at the bottom. In the third quarter of this year, the US stock market fell for the third consecutive quarter, but Hillhouse Capital continued its investment focus in the second quarter, remaining optimistic about Chinese assets. Chinese concept stocks maintained a high proportion of 70% of its top ten holdings, and continued to bet on the new energy sector.</p><p>On Monday, November 14, Eastern Time, HHLR Advisors, a fund management firm under Hillhouse Capital specializing in secondary investments, announced a 13F filing with the U.S. Securities and Exchange Commission. The filing shows that in the third quarter, HHLR made concentrated adjustments and allocations around Chinese concept stocks and new energy stocks. It reduced its holdings in primary market companies such as Full Truck Alliance, locked in profits, and increased its holdings in nine Chinese concept stocks, including Pinduoduo and Legend Biotech, by increasing its holdings and making new purchases.</p><p>Meanwhile, HHLR remains optimistic about new energy and has increased its holdings in Daquan New Energy and Jinko Solar.</p><p>Similar to the second quarter, Chinese concept stocks accounted for seven of the top ten holdings.</p><p>As of the end of the third quarter, HHLR's top ten holdings were:</p><p>1. BeiGene (BGNE); II. Cloud software giant Salesforce (code CRM); 3. JD.com (JD); IV. DoorDash (DASH), the \"American version of Meituan\"; V. Legendary Creatures (LEGN); VI. Beike Find a House (BEKE); 7. Alibaba (BABA); 8. Vipshop (VIPS); 9. Biotechnology company Cytek (CTKB); 10. Pinduoduo (PDD). As in the second quarter, seven of the top ten holdings are still Chinese concept stocks. Among them, Legendary Bio's ranking rose from seventh to fifth in the second quarter, Beike Zhaofang, which newly entered the top ten in the second quarter, rose from ninth to sixth, Alibaba rose from eighth to seventh, and Pinduoduo newly entered the top ten. JD.com dropped from second to third place, and Vipshop dropped from sixth to eighth. Daquan New Energy (DQ), a new face among the top ten holdings in the second quarter, failed to maintain its position in the top ten.</p><p>Overall, Chinese concept stocks accounted for more than 60% of HHLR's total US stock holdings in the third quarter. Meanwhile, HHLR increased its holdings in nine Chinese concept stocks in the third quarter, including increasing its holdings and making new purchases, further demonstrating the HHLR investment team's optimism about Chinese assets.</p><p>In addition to JD.com, HHLR also reduced its holdings in Perfect Diary in the third quarter and continued to reduce its holdings in On Holding (ONON), the parent company of Full Truck Alliance and the Swiss sports shoe brand On Onrun. It is understood that these companies were investments made by Hillhouse Capital in the primary market, which is a normal reduction and exit of holdings by the fund.</p><p>After buying Alibaba and Pinduoduo at rock-bottom prices in the second quarter, they increased their holdings again in the third quarter</p><p>Wall Street Insights noted that HHLR significantly reduced its holdings in Pinduoduo by 92% in the fourth quarter of last year, completely liquidated its holdings in the first quarter of this year, and rebuilt its position in Pinduoduo in the second quarter. Alibaba, along with Pinduoduo, was also \"bought at the bottom\" by HHLR in the second quarter. In the third quarter, HHLR further increased its holdings in these two leading Chinese concept stocks.</p><p>In the third quarter, HHLR increased its holdings in Pinduoduo by more than 600,000 shares, a 1.56% increase compared to the second quarter, with a total holding value of over $125 million. Alibaba also increased its holdings by nearly 350,000 shares, bringing its holdings to nearly $224 million.</p><p>It is worth noting that in the third quarter, Bridgewater Associates, the world's largest hedge fund, and Greenwoods Asset Management, a private equity firm with assets exceeding 100 billion yuan, both increased their holdings in Pinduoduo</p><p>Among them, Greenwoods significantly increased its holdings in Pinduoduo by 1.23 million shares, a surge of 61% compared to the second quarter, with a market value of US$203 million. Pinduoduo also jumped to Greenwoods' second largest holding in the third quarter, second only to Beike, the largest holding with a value of US$286 million.</p><p>Besides Pinduoduo and Beike, Greenwood's top ten holdings in the third quarter also included six Chinese concept stocks: NetEase, JD.com, Full Truck Alliance, ZTO Express, Futu Holdings, and Kanzhun.com, which operates Boss Zhipin. The only two non-Chinese concept stocks are Sea Ltd (SE), a \"Southeast Asian mini-Tencent\" with Tencent as its major shareholder, and DoorDash.</p><p>In the third quarter, Bridgewater Associates' holdings in Pinduoduo increased by 5% quarter-on-quarter, with a market value of $317 million, making it Bridgewater's 12th largest holding in the US stock market. During the quarter, Bridgewater also increased its holdings in Nio, a new electric vehicle manufacturer, with its shareholding increasing by 6% quarter-on-quarter. Even though Nio' stock price fell by nearly 28% in the third quarter, it did not prevent Bridgewater Associates from bucking the trend and increasing its holdings.</p><p>I sold off my fifth largest holding in the second quarter, Sea, and bought Zoom at the bottom.</p><p>By the end of the second quarter of this year, HHLR still held 4.36 million shares of Sea Ltd (SE), worth more than $290 million. By the third quarter, HHLR had liquidated its Sea inventory. Sea was also the stock with the largest adjustment in HHLR in the third quarter. As of Monday's close, Sea's stock price, which is listed in the US, has fallen by nearly 80% in the first three quarters of this year.</p><p>HHLR has again increased its position in Zoom, buying 420,000 shares of Zoom, with a market value of over $30.9 million.</p><p>According to public information, Hillhouse Capital invested in Zoom in the primary market in 2014 and went public in 2019. Due to the impact of the pandemic, Zoom's stock price soared by nearly 400% in 2020, and Zoom became another representative of Hillhouse Capital's ten-fold stock. After holding it for 7 years, HHLR began to gradually reduce its holdings in Zoom. HHLR once again bought Zoom at a low price to build a position.</p><p>Public information shows that Zoom's stock price fell to $70 in the third quarter of this year, near its historical low.</p><p>Also in the third quarter, Cathie Wood, nicknamed \"Sister Wood,\" also bought Zoom. Public information shows that two funds from Ark Invest, an investment company under Sister Wood, bought more than 800,000 shares of Zoom stock in August.</p><p>New energy remains a major holding, with both Daquan New Energy and Jinko Solar increasing their holdings by more than 10%.</p><p>In the third quarter, HHLR continued its investment logic in technology and new energy.</p><p>In terms of technology investment, HHLR continued to increase its holdings in Salesforce, Microsoft, and Amazon in the third quarter, with Salesforce becoming HHLR's second largest holding in the third quarter.</p><p>In the new energy sector, HHLR continued to increase its investment in two photovoltaic industry chain companies, Daquan New Energy and Jinko Solar Holdings, in the third quarter, increasing its holdings by 215,000 shares and 151,000 shares respectively, representing an increase of more than 11% and 13% compared to the end of the second quarter.</p><p>As previously mentioned by Wall Street Insights, Daquan New Energy was HHLR's tenth largest holding in the second quarter. In the second quarter, HHLR not only built a position in Jinko New Energy, but also bought a large number of 1.14 million shares, with a market value of nearly $79 million in the quarter, ranking 16th.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3674959\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/890dd2dfb205aa8aa1d140672304b3c8","relate_stocks":{"09988":"阿里巴巴-W","JKS":"晶科能源","DQ":"大全新能源","SE":"Sea Ltd","ZM":"Zoom","BABA":"阿里巴巴","PDD":"拼多多"},"source_url":"https://wallstreetcn.com/articles/3674959","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195286651","content_text":"三季度高瓴HHLR的十大重仓股中依然有七只是中概股，一季度清仓后二季度抄底的拼多多被增持逾60万股，持仓跻身前十；同样二季度抄底的阿里三季度也获增持，从第八大重仓股升至第七位；对大全新能源和晶科能源增持股数均超过10%；清仓二季度第五大重仓股Sea，抄底Zoom。今年第三季度，美股大盘连续第三季累计下跌，但高瓴资本延续了二季度的投资重点，继续看好中国资产，中概股在十大重仓股中保持着七成的高占比，而且继续押注新能源领域。美东时间11月14日周一，高瓴资本旗下专攻二级投资的基金管理机构HHLR Advisors公布递交美国证监会的13F文件，显示HHLR三季度围绕中概股和新能源进行集中调整和配置，减持满帮等一级市场投资的公司，锁定收益，对拼多多、传奇生物等9只中概股进行了增持、新进买入等加仓操作。同时，HHLR继续看好新能源，加仓大全新能源与晶科能源。和二季度一样 十大重仓股中 中概股占七席截至三季度末，HHLR的十大重仓股分别是：一、百济神州（BGNE）； 二、云软件巨头赛富时（Salesforce、代码CRM）；三、京东（JD）；四、“美版美团”DoorDash（DASH）；五、传奇生物（LEGN）；六、贝壳找房（BEKE）；七、阿里巴巴（BABA）；八、唯品会（VIPS）；九、生物科技公司Cytek（CTKB）；十、拼多多（PDD）。和二季度一样，十大重仓股中仍有七只是中概股，其中，传奇生物的排名从二季度的第七位升至第五位，二季度新晋前十的贝壳找房从第九位升至第六位，阿里从第八位升至第七位，拼多多新晋前十；而京东从第二位降至第三位，唯品会从第六位降至第八位，二季度十大重仓股中的新面孔——大全新能源（DQ）未能保住前十的地位。整体看，在HHLR三季度全部美股持仓中，中概股合计持有市值占比超过60%，同时HHLR在三季度共对9只中概股进行了增持、新进买入等加仓操作，继续表明了HHLR投资团队对中国资产的看好。除了京东，HHLR三季度还减持了完美日记、继续减持满帮和瑞士运动鞋品牌On 昂跑的母公司On Holding（ONON）。据了解，这几家公司是高瓴在一级市场进行的投资，属于基金正常减持退出。二季度抄底阿里和拼多多后 三季度又增持华尔街见闻注意到，HHLR去年四季度大幅减持92%的所持拼多多股票，今年一季度彻底清仓，二季度再度建仓拼多多。二季度和拼多多一道被HHLR“抄底”的还有阿里巴巴。三季度，HHLR进一步增持这两只中概龙头。三季度HHLR增持拼多多超过60万股，相比二季度持股数增加1.56%，总持仓价值超过1.25亿美元，阿里增持将近35万股，持仓接近2.24亿美元。值得注意的是，三季度，全球最大对冲基金桥水基金和千亿私募景林资产都加仓了拼多多。其中景林大举加仓拼多多，增持123万股，持股数较二季度激增61%，持仓市值为2.03亿美元，拼多多也跃升至景林三季度的第二大重仓股，仅次于持仓价值2.86亿美元的最大重仓股贝壳。除了拼多多和贝壳外，景林三季度的十大重仓股中，还有网易、京东、满帮、中通快递、富途控股、经营Boss直聘的看准网六只中概。唯二的两只非中概股分别是，腾讯为大股东的“东南亚小腾讯”Sea Ltd（SE）以及DoorDash。三季度桥水基金对拼多多的持股数量环比增长5%，拼多多持仓市值3.17亿美元，成为桥水美股的第12大重仓股。当季，造车新势力蔚来也获得桥水增持，持股数量环比增加6%。即便蔚来股价三季度累计下跌近28%，也未阻碍桥水基金逆势加仓。清仓二季度第五大重仓股Sea 抄底Zoom到今年二季度末，HHLR还持有Sea Ltd（SE）436万股，价值逾2.9亿美元。到了三季度，HHLR将Sea清仓。Sea也是三季度HHLR调整最大的重仓股。截至本周一收盘，今年前三季度，在美上市的Sea股价已经累计下跌将近80%。HHLR再度建仓Zoom，买进42万股Zoom，市值超过3090万美元。资料显示，高瓴在2014年便在一级市场投资Zoom，2019年上市。受疫情影响，Zoom在2020年股价飙涨近400%，Zoom也成为高瓴又一个十倍股的代表。持有7年后，HHLR开始陆续减持Zoom。此次HHLR再次低位买入Zoom建仓。公开信息显示，今年三季度Zoom股价跌向70美元的水平，接近历史最低水平。同在三季度，“木头姐”Cathie Wood也出手买入了Zoom。公开信息显示，木头姐旗下投资公司Ark Invest的两只基金8月买入逾80万股Zoom股票。新能源依旧是重仓方向 大全新能源和晶科能源均增持超过10%三季度，HHLR延续了对科技和新能源的投资逻辑。科技投资方向上，HHLR在三季度对赛富时、微软、亚马逊继续增持，赛富时在三季度也成为了HHLR的第二大重仓股。新能源方向上，HHLR在三季度继续加大了对大全新能源和晶科能源控股两只光伏产业链企业的投资力度，分别加仓21.5万股和15.1万股，持股数分别较二季度末增长超过11%和13%。华尔街见闻此前提到，大全新能源是HHLR二季度第十大重仓股，二季度HHLR不但建仓晶科新能源，而且大举买入114万股，持仓当季市值将近7900万美元，处于第16位。","news_type":1,"symbols_score_info":{"09988":0.9,"JKS":0.9,"SE":0.9,"PDD":0.9,"DQ":0.9,"ZM":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":1759,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":667056952,"gmtCreate":1668469607078,"gmtModify":1676538060303,"author":{"id":"4094963079349400","authorId":"4094963079349400","name":"JustinHou","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4094963079349400","authorIdStr":"4094963079349400"},"themes":[],"title":"","htmlText":"so？","listText":"so？","text":"so？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/667056952","repostId":"1195286651","repostType":2,"repost":{"id":"1195286651","kind":"news","pubTimestamp":1668468085,"share":"https://ttm.financial/m/news/1195286651?lang=en_US&edition=fundamental","pubTime":"2022-11-15 07:21","market":"sh","language":"zh","title":"Remaining optimistic about Chinese assets, Hillhouse Capital HHLR increased its holdings in Pinduoduo and significantly increased its holdings in two Chinese concept new energy stocks in the third quarter.","url":"https://stock-news.laohu8.com/highlight/detail?id=1195286651","media":"华尔街见闻","summary":"三季度高瓴HHLR的十大重仓股中依然有七只是中概股，一季度清仓后二季度抄底的拼多多被增持逾60万股，持仓跻身前十；同样二季度抄底的阿里三季度也获增持，从第八大重仓股升至第七位；对大全新能源和晶科能源增","content":"<p><html><head></head><body>In the third quarter, seven of Hillhouse Capital's top ten holdings in HHLR were still Chinese concept stocks. Pinduoduo, which sold off its holdings in the first quarter and bought at the bottom in the second quarter, saw its holdings increase by more than 600,000 shares, ranking among the top ten. Similarly, Alibaba, which bought at the bottom in the second quarter, also saw an increase in its holdings in the third quarter, rising from its eighth largest holding to seventh. The company increased its stake in both Daquan New Energy and Jinko Solar by more than 10%. I sold off my fifth largest holding in the second quarter, Sea, and bought Zoom at the bottom. In the third quarter of this year, the US stock market fell for the third consecutive quarter, but Hillhouse Capital continued its investment focus in the second quarter, remaining optimistic about Chinese assets. Chinese concept stocks maintained a high proportion of 70% of its top ten holdings, and continued to bet on the new energy sector.</p><p>On Monday, November 14, Eastern Time, HHLR Advisors, a fund management firm under Hillhouse Capital specializing in secondary investments, announced a 13F filing with the U.S. Securities and Exchange Commission. The filing shows that in the third quarter, HHLR made concentrated adjustments and allocations around Chinese concept stocks and new energy stocks. It reduced its holdings in primary market companies such as Full Truck Alliance, locked in profits, and increased its holdings in nine Chinese concept stocks, including Pinduoduo and Legend Biotech, by increasing its holdings and making new purchases.</p><p>Meanwhile, HHLR remains optimistic about new energy and has increased its holdings in Daquan New Energy and Jinko Solar.</p><p>Similar to the second quarter, Chinese concept stocks accounted for seven of the top ten holdings.</p><p>As of the end of the third quarter, HHLR's top ten holdings were:</p><p>1. BeiGene (BGNE); II. Cloud software giant Salesforce (code CRM); 3. JD.com (JD); IV. DoorDash (DASH), the \"American version of Meituan\"; V. Legendary Creatures (LEGN); VI. Beike Find a House (BEKE); 7. Alibaba (BABA); 8. Vipshop (VIPS); 9. Biotechnology company Cytek (CTKB); 10. Pinduoduo (PDD). As in the second quarter, seven of the top ten holdings are still Chinese concept stocks. Among them, Legendary Bio's ranking rose from seventh to fifth in the second quarter, Beike Zhaofang, which newly entered the top ten in the second quarter, rose from ninth to sixth, Alibaba rose from eighth to seventh, and Pinduoduo newly entered the top ten. JD.com dropped from second to third place, and Vipshop dropped from sixth to eighth. Daquan New Energy (DQ), a new face among the top ten holdings in the second quarter, failed to maintain its position in the top ten.</p><p>Overall, Chinese concept stocks accounted for more than 60% of HHLR's total US stock holdings in the third quarter. Meanwhile, HHLR increased its holdings in nine Chinese concept stocks in the third quarter, including increasing its holdings and making new purchases, further demonstrating the HHLR investment team's optimism about Chinese assets.</p><p>In addition to JD.com, HHLR also reduced its holdings in Perfect Diary in the third quarter and continued to reduce its holdings in On Holding (ONON), the parent company of Full Truck Alliance and the Swiss sports shoe brand On Onrun. It is understood that these companies were investments made by Hillhouse Capital in the primary market, which is a normal reduction and exit of holdings by the fund.</p><p>After buying Alibaba and Pinduoduo at rock-bottom prices in the second quarter, they increased their holdings again in the third quarter</p><p>Wall Street Insights noted that HHLR significantly reduced its holdings in Pinduoduo by 92% in the fourth quarter of last year, completely liquidated its holdings in the first quarter of this year, and rebuilt its position in Pinduoduo in the second quarter. Alibaba, along with Pinduoduo, was also \"bought at the bottom\" by HHLR in the second quarter. In the third quarter, HHLR further increased its holdings in these two leading Chinese concept stocks.</p><p>In the third quarter, HHLR increased its holdings in Pinduoduo by more than 600,000 shares, a 1.56% increase compared to the second quarter, with a total holding value of over $125 million. Alibaba also increased its holdings by nearly 350,000 shares, bringing its holdings to nearly $224 million.</p><p>It is worth noting that in the third quarter, Bridgewater Associates, the world's largest hedge fund, and Greenwoods Asset Management, a private equity firm with assets exceeding 100 billion yuan, both increased their holdings in Pinduoduo</p><p>Among them, Greenwoods significantly increased its holdings in Pinduoduo by 1.23 million shares, a surge of 61% compared to the second quarter, with a market value of US$203 million. Pinduoduo also jumped to Greenwoods' second largest holding in the third quarter, second only to Beike, the largest holding with a value of US$286 million.</p><p>Besides Pinduoduo and Beike, Greenwood's top ten holdings in the third quarter also included six Chinese concept stocks: NetEase, JD.com, Full Truck Alliance, ZTO Express, Futu Holdings, and Kanzhun.com, which operates Boss Zhipin. The only two non-Chinese concept stocks are Sea Ltd (SE), a \"Southeast Asian mini-Tencent\" with Tencent as its major shareholder, and DoorDash.</p><p>In the third quarter, Bridgewater Associates' holdings in Pinduoduo increased by 5% quarter-on-quarter, with a market value of $317 million, making it Bridgewater's 12th largest holding in the US stock market. During the quarter, Bridgewater also increased its holdings in Nio, a new electric vehicle manufacturer, with its shareholding increasing by 6% quarter-on-quarter. Even though Nio' stock price fell by nearly 28% in the third quarter, it did not prevent Bridgewater Associates from bucking the trend and increasing its holdings.</p><p>I sold off my fifth largest holding in the second quarter, Sea, and bought Zoom at the bottom.</p><p>By the end of the second quarter of this year, HHLR still held 4.36 million shares of Sea Ltd (SE), worth more than $290 million. By the third quarter, HHLR had liquidated its Sea inventory. Sea was also the stock with the largest adjustment in HHLR in the third quarter. As of Monday's close, Sea's stock price, which is listed in the US, has fallen by nearly 80% in the first three quarters of this year.</p><p>HHLR has again increased its position in Zoom, buying 420,000 shares of Zoom, with a market value of over $30.9 million.</p><p>According to public information, Hillhouse Capital invested in Zoom in the primary market in 2014 and went public in 2019. Due to the impact of the pandemic, Zoom's stock price soared by nearly 400% in 2020, and Zoom became another representative of Hillhouse Capital's ten-fold stock. After holding it for 7 years, HHLR began to gradually reduce its holdings in Zoom. HHLR once again bought Zoom at a low price to build a position.</p><p>Public information shows that Zoom's stock price fell to $70 in the third quarter of this year, near its historical low.</p><p>Also in the third quarter, Cathie Wood, nicknamed \"Sister Wood,\" also bought Zoom. Public information shows that two funds from Ark Invest, an investment company under Sister Wood, bought more than 800,000 shares of Zoom stock in August.</p><p>New energy remains a major holding, with both Daquan New Energy and Jinko Solar increasing their holdings by more than 10%.</p><p>In the third quarter, HHLR continued its investment logic in technology and new energy.</p><p>In terms of technology investment, HHLR continued to increase its holdings in Salesforce, Microsoft, and Amazon in the third quarter, with Salesforce becoming HHLR's second largest holding in the third quarter.</p><p>In the new energy sector, HHLR continued to increase its investment in two photovoltaic industry chain companies, Daquan New Energy and Jinko Solar Holdings, in the third quarter, increasing its holdings by 215,000 shares and 151,000 shares respectively, representing an increase of more than 11% and 13% compared to the end of the second quarter.</p><p>As previously mentioned by Wall Street Insights, Daquan New Energy was HHLR's tenth largest holding in the second quarter. In the second quarter, HHLR not only built a position in Jinko New Energy, but also bought a large number of 1.14 million shares, with a market value of nearly $79 million in the quarter, ranking 16th.</p><p></body></html></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Remaining optimistic about Chinese assets, Hillhouse Capital HHLR increased its holdings in Pinduoduo and significantly increased its holdings in two Chinese concept new energy stocks in the third quarter.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRemaining optimistic about Chinese assets, Hillhouse Capital HHLR increased its holdings in Pinduoduo and significantly increased its holdings in two Chinese concept new energy stocks in the third quarter.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-11-15 07:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>In the third quarter, seven of Hillhouse Capital's top ten holdings in HHLR were still Chinese concept stocks. Pinduoduo, which sold off its holdings in the first quarter and bought at the bottom in the second quarter, saw its holdings increase by more than 600,000 shares, ranking among the top ten. Similarly, Alibaba, which bought at the bottom in the second quarter, also saw an increase in its holdings in the third quarter, rising from its eighth largest holding to seventh. The company increased its stake in both Daquan New Energy and Jinko Solar by more than 10%. I sold off my fifth largest holding in the second quarter, Sea, and bought Zoom at the bottom. In the third quarter of this year, the US stock market fell for the third consecutive quarter, but Hillhouse Capital continued its investment focus in the second quarter, remaining optimistic about Chinese assets. Chinese concept stocks maintained a high proportion of 70% of its top ten holdings, and continued to bet on the new energy sector.</p><p>On Monday, November 14, Eastern Time, HHLR Advisors, a fund management firm under Hillhouse Capital specializing in secondary investments, announced a 13F filing with the U.S. Securities and Exchange Commission. The filing shows that in the third quarter, HHLR made concentrated adjustments and allocations around Chinese concept stocks and new energy stocks. It reduced its holdings in primary market companies such as Full Truck Alliance, locked in profits, and increased its holdings in nine Chinese concept stocks, including Pinduoduo and Legend Biotech, by increasing its holdings and making new purchases.</p><p>Meanwhile, HHLR remains optimistic about new energy and has increased its holdings in Daquan New Energy and Jinko Solar.</p><p>Similar to the second quarter, Chinese concept stocks accounted for seven of the top ten holdings.</p><p>As of the end of the third quarter, HHLR's top ten holdings were:</p><p>1. BeiGene (BGNE); II. Cloud software giant Salesforce (code CRM); 3. JD.com (JD); IV. DoorDash (DASH), the \"American version of Meituan\"; V. Legendary Creatures (LEGN); VI. Beike Find a House (BEKE); 7. Alibaba (BABA); 8. Vipshop (VIPS); 9. Biotechnology company Cytek (CTKB); 10. Pinduoduo (PDD). As in the second quarter, seven of the top ten holdings are still Chinese concept stocks. Among them, Legendary Bio's ranking rose from seventh to fifth in the second quarter, Beike Zhaofang, which newly entered the top ten in the second quarter, rose from ninth to sixth, Alibaba rose from eighth to seventh, and Pinduoduo newly entered the top ten. JD.com dropped from second to third place, and Vipshop dropped from sixth to eighth. Daquan New Energy (DQ), a new face among the top ten holdings in the second quarter, failed to maintain its position in the top ten.</p><p>Overall, Chinese concept stocks accounted for more than 60% of HHLR's total US stock holdings in the third quarter. Meanwhile, HHLR increased its holdings in nine Chinese concept stocks in the third quarter, including increasing its holdings and making new purchases, further demonstrating the HHLR investment team's optimism about Chinese assets.</p><p>In addition to JD.com, HHLR also reduced its holdings in Perfect Diary in the third quarter and continued to reduce its holdings in On Holding (ONON), the parent company of Full Truck Alliance and the Swiss sports shoe brand On Onrun. It is understood that these companies were investments made by Hillhouse Capital in the primary market, which is a normal reduction and exit of holdings by the fund.</p><p>After buying Alibaba and Pinduoduo at rock-bottom prices in the second quarter, they increased their holdings again in the third quarter</p><p>Wall Street Insights noted that HHLR significantly reduced its holdings in Pinduoduo by 92% in the fourth quarter of last year, completely liquidated its holdings in the first quarter of this year, and rebuilt its position in Pinduoduo in the second quarter. Alibaba, along with Pinduoduo, was also \"bought at the bottom\" by HHLR in the second quarter. In the third quarter, HHLR further increased its holdings in these two leading Chinese concept stocks.</p><p>In the third quarter, HHLR increased its holdings in Pinduoduo by more than 600,000 shares, a 1.56% increase compared to the second quarter, with a total holding value of over $125 million. Alibaba also increased its holdings by nearly 350,000 shares, bringing its holdings to nearly $224 million.</p><p>It is worth noting that in the third quarter, Bridgewater Associates, the world's largest hedge fund, and Greenwoods Asset Management, a private equity firm with assets exceeding 100 billion yuan, both increased their holdings in Pinduoduo</p><p>Among them, Greenwoods significantly increased its holdings in Pinduoduo by 1.23 million shares, a surge of 61% compared to the second quarter, with a market value of US$203 million. Pinduoduo also jumped to Greenwoods' second largest holding in the third quarter, second only to Beike, the largest holding with a value of US$286 million.</p><p>Besides Pinduoduo and Beike, Greenwood's top ten holdings in the third quarter also included six Chinese concept stocks: NetEase, JD.com, Full Truck Alliance, ZTO Express, Futu Holdings, and Kanzhun.com, which operates Boss Zhipin. The only two non-Chinese concept stocks are Sea Ltd (SE), a \"Southeast Asian mini-Tencent\" with Tencent as its major shareholder, and DoorDash.</p><p>In the third quarter, Bridgewater Associates' holdings in Pinduoduo increased by 5% quarter-on-quarter, with a market value of $317 million, making it Bridgewater's 12th largest holding in the US stock market. During the quarter, Bridgewater also increased its holdings in Nio, a new electric vehicle manufacturer, with its shareholding increasing by 6% quarter-on-quarter. Even though Nio' stock price fell by nearly 28% in the third quarter, it did not prevent Bridgewater Associates from bucking the trend and increasing its holdings.</p><p>I sold off my fifth largest holding in the second quarter, Sea, and bought Zoom at the bottom.</p><p>By the end of the second quarter of this year, HHLR still held 4.36 million shares of Sea Ltd (SE), worth more than $290 million. By the third quarter, HHLR had liquidated its Sea inventory. Sea was also the stock with the largest adjustment in HHLR in the third quarter. As of Monday's close, Sea's stock price, which is listed in the US, has fallen by nearly 80% in the first three quarters of this year.</p><p>HHLR has again increased its position in Zoom, buying 420,000 shares of Zoom, with a market value of over $30.9 million.</p><p>According to public information, Hillhouse Capital invested in Zoom in the primary market in 2014 and went public in 2019. Due to the impact of the pandemic, Zoom's stock price soared by nearly 400% in 2020, and Zoom became another representative of Hillhouse Capital's ten-fold stock. After holding it for 7 years, HHLR began to gradually reduce its holdings in Zoom. HHLR once again bought Zoom at a low price to build a position.</p><p>Public information shows that Zoom's stock price fell to $70 in the third quarter of this year, near its historical low.</p><p>Also in the third quarter, Cathie Wood, nicknamed \"Sister Wood,\" also bought Zoom. Public information shows that two funds from Ark Invest, an investment company under Sister Wood, bought more than 800,000 shares of Zoom stock in August.</p><p>New energy remains a major holding, with both Daquan New Energy and Jinko Solar increasing their holdings by more than 10%.</p><p>In the third quarter, HHLR continued its investment logic in technology and new energy.</p><p>In terms of technology investment, HHLR continued to increase its holdings in Salesforce, Microsoft, and Amazon in the third quarter, with Salesforce becoming HHLR's second largest holding in the third quarter.</p><p>In the new energy sector, HHLR continued to increase its investment in two photovoltaic industry chain companies, Daquan New Energy and Jinko Solar Holdings, in the third quarter, increasing its holdings by 215,000 shares and 151,000 shares respectively, representing an increase of more than 11% and 13% compared to the end of the second quarter.</p><p>As previously mentioned by Wall Street Insights, Daquan New Energy was HHLR's tenth largest holding in the second quarter. In the second quarter, HHLR not only built a position in Jinko New Energy, but also bought a large number of 1.14 million shares, with a market value of nearly $79 million in the quarter, ranking 16th.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3674959\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/890dd2dfb205aa8aa1d140672304b3c8","relate_stocks":{"09988":"阿里巴巴-W","JKS":"晶科能源","DQ":"大全新能源","SE":"Sea Ltd","ZM":"Zoom","BABA":"阿里巴巴","PDD":"拼多多"},"source_url":"https://wallstreetcn.com/articles/3674959","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195286651","content_text":"三季度高瓴HHLR的十大重仓股中依然有七只是中概股，一季度清仓后二季度抄底的拼多多被增持逾60万股，持仓跻身前十；同样二季度抄底的阿里三季度也获增持，从第八大重仓股升至第七位；对大全新能源和晶科能源增持股数均超过10%；清仓二季度第五大重仓股Sea，抄底Zoom。今年第三季度，美股大盘连续第三季累计下跌，但高瓴资本延续了二季度的投资重点，继续看好中国资产，中概股在十大重仓股中保持着七成的高占比，而且继续押注新能源领域。美东时间11月14日周一，高瓴资本旗下专攻二级投资的基金管理机构HHLR Advisors公布递交美国证监会的13F文件，显示HHLR三季度围绕中概股和新能源进行集中调整和配置，减持满帮等一级市场投资的公司，锁定收益，对拼多多、传奇生物等9只中概股进行了增持、新进买入等加仓操作。同时，HHLR继续看好新能源，加仓大全新能源与晶科能源。和二季度一样 十大重仓股中 中概股占七席截至三季度末，HHLR的十大重仓股分别是：一、百济神州（BGNE）； 二、云软件巨头赛富时（Salesforce、代码CRM）；三、京东（JD）；四、“美版美团”DoorDash（DASH）；五、传奇生物（LEGN）；六、贝壳找房（BEKE）；七、阿里巴巴（BABA）；八、唯品会（VIPS）；九、生物科技公司Cytek（CTKB）；十、拼多多（PDD）。和二季度一样，十大重仓股中仍有七只是中概股，其中，传奇生物的排名从二季度的第七位升至第五位，二季度新晋前十的贝壳找房从第九位升至第六位，阿里从第八位升至第七位，拼多多新晋前十；而京东从第二位降至第三位，唯品会从第六位降至第八位，二季度十大重仓股中的新面孔——大全新能源（DQ）未能保住前十的地位。整体看，在HHLR三季度全部美股持仓中，中概股合计持有市值占比超过60%，同时HHLR在三季度共对9只中概股进行了增持、新进买入等加仓操作，继续表明了HHLR投资团队对中国资产的看好。除了京东，HHLR三季度还减持了完美日记、继续减持满帮和瑞士运动鞋品牌On 昂跑的母公司On Holding（ONON）。据了解，这几家公司是高瓴在一级市场进行的投资，属于基金正常减持退出。二季度抄底阿里和拼多多后 三季度又增持华尔街见闻注意到，HHLR去年四季度大幅减持92%的所持拼多多股票，今年一季度彻底清仓，二季度再度建仓拼多多。二季度和拼多多一道被HHLR“抄底”的还有阿里巴巴。三季度，HHLR进一步增持这两只中概龙头。三季度HHLR增持拼多多超过60万股，相比二季度持股数增加1.56%，总持仓价值超过1.25亿美元，阿里增持将近35万股，持仓接近2.24亿美元。值得注意的是，三季度，全球最大对冲基金桥水基金和千亿私募景林资产都加仓了拼多多。其中景林大举加仓拼多多，增持123万股，持股数较二季度激增61%，持仓市值为2.03亿美元，拼多多也跃升至景林三季度的第二大重仓股，仅次于持仓价值2.86亿美元的最大重仓股贝壳。除了拼多多和贝壳外，景林三季度的十大重仓股中，还有网易、京东、满帮、中通快递、富途控股、经营Boss直聘的看准网六只中概。唯二的两只非中概股分别是，腾讯为大股东的“东南亚小腾讯”Sea Ltd（SE）以及DoorDash。三季度桥水基金对拼多多的持股数量环比增长5%，拼多多持仓市值3.17亿美元，成为桥水美股的第12大重仓股。当季，造车新势力蔚来也获得桥水增持，持股数量环比增加6%。即便蔚来股价三季度累计下跌近28%，也未阻碍桥水基金逆势加仓。清仓二季度第五大重仓股Sea 抄底Zoom到今年二季度末，HHLR还持有Sea Ltd（SE）436万股，价值逾2.9亿美元。到了三季度，HHLR将Sea清仓。Sea也是三季度HHLR调整最大的重仓股。截至本周一收盘，今年前三季度，在美上市的Sea股价已经累计下跌将近80%。HHLR再度建仓Zoom，买进42万股Zoom，市值超过3090万美元。资料显示，高瓴在2014年便在一级市场投资Zoom，2019年上市。受疫情影响，Zoom在2020年股价飙涨近400%，Zoom也成为高瓴又一个十倍股的代表。持有7年后，HHLR开始陆续减持Zoom。此次HHLR再次低位买入Zoom建仓。公开信息显示，今年三季度Zoom股价跌向70美元的水平，接近历史最低水平。同在三季度，“木头姐”Cathie Wood也出手买入了Zoom。公开信息显示，木头姐旗下投资公司Ark Invest的两只基金8月买入逾80万股Zoom股票。新能源依旧是重仓方向 大全新能源和晶科能源均增持超过10%三季度，HHLR延续了对科技和新能源的投资逻辑。科技投资方向上，HHLR在三季度对赛富时、微软、亚马逊继续增持，赛富时在三季度也成为了HHLR的第二大重仓股。新能源方向上，HHLR在三季度继续加大了对大全新能源和晶科能源控股两只光伏产业链企业的投资力度，分别加仓21.5万股和15.1万股，持股数分别较二季度末增长超过11%和13%。华尔街见闻此前提到，大全新能源是HHLR二季度第十大重仓股，二季度HHLR不但建仓晶科新能源，而且大举买入114万股，持仓当季市值将近7900万美元，处于第16位。","news_type":1,"symbols_score_info":{"09988":0.9,"JKS":0.9,"SE":0.9,"PDD":0.9,"DQ":0.9,"ZM":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":1759,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}