Jinglin Asset, a domestic private equity giant worth hundreds of billions, has just disclosed its latest holdings in the US stock market!
GREENWOODS ASSET MANAGEMENT HONG KONG LTD, an overseas subsidiary of Jinglin Asset, recently submitted US stock holdings data to the US Securities and Exchange Commission as of the end of the third quarter of 2023. Its total US stock market value was 2.549 billion US dollars (approximately RMB 18.588 billion), a significant increase from the previous quarter.
In the third quarter of this year, Jinglin Hong Kong Company significantly increased its holdings in multiple Chinese concept stocks, including Pinduoduo, Zhongtong Express, Zhiwen Group, etc. Pinduoduo remains its top heavy holdings, with a market value of up to 506 million US dollars; It has also increased its holdings in multiple technology stocks in fields such as AI, including Microsoft, Facebook parent company Meta, Google, and others; We have recently joined international smart small home appliance companies SharkInnja and Tesla, which have just gone public. We have also bought back Southeast Asian Tencent Sea. However, Jinglin reduced its holdings in stocks such as NetEase, New Oriental, Doordash, and cleared its positions in stocks such as Chaowei Semiconductor, Booking, and Lulu Lemon.
The fund manager also learned from the channel the latest views of Jinglin Asset, which is optimistic about companies in the field of artificial intelligence software and landing applications, while also focusing on high-quality companies in the consumer field.
The market value of Jinglin's holdings in the US stock market reached 2.549 billion US dollars
The top ten heavyweight stocks account for nearly 87%
According to the latest 13F document just disclosed by the US Securities and Exchange Commission (SEC), as of September 30 this year, Jinglin Asset Management Hong Kong Limited held 31 securities in the US stock market at the end of the third quarter, with a total market value of 2.549 billion US dollars (approximately 18.588 billion yuan), a significant increase from the end of the second quarter. Among them, Jinglin Hong Kong Company purchased 8 new securities and increased its holdings of 5 securities in the third quarter of this year; At the same time, 5 securities were cleared and 12 securities were reduced.
The fund manager would like to clarify that 13F discloses the US stock positions directly held by overseas entities of Jinglin, excluding the US stock positions of domestic entities and products.
Data shows that by the end of the third quarter of this year, Jinglin Hong Kong's top ten holdings in the US stock market had a total market value of 2.215 billion US dollars, accounting for 86.87% of its total US stock market value, and its shareholding concentration was relatively high.
Specifically, at the end of the third quarter, the top ten heavy holdings of Jinglin Hong Kong's US stocks were Pinduoduo, Facebook parent company Meta, Microsoft, NetEase, China Express, SharkInnja, New Oriental, Google parent company Alphabet, Doordash, and Futu Holdings; Among them, the single holding market value of the top 8 stocks exceeded $100 million.
Jinglin's massive increase in inventory and Pinduoduo
The largest holdings with a market value exceeding $500 million
Specifically, Pinduoduo, an internet e-commerce platform, remains Jinglin Hong Kong's largest holding, with an additional 457000 shares in the third quarter. At the end of the period, its holdings increased to 5.1586 million shares, with a market value of 506 million US dollars, ahead of other holdings.
From the perspective of stock price performance, after experiencing adjustments in the first half of the year, Pinduoduo's stock price has started a rebound mode from late May this year. Although the volatility during this process is still not small, the overall volatility is upward. As of the latest closing price of 108.33 US dollars per share, it has risen by 32.84% this year, and the latest total market value is 143.9 billion US dollars.
In the past year, the cross-border e-commerce brand Temu under Pinduoduo has developed rapidly overseas. This week, Wang Jian, Senior Vice President of Pinduoduo, stated at the 2023 World Internet Conference that Pinduoduo's cross-border business launched in September 2022 empowers overseas business with new technologies. Over the past year, Duoduo has promoted high-quality manufacturing products across borders to over 40 countries in North America, Australia, Europe, and Asia.
Jinglin continues to increase its holdings in AI companies
Technology giant Microsoft also received an additional 869300 shares from Jinglin Hong Kong, increasing its holdings to 1.1806 million shares at the end of the period, with a market value of 373 million US dollars, making it the third largest heavy position. From the perspective of stock price performance, Microsoft has seen an overall increase of over 50% this year. The stock has been rising from around $219 at the beginning of this year to $360.69 per share as of the latest close, with a total market value of $2.68 trillion, just one step away from Apple's $2.84 trillion market value.
The outstanding performance is the reason why Microsoft's stock price has risen this year. Some portfolio managers have commented that Microsoft has a resilient business model and is executing very well; It is a clear winner in the field of artificial intelligence. And as global technology companies compete to lay out generative AI products, the demand for Microsoft's Azure cloud computing services is extremely strong among major enterprises.
Facebook parent company Meta also received an additional stake from Jinglin, increasing its holdings to 1.2457 million shares, with a market value of $374 million at the end of the period, ranking second in terms of heavy holdings. In addition, it has also newly acquired Google's parent company Alphabet, purchasing 887900 shares with a market value of $116 million at the end of the period.
Newly purchased international intelligent small home appliance company
Increase holdings in Google, Truss, Sea, etc
It is worth noting that SharkInnja, the latest home appliance company purchased by Jinglin Hong Kong, just went public on the New York Stock Exchange at the end of July this year. SharkInnja is a spinoff listing of JS Global Life, the parent company of Jiuyang Group. Jinglin purchased 2.9355 million shares of the stock in the third quarter of this year, with a market value of $136 million at the end of the period.
It is reported that SharkInnja is an international intelligent small home appliance company, with two major brands: Shark and Ninja. The Shark brand covers floor care, personal care, and home purification products, while the Ninja brand covers various types of small kitchen appliances and kitchenware.
Jinglin Hong Kong Company increased its holdings of multiple Chinese concept stocks in the third quarter of this year, including an increase of 2.2314 million shares in Zhongtong Express. At the end of the period, its holdings increased to 7.3394 million shares, with a market value of 177 million US dollars; We increased our holdings on the mobile social media platform Zhiwen Group to 3.2869 million shares, with a market value of $22.9427 million at the end of the period.
It is worth mentioning that in the third quarter of this year, Jinglin bought back Southeast Asian Tencent Sea again, holding 77100 shares at the end of the period with a market value of 3.3882 million US dollars. The company mainly engages in online games, e-commerce and other businesses. The stock price of Sea has rebounded since late August.
In addition, Jinglin Hong Kong has also added multiple stocks, including Tesla, VISA, Mingchuang Youpin, Boston Science, and Thermo Fisher Scientific.
However, Jinglin Hong Kong Company has reduced its holdings in multiple stocks such as NetEase, New Oriental, Doordash, BOSS Direct Hire, NVIDIA, Qualcomm, etc; We have settled our positions with Chaowei Semiconductor, Booking, Lulu Lemon, Grab, and Xiaoying Technology.
Optimistic about software and application companies in the AI field
Pay attention to high-quality companies in the consumer industry
Overall, in the third quarter of this year, Jinglin Hong Kong mainly increased its holdings in companies related to AI software and landing applications, as well as consumer related enterprises in the US stock market.
The fund manager also learned from the channel the latest investment research viewpoint of Gao Yuncheng, the general manager of Jinglin Asset.
Regarding the field of artificial intelligence, Gao Yuncheng stated that the company has seen a new round of technological revolution very clearly and has not missed the opportunity of artificial intelligence (AI). Seeing another technological revolution happening, this revolution may bring humanity into a completely new era: the era of artificial intelligence. AI technology will change the supply of almost everyone, all organizational systems, and the entire productivity. In the long run, artificial intelligence will change many industries. The implementation and application of AI will be our key research direction
Regarding the consumer sector, Gao Yuncheng candidly stated that after several years of epidemic and economic growth slowdown, he has indeed seen some interruptions or downturns in the overall trend of consumer upgrading. But if segmented, it will be found that some more rational consumer goods, more segmented consumer fields, and more self caring consumption have seen rapid growth. For example, in the past few years, the coffee and tea market in China has grown very fast, and the happiness brought by coffee or tea is a reward for oneself, a new consumption trend; Moreover, in various shopping centers, more and more leisure and sports brands are replacing formal and grand clothing, which may also reflect that people are more self appreciative and self satisfied, and pay more attention to their own experience and health; In addition, after the epidemic, outdoor camping products sold particularly well; During the National Day holiday, there was a record high number of trips, but per capita expenses did not increase, indicating that people's willingness to travel is still very strong.
So, currently we are seeing consumption becoming more rational and layered, which has led us to make significant choices in investing in listed companies. More affordable platforms and products have attracted more consumers, "said Gao Yuncheng.
Finally, the fund manager has compiled the US stock holdings data of Jinglin Hong Kong Company at the end of the third quarter of this year, which friends can take a look at.