Performance vs S&P 500

03
Tracked Q1 2025–Q3 2025 +13.8%
S&P 500 total return (same window) +21.3%
Excess return -7.5%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 91.6% · Options excluded: 0.0%

Sector breakdown

04
Financials 55.8%
Consumer Discretionary 42.1%
Communication Services 2.1%

Full portfolio 4 positions

05
Type Streak 8Q trend
LU Lufax Holding Ltd American Depositary Shares, each representing two (2) Ordinary Shares $2,088,151 44.08% 514,323 $1,046,558 Up ×2
ATAT Atour Lifestyle Holdings Limited - American Depositary Shares $1,996,555 42.14% 53,114 $-2,053,996 Down ×1
FINV FinVolution Group American Depositary Shares $553,310 11.68% 75,076 $-1,164,542 Down ×3
JOYY JOYY Inc. - American Depositary Shares $99,637 2.10% 1,700 $13,090

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
ATAT Trimmed -71K -$2.1M
FINV Trimmed -106K -$1.2M
LU Bought more +141K +$1.0M
JOYY Price move only +0 +$13K

Exited positions

11

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarterShares beforeValue beforePrice since exit
DADA June 30, 2025 1,077,081 $1,992,600 No longer tracked
PDD Sept. 30, 2025 1,000 $104,660 -41.1%