Recently, Gaoyi Asset, Hillhouse Group, Jinglin Asset, and TOP ACEASSET MANAGEMENT under Wang Yawei have all announced their holdings in US stocks in the third quarter.
Securities Times reporter learned from Private Equity Ranking that, based on the current holdings of US stocks by top private equity firms, technology and consumer stocks are key holdings, with some technology leaders significantly increasing their holdings.
Yao Xusheng, partner of Paipai Network Wealth Management, stated that top private equity firms maintain a preference for the technology sector mainly because: firstly, top technology companies have a high market share, and once breakthroughs are made in technological development, they can quickly increase market share; Secondly, the development of technology will lead to many emerging industries, and the resource integration capabilities of top companies are more advantageous, making it easier to seize investment opportunities; Thirdly, leading technology stocks are more likely to receive support in policy and other aspects.
Hillhouse increases its holdings in Amazon and others
According to the US stock holdings data released by HHLR Advisors, a subsidiary of Hillhouse, the investment focus remains on technology, with an increase in holdings in four stocks directly hired by Amazon, Roivant, Microsoft, and Boss; Buy 7 stocks such as Tesla, of which 3 hold passive positions for the listed company; Reduce positions in multiple stocks such as JD.com and Futu Holdings, and clear positions in Ideal Automobile.
HHLR Advisors is the main body of Hillhouse's investment in US stocks, managed and operated by a secondary market investment team. According to the website of the Securities and Exchange Commission (SEC), as of the end of the third quarter of 2023, HHLR Advisors held 67 stocks in the US stock market, a decrease of 14 stocks compared to the previous quarter. The market value of their holdings further decreased to $4.479 billion, a decrease of 4.6% compared to the previous quarter. The market value of their holdings at the end of the second quarter was $4.696 billion.
As of the end of the third quarter of 2023, the top ten holdings of HHLR Advisors were distributed among Baekje Shenzhou, Pinduoduo, Shell, Legendary Biology, Microsoft, DoorDash, Saftek, Alibaba, TAKE-TWO Interactive Software, and Amazon, with a market value of 80.33%.
Data source: Private placement network
During the third quarter, HHLR Advisors increased their holdings in Amazon, biopharmaceutical company Roivant, Microsoft, and Boss direct hires. Among them, Amazon, the tenth largest heavyweight stock, was the stock with the highest increase in holdings by Hillhouse in the third quarter. In the third quarter, Hillhouse increased its holdings of 777700 shares in Amazon, an increase of 3200% compared to the previous quarter. At the end of the third quarter, its market value was nearly $102 million, and its proportion in the investment portfolio increased from 0.07% in the previous quarter to 2.28%.
Jinglin Asset Increase Holdings in Microsoft, etc
According to the US stock holdings data of Jinglin Asset in the third quarter, the top ten heavy holdings at the end of the third quarter were Pinduoduo, Facebook parent company Meta, Microsoft, NetEase, Zhongtong Express, home appliance brand SharkInnja, New Oriental, Google, food delivery platform Doordash, and Futu Holdings, with a total holding ratio of 86.87%.
Data source: Private placement network
Pinduoduo remains the largest heavyweight stock, and Jinglin Asset continued to increase its holdings in Pinduoduo in the third quarter of this year, increasing from 4.7 million shares to 5.1586 million shares, corresponding to a market value of 506 million US dollars. Since the second quarter of 2022, Jinglin Asset has continuously increased its holdings and increased its profits.
It is worth mentioning that during the third quarter, Jinglin Asset significantly increased its holdings in Microsoft, increasing its holdings from 869300 shares at the end of the second quarter to 1180600 shares. The market value of its holdings at the end of the third quarter reached 373 million US dollars, elevating its ranking from eighth to third in the third quarter.
Home appliance brands SharkInnja and Google are new holdings. Shark Ninja is a global product design and technology company that designs and manufactures a variety of small household appliances. After being cleared by Jinglin Asset in the second quarter of this year, Google was re bought 887900 shares in the third quarter, with a market value of $116 million.
Gao Yi's increased holdings in iQiyi and other assets
According to the 13F documents of international investment institutions under Gaoyi Asset, the total market value of American stocks held by Gaoyi Asset International in the third quarter reached 386 million US dollars, with 5 new purchases, an increase of 4 holdings, and a decrease of 3 holdings.
Data source: Private placement network
Specifically, in the third quarter, Gaoyi Asset International newly purchased Huazhu Group, Alibaba, TSMC, Ctrip, and Zhihu; The US stock with the largest increase in holdings is iQiyi, which increased its holdings by nearly 7.0292 million shares during the reporting period, with a significant increase of 878.65% compared to the previous month. At the end of the quarter, its market value reached 37.11 million US dollars, making it its third largest holding stock; During the same period, NetEase, Wuxin Technology, and Yaduo also gained additional positions from Gaoyi Asset.
In terms of holdings reduction, Gaoyi Asset International sold 574400 Pinduoduo shares in the third quarter, but Pinduoduo still remains the top heavy holding stock of Gaoyi Asset International in the US stock market; TAL and New Oriental have also been reduced by Gaoyi Asset International.
Wang Yawei increased his holdings in Baidu and others
Wang Yawei's Top Ace held 10 stocks at the end of the third quarter, with a total market value of $25.3395 million, including Baidu, Nvidia, Yum China, JD.com, and Pinduoduo. Among them, Baidu gained a relatively large increase in its holdings during the third quarter, reaching 101.51%. At the end of the period, it held 80000 shares with a market value of 10.748 million US dollars.
Data source: Private placement network
Overall, top private equity firms still have a high level of attention to AI technology stocks, with both Microsoft, Baidu, and Google receiving key overweight holdings. Guolian Securities believes that the commercialization exploration of OpenAI is expanding from paid subscription and API access business models of AI products such as ChatGPT to an ecological model of application stores, and the application landing in the vertical field of AI big models is expected to accelerate.
