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Greenwoods Asset Management Makes Bold Portfolio Pivot with Major Apple Bet Amidst Technology Sector Retreat
AInvestFriday, Nov 8, 2024 10:00 pm ET
1min read
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In a notable shift during the third quarter, the prominent Chinese private equity firm, Greenwoods Asset Management, submitted its latest 13F filing to the U.S. SEC, revealing significant changes in its investment portfolio as of September 30. The filing shows that Greenwoods considerably increased its holdings in Apple Inc., while it reduced investments in previously dominant positions such as Microsoft and Nvidia.

The third-quarter 13F report highlighted that due to these divestments, the value of Greenwoods' portfolio decreased to $3.15 billion from $3.79 billion in the previous quarter. The most substantial reductions were seen in their Microsoft holdings, which were slashed by 87%, and Nvidia, which saw a reduction of 97%. Additionally, Taiwan Semiconductor and Meta were among other semiconductor and AI-focused stocks that witnessed 20% to 30% cutbacks. Chinese stocks like Pinduoduo and Netease also faced a near 10% reduction in holdings.

On the other hand, Greenwoods made a strategic move by fully exiting its positions in several key stocks, including ASML, iShares Semiconductor ETF, Amazon, Li Auto, Tesla, Novo Nordisk, and Merck. This reflects a significant shift from technology and pharmaceutical sectors which were part of their previous portfolio strategy.

The most significant increase, however, was in Apple, where Greenwoods acquired an additional 591,000 shares. This move is especially intriguing as it contrasts with Warren Buffett's approach, who has been reducing his Apple holdings by 50% in the first half of the year. Globally, investors are now keenly awaiting next week's Berkshire Hathaway 13F filing to determine which of Buffett's holdings have been further adjusted.

Beyond Apple, Greenwoods also bolstered its position in ZTO Express, adding nearly $100 million worth of shares, making Apple and ZTO its 7th and 8th largest holdings, respectively. In terms of new investments, Greenwoods initiated positions in several other notable firms, including Singapore's Sea Limited, Google, BeiGene, Legend Biotech, Pfizer, and Dell.

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