Greenwoods Asset Management (Jinzhi)
china, value, quality, active
Quarter Analysis
13F change notes for Greenwoods Asset Management (Jinzhi) in 2025-12-31.
Greenwoods went very long mega-cap-tech in Q4: Alphabet doubled +53% shares to 20.8% (top weight!), Meta held at 16% (#2), Nvidia trimmed -65% on +14% gain. Broadcom new at 2.1% (exited the next quarter). The book concentrated hard (top-3 41% → 48%) but with two mega-caps as the anchors. Net story: the manager was betting on GOOGL + META as the AI winners; the Q1 reversal trims Meta and rotates into Intel/AMZN.
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▲ ADDED
ALPHABET INC GOOGL
Shares +53%, weight 9.6% → 20.8% — the new top position. 16 quarters held at +36% unrealized; the AI-search thesis at full conviction.
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★ HELD
META PLATFORMS INC META
20 quarters held, weight 16.3%, +83% unrealized — kept as the #2 anchor at full size.
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★ HELD
FUTU HLDGS LTD FUTU
19 quarters held, +116% unrealized — the China broker that just keeps compounding.
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▼ REDUCED
NVIDIA CORPORATION NVDA
Cut -65% in shares from a 10% prior weight — taking profit and rotating away from semi exposure.
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+ NEW
BROADCOM INC AVGO
New 2.1% — short-lived; exited the very next quarter.
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▼ REDUCED
NEBIUS GROUP N.V. NBIS
Cut -50% at +202% unrealized — taking profit on the AI infrastructure spec.