Fund detail
Headwater Capital (Paul Wu)
china, value, concentrated, active, paul-wu
Quarters
6
2025-09-30
$408.8M
Positions
17
Price is the latest implied close from the selected quarter's 13F (value ÷ shares). Est. Cost is a running average that assumes each quarter's trades cleared near the midpoint of consecutive 13F closes (or yfinance VWAP when available). Most accurate for slow accumulators, least accurate for activists who build positions in a few days.
| # | Issuer | Value ↑ | Weight | Shares | Share Δ | Share Δ % | Prev Weight | First Held | Price | Est. Cost | Unrealized % | Status |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | CANADA GOOSE HLDGS INC | $0 | 0 | -660,000 | -100.00% | 2.56% | ||||||
| 2 | KE HLDGS INC | $0 | 0 | -500,000 | -100.00% | 3.08% | ||||||
| 3 | LULULEMON ATHLETICA INC | $0 | 0 | -53,000 | -100.00% | 4.37% | ||||||
| 4 | MICROSOFT CORP | $0 | 0 | -50,000 | -100.00% | 8.63% | ||||||
| 5 | INVESCO QQQ TR | $1.9M | 0.48% | 3,300 | +780 | +30.95% | 0.86% | 2025-03-31 | $590 | ~$1,668 | -64.63% | |
| 6 | OPERA LTD OPRA | $2.1M | 0.50% | 100,000 | +50,000 | +100.00% | 0.33% | 2025-06-30 | $21 | ~$19 | +6.75% | |
| 7 | YUM CHINA HLDGS INC YUMC | $5.1M | 1.26% | 119,700 | -99,850 | -45.48% | 3.41% | 2025-06-30 | $43 | ~$45 | -4.00% | |
| 8 | ATOUR LIFESTYLE HLDGS LTD ATAT | $6.8M | 1.66% | 180,000 | +180,000 | 2025-09-30 | $38 | ~$38 | +0.00% | |||
| 9 | H WORLD GROUP LTD HTHT | $9.8M | 2.39% | 250,000 | +250,000 | 2024-12-31 | $39 | ~$33 | +18.41% | |||
| 10 | MARRIOTT INTL INC NEW MAR | $13.0M | 3.19% | 50,000 | -30,000 | -37.50% | 7.58% | 2025-06-30 | $260 | ~$273 | -4.67% | |
| 11 | TRIPADVISOR INC TRIP | $15.0M | 3.66% | 920,000 | +920,000 | 2025-09-30 | $16 | ~$16 | +0.00% | |||
| 12 | NVIDIA CORPORATION NVDA | $18.7M | 4.56% | 100,000 | +100,000 | 2025-03-31 | $187 | ~$108 | +72.15% | |||
| 13 | PDD HOLDINGS INC PDD | $19.8M | 4.85% | 150,000 | -50,000 | -25.00% | 7.26% | 2024-12-31 | $132 | ~$102 | +29.16% | |
| 14 | MICRON TECHNOLOGY INC MU | $20.1M | 4.91% | 120,000 | +120,000 | 2025-09-30 | $167 | ~$167 | +0.00% | |||
| 15 | LUMENTUM HLDGS INC LITE | $20.3M | 4.98% | 125,000 | +125,000 | 2025-09-30 | $163 | ~$163 | +0.00% | |||
| 16 | ALIBABA GROUP HLDG LTD BABA | $21.4M | 5.25% | 120,000 | +120,000 | 2025-09-30 | $179 | ~$179 | +0.00% | |||
| 17 | AMAZON COM INC AMZN | $22.0M | 5.37% | 100,000 | +100,000 | 2024-12-31 | $220 | ~$219 | +0.07% | |||
| 18 | TRIP COM GROUP LTD TCOM | $27.8M | 6.81% | 370,000 | -30,000 | -7.50% | 8.14% | 2024-12-31 | $75 | ~$67 | +12.01% | |
| 19 | META PLATFORMS INC META | $36.7M | 8.98% | 50,000 | -50,000 | -50.00% | 25.61% | 2024-12-31 | $734 | ~$582 | +26.16% | |
| 20 | ALPHABET INC GOOG | $81.1M | 19.84% | 333,000 | +233,000 | +233.00% | 6.16% | 2024-12-31 | $244 | ~$204 | +19.12% | |
| 21 | TAIWAN SEMICONDUCTOR MFG LTD TSM | $87.1M | 21.32% | 312,000 | +32,000 | +11.43% | 22.01% | 2024-12-31 | $279 | ~$203 | +37.63% |