Fund detail
Headwater Capital (Paul Wu)
china, value, concentrated, active, paul-wu
Quarters
6
2025-12-31
$480.9M
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 | INVESCO QQQ TR | $0 | 0 | -3,300 | -100.00% | 0.48% | ||||||
| 2 | MARRIOTT INTL INC NEW | $0 | 0 | -50,000 | -100.00% | 3.19% | ||||||
| 3 | NVIDIA CORPORATION | $0 | 0 | -100,000 | -100.00% | 4.56% | ||||||
| 4 | OPERA LTD | $0 | 0 | -100,000 | -100.00% | 0.50% | ||||||
| 5 | ALIBABA GROUP HLDG LTD BABA | $2.3M | 0.49% | 16,000 | -104,000 | -86.67% | 5.25% | 2025-09-30 | $147 | ~$179 | -17.99% | |
| 6 | APPLE INC | $3.1M | 0.65% | 624,000 | +624,000 | 2025-12-31 | $5 | ~$5 | +0.00% | |||
| 7 | YELP INC YELP | $4.6M | 0.95% | 150,000 | +150,000 | 2025-12-31 | $30 | ~$30 | +0.00% | |||
| 8 | YUM CHINA HLDGS INC YUMC | $4.8M | 0.99% | 100,000 | -19,700 | -16.46% | 1.26% | 2025-06-30 | $48 | ~$45 | +6.78% | |
| 9 | TRIPADVISOR INC TRIP | $5.1M | 1.06% | 350,000 | -570,000 | -61.96% | 3.66% | 2025-09-30 | $15 | ~$16 | -10.46% | |
| 10 | ATOUR LIFESTYLE HLDGS LTD ATAT | $7.9M | 1.64% | 200,000 | +20,000 | +11.11% | 1.66% | 2025-09-30 | $39 | ~$38 | +4.56% | |
| 11 | H WORLD GROUP LTD HTHT | $9.4M | 1.96% | 200,000 | -50,000 | -20.00% | 2.39% | 2024-12-31 | $47 | ~$33 | +42.45% | |
| 12 | LUMENTUM HLDGS INC LITE | $11.1M | 2.30% | 30,000 | -95,000 | -76.00% | 4.98% | 2025-09-30 | $369 | ~$163 | +126.53% | |
| 13 | FIGMA INC FIG | $19.4M | 4.04% | 520,000 | +520,000 | 2025-12-31 | $37 | ~$37 | +0.00% | |||
| 14 | MICRON TECHNOLOGY INC MU | $22.3M | 4.63% | 78,000 | -42,000 | -35.00% | 4.91% | 2025-09-30 | $285 | ~$167 | +70.58% | |
| 15 | TRIP COM GROUP LTD TCOM | $23.4M | 4.86% | 325,000 | -45,000 | -12.16% | 6.81% | 2024-12-31 | $72 | ~$67 | +7.11% | |
| 16 | AMAZON COM INC AMZN | $24.0M | 4.99% | 104,000 | +4,000 | +4.00% | 5.37% | 2024-12-31 | $231 | ~$220 | +5.09% | |
| 17 | META PLATFORMS INC META | $24.0M | 5.00% | 36,400 | -13,600 | -27.20% | 8.98% | 2024-12-31 | $660 | ~$582 | +13.40% | |
| 18 | PDD HOLDINGS INC PDD | $29.5M | 6.13% | 260,000 | +110,000 | +73.33% | 4.85% | 2024-12-31 | $113 | ~$111 | +2.17% | |
| 19 | ALPHABET INC GOOGL | $31.3M | 6.51% | 100,000 | +100,000 | 2025-12-31 | $313 | ~$313 | +0.00% | |||
| 20 | TAIWAN SEMICONDUCTOR MFG LTD TSM | $110.6M | 23.00% | 364,000 | +52,000 | +16.67% | 21.32% | 2024-12-31 | $304 | ~$216 | +40.95% | |
| 21 | ALPHABET INC GOOG | $148.1M | 30.80% | 472,000 | +139,000 | +41.74% | 19.84% | 2024-12-31 | $314 | ~$226 | +38.66% |