Fund detail
Headwater Capital (Paul Wu)
china, value, concentrated, active, paul-wu
Quarters
6
2026-03-31
$622.0M
Positions
15
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 | ALIBABA GROUP HLDG LTD | $0 | 0 | -16,000 | -100.00% | 0.49% | ||||||
| 2 | AMAZON COM INC | $0 | 0 | -104,000 | -100.00% | 4.99% | ||||||
| 3 | APPLE INC | $0 | 0 | -624,000 | -100.00% | 0.65% | ||||||
| 4 | ATOUR LIFESTYLE HLDGS LTD | $0 | 0 | -200,000 | -100.00% | 1.64% | ||||||
| 5 | FIGMA INC | $0 | 0 | -520,000 | -100.00% | 4.04% | ||||||
| 6 | H WORLD GROUP LTD | $0 | 0 | -200,000 | -100.00% | 1.96% | ||||||
| 7 | TRIPADVISOR INC | $0 | 0 | -350,000 | -100.00% | 1.06% | ||||||
| 8 | YELP INC | $0 | 0 | -150,000 | -100.00% | 0.95% | ||||||
| 9 | YUM CHINA HLDGS INC | $0 | 0 | -100,000 | -100.00% | 0.99% | ||||||
| 10 | KANZHUN LTD BZ | $4.0M | 0.65% | 300,000 | +300,000 | 2026-03-31 | $13 | ~$16 | -18.83% | |||
| 11 | ON HLDG AG | $10.2M | 1.64% | 300,000 | +300,000 | 2026-03-31 | $34 | ~$34 | +0.00% | |||
| 12 | ROBLOX CORP RBLX | $11.3M | 1.82% | 200,000 | +200,000 | 2026-03-31 | $57 | ~$68 | -17.24% | |||
| 13 | FUTU HLDGS LTD FUTU | $13.7M | 2.20% | 100,000 | +100,000 | 2025-03-31 | $137 | ~$102 | +33.62% | |||
| 14 | LUMENTUM HOLDINGS INC LITE | $14.1M | 2.26% | 20,000 | -10,000 | -33.33% | 2.30% | 2025-09-30 | $703 | ~$163 | +331.91% | |
| 15 | PDD HOLDINGS INC PDD | $15.3M | 2.46% | 150,000 | -110,000 | -42.31% | 6.13% | 2024-12-31 | $102 | ~$111 | -7.93% | |
| 16 | ROBINHOOD MARKETS INC HOOD | $25.4M | 4.09% | 367,000 | +367,000 | 2026-03-31 | $69 | ~$85 | -18.79% | |||
| 17 | DOORDASH INC DASH | $31.5M | 5.07% | 210,000 | +210,000 | 2026-03-31 | $150 | ~$182 | -17.57% | |||
| 18 | TRIP COM GROUP LTD TCOM | $32.9M | 5.28% | 660,000 | +335,000 | +103.08% | 4.86% | 2024-12-31 | $50 | ~$63 | -20.40% | |
| 19 | MICRON TECHNOLOGY INC MU | $36.1M | 5.81% | 107,000 | +29,000 | +37.18% | 4.63% | 2025-09-30 | $338 | ~$228 | +48.05% | |
| 20 | NVIDIA CORP NVDA | $54.9M | 8.83% | 315,000 | +315,000 | 2025-03-31 | $174 | ~$160 | +9.28% | |||
| 21 | ALPHABET INC GOOGL | $66.1M | 10.63% | 230,000 | +130,000 | +130.00% | 6.51% | 2025-12-31 | $288 | ~$314 | -8.36% | |
| 22 | ALPHABET INC GOOG | $84.6M | 13.61% | 295,000 | -177,000 | -37.50% | 30.80% | 2024-12-31 | $287 | ~$226 | +26.75% | |
| 23 | META PLATFORMS INC META | $108.1M | 17.39% | 189,000 | +152,600 | +419.23% | 5.00% | 2024-12-31 | $572 | ~$629 | -9.02% | |
| 24 | TAIWAN SEMICONDUCTOR MFG TSM | $113.6M | 18.26% | 336,000 | -28,000 | -7.69% | 23.00% | 2024-12-31 | $338 | ~$216 | +56.75% |