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