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 | TAIWAN SEMICONDUCTOR MFG LTD TSM | $87.1M | 21.32% | 312,000 | +32,000 | +11.43% | 22.01% | 2024-12-31 | $279 | ~$203 | +37.63% | |
| 2 | ALPHABET INC GOOG | $81.1M | 19.84% | 333,000 | +233,000 | +233.00% | 6.16% | 2024-12-31 | $244 | ~$204 | +19.12% | |
| 3 | META PLATFORMS INC META | $36.7M | 8.98% | 50,000 | -50,000 | -50.00% | 25.61% | 2024-12-31 | $734 | ~$582 | +26.16% | |
| 4 | TRIP COM GROUP LTD TCOM | $27.8M | 6.81% | 370,000 | -30,000 | -7.50% | 8.14% | 2024-12-31 | $75 | ~$67 | +12.01% | |
| 5 | AMAZON COM INC AMZN | $22.0M | 5.37% | 100,000 | +100,000 | 2024-12-31 | $220 | ~$219 | +0.07% | |||
| 6 | ALIBABA GROUP HLDG LTD BABA | $21.4M | 5.25% | 120,000 | +120,000 | 2025-09-30 | $179 | ~$179 | +0.00% | |||
| 7 | LUMENTUM HLDGS INC LITE | $20.3M | 4.98% | 125,000 | +125,000 | 2025-09-30 | $163 | ~$163 | +0.00% | |||
| 8 | MICRON TECHNOLOGY INC MU | $20.1M | 4.91% | 120,000 | +120,000 | 2025-09-30 | $167 | ~$167 | +0.00% | |||
| 9 | PDD HOLDINGS INC PDD | $19.8M | 4.85% | 150,000 | -50,000 | -25.00% | 7.26% | 2024-12-31 | $132 | ~$102 | +29.16% | |
| 10 | NVIDIA CORPORATION NVDA | $18.7M | 4.56% | 100,000 | +100,000 | 2025-03-31 | $187 | ~$108 | +72.15% | |||
| 11 | TRIPADVISOR INC TRIP | $15.0M | 3.66% | 920,000 | +920,000 | 2025-09-30 | $16 | ~$16 | +0.00% | |||
| 12 | MARRIOTT INTL INC NEW MAR | $13.0M | 3.19% | 50,000 | -30,000 | -37.50% | 7.58% | 2025-06-30 | $260 | ~$273 | -4.67% | |
| 13 | H WORLD GROUP LTD HTHT | $9.8M | 2.39% | 250,000 | +250,000 | 2024-12-31 | $39 | ~$33 | +18.41% | |||
| 14 | ATOUR LIFESTYLE HLDGS LTD ATAT | $6.8M | 1.66% | 180,000 | +180,000 | 2025-09-30 | $38 | ~$38 | +0.00% | |||
| 15 | YUM CHINA HLDGS INC YUMC | $5.1M | 1.26% | 119,700 | -99,850 | -45.48% | 3.41% | 2025-06-30 | $43 | ~$45 | -4.00% | |
| 16 | OPERA LTD OPRA | $2.1M | 0.50% | 100,000 | +50,000 | +100.00% | 0.33% | 2025-06-30 | $21 | ~$19 | +6.75% | |
| 17 | INVESCO QQQ TR | $1.9M | 0.48% | 3,300 | +780 | +30.95% | 0.86% | 2025-03-31 | $590 | ~$1,668 | -64.63% | |
| 18 | CANADA GOOSE HLDGS INC | $0 | 0 | -660,000 | -100.00% | 2.56% | ||||||
| 19 | KE HLDGS INC | $0 | 0 | -500,000 | -100.00% | 3.08% | ||||||
| 20 | LULULEMON ATHLETICA INC | $0 | 0 | -53,000 | -100.00% | 4.37% | ||||||
| 21 | MICROSOFT CORP | $0 | 0 | -50,000 | -100.00% | 8.63% |