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