Keywise Capital Management Ltd 13F annual report
Keywise Capital Management Ltd is an investment fund managing more than $220 million ran by Fang Zheng. There are currently 17 companies in Zheng’s portfolio. The largest investments include Vipshop Hldgs Ltd and Alibaba Group Hldg Ltd, together worth $122 million.
$220 million Assets Under Management (AUM)
As of 7th October 2020, Keywise Capital Management Ltd’s top holding is 7,015,500 shares of Vipshop Hldgs Ltd currently worth over $62.6 million and making up 28.4% of the portfolio value.
In addition, the fund holds 353,864 shares of Alibaba Group Hldg Ltd worth $59.2 million.
The third-largest holding is Taiwan Semiconductor Mfg Ltd worth $44.5 million and the next is NVIDIA worth $30.2 million, with 173,400 shares owned.
Currently, Keywise Capital Management Ltd's portfolio is worth at least $220 million. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Keywise Capital Management Ltd
The Keywise Capital Management Ltd office and employees reside in Grand Cayman, Cayman Islands. According to the last 13-F report filed with the SEC, Fang Zheng serves as the Director at Keywise Capital Management Ltd.
Recent trades
In the most recent 13F filing, Keywise Capital Management Ltd revealed that it had opened a new position in
Ctrip Com Intl Ltd and bought 95,500 shares worth $2.8 million.
The investment fund also strengthened its position in Vipshop Hldgs Ltd by buying
53,900 additional shares.
This makes their stake in Vipshop Hldgs Ltd total 7,015,500 shares worth $62.6 million.
On the other hand, there are companies that Keywise Capital Management Ltd is getting rid of from its portfolio.
Keywise Capital Management Ltd closed its position in Qudian on 24th October 2019.
It sold the previously owned 2,993,400 shares for $22.5 million.
Fang Zheng also disclosed a decreased stake in Taiwan Semiconductor Mfg Ltd by approximately 0.1%.
This leaves the value of the investment at $44.5 million and 956,400 shares.
One of the smaller hedge funds
The two most similar investment funds to Keywise Capital Management Ltd are Pds Planning, Inc and Klinsky Steven B. They manage $220 million and $220 million respectively.
Fang Zheng investment strategy
Keywise Capital Management Ltd’s portfolio is diversified across 5 sectors.
Currently, their heaviest sector is Technology — making up 16.0% of
the total portfolio value.
The fund focuses on investments in the United States as
11.8% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
41% of the total holdings value.
On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $67.8 billion.
The complete list of Keywise Capital Management Ltd trades based on 13F SEC filings
These positions were updated on October 24th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Vipshop Hldgs Ltd |
0.77%
7,015,500
|
$62,578,000 | 28.39% |
| Alibaba Group Hldg Ltd |
85.30%
353,864
|
$59,177,000 | 26.85% |
| Taiwan Semiconductor Mfg Ltd |
0.82%
956,400
|
$44,453,000 | 20.17% |
| NVIDIA Corp. |
0.52%
173,400
|
$30,184,000 | 13.69% |
| Qudian Inc. |
Closed
2,993,400
|
$22,451,000 | |
| New Oriental Ed & Tech Grp I |
98.05%
30,500
|
$3,378,000 | 1.53% |
| Ctrip Com Intl Ltd |
Opened
95,500
|
$2,797,000 | 1.27% |
| 51job, Inc. |
Opened
32,300
|
$2,390,000 | 1.08% |
| Pinduoduo, Inc. |
95.12%
72,400
|
$2,333,000 | 1.06% |
| NetEase, Inc. |
608.33%
8,500
|
$2,263,000 | 1.03% |
| HUYA, Inc. |
Opened
94,800
|
$2,241,000 | 1.02% |
| TAL Education Group |
332.88%
63,200
|
$2,164,000 | 0.98% |
| Melco Resorts And Entmt Ltd |
Opened
110,500
|
$2,145,000 | 0.97% |
| Momo, Inc. |
Opened
65,600
|
$2,032,000 | 0.92% |
| JD.com, Inc. |
Opened
30,100
|
$849,000 | 0.39% |
| Yum China Holdings, Inc. |
137.50%
15,200
|
$691,000 | 0.31% |
| 360 DigiTech, Inc. |
Closed
51,416
|
$604,000 | |
| Micron Technology, Inc. |
Opened
9,300
|
$399,000 | 0.18% |
| 58.com Inc. |
98.41%
7,100
|
$350,000 | 0.16% |
| No transactions found | |||
| Showing first 500 out of 19 holdings | |||
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