Top Ace Asset Management Ltd 13F annual report
Top Ace Asset Management Ltd is an investment fund managing more than $25.3 billion ran by Siu Chung. There are currently 10 companies in Chung’s portfolio. The largest investments include Baidu Inc and NVIDIA Corp, together worth $13.1 billion.
$25.3 billion Assets Under Management (AUM)
As of 26th October 2023, Top Ace Asset Management Ltd’s top holding is 80,000 shares of Baidu Inc currently worth over $10.7 billion and making up 42.4% of the portfolio value.
Relative to the number of outstanding shares of Baidu Inc, Top Ace Asset Management Ltd owns more than approximately 0.1% of the company.
In addition, the fund holds 5,300 shares of NVIDIA Corp worth $2.31 billion, whose value grew 50.0% in the past six months.
The third-largest holding is Yum China Inc worth $2.23 billion and the next is JD.com Inc worth $2.18 billion, with 75,000 shares owned.
Currently, Top Ace Asset Management Ltd's portfolio is worth at least $25.3 billion. 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 Top Ace Asset Management Ltd
The Top Ace Asset Management Ltd office and employees reside in Hong Kong, Hong Kong. According to the last 13-F report filed with the SEC, Siu Chung serves as the Director at Top Ace Asset Management Ltd.
Recent trades
In the most recent 13F filing, Top Ace Asset Management Ltd revealed that it had opened a new position in
Yum China Inc and bought 40,100 shares worth $2.23 billion.
This means they effectively own approximately 0.1% of the company.
Yum China Inc makes up
21.7%
of the fund's Consumer Discretionary sector allocation and has decreased its share price by 3.8% in the past year.
The investment fund also strengthened its position in Baidu Inc by buying
40,300 additional shares.
This makes their stake in Baidu Inc total 80,000 shares worth $10.7 billion.
Baidu Inc soared 34.4% in the past year.
On the other hand, there are companies that Top Ace Asset Management Ltd is getting rid of from its portfolio.
Top Ace Asset Management Ltd closed its position in NetEase Inc on 2nd November 2023.
It sold the previously owned 21,400 shares for $2.07 billion.
Siu Chung also disclosed a decreased stake in PDD Inc by 0.6%.
This leaves the value of the investment at $2.14 billion and 21,800 shares.
One of the smallest hedge funds
The two most similar investment funds to Top Ace Asset Management Ltd are Mra Associates Usa and Jeereddi Investments, L.P.. They manage $25.3 billion and $25.4 billion respectively.
Siu Chung investment strategy
Top Ace Asset Management Ltd’s portfolio is diversified across 3 sectors.
Currently, their heaviest sector is Technology — making up 53.5% of
the total portfolio value.
The fund focuses on investments in the China as
70.0% of the portfolio companies
are based in the China.
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
60% 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 $91.5 billion.
The complete list of Top Ace Asset Management Ltd trades based on 13F SEC filings
These positions were updated on November 2nd 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 |
|---|---|---|---|
| Baidu Inc |
101.51%
80,000
|
$10,748,000,000 | 42.42% |
| NVIDIA Corp |
10.42%
5,300
|
$2,305,447,000 | 9.10% |
| Yum China Holdings Inc |
Opened
40,100
|
$2,234,372,000 | 8.82% |
| JD.com Inc |
No change
75,000
|
$2,184,750,000 | 8.62% |
| PDD Holdings Inc |
64.70%
21,800
|
$2,137,926,000 | 8.44% |
| NetEase Inc |
Closed
21,400
|
$2,069,166,000 | |
| NIO Inc |
Opened
208,800
|
$1,887,552,000 | 7.45% |
| Xpeng Inc. |
25.51%
100,000
|
$1,836,000,000 | 7.25% |
| Miniso Group Hldg Ltd |
Opened
57,700
|
$1,494,430,000 | 5.90% |
| Futu Hldgs Ltd |
Closed
37,500
|
$1,490,250,000 | |
| Trip.com Group Ltd |
Closed
33,900
|
$1,186,500,000 | |
| KE Holdings Inc. |
Closed
70,300
|
$1,043,955,000 | |
| Bilibili Inc |
No change
36,900
|
$508,113,000 | 2.01% |
| Alibaba Group Hldg Ltd |
99.95%
34
|
$2,949,000 | 0.01% |
| No transactions found | |||
| Showing first 500 out of 14 holdings | |||
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