Fang Zheng’s Keywise Capital Loves These Chinese Stocks

Keywise Capital Management is an asset management company, that focuses primarily on companies in the Greater China markets. It employs a fundamental, bottom-up investment. In its latest 13F filing the fund revealed its holdings for the quarter ended December 2013, wherein it reported that its portfolio value fell to $301.28 million from $363.27 million in the previous quarter.

In this piece we will look into top five companies, in terms of value, in Keywise Capital Management’s equity portfolio, all of them being China-based companies.

Vipshop Holdings Ltd

First in terms of value is Vipshop Holdings Ltd – ADR (NYSE:VIPS), that deals in the online discount retailer for various brands. Keywise’s fund now owns 1.1 million shares, of the company valued at roughly $91.32 million.

On the second spot is Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) which designs, develops, and markets semiconductors for flat panel displays.  The fund holds 4.29 million shares, slightly up from 4.24 million shares held at the end of the third quarter. The value of the holding increased significantly to $63.17 million from $42.44 million in the previous quarter. Of all the hedge funds we track, Jericho Capital Asset Management, led by Josh Resnick, is the largest shareholder of Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), and held 3.75 million shares at the end of the third quarter.

On the third spot is Qihoo 360 Technology Co Ltd (NYSE:QIHU), that engages in the operations of Internet services and sales of third party anti-virus software. The holding in this company was significantly trimmed to 575,267 shares from 803,301 shares held earlier. The value of the current position is equal to $47.20 million.

Ted Kang’s Kylin Management, also added 2.87 million shares of Qihoo 360 Technology Co Ltd (NYSE:QIHU)’ to its equity portfolio.

Next on the list is a mega-cap electric vehicles company, YY Inc (ADR) (NASDAQ:YY), that engages users in online group activities via voice, text and video. The fund boosted its stake to 857,035 shares from 769,000 shares held in the previous quarter. The value of the current holding is $43.09 million.

Ted Kang’s Kylin Management is another hedge fund, which holds 627,800 shares of YY Inc (ADR) (NASDAQ:YY)

In AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP) Keywise Capital Management disclosed the fifth-largest holding. AutoNavi provides digital map content and navigation and location-based solutions in China. The position is 2.07 million shares with a reported value of $29.48 million. The position remained basically flat, but the value decreased from $30.12 million.

Platinum Asset Management, led by Kerr Neilson, is another hedge fund who initiated a position in AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP), at the end of the third quarter and now holds 560,500 shares, worth $8.36 million.

Disclosure: none

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