Tiger Pacific Raises Exposure to These Chinese Stocks; Buys Alibaba, Sells JD

Vipshop Holdings Ltd – ADR (NYSE:VIPS) was Tiger Pacific’s second-biggest holding in the technology sector and the third-biggest holding in the portfolio at the end of June. According to the 13F filing, the fund held 1.91 million shares, up by 2% on the quarter, worth $21.36 million at the end of the quarter.  Vipshop Holdings reported better-than-expected earnings and revenues for the last quarter. The company’s earnings of $0.17 per share, beat the consensus forecast of $0.15 per share,while revenue advanced by 39.3% year-over-year to $2.02 billion, beating the estimates by $120 million. A total of 25 investors we track amassed $604.27 million worth of Vipshop Holdings shares at the end of June, which equals to 9.20% of the float. This compares with 42 funds that held $879 million worth of stock a quarter earlier.

Autohome Inc (ADR) (NYSE:ATHM) was Tiger Pacific’s second-biggest holding at the end of the second quarter, accounting for 24.11% of the total portfolio. During the quarter, Tiger Pacific added 78,718 shares of Autohome and held 1.32 million shares worth $26.57 million. Autohome reported its second-quarter financial results last month, posting revenue of $207.4 million, up by 60.1% on the year and beating the consensus forecast by $850,000. The company’s earnings for the quarter came in at $0.51 per share, topping the estimates of $0.40 per share. The number of funds from our database long Autohome stood at 14 at the end of June, while the value of their holdings was $96.90 million, up from 11 funds holding $69.94 million worth of shares at the end of the previous quarter.

Noah Holdings Limited (ADR) (NYSE:NOAH) was Tiger Pacific’s largest holding at the end of the June quarter, as the fund held 1.52 million shares worth $36.55 million; the stake was increased by 15% during the second quarter. Noah Holdings is a $1.5 billion company that is engaged in providing wealth management and asset allocation services to wealthy individuals and companies in China. Last week, the company announced plans to start an insurance business in Singapore next year as it expects the demand for overseas assets among wealthy individuals in China to grow by 20% in 2017. Six funds tracked by us held $49.75 million worth of Noah Holdings Limited (ADR) (NYSE:NOAH) at the end of the June quarter, compared to five funds holding $45.18 million worth of shares a quarter earlier.

Disclosure: none