Tiger Pacific Capital is a hedge fund focused on Asia, founded by Run Ye, Junji Takegami and Hoyon Hwang, who previously worked for Tiger Asia Management. The fund has recently filed its latest 13F filing, in which it reported an equity portfolio worth $116 million as of the end of December. The filing also revealed that the fund held a total of nine positions heading into 2017, including five holdings it acquired between October and December.
We follow over 700 hedge funds and other institutional investors and by analyzing their quarterly 13F filings, we identify stocks that they are collectively bullish on and develop investment strategies based on this data. One strategy that outperformed the market over the last year involves selecting the 100 best-performing funds and identifying the 30 mid-cap stocks that they are collectively the most bullish on. Over the past year, this strategy generated returns of 18%, topping the 8% gain registered by S&P 500-tracking ETFs.
All of Tiger Pacific Capital’s positions are in China-based companies and in this article, we are going to take a closer look at the five new stocks it added to its 13F portfolio during the fourth quarter.
Tiger Pacific Capital bought around 54,300 shares of Baidu Inc (ADR) (NASDAQ:BIDU) worth $8.9 million during the fourth quarter. The Chinese language Internet search provider, which is also one of the world’s most visited websites, controls almost 80% of the internet search market in China. For the third quarter, Baidu Inc (ADR) (NASDAQ:BIDU) posted adjusted earnings of $1.49 per share, topping analysts’ estimates of $1.11 and even though its revenue of $2.74 billion inched down by 0.7% year-over-year, it beat the consensus estimate of $2.71 billion. The stock has returned more than 8% year till date when NASDAQ was up 5.4%. According to our data, the number of hedge funds long this stock increased by one to 57 during the third quarter, having amassed 7.6% of the company’s float at the end of September.