Was Keywise Capital Management Right to Invest in NVIDIA Corporation (NVDA), Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (TSM), Others?

In Universal Display Corporation (NASDAQ:OLED), Keywise had initiated a stake of 512,200 shares during the third quarter, but cut it by 96% to 16,000 shares in the following three months, as the stock slid by 18.1%. A total of 20 funds followed by Insider Monkey amassed shares of Universal Display Corporation (NASDAQ:OLED) at the end of June, down by 9% over the quarter. Among these funds, Columbus Circle Investors had the biggest position in Universal Display Corporation (NASDAQ:OLED), worth close to $81.1 million. On the second spot was Keywise and other funds that reported long positions included Brian Ashford-Russell and Tim Woolley’s Polar Capital, Jim Simons’s Renaissance Technologies and Rob Citrone’s Discovery Capital Management.

Finally, in Vipshop Holdings Ltd – ADR (NYSE:VIPS), Keywise cut its position in the previous two quarters and held 1.16 million shares at the end of June (down by 29% over the quarter) and 685,330 shares (down by 40% over the quarter). The value of the stake also declined to $10.05 million from $12.96 million during the third quarter. The reduction of the stake comes as the stock surged by 31.3% during the third quarter. The number of funds followed by our team long Vipshop Holdings also slid to 25 from 42 during the second quarter. The largest stake among these funds was held by  Kylin Management, led by Ted Kang, which had a $243.4 million position in the stock at the end of June. On Kylin Management’s heels was Wang Chen of Serenity Capital, with a $51 million position. Remaining hedge funds and institutional investors that werebullish included Curtis Macnguyen’s Ivory Capital (Investment Mgmt), Panayotis Takis Sparaggis’s Alkeon Capital Management and Alok Agrawal’s Bloom Tree Partners.

Disclosure: none