NetEase, Inc.
Long book
$934.5M
Q1 2026
Positions
2
Top-10 weight
100%
concentration
Last quarter
-17.9%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsNetEase, Inc. is a diversified fundamental manager, specialised in services_media (100% of the long book), running a $934.5M US long book across 2 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: PDD HOLDINGS INC, YOUDAO INC - ADR.
Over the last 9 quarters its long book ran on average 18.9pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+19.1%
Q2 2024
+53.5%
Q3 2024
+137.2%
Q4 2024
+3.1%
Q1 2025
+12.7%
Q2 2025
+25.6%
Q3 2025
-13.3%
Q4 2025
-9.4%
Q1 2026
-17.9%
Sector allocation
Technology 100%
Long book by quarter
What does NetEase, Inc. own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 2 | $934.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 2 | $432.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 2 | $498.7M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 2 | $397.0M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 8, 2025 | 1 | $22.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 7, 2025 | 1 | $21.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 7, 2024 | 2 | $77.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 8, 2024 | 2 | $173.1M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 9, 2024 | 2 | $244.0M | canonical | SEC ↗ |
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