Jinglin Asset, a well-known Chinese private equity firm, recently submitted its latest 13F filing to the SEC. The filing reveals notable changes in its portfolio for the third quarter ending September 30. Despite trimming positions in its previous top holdings, Jinglin significantly increased its investment in Apple (AAPL, Financial).
According to the 13F filing, the market value of Jinglin's portfolio by the end of Q3 was $3.15 billion, down from $3.79 billion in the previous quarter due to reductions. During Q3, Jinglin reduced its stake in all of its top ten holdings from the prior quarter, with the most significant reductions in Microsoft and Nvidia, by 87% and 97%, respectively. Other tech stocks in the semiconductor and AI sectors, such as Taiwan Semiconductor and Meta, also faced cuts of 20-30%.
Chinese stocks like Pinduoduo, NetEase, and Futu saw approximately 10% reductions. Additionally, Jinglin completely exited positions in several stocks, including ASML, iShares Semiconductor ETF, Amazon, Li Auto, Tesla, Novo Nordisk, and Merck, all in the tech and pharmaceutical sectors.
Contrarily, Jinglin's major action in Q3 was increasing its holding in Apple by 591,000 shares, a move contrary to Warren Buffett (Trades, Portfolio)'s reduction of his Apple stake by 50% and 25% in the second and third quarters, respectively. This difference has sparked global interest in the upcoming Berkshire 13F filing to see what other positions might have been sold by Buffett.
In addition to Apple, Jinglin also increased its holdings in ZTO Express, adding nearly $100 million, making Apple and ZTO the seventh and eighth largest holdings in their portfolio.
New stocks added to Jinglin's portfolio this quarter include Singapore tech giant Sea Limited, Google, BeiGene, Legend Biotech, Pfizer, and Dell.
