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Cailianshe News, August 10 (Editor: Xiaoxiang)On Friday local time, Jinglin Asset Management, a private equity giant with a market value of hundreds of billions of yuan, submitted a report on its U.S. stock holdings (Form 13F) as of the end of the second quarter of this year to the U.S. SEC, showing the allocation of this top Chinese private equity firm before the end of the first half of the year.

According to the latest disclosure by Jinglin Asset Management, Jinglin's overall holdings increased from US$3.23 billion in the previous quarter to US$3.79 billion at the end of the second quarter, up 17.3% from the previous quarter. The top ten holdings accounted for about 87.45%.

In terms of specific portfolio adjustments, Jinglin increased its holdings in 12 companies and established new positions in 8 companies in the second quarter. It also reduced its holdings in 11 companies and completely liquidated 6 companies.

Significantly increased holdings in Pinduoduo and TSMC

Let’s first look at the list of increased holdings. In the second quarter of this year, the top two stocks increased by Jinglin Asset Management were TSMC and Pinduoduo. Among the top five increased holdings, Chinese concept stocks Manbang and NetEase were also on the list.

Among them, Jinglin bought more than 1.16 million TSMC shares in the second quarter, bringing its holdings in TSMC to nearly 2.72 million shares at the end of the second quarter, with a change in holdings of about 75%. Currently, TSMC accounts for 12.45% of Jinglin's investment portfolio. It is worth mentioning that this is the second consecutive quarter that Jinglin has increased its holdings in TSMC since it first established a position in TSMC in the fourth quarter of last year. It is not difficult to see that it is optimistic about the prospects of this global chip foundry giant.

In the second quarter, Jinglin reversed its trend of reducing its holdings in the first quarter and repurchased more than 1.57 million shares of Pinduoduo. Pinduoduo thus became Jinglin's top holding again, surpassing Meta, which briefly ranked first in the first quarter.

New Apple Warehouse

Among the stocks that Jinglin newly bought in the second quarter, Apple was undoubtedly the most eye-catching, because Jinglin bought Apple at the same time that Warren Buffett halved his holdings in Apple.

The report shows that Jinglin built a total of 165,600 Apple shares in the second quarter, with a market value of approximately US$34.88 million. Apple was also the fifth most purchased stock by Jinglin in the quarter. However, its holdings in Apple have not yet entered the top ten holdings of the investment portfolio, and currently rank 13th.

Reduce holdings in META and Nvidia

In the second quarter, Jinglin Asset Management's top three reduced holdings were META, Doordash and Nvidia.

Among them, Jinglin sold 102,000 shares of META in the second quarter, with a market value of approximately US$51.6 million, which also reduced META from its largest holding to the second largest holding.

As for Nvidia, Jinglin Asset Management reduced its holdings of Nvidia shares by 774,000 shares in the second quarter, and the number of shares held dropped to approximately 1.09 million shares.

List of top ten holdings

After the operations in Q2, although Jinglin’s top ten holdings at the end of the second quarter were still “old acquaintances” on the list, the rankings had changed significantly.

Pinduoduo surpassed META again to become the largest holding, accounting for 18.24%, and TSMC also jumped from the original sixth largest holding to the top three. After reducing its holdings in the second quarter, Nvidia has become the "gatekeeper" among Jinglin's top ten holdings.