Jinglin Asset Targets Giants in Q3: New Positions in Nvidia and Alibaba, Significant Increase in TSMC Holdings

Jinglin Asset, a well-known private equity firm, made significant adjustments to its U.S. stock holdings in the third quarter, establishing new positions in Nvidia and Alibaba, while increasing its stakes in TSMC, Atour, and Huazhu. Among its major holdings, Google’s parent company Alphabet and Intel saw increased investments, while it reduced its stake in Manbang Group and completely exited from Trip.com and Qifu Technology.

This adjustment indicates that Jinglin is repositioning itself in the AI chip sector while continuing to adjust its allocation of Chinese concept stocks.

According to the 13F filing submitted to the U.S. Securities and Exchange Commission by Greenwoods Asset Management Hong Kong Ltd., as of the end of Q3 2026, the total market value of the 21 investments disclosed by the firm is approximately $2.95 billion.

After Liquidating in Q2, Jinglin Rebuilds Position in Nvidia, TSMC Holdings Increase Over Tenfold

In the tech sector, Jinglin established a new position in Nvidia (NVDA), purchasing 118,000 shares of the AI chip giant, valued at $27 million. Notably, Jinglin had previously liquidated its position in Nvidia in Q2 2026, and this re-establishment of holdings signifies that it has once again included this core player in the AI supply chain in its U.S. stock portfolio.

At the same time, Jinglin also established a new position in Alibaba (BABA), holding approximately 47,300 shares; it also acquired 304,000 shares of Meta (META).

In the AI chip supply chain, Jinglin significantly increased its holdings in TSMC (TSM), listed on the New York Stock Exchange, adding approximately 892,200 shares, which is more than a tenfold increase compared to Q2, making it one of the stocks with the largest increase in holdings disclosed in the Greater China region for Q3.

Increasing Investment in Hotel Stocks, Atour and Huazhu Both See Increased Holdings

In the consumer services sector, Jinglin continued to increase its investments in hotel operators.

Specifically, Atour (ATAT) saw an increase of approximately 669,100 shares, while Huazhu Group (HTHT) had an increase of about 317,800 shares.

The simultaneous increase in both hotel companies indicates that Jinglin continues to allocate resources to Chinese hotel and travel consumption-related assets.

However, the 13F filing reflects changes in holdings at the end of the quarter and cannot be used to determine the specific timing of purchases, transaction prices, or investment logic.

Liquidating Qifu Technology and Trip.com, Reducing Manbang Holdings

On the reduction side, Jinglin made significant adjustments to some Chinese concept stocks in Q3.

Among them, Qifu Technology (QFIN), formerly known as 360 Finance, was completely liquidated, reducing its holdings by approximately 3.03 million shares; Trip.com (TCOM) was also fully liquidated, exiting about 12,000 shares.

Additionally, Manbang Group (YMM) saw a reduction of approximately 405,500 shares.

Overall, Jinglin is repositioning itself by re-allocating to large tech companies like Nvidia and Alibaba, increasing its stakes in TSMC and hotel stocks, while exiting Qifu Technology and Trip.com, adjusting its exposure to certain Chinese concept stocks.

It is important to note that the 13F only discloses long positions in U.S. market securities that meet reporting requirements and does not cover the fund's entire assets, cash, or short positions, nor does it fully reflect its investments in domestic products and other markets. Therefore, this report presents only part of the changes in Jinglin's overseas investment portfolio, rather than its entire investment strategy.

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