Insightful 13F Filing Analysis Reveals Key Investment Changes in Q4 2023
Value Partners Group (Trades, Portfolio), a premier asset management firm in Asia, has unveiled its investment strategy for the fourth quarter of 2023. With a history dating back to 1993, Value Partners stands out as a significant player in the financial landscape, renowned for its value investing philosophy and rigorous bottom-up stock selection process. The firm's commitment to investing in the "Right Business, run by the Right People, at the Right Price" has cemented its reputation among institutional and individual clients worldwide. As the first asset management firm to be listed on the Hong Kong Stock Exchange (HKSE:00806), Value Partners continues to expand its global footprint, with operations across major financial hubs.
Summary of New Buys
Value Partners Group (Trades, Portfolio) has diversified its portfolio with 19 new stock additions. Noteworthy acquisitions include:
- Micro-Star International Co Ltd (TPE:2377, Financial), securing 3,718,000 shares, which translates to 2.88% of the portfolio and a total value of NT$24.67 million.
- Xiaomi Corp (HKSE:01810, Financial), with 7,369,200 shares, making up about 1.72% of the portfolio, valued at HK$14.72 million.
- NetEase Inc (HKSE:09999, Financial), adding 518,700 shares, accounting for 1.09% of the portfolio, with a total value of HK$9.34 million.
Key Position Increases
The firm also bolstered its stakes in 9 companies, with significant increases in:
- TAL Education Group (TAL, Financial), where an additional 1,255,866 shares were purchased, resulting in a 238.53% surge in share count and a 1.85% portfolio impact, valued at $22.51 million.
- Tencent Holdings Ltd (HKSE:00700, Financial), with an additional 185,400 shares, increasing the total to 2,087,800 shares, marking a 9.75% rise in share count, valued at HK$78.47 million.
Summary of Sold Out Positions
Exiting 14 holdings, Value Partners Group (Trades, Portfolio) made decisive moves, including:
- Meituan (HKSE:03690, Financial), where all 4,242,350 shares were sold, impacting the portfolio by -7.18%.
- Contemporary Amperex Technology Co Ltd (SZSE:300750, Financial), liquidating 439,660 shares, which affected the portfolio by -1.5%.
Key Position Reductions
Value Partners Group (Trades, Portfolio) trimmed positions in 20 stocks, with the most substantial reductions in:
- AIA Group Ltd (HKSE:01299, Financial) by 1,917,200 shares, leading to a -37.89% decrease in shares and a -2.1% portfolio impact. The stock's average trading price was HK$70.17 during the quarter.
- China Telecom Corp Ltd (HKSE:00728, Financial) by 29,062,000 shares, resulting in a -43.48% share count reduction and a -1.51% portfolio impact. The stock's average trading price was HK$3.75 during the quarter.
Portfolio Overview
As of the fourth quarter of 2023, Value Partners Group (Trades, Portfolio)'s portfolio comprised 60 stocks, with top holdings including 9.89% in Taiwan Semiconductor Manufacturing Co Ltd (TPE:2330, Financial), 9.77% in PDD Holdings Inc (PDD, Financial), and 9.17% in Tencent Holdings Ltd (HKSE:00700, Financial). The firm's investments are primarily concentrated in 9 industries, spanning Technology to Real Estate.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
