Value Partners Group's Strategic Moves in Q2 2024: Spotlight on Kweichow Moutai's Significant ...
Insightful Analysis of Value Partners Group (Trades, Portfolio)'s Latest Portfolio Adjustments
Value Partners Group (Trades, Portfolio), a premier asset management firm established in 1993, continues to influence the investment landscape with its strategic portfolio adjustments in the second quarter of 2024. Known for its rigorous bottom-up stock selection approach, Value Partners adheres to a value investing philosophy, focusing on acquiring businesses at the right price, managed by the right people, and within the right industry. The firm's recent filing unveils significant transactions, including new acquisitions and notable reductions, providing a window into their tactical financial maneuvers.
Summary of New Buys
During this quarter, Value Partners Group (Trades, Portfolio) expanded its portfolio by adding 43 new stocks. Noteworthy additions include:
Meituan (HKSE:03690), purchasing 3,482,600 shares, making up 5.63% of the portfolio, valued at HK$495.52 million.
Zhongji Innolight Co Ltd (SZSE:300308), with 993,923 shares, representing 2.13% of the portfolio, valued at 18.78 million.
Longwell Co (ROCO:6290), acquiring 5,799,000 shares, accounting for 1.86% of the portfolio, valued at NT$16.39 million.
Key Position Increases
The firm also escalated its stakes in several key holdings:
Xiaomi Corp (HKSE:01810), with an additional 12,715,200 shares, bringing the total to 20,084,400 shares. This adjustment marks a 172.55% increase in share count, impacting the portfolio by 3.05%, and valued at HK$423.90 million.
Hon Hai Precision Industry Co Ltd (TPE:2317), increasing by 1,335,000 shares to a total of 4,246,000 shares, a 45.86% increase, valued at NT$280.06 million.
Summary of Sold Out Positions
Value Partners Group (Trades, Portfolio) exited 26 positions entirely, including:
Micro-Star International Co Ltd (TPE:2377), selling all 3,718,000 shares, impacting the portfolio by -2.88%.
Luxshare Precision Industry Co Ltd (SZSE:002475), liquidating all 3,662,193 shares, with a -2.07% portfolio impact.
Key Position Reductions
Significant reductions were made in several holdings:
Kweichow Moutai Co Ltd (SHSE:600519) saw a reduction of 204,900 shares, a -90.57% decrease, impacting the portfolio by -5.81%. The stock traded at an average price of 1660.99 during the quarter, with a 5.38% return over the past three months and -8.09% year-to-date.
Taiwan Semiconductor Manufacturing Co Ltd (TPE:2330) reduced by 1,458,000 shares, a -33.23% decrease, impacting the portfolio by -3.29%. The stock traded at an average price of NT$758.94 during the quarter, with a 0.93% return over the past three months and a significant 78.52% year-to-date increase.
Portfolio Overview
As of the second quarter of 2024, Value Partners Group (Trades, Portfolio)'s portfolio comprised 77 stocks. The top holdings included 9.91% in Taiwan Semiconductor Manufacturing Co Ltd (TPE:2330), 9.59% in Tencent Holdings Ltd (HKSE:00700), and 7.32% in PDD Holdings Inc (NASDAQ:PDD). The portfolio's main concentrations span across 10 industries, including Technology and Consumer Cyclical.
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