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HongShan (Sequoia China) 13F Holdings and Portfolio Changes
HongShan (Sequoia China) reported $1.20B in 13F securities for Q2 2026, with 20 positions. Values are as of the report date; option positions, when present, use underlying-security values. This is not complete fund assets or investment performance.
Open interactive portfolioLatest 13F portfolio changes
New or increased positions include GYRE THERAPEUTICS (GYRE) and YIMUTIAN (YMT). Reduced or exited positions include WEBULL (BULLW) and YIMUTIAN (YMT). These are comparisons between reported positions, not a record of execution dates, prices or cash traded.
Latest filing metadata: quarter Q2 2026; report date 2026-06-30; filing date 2026-08-13; disclosure source SEC 13F.
Reported holdings and concentration
HongShan (Sequoia China)'s Q2 2026 13F report contains 20 positions valued at $1.20B. The largest reported holdings include PDD, FUTU HLDGS, PONY AI, CIRCLE INTERNET GROUP, and KE HLDGS.
The three largest positions in the holdings table account for approximately 82.5% of reported 13F value. The largest reported sector exposure is Consumer Discretionary at 72.3% of the disclosed portfolio.
The filing metadata lists report date 2026-06-30, filing date 2026-08-13, SEC accession 0001193125-26-348168. SEC 13F reports are normally published up to 45 days after quarter end, so the data is best used to understand institutional positioning after the fact rather than to infer today's exact portfolio.
HongShan (Sequoia China) portfolio analytics
the top five positions account for 88.3% of disclosed value; the largest sector exposure is Consumer Discretionary at 72.3%; latest prices differ from modeled cost estimates by an average -32.0% across 20 tracked positions (estimated costs, not reported purchase prices or actual investment returns).
Top reported holdings
| Holding | Reported value | Weight | Quarter change |
|---|---|---|---|
| PDD whale holders PDD HOLDINGS INC | $865.7M | 72.3% | Held |
| FUTU whale holders FUTU HLDGS LTD | $69.4M | 5.8% | Held |
| PYAIF whale holders PONY AI INC | $52.4M | 4.4% | Held |
| CRCL whale holders CIRCLE INTERNET GROUP INC | $41.9M | 3.5% | Held |
| BEKE whale holders KE HLDGS INC | $28.2M | 2.4% | Held |
| GYRE whale holders GYRE THERAPEUTICS INC | $24.7M | 2.1% | New |
| BZ whale holders KANZHUN LIMITED | $24.5M | 2.0% | Held |
| AVBP whale holders ARRIVENT BIOPHARMA INC | $23.0M | 1.9% | Held |
| DDL whale holders DINGDONG CAYMAN LTD | $19.5M | 1.6% | Held |
| GPCR whale holders STRUCTURE THERAPEUTICS INC | $14.3M | 1.2% | Held |
New and increased positions
Largest reported position values among additions; not amounts spent buying.
- GYRE whale holders — GYRE THERAPEUTICS INC ($24.7M)
- YMT whale holders — YIMUTIAN INC ($121.6K)
Reduced and exited positions
Sorted by reported position value; exits use the prior report. These are not sale proceeds.
- BULLW whale holders — WEBULL CORP ($55.2M)
- YMT whale holders — YIMUTIAN INC ($543.8K)
Allocation
- Consumer Discretionary: 72.3%
- Other: 18.1%
- Health Care: 5.2%
- Communication Services: 3.5%
- Information Technology: 0.9%
Data notes
Report date: 2026-06-30
Disclosure source: SEC 13F
Read the original SEC filing (0001193125-26-348168)
SEC 13F filings are delayed public disclosures and do not include every asset class, short positions, or real-time trades.
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Questions about this 13F filing
What does HongShan (Sequoia China) report for Q2 2026?
The filing reports 20 positions and $1.20B in 13F securities. The holdings table shows reported values and weights; option values follow the filing's reporting conventions.
What changed between filings?
New or increased positions include GYRE THERAPEUTICS (GYRE) and YIMUTIAN (YMT). Reduced or exited positions include WEBULL (BULLW) and YIMUTIAN (YMT).
Do these amounts show how much was bought or sold?
No. The change lists are ranked by reported position value. Exited positions use their value in the prior report. These amounts are not execution prices, cash invested or sale proceeds.
Is this the current portfolio?
No. Form 13F is a quarter-end snapshot, generally filed within 45 days of quarter end. It excludes short positions and does not cover every asset. Compare the report date and filing date before using the data.