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Livermore
Livermore
ZHEN

TB Alternative Assets Ltd.

SEC CIK
0001483503
Latest filing
Jul 17, 2026

Holdings in Q3 2021

Holdings as of Sep 30, 2021, filed Nov 2, 2021. Long positions only; changes compare share counts with Q2 2021.

Institution overview
Positions
32
−10 vs. Q2 2021
Portfolio value
$430.5M
−$71.5M (−14.2%) vs. Q2 2021
Filed
Nov 2, 2021
SEC
Holdings of TB Alternative Assets Ltd. in Q3 2021
SecurityClassSharesValue% of portfolioShare changeActionHistory
BEKEKE Holdings Inc.SPONSORED ADS8,144,663$148.7M34.5%+8,144,663NewHistory
PDDPDD Holdings Inc.SPONSORED ADS630,220$57.1M13.3%+557,080+761.7%AddedHistory
TMETencent Music Entertainment GroupSPON ADS3,101,300$22.5M5.2%+1,306,800+72.8%AddedHistory
BILIBilibili Inc.SPONS ADS REP Z285,600$18.9M4.4%+285,600NewHistory
VNETVNET Group, Inc.SPONSORED ADS A966,500$16.7M3.9%+966,500NewHistory
ZTOZTO Express (Cayman) Inc.SPONSORED ADS A483,285$14.8M3.4%−311,450−39.2%ReducedHistory
SYSo-Young International Inc.SPONSORED ADS3,067,873$13.1M3.0%00.0%UnchangedHistory
Kraneshares Trust500767306CSI CHI INTERNET273,700$13.0M3.0%+273,700New–
IQiQIYI, Inc.SPONSORED ADS1,562,300$12.5M2.9%−1,200−0.1%ReducedHistory
FUTUFutu Holdings LtdSPON ADS CL A125,600$11.4M2.7%+125,600NewHistory
ProShares Tr74347G861ULTRAPRO SHT QQQ1,148,100$9.91M2.3%+1,148,100New–
JDJD.com, Inc.SPON ADS CL A132,400$9.56M2.2%−372,800−73.8%ReducedHistory
UBERUber Technologies, IncStock208,700$9.35M2.2%−367,800−63.8%ReducedHistory
VIPSVipshop Holdings LtdSPONSORED ADS A779,800$8.69M2.0%00.0%UnchangedHistory
APIAgora, Inc.ADS293,700$8.52M2.0%+293,700NewHistory
MOGUMOGU Inc.SPON ADS8,347,939$8.10M1.9%00.0%UnchangedHistory
EDUNew Oriental Education & Technology Group Inc.SPON ADR3,570,300$7.32M1.7%+2,083,900+140.2%AddedHistory
TALKTalkspace, Inc.COM1,932,612$7.05M1.6%00.0%UnchangedHistory
DAOYoudao, Inc.SPONSORED ADS541,800$6.55M1.5%+345,000+175.3%AddedHistory
FINVFinVolution GroupSPONSORED ADS709,278$4.00M0.9%+362,700+104.7%AddedHistory
Laix Inc50736W105ADS3,703,164$3.33M0.8%00.0%Unchanged–
LITBLightInTheBox Holding Co., Ltd.SPONSORED ADR2,137,855$2.95M0.7%00.0%UnchangedHistory
BLDPBallard Power Systems Inc.COM192,100$2.70M0.6%+83,400+76.7%AddedHistory
HUYAHUYA Inc.ADS REP SHS A306,800$2.56M0.6%+206,100+204.7%AddedHistory
TALTAL Education GroupSPONSORED ADS471,100$2.28M0.5%+293,900+165.9%AddedHistory
Molecular Data Inc60852L106SPONSORED ADS5,000,000$1.76M0.4%00.0%Unchanged–
BZUNBaozun Inc.SPONSORED ADR100,200$1.76M0.4%+100,200NewHistory
Azul S A05501U106SPONSR ADR PFD68,200$1.37M0.3%−68,300−50.0%Reduced–
Puxin Ltd74704P108ADS2,246,600$1.30M0.3%00.0%Unchanged–
YJYunji Inc.ADS RP CL A1,538,249$1.10M0.3%00.0%UnchangedHistory
FENGPhoenix New Media LtdSPONSORED ADS739,800$947.0K0.2%00.0%UnchangedHistory
WDHWaterdrop Inc.ADS243,800$583.0K0.1%−5,100−2.0%ReducedHistory

Sold out since Q2 2021 (18)

Positions held at the end of Q2 2021 that are gone from this filing.

Positions of TB Alternative Assets Ltd. sold out since Q2 2021
SecurityClassShares in Q2 2021Value in Q2 2021% of portfolio in Q2 2021History
LULufax Holding LtdADS REP SHS CL A2,627,360$29.7M5.9%History
SLGSL Green Realty CorpCOM333,688$26.7M5.3%History
BABoeing CoStock101,600$24.3M4.8%History
JOYYJOYY Inc.ADS REPSTG COM A354,840$23.4M4.7%History
AAPLApple Inc.Stock151,600$20.8M4.1%History
ZZillow Group, Inc.CL C CAP STK164,800$20.1M4.0%History
PKPark Hotels & Resorts Inc.COM855,300$17.6M3.5%History
BABAAlibaba Group Holding LtdADR63,050$14.3M2.8%History
SNAPSnap IncStock117,500$8.01M1.6%History
STWDStarwood Property Trust, Inc.COM254,900$6.67M1.3%History
INTCIntel CorpStock117,000$6.57M1.3%History
GOOSCanada Goose Holdings Inc.SHS SUB VTG81,200$3.55M0.7%History
LILi Auto Inc.SPONSORED ADS92,200$3.22M0.6%History
AXIAYAXIA Energia S.A.SPONSORED ADR310,400$2.69M0.5%History
CYHCommunity Health Systems IncCOM151,500$2.34M0.5%History
BTBTBit Digital, IncSHS300,000$2.05M0.4%History
DIDIYDiDi Global Inc.SPONSORED ADS142,000$2.01M0.4%History
BZKanzhun LtdSPONSORED ADS26,000$1.03M0.2%History