He remained there the rest of his life, serving under nine presidents. At 28, Jackson entered the United States Congress as its youngest member. Jackson was born and died in Everett, Snohomish County, the rough-edged industrial port on Puget Sound north of Seattle, where he lived in the house where he was born for much of his life (when Congress was not in session). (Scoop) Jackson was one of the most successful and powerful politicians in the history of Washington state. didn’t respond to emails seeking comment.Henry M. HHLR Advisors Ltd., SeaTown Holdings, FengHe Fund Management, Franchise Capital Management Ltd., Greenwoods Asset Management Hong Kong Ltd., MY.Alpha Management HK Advisors Ltd., Oxbow Capital Management (HK) Ltd. Some funds remained skeptical about the outlook of Chinese e-commerce companies, leading to cut backs in Alibaba and JD.com.Īspex, CoreView Capital Management Ltd., Oasis Management Co., Ovata Capital Management Ltd., Perseverance Asset Management declined to comment. Nvidia and TSMC were reduced by the biggest number of funds in the three months through June, joining Alphabet Inc. Seven managers kept or added to their positions in Chinese online property platform operator KE Holdings Inc., whose US-traded shares jumped 45% in the quarter. Meal and express delivery, semiconductors, e-commerce, electric vehicle and online brokerages were among the most crowded trades. His fund bought Nvidia and TSMC shares in the quarter, before TSMC raised its 2022 revenue forecast and said it would cut spending on expansion in mid-July. Hermes Li’s Hong Kong-based Aspex, which managed $8 billion earlier this year, went the other direction. The semiconductor industry is bracing for what could become the worst decline in a decade or more, due to a downturn in demand for consumer electronics. The semiconductor trade is losing luster, with some of the Asian funds selling Advanced Micro Devices Inc., the second-largest maker of chips that run computers, Nvidia Corp., and Taiwan Semiconductor Manufacturing Co. Sea is down 82% from a high in October 2021. topped the chart, Alibaba represented the biggest percentage increase in combined positions, measured in number of shares, from the previous quarter.Īlibaba’s US shares have slumped 72% since October 2020. The following charts give some overview of their quarter-end holdings.Į-commerce, delivery, solar energy companies, and electric vehicle makers made up the funds’ 20 largest combined holdings by market value at the end of June. The filings also don’t reveal short-selling activities or timing of the trades. US-listed Asian companies tend to concentrate in the technology and health-care industries, meaning the filings may give a biased picture of the funds’ industry exposure. The 13F filings, a quarterly report of US-listed holdings by money managers, provide a snapshot of the quarter-end positions of Asia’s largest funds, albeit offering less insight than for their their US peers that have more of their holdings in New York.Ī growing number of Chinese technology firms are now also listed in Asia, and the switch from US-listed to Asia-traded shares may explain some of the position changes. A Nasdaq gauge with heavy exposure to Chinese technology firms has slumped nearly 67% since a February 2021 peak, as the regulatory crackdowns and geopolitical tensions spooked investors. The choppy markets put Asia’s hedge funds to the test.
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