I typically hold 10 to 15 instruments, with each position consisting between 5-10% of the portfolio. My typical holding period is 1 to 3 years, with special situation and distressed.
For the quarter ended September 30th, 2020, Tao Value recorded a return of +7.08%, compared to +8.41% of MSCI All Country World Index (ACWI).
Our top contributors this quarters are Sea Ltd., MeiDong Auto and KE Holdings, adding 398 bps, 312 bps and 134 bps respectively.
Top 3 positions are Sea Ltd., Alphabet and MeiDong Auto. Collectively, they are 28%of the portfolio.