私募巨头景林资产海外主体景林资产管理香港有限公司（以下简称景林香港公司），近日向美国证券交易委员会（SEC）提交了截至2025年三季度末的美 股持仓数据。 根据13F文件，截至2025年9月30日，景林香港公司三季度末在美股市场持有30只证券，合计持仓总市值为44.41亿美元，较二季度末的28.74亿美元大幅增 长54.52%。 总体来看，景林香港公司三季度调仓动作积极，最引人关注的是布局自动驾驶赛道，新进买入文远知行268万股；同时继续加仓Meta、英伟达等科技龙 头，增持亚朵、华住等连锁酒店股，以及拼多多、阿里巴巴等电商巨头；此外，清仓了大全新能源、携程、百济神州、禾赛科技等多只个股。 记者从渠道获悉，景林资产继续对优质中国资产持乐观态度，继续关注结构性"阿尔法"机会。 | 2025-09-30 | | | --- | --- | | 13F Activity | | | Market Value | $4.44b, Prior: $2.87b | | Inflows (Outflows) as % of Total MV | +25.5277% | | New Purchases | 9 stocks ...

【导读】景林香港公司2025年三季度末美股持仓曝光 中国基金报记者 孙越 私募巨头景林资产海外主体景林资产管理香港有限公司（以下简称景林香港公司），近日向美国证券交易委员会（SEC）提交 了截至2025年三季度末的美股持仓数据。 根据13F文件，截至2025年9月30日，景林香港公司三季度末在美股市场持有30只证券，合计持仓总市值为44.41亿美元，较二季 度末的28.74亿美元大幅增长54.52%。 总体来看，景林香港公司三季度调仓动作积极，最引人关注的是布局自动驾驶赛道，新进买入文远知行268万股；同时继续加仓 Meta、英伟达等科技龙头，增持亚朵、华住等连锁酒店股，以及拼多多、阿里巴巴等电商巨头；此外，清仓了大全新能源、携 程、百济神州、禾赛科技等多只个股。 记者从渠道获悉，景林资产继续对优质中国资产持乐观态度，继续关注结构性"阿尔法"机会。 | 2025-09-30 | | | --- | --- | | 13F Activity | | | Market Value | $4.44b, Prior: $2.87b | | Inflows (Outflows) as % of Total MV | + ...

Core Viewpoint - Jinglin Asset Management Hong Kong Company has shown a significant increase in its US stock holdings, with a total market value of $4.44 billion as of September 30, 2025, representing a 54.52% increase from the previous quarter [2][3]. Holdings Overview - As of Q3 2025, Jinglin Hong Kong Company held 30 securities in the US market, with a total market value of $4.44 billion, up from $2.87 billion in the previous quarter [2][3]. - The company actively adjusted its portfolio, making 9 new purchases, adding to 8 existing positions, selling out of 7 stocks, and reducing holdings in 6 stocks [5][8]. Major Investments - The top ten holdings accounted for 81.9% of the total US stock portfolio, indicating a slight decrease in concentration compared to the previous quarter [5][6]. - The largest holding remains Meta Platforms, with an increase of 234,600 shares, bringing the total to 1,226,000 shares [6][7]. - Significant increases were also noted in holdings of Nvidia, with an additional 1,748,300 shares acquired, and in the hotel sector with increased positions in Atour and Huazhu Group [6][7]. New Acquisitions and Exits - Notable new purchases include 2,684,200 shares of WeRide, a leading player in China's autonomous driving sector, and positions in UnitedHealth, Uber, and New Oriental [8][9]. - The company has completely exited positions in several stocks, including Daqo New Energy, Trip.com, and BeiGene, indicating a strategic shift in its investment approach [8]. Market Outlook - Jinglin Asset Management maintains a positive outlook on quality Chinese assets, emphasizing the competitive advantages of Chinese companies in terms of cost efficiency, talent, and comprehensive capabilities across the production process [10]. - The firm believes that despite market fluctuations, there are still structural opportunities worth pursuing, particularly in the context of potential inflows of overseas capital into the Chinese market [10].

近日，景林资产向美国证券交易委员会提交了最新美股持仓数据，公布了2025年三季度的调仓动向。报 告期内，景林资产整体持仓已升至44.4亿美元，约合人民币320亿元，较二季度末的28.73亿美元大幅增 长超50%，持仓共包含30只标的。 资料显示，景林资产最新前十大重仓股分别为META、网易、英伟达、拼多多、谷歌-A、满帮、富途控 股、阿里巴巴、Nebius Group和奇富科技，中概股占据半壁江山。 此前，景林资产就曾表示，非常看好中国未来几年的发展前景。其认为，中国产业当前在成本效率、人 才储备和全产业链协同等方面的全球竞争优势依然明显，接下来继续对优质中国资产持乐观态度，关注 结构性"阿尔法"机会。 与上季度末相比，景林资产在科技布局上力度较大。分别对英伟达增持277%，持仓市值升至4.44亿美 元，使其成为第三大重仓股；对谷歌-A的增持比例更高达852%。 值得一提的是，阿里巴巴在该季度也获得81%的增持，并跻身进入前十大重仓股。截至三季度末，景林 资产持有阿里巴巴84.34万股，持股市值为1.51亿美元。 实际上，景林资产加仓阿里巴巴并不意外。业绩方面，阿里巴巴2026财年第一季度营收达2476.52 ...