- 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 December 31st, 2020, Tao Value recorded a return of +26.43%, compared to +14.4% of MSCI All Country World Index (ACWI).
- Our top contributors this quarters are Pinduoduo, Bilibili and Sea Ltd., adding 861 bps, 302 bps and 238 bps, respectively.
- Our top 3 positions are Pinduoduo, Alphabet and Sea Ltd. Collectively, they are 29% of the portfolio.
For further details see:
Tao Value Q4 2020 Letter