Primavera Capital Management Ltd
Primavera Capital Management Ltd reported 5 US-listed holdings worth $565.1 million in its 13F for the quarter ended 30 June 2026, filed 13 August 2026. Its largest: Yum China Hldgs Inc. (87.0%), XPeng Inc. (7.7%) and DSC Holdings Ltd (3.7%). Against the quarter before, it opened 2 positions, added to 0, trimmed 0 and sold out of 0.
The 5 largest of its 5 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned -8.3% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 2
- DSC Holdings Ltd DSC$20.8 million
- Sunlands Technology Group STG$6.5 million
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Yum China Hldgs Inc. YUMC | 12.0M | $491.9 million | 87.05% | no change |
| XPeng Inc. XPEV | 3.3M | $43.8 million | 7.75% | no change |
| DSC Holdings Ltd DSC | 3.8M | $20.8 million | 3.68% | new |
| Sunlands Technology Group STG | 1.7M | $6.5 million | 1.15% | new |
| Cango Inc. | 10.3M | $2.1 million | 0.37% | no change |