On August 7, Greenwoods Asset Management released details of its U.S. securities portfolio as of the close of the second quarter in 2026. The data indicated that the aggregate market value of its U.S. equity holdings experienced a sharp decrease, dropping from $3.878 billion at the end of Q1 to $2.186 billion, marking a significant 43.64% quarter-over-quarter reduction. Throughout Q2, Greenwoods completely exited its positions in prominent tech stocks, such as Meta, Amazon, and NVIDIA. Simultaneously, it divested its entire holdings in Alibaba, New Oriental, TAL Education, UnitedHealth Group, and Lumentum. Following the accumulation of a substantial amount of cash, Greenwoods strategically redeployed its capital into the semiconductor equipment and data center infrastructure sectors. In this quarter, the company established new positions in chipmaking equipment behemoth ASML Holding (ASML), Applied Materials (AMAT), optical communications company Applied Optoelectronics (AAOI), and data center operator 21Vianet Group (VNET).