While the SPDR S&P 500 ETF (SPY) delivered respectable 13.67% returns year-to-date, the KraneShares CSI China Internet ETF (KWEB) surged 37.19%, creating a stunning 272% performance gap. This satellite ETF provides exposure to Chinese internet giants like Alibaba, Tencent, and PDD Holdings with minimal overlap to traditional U.S. indices, offering investors a compelling diversification opportunity as Chinese tech stocks rebound strongly after years of underperformance.
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PDD
Billionaire Shifts $334M from Nvidia to Luxury Stock Tapestry
Billionaire investor Karthik Sarma, formerly of Tiger Global and now leading SRS Investment Management, has made a significant portfolio shift by selling all of SRS’s Nvidia holdings and investing $334 million in Tapestry (TPR). Tapestry, the parent company of luxury brands like Coach and Kate Spade, has seen its stock price more than double in the past 12 months. The investment now represents 4.5% of SRS’s portfolio, making it the fund’s fourth-largest holding. Sarma’s strategy appears to balance e-commerce, fitness, and tech investments with this new foray into luxury retail. The move highlights growing investor confidence in the luxury goods sector’s strong cash flows and share-repurchase programs.
about Billionaire Shifts $334M from Nvidia to Luxury Stock Tapestry