FACTORIAL MANAGEMENT Ltd

Key Holdings

The portfolio is dominated by three distinct positions, with the top holding, HDFC Bank Ltd (HDB), comprising 42.47% of the total assets valued at $2.06 million. This represents a significant overweight to the Indian financial sector, holding 56,000 shares. The second and third largest positions are in Chinese technology and travel sectors. Alibaba Group Holding Ltd accounts for 32.10% of the portfolio ($1.55 million), held via 1.00 million shares, while Trip.com Group Ltd makes up 25.43% ($1.23 million), also held via 1.00 million shares. Notably, the positions in Alibaba and Trip.com are held in equal share counts (1 million each), though the disparity in their market capitalizations results in different portfolio weightings.