Primavera Capital Management Ltd — Q4 2025 13F-HR

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Q4 2025 · 13F-HR

Primavera Capital Management Ltdholdings as filed

Filed 2026-02-13 · accession 0000945621-26-000297

$657.1M

Reported value

Positions

2025-12-31

Period end

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The Brief · Primavera Capital Management Ltd · Q4 2025

AI · grounded in 13F

Primavera Capital Management Ltd doubled its position in 9C0A (CANGO INC.) this quarter. The fund added one new position to its portfolio. Total assets under management stand at $657.1M across three total positions.

Holdings as filed

CUSIP	Ticker	Issuer	Value	% port.	Shares	Class	Voting
98850P109	YUMC	YUM CHINA HLDGS INC.	$574.6M	87.4%	12,035,635	Common	SOLE
98422D105	XPEV	XPENG INC.	$67.1M	10.2%	3,306,567	Common	SOLE
137586103	9C0A	CANGO INC.	$15.5M	2.35%	10,308,662	Common	SOLE

Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.