XY Capital Dumps 419,000 JD.com Shares in $13.7 Million Exit
Key Points
XY sold 419,251 shares, closing out a position previously valued at $13.68 million.
It represents a 7.21% decrease relative to 13F reportable assets under management (AUM).
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XY Capital Ltd disclosed a complete exit from JD.com (NASDAQ:JD) in its November 13, 2025, SEC filing.
What happened
According to a filing with the Securities and Exchange Commission dated November 13, 2025, XY Capital Ltd sold all 419,251 shares of JD.com, closing its position. The estimated transaction value is $13.68 million, based on quarterly average pricing. The fund reported 157 total positions and $189.92 million in 13F reportable U.S. equity assets after this filing.
What else to know
Top holdings after the filing (not including stock options):
- NYSE: BABA: $15.23 million (12.7% of AUM)
- NYSE: BEKE: $9.50 million (7.9% of AUM)
- NYSE: YUMC: $6.55 million (5.5% of AUM)
- NYSEMKT: FXI: $5.96 million (5.0% of AUM)
- NYSE: AEG: $5.48 million (4.6% of AUM)
- As of November 13, 2025, shares were priced at $30.71, down 11.47% over the past year and underperforming the S&P 500 by 25.07 percentage points
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-11-13) | $30.71 |
| Market Capitalization | $43.55 billion |
| Revenue (TTM) | $181.9 billion |
| Net Income (TTM) | $4.49 billion |
Company Snapshot
- Offers a broad portfolio of products including electronics, home appliances, general merchandise, fresh produce, apparel, and healthcare items, complemented by logistics, marketing, and technology-driven supply chain services.
- Operates a supply chain-based e-commerce platform, generating revenue through direct online sales, third-party marketplace services, logistics solutions, and value-added technology offerings.
- Targets consumers and businesses across China, serving both individual shoppers and enterprise clients seeking integrated retail and logistics solutions.
JD.com, Inc. is a leading Chinese e-commerce and supply chain technology provider with extensive scale and a diversified product offering. The company leverages its proprietary logistics infrastructure and digital capabilities to deliver efficient, reliable service to a broad customer base. Its integrated model and focus on technology-driven supply chain solutions position it competitively in the rapidly evolving retail and logistics landscape.
Foolish take
XY Capital has closed out its JD.com position amid a long-term downtrend in the stock. Although the stock stopped falling in 2024, the increases since that time have been minimal.
Admittedly, other Chinese stocks, such as JD.com’s largest competitor, Alibaba, experienced a comparable decline until 2024. Also, investors often turn to a No. 2 company in a given industry, and JD.com certainly fits that description in the Chinese market.
However, Alibaba has dramatically outperformed JD.com since that time. Moreover, JD.com has stuck primarily to retailing and logistics operations, though it has become a retail-as-a-service provider for its partners.
In contrast, Alibaba has more closely followed Amazon’s tech conglomerate model. Since Alibaba also has a cloud segment, it may appear more attractive to investors like XY Capital, which, as previously mentioned, is the fund's largest holding.
Additionally, investors have numerous choices when it comes to tech-driven e-commerce conglomerates. With the additional risk of Chinese stocks, XY Capital may have decided it feels more comfortable investing in market leader Alibaba.
Glossary
13F reportable assets: U.S. equity securities that institutional investment managers must disclose quarterly to the SEC using Form 13F.
Assets under management (AUM): The total market value of investments managed by a fund or investment firm on behalf of clients.
Quarterly average pricing: The average price of a security over a given quarter, often used for estimating transaction values.
Position: The amount of a particular security or asset held by an investor or fund.
Complete exit: Selling all shares of a security, resulting in no remaining ownership in that position.
Filing: An official document submitted to a regulatory agency, such as the SEC, disclosing financial or operational information.
TTM: The 12-month period ending with the most recent quarterly report.
Third-party marketplace services: Services allowing external sellers to offer products on a company’s e-commerce platform, generating fees or commissions.
Value-added technology offerings: Additional technology-based services provided to customers beyond basic product sales, often for a fee.
Integrated model: A business structure combining multiple functions—such as sales, logistics, and technology—within one organization for efficiency.
Supply chain-based e-commerce platform: An online retail system that manages product flow from suppliers to customers, emphasizing logistics and delivery efficiency.
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Will Healy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon. The Motley Fool recommends Alibaba Group and JD.com and recommends the following options: long January 2027 $47.50 calls on Yum China and short January 2027 $52.50 calls on Yum China. The Motley Fool has a disclosure policy.
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