5 Latest Stock Picks of Chinese Billionaire Chen Tianqiao’s Shanda Asset Management

2. New Oriental Education & Technology Group Inc. (NYSE:EDU)

Shanda Asset Management’s Stake Value: $7.6 million CALL Options

Percentage of Shanda Asset Management’s 13F Portfolio: 0.79%

Number of Hedge Fund Holders: 32

New Oriental Education & Technology Group Inc. (NYSE:EDU) is a Chinese private education provider. Its services include college and school education programs alongside entry test preparations.

Mr. Chen’s hedge fund bought 3.7 million call options for New Oriental Education & Technology Group Inc. (NYSE:EDU) during Q3 2021. These were worth $7.6 million and represented 0.79% of its portfolio. Out of 867 hedge funds part of Insider Monkey’s third-quarter 2021 research, 32 had owned New Oriental Education & Technology Group Inc. (NYSE:EDU)’s shares.

Jonathan Guo’s Yiheng Capital is New Oriental Education & Technology Group Inc. (NYSE:EDU)’s largest investor through owning 39 million shares worth $80 million.

New Oriental Education & Technology Group Inc. (NYSE:EDU) was mentioned by Polen Capital in its Q3 2021 investor letter. Polen, which exited its position, outlined that:

“The quarter’s leading detractors were Chinese companies that were impacted by the CCP’s regulatory crackdown and liquidity concerns at property developer Evergrande. New Oriental Education—the largest provider of private educational services in China—moved sharply lower in July after policymakers implemented new rules which effectively turned Chinese tutoring companies into non-profits. Looking at New Oriental Education, we closed our position as soon as government policy became clear and used the proceeds to allocate to existing holdings.