The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ADVANCED MICRO DEVICES AMD US COM 007903107 956 75,000 SH   DFND   75,000 0 0
AMAZON.COM INC AMZN US COM 023135106 11,248 11,700 SH   DFND   11,700 0 0
ALIBABA GROUP HOLDING-SP ADR BABA US SPONSORED ADS 01609W102 68,583 397,100 SH   DFND   397,100 0 0
BAOZUN INC-SPN ADR BZUN US SPONSORED ADR 06684L103 44,810 1,367,839 SH   DFND   1,367,839 0 0
NEW ORIENTAL EDUCATIO-SP ADR EDU US SPON ADR 647581107 16,309 184,778 SH   DFND   184,778 0 0
FACEBOOK INC-A FB US CL A 30303M102 1,555 9,100 SH   DFND   9,100 0 0
GILEAD SCIENCES INC GILD US COM 375558103 1,637 20,200 SH   DFND   20,200 0 0
JD.COM INC-ADR JD US SPON ADR CL A 47215P106 17,679 462,800 SH   DFND   462,800 0 0
MACY'S INC M US COM 55616P104 1,759 80,600 SH   DFND   80,600 0 0
PAYPAL HOLDINGS INC PYPL US COM 70450Y103 807 12,600 SH   DFND   12,600 0 0
SNAP INC - A SNAP US CL A 83304A106 3,661 251,800 SH   DFND   251,800 0 0
TAL EDUCATION GROUP- ADR TAL US SPONSORED ADS 874080104 95,616 2,836,432 SH   DFND   2,836,432 0 0
TESLA INC TSLA US COM 88160R101 3,786 11,100 SH   DFND   11,100 0 0
VIPSHOP HOLDINGS LTD - ADS VIPS US SPONSORED ADR 92763W103 873 99,300 SH   DFND   99,300 0 0
VALEANT PHARMACEUTICALS INTE VRX US COM 91911K102 8,501 593,200 SH   DFND   593,200 0 0