CIK 1809525
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Commercial Services & Supplies | 72.60% | 2 |
| Pharmaceuticals & Biotechnology | 8.97% | 6 |
| Unclassified | 5.23% | 7 |
| Banks | 4.48% | 1 |
| Real Estate Management & Development | 3.03% | 1 |
| Automobiles & Components | 2.84% | 1 |
| Software & IT Services | 1.94% | 1 |
| Software | 0.39% | 2 |
| Technology Hardware & Equipment | 0.20% | 1 |
| Semiconductors & Semiconductor Equipment | 0.17% | 1 |
| Marine | 0.10% | 1 |
| Specialty Retail | 0.05% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | PDD | PDD Holdings Inc. | Industrials | 65.78% |
| 2 | LEGN | Legend Biotech Corp | Health Care | 8.17% |
| 3 | BABA | Alibaba Group Holding Ltd | Industrials | 6.82% |
| 4 | CRCL | Circle Internet Group, Inc. | Financials | 4.48% |
| 5 | IBIT | ISHARES BITCOIN TRUST ETF | Unclassified | 3.59% |
| 6 | BEKE | Ke Holdings Inc. | Real Estate | 3.03% |
| 7 | TSLA | Tesla, Inc. | Consumer Discretionary | 2.84% |
| 8 | HUYA | HUYA Inc. | Information Technology | 1.94% |
| 9 | GLD | SPDR GOLD TR | Unclassified | 0.73% |
| 10 | ARWR | ARROWHEAD PHARMACEUTICALS, INC. | Health Care | 0.25% |
18/25 names classified · sector 94.8% of weight · industry 94.8% · mkt cap 8.9%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 94.8% of the book is sector-classified (unclassified names shown, never dropped).
Only 4% of book weight classified — the grid is NOT representative of the whole book.
Classified: 3.6% of book weight (5/25 names) · unclassified 96.4%: PDD, LEGN, BABA, CRCL, IBIT, BEKE, HUYA, GLD, ARWR, URNM +10 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | PDDPDD HOLDINGS INC | 1,145,409 | $117M | 65.8% | ADD 16% |
| 2 | LEGNLEGEND BIOTECH CORP | 804,000 | $15M | 8.2% | HOLD |
| 3 | BABAALIBABA GROUP HLDG LTD | 96,700 | $12M | 6.8% | HOLD |
| 4 | CRCLCIRCLE INTERNET GROUP INC | 83,500 | $8M | 4.5% | NEW |
| 5 | IBITISHARES BITCOIN TRUST ETF | 166,400 | $6M | 3.6% | TRIM −33% |
| 6 | BEKEKE HLDGS INC | 360,000 | $5M | 3.0% | NEW |
| 7 | TSLATESLA INC | 13,600 | $5M | 2.8% | TRIM −48% |
| 8 | HUYAHUYA INC | 1,047,983 | $3M | 1.9% | ADD 6% |
| 9 | GLDSPDR GOLD TR | 3,000 | $1M | 0.7% | HOLD |
| 10 | ARWRARROWHEAD PHARMACEUTICALS IN | 7,000 | $438,900 | 0.2% | TRIM −18% |
| 11 | URNMSPROTT FDS TR | 6,520 | $411,738 | 0.2% | NEW |
| 12 | COPXGLOBAL X FDS | 5,000 | $381,750 | 0.2% | ADD 43% |
| 13 | MSFTMICROSOFT CORP | 1,000 | $370,170 | 0.2% | HOLD |
| 14 | AVBPARRIVENT BIOPHARMA INC | 16,000 | $369,120 | 0.2% | NEW |
| 15 | CSCOCISCO SYS INC | 4,500 | $349,155 | 0.2% | HOLD |
| 16 | SNPSSYNOPSYS INC | 800 | $317,184 | 0.2% | HOLD |
| 17 | SILGLOBAL X FDS | 3,500 | $315,280 | 0.2% | NEW |
| 18 | AMDADVANCED MICRO DEVICES INC | 1,500 | $305,145 | 0.2% | HOLD |
| 19 | JOYYJOYY INC | 5,000 | $291,950 | 0.2% | NEW |
| 20 | NTLAINTELLIA THERAPEUTICS INC | 19,830 | $254,221 | 0.1% | ADD 3% |
| 21 | GDXVANECK ETF TRUST GOLD MINERS ETF | 2,500 | $229,425 | 0.1% | NEW |
| 22 | BEAMBEAM THERAPEUTICS INC | 8,600 | $204,938 | 0.1% | HOLD |
| 23 | DHTDHT HOLDINGS INC | 10,000 | $182,700 | 0.1% | NEW |
| 24 | PRMEPRIME MEDICINE INC | 41,800 | $145,464 | 0.1% | HOLD |
| 25 | REREATRENEW INC | 20,000 | $93,800 | 0.1% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| PDDPDD HOLDINGS INC | 930K | 864K | 1.1M | 1.0M | 992K | 1.1M | $117M |
| LEGNLEGEND BIOTECH CORP | 267K | 844K | 870K | 857K | 804K | 804K | $15M |
| BABAALIBABA GROUP HLDG LTD | 3K | 181K | 184K | 111K | 97K | 97K | $12M |
| CRCLCIRCLE INTERNET GROUP INC | — | — | — | — | — | 84K | $8M |
| IBITISHARES BITCOIN TRUST ETF | 613K | 613K | 610K | 406K | 249K | 166K | $6M |
| BEKEKE HLDGS INC | — | — | — | — | — | 360K | $5M |
| TSLATESLA INC | 49K | — | — | — | 26K | 14K | $5M |
| HUYAHUYA INC | — | — | — | — | 985K | 1.0M | $3M |
| GLDSPDR GOLD TR | 2K | 3K | 3K | 3K | 3K | 3K | $1M |
| ARWRARROWHEAD PHARMACEUTICALS IN | — | — | — | 11K | 9K | 7K | $438,900 |
| URNMSPROTT FDS TR | — | — | — | — | — | 7K | $411,738 |
| COPXGLOBAL X FDS | — | — | — | — | 4K | 5K | $381,750 |
| MSFTMICROSOFT CORP | 1K | 1K | 1K | 1K | 1K | 1K | $370,170 |
| AVBPARRIVENT BIOPHARMA INC | — | — | — | — | — | 16K | $369,120 |
| CSCOCISCO SYS INC | 5K | 5K | 5K | 5K | 5K | 5K | $349,155 |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Where this firm's principals came from and which firms its alumni went on to found.
