AI-Squared Management Ltd
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 12, 2026), AI-Squared Management Ltd reported 19 stock positions worth $187.5 million. Its top holding was PDD (PDD) at 13.3% of the portfolio, followed by Baidu Inc. - Spon ADR (BIDU, 9.5%) and Sandisk (SNDK, 9.0%). Compared with Q1 2026, it opened 8 new positions, sold out of 8, added to 7 and reduced 4. The biggest buy was a new position in PDD (PDD) and the biggest sale an exit from Lumentum (LITE).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001933952
- Portfolio Value
- $187.5M (Q2 2026)
- SEC Filing
- 0001933952-26-000004 ↗ filed Aug 12, 2026
Holdings Value
Holdings 19 stocks · $187.5M
| PDD PDD Holdings Inc. | 13.33% | 327,700 | $25.0M | New |
| BIDU Baidu Inc. - Spon ADR | 9.53% | 156,308 | $17.9M | Add +142.1% |
| SNDK Sandisk Corp. | 8.97% | 7,400 | $16.8M | Reduce -65.0% |
| STAA Staar Surgical Co. | 8.30% | 542,420 | $15.6M | Add +102.3% |
| JD Jd.com Inc.-ADR | 6.93% | 509,900 | $13.0M | New |
| BABA Alibaba Group Holding-SP ADR | 6.77% | 132,236 | $12.7M | Add +2219.9% |
| QCOM Qualcomm Inc. | 5.72% | 57,990 | $10.7M | New |
| ATAT Atour Lifestyle Holdings-ADR | 5.12% | 301,984 | $9.6M | Add +2.1% |
| NBIS Nebius Group NV | 4.91% | 33,362 | $9.2M | New |
| TSM Taiwan Semiconductor-SP ADR | 4.53% | 17,800 | $8.5M | Add +32.8% |
| VNET Vnet Group Inc.-ADR | 4.40% | 1,026,500 | $8.3M | Add +67.1% |
| CRWV Coreweave Inc. Class A | 3.70% | 69,661 | $6.9M | New |
| NVDA Nvidia Corp. | 3.65% | 34,200 | $6.8M | Reduce -13.9% |
| MU Micron Technology Inc. | 3.26% | 5,300 | $6.1M | Reduce -85.8% |
| CBRS Cerebras Systems Inc. Class A | 3.17% | 26,900 | $5.9M | New |
| NOK Nokia Corp.-Spon ADR | 2.93% | 413,500 | $5.5M | New |
| AMD Advanced Micro Devices | 2.35% | 7,600 | $4.4M | Reduce -86.4% |
| TCOM Trip.com Group Ltd.-ADR | 2.16% | 101,800 | $4.1M | Add +7.4% |
| CRCL Circle Internet Group Inc. | 0.25% | 7,400 | $463K | New |
Portfolio Sells Q1 2026 → Q2 2026
| LITE Lumentum Holdings Inc. | Sold out | 0.00% | −18.58 |
| MU Micron Technology Inc. | Reduce -85.8% | 3.26% | −5.93 |
| AMD Advanced Micro Devices | Reduce -86.4% | 2.35% | −5.92 |
| DOCN Digitalocean Holdings Inc. | Sold out | 0.00% | −5.09 |
| FUTU Futu Holdings Ltd.-ADR | Sold out | 0.00% | −3.36 |
| TER Teradyne Inc. | Sold out | 0.00% | −3.34 |
| GDS GDS Holdings Ltd. - ADR | Sold out | 0.00% | −3.11 |
| RMBS Rambus Inc. | Sold out | 0.00% | −3.10 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −1.67 |
| SNPS Synopsys Inc. | Sold out | 0.00% | −1.65 |
| NVDA Nvidia Corp. | Reduce -13.9% | 3.65% | −1.39 |
| SNDK Sandisk Corp. | Reduce -65.0% | 8.97% | −0.80 |
Portfolio Buys Q1 2026 → Q2 2026
| PDD PDD Holdings Inc. | New | 13.33% | +13.33 |
| JD Jd.com Inc.-ADR | New | 6.93% | +6.93 |
| BABA Alibaba Group Holding-SP ADR | Add +2219.9% | 6.77% | +6.25 |
| QCOM Qualcomm Inc. | New | 5.72% | +5.72 |
| NBIS Nebius Group NV | New | 4.91% | +4.91 |
| STAA Staar Surgical Co. | Add +102.3% | 8.30% | +4.65 |
| BIDU Baidu Inc. - Spon ADR | Add +142.1% | 9.53% | +4.29 |
| CRWV Coreweave Inc. Class A | New | 3.70% | +3.70 |
| CBRS Cerebras Systems Inc. Class A | New | 3.17% | +3.17 |
| NOK Nokia Corp.-Spon ADR | New | 2.93% | +2.93 |
| TSM Taiwan Semiconductor-SP ADR | Add +32.8% | 4.53% | +1.24 |
| VNET Vnet Group Inc.-ADR | Add +67.1% | 4.40% | +0.65 |
| CRCL Circle Internet Group Inc. | New | 0.25% | +0.25 |
| TCOM Trip.com Group Ltd.-ADR | Add +7.4% | 2.16% | −1.27 |
| ATAT Atour Lifestyle Holdings-ADR | Add +2.1% | 5.12% | −2.80 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 19 | $187.5M | PDD, BIDU, SNDK, STAA, JD |
| Q1 2026 | 19 | $137.4M | LITE, SNDK, MU, AMD, ATAT |
| Q4 2025 | 18 | $86.1M | BIDU, TSM, AMD, CSIQ, NVDA |
| Q3 2025 | 20 | $96.0M | PDD, BIDU, ONTO, ATAT, HTZ |
| Q2 2025 | 6 | $22.2M | BABA, TSM, ATAT, PDD, JD |
| Q1 2025 | 15 | $76.4M | MU, TSM, TAL, JOYY, WDC |
| Q4 2024 | 20 | $98.1M | PDD, JOYY, ATAT, BABA, JD |
| Q3 2024 | 23 | $86.9M | TAL, EDU, FUTU, JD, AMD |
| Q2 2024 | 23 | $109.6M | PDD, TAL, AMZN, DELL, NTES |
| Q1 2024 | 17 | $108.6M | PDD, TSM, BEKE, TCOM, BABA |