AI-Squared Management Ltd In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), AI-Squared Management Ltd reported 17 stock positions worth $108.6 million . Its top holding was PDD (PDD) at 43.7% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 8.9% ) and Ke Holdings Inc.-ADR (BEKE, 8.1% ). Compared with Q4 2023, it opened 7 new positions, sold out of 6, added to 1 and reduced 7. The biggest buy was PDD (PDD, shares +171% ) and the biggest sale Alibaba Group Holding-SP ADR (BABA, shares −36% ).
Location HONG KONG, K3
CIK 0001933952
Portfolio Value $108.6M (Q1 2024) Holdings 17 stocks · $108.6M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 PDD PDD Holdings Inc. 408,778 $47.5M Add +171.2% TSM Taiwan Semiconductor-SP ADR 71,400 $9.7M New BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 638,810 $8.8M Reduce -7.0% TCOM Trip.com Group Ltd.-ADR 153,600 $6.7M New BABA Alibaba Group Holding-SP ADR 92,400 $6.7M Reduce -35.6% TAL Tal Education Group- ADR 471,500 $5.4M New NTES Netease Inc.-ADR 51,031 $5.3M Reduce -35.1% QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC 172,800 $3.2M Reduce -18.9% MU Micron Technology Inc. 25,000 $2.9M Reduce -29.0% ATAT Atour Lifestyle Holdings-ADR 158,158 $2.8M Reduce -7.9% QCOM Qualcomm Inc. 16,500 $2.8M New VLN Valens Semiconductor Ltd. 834,374 $2.0M No change DIREXION SHS ETF TR 189,750 $1.4M New WDC Western Digital Corp. 19,500 $1.3M New LU Lufax Holding Ltd.-ADR 244,650 $1.0M Reduce -26.8% LI Li Auto Inc. - ADR 20,900 $633K New VNET Vnet Group Inc.-ADR 311,234 $482K No change
Options reported separately and not counted above: QQQ puts ($24.4M).
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ BABA Alibaba Group Holding-SP ADR Reduce -35.6% 6.15% −8.03 NVDA Nvidia Corp. Sold out 0.00% −7.27 BEKE Ke Holdings Inc.-ADR Reduce -7.0% 8.07% −6.12 NTES Netease Inc.-ADR Reduce -35.1% 4.86% −4.47 SMCI Super Micro Computer Inc. Sold out 0.00% −3.25 HTHT H World Group Ltd.-ADR Sold out 0.00% −2.54 DIREXION SHS ETF TR Sold out 0.00% −1.54 NIO Nio Inc. - ADR Sold out 0.00% −1.40 QFIN Qfin Holdings Inc.-ADR Reduce -18.9% 2.93% −1.37 SN Sharkninja Inc. Sold out 0.00% −1.22 ATAT Atour Lifestyle Holdings-ADR Reduce -7.9% 2.61% −1.19 MU Micron Technology Inc. Reduce -29.0% 2.71% −1.12 LU Lufax Holding Ltd.-ADR Reduce -26.8% 0.95% −0.36
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ PDD PDD Holdings Inc. Add +171.2% 43.74% +15.63 TSM Taiwan Semiconductor-SP ADR New 8.94% +8.94 TCOM Trip.com Group Ltd.-ADR New 6.20% +6.20 TAL Tal Education Group- ADR New 4.93% +4.93 QCOM Qualcomm Inc. New 2.57% +2.57 DIREXION SHS ETF TR New 1.27% +1.27 WDC Western Digital Corp. New 1.22% +1.22 LI Li Auto Inc. - ADR New 0.58% +0.58
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ QQQ Invesco QQQ Trust Series 1 put New 55,000 $24.4M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
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