AI-Squared Management Ltd In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 9, 2024), AI-Squared Management Ltd reported 23 stock positions worth $109.6 million . Its top holding was PDD (PDD) at 42.1% of the portfolio, followed by Tal Education Group- ADR (TAL, 7.4% ) and Amazon.com (AMZN, 7.0% ). Compared with Q1 2024, it opened 13 new positions, sold out of 7, added to 3 and reduced 7. The biggest buy was a new position in Amazon.com (AMZN) and the biggest sale an exit from Taiwan Semiconductor-SP ADR (TSM).
Location HONG KONG, K3
CIK 0001933952
Portfolio Value $109.6M (Q2 2024) Holdings 23 stocks · $109.6M 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 Q1 2024 PDD PDD Holdings Inc. 347,151 $46.2M Reduce -15.1% TAL Tal Education Group- ADR 758,442 $8.1M Add +60.9% AMZN Amazon.com Inc. 39,700 $7.7M New DELL Dell Technologies -C 42,300 $5.8M New NTES Netease Inc.-ADR 57,600 $5.5M Add +12.9% WDC Western Digital Corp. 68,500 $5.2M Add +251.3% EDU New Oriental Educatio-SP ADR 55,800 $4.3M New TCOM Trip.com Group Ltd.-ADR 66,500 $3.1M Reduce -56.7% AMD Advanced Micro Devices 18,400 $3.0M New QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC 110,500 $2.2M Reduce -36.0% FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 29,700 $1.9M New ENPH Enphase Energy Inc. 18,500 $1.8M New ATAT Atour Lifestyle Holdings-ADR 95,100 $1.7M Reduce -39.9% MGM MGM Resorts International 36,700 $1.6M New SNOW Snowflake Inc. 11,800 $1.6M New ABNB Airbnb Inc. Class A 10,000 $1.5M New BABA Alibaba Group Holding-SP ADR 20,500 $1.5M Reduce -77.8% NVDA Nvidia Corp. 11,800 $1.5M New ONTO Onto Innovation Inc. 6,600 $1.4M New NIO Nio Inc. - ADR 334,200 $1.4M New DIREXION SHS ETF TR 182,100 $1.4M New VLN Valens Semiconductor Ltd. 332,241 $1.1M Reduce -60.2% VNET Vnet Group Inc.-ADR 2,434 $5K Reduce -99.2%
Options reported separately and not counted above: SPY puts ($37.3M), QQQ puts ($30.9M).
Portfolio Sells Q1 2024 → Q2 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 Q1 2024 % Of Portfolio Change To Portfolio ▲ TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −8.94 BEKE Ke Holdings Inc.-ADR Sold out 0.00% −8.07 BABA Alibaba Group Holding-SP ADR Reduce -77.8% 1.35% −4.81 TCOM Trip.com Group Ltd.-ADR Reduce -56.7% 2.85% −3.35 MU Micron Technology Inc. Sold out 0.00% −2.71 QCOM Qualcomm Inc. Sold out 0.00% −2.57 PDD PDD Holdings Inc. Reduce -15.1% 42.12% −1.62 DIREXION SHS ETF TR Sold out 0.00% −1.27 ATAT Atour Lifestyle Holdings-ADR Reduce -39.9% 1.59% −1.02 LU Lufax Holding Ltd.-ADR Sold out 0.00% −0.95 QFIN Qfin Holdings Inc.-ADR Reduce -36.0% 1.99% −0.94 VLN Valens Semiconductor Ltd. Reduce -60.2% 0.97% −0.84 LI Li Auto Inc. - ADR Sold out 0.00% −0.58 VNET Vnet Group Inc.-ADR Reduce -99.2% 0.00% −0.44
Portfolio Buys Q1 2024 → Q2 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 Q1 2024 % Of Portfolio Change To Portfolio ▼ AMZN Amazon.com Inc. New 7.00% +7.00 DELL Dell Technologies -C New 5.32% +5.32 EDU New Oriental Educatio-SP ADR New 3.96% +3.96 WDC Western Digital Corp. Add +251.3% 4.74% +3.51 AMD Advanced Micro Devices New 2.72% +2.72 TAL Tal Education Group- ADR Add +60.9% 7.39% +2.46 FUTU Futu Holdings Ltd.-ADR New 1.78% +1.78 ENPH Enphase Energy Inc. New 1.68% +1.68 MGM MGM Resorts International New 1.49% +1.49 SNOW Snowflake Inc. New 1.45% +1.45 ABNB Airbnb Inc. Class A New 1.38% +1.38 NVDA Nvidia Corp. New 1.33% +1.33 ONTO Onto Innovation Inc. New 1.32% +1.32 NIO Nio Inc. - ADR New 1.27% +1.27 DIREXION SHS ETF TR New 1.27% +1.27 NTES Netease Inc.-ADR Add +12.9% 5.02% +0.16
Options Activity Q1 2024 → Q2 2024 Security Type Change vs Q1 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 68,500 $37.3M QQQ Invesco QQQ Trust Series 1 put Add +17.3% 64,500 $30.9M
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