AI-Squared Management Ltd In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), AI-Squared Management Ltd reported 15 stock positions worth $76.4 million . Its top holding was Micron Technology (MU) at 17.8% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 12.6% ) and Tal Education Group- ADR (TAL, 12.0% ). Compared with Q4 2024, it opened 7 new positions, sold out of 12, added to 3 and reduced 5. The biggest buy was a new position in Micron Technology (MU) and the biggest sale an exit from PDD (PDD).
Location HONG KONG, K3
CIK 0001933952
Portfolio Value $76.4M (Q1 2025) Holdings 15 stocks · $76.4M 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 2024 MU Micron Technology Inc. 156,408 $13.6M New TSM Taiwan Semiconductor-SP ADR 57,895 $9.6M Add +145.4% TAL Tal Education Group- ADR 694,976 $9.2M Add +11.9% JOYY Joyy Inc.-ADR 187,700 $7.9M Reduce -24.2% WDC Western Digital Corp. 165,653 $6.7M New ATAT Atour Lifestyle Holdings-ADR 198,030 $5.6M Reduce -47.1% BABA Alibaba Group Holding-SP ADR 36,300 $4.8M Reduce -67.5% FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 41,700 $4.3M Reduce -52.4% ORCL Oracle Corp. 26,900 $3.8M New PROSHARES TR II 141,800 $3.3M New NVDA Nvidia Corp. 29,152 $3.2M Reduce -37.0% MNSO Miniso Group Holding Ltd.-ADR 103,945 $1.9M Add +63.4% LITE Lumentum Holdings Inc. 25,100 $1.6M New BZ Kanzhun Ltd. - ADR 27,700 $531K New IQ Iqiyi Inc.-ADR 219,500 $496K New
Options reported separately and not counted above: QQQ puts ($30.9M).
Portfolio Sells Q4 2024 → Q1 2025 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 2024 % Of Portfolio Change To Portfolio ▲ PDD PDD Holdings Inc. Sold out 0.00% −11.40 JD Jd.com Inc.-ADR Sold out 0.00% −9.24 BABA Alibaba Group Holding-SP ADR Reduce -67.5% 6.28% −3.37 YMM Full Truck Alliance -SPN ADR Sold out 0.00% −3.22 IPGP Ipg Photonics Corp. Sold out 0.00% −2.93 ATAT Atour Lifestyle Holdings-ADR Reduce -47.1% 7.35% −2.92 KOLD Proshares Ultrashort Bloombe Sold out 0.00% −2.72 JKS Jinkosolar Holding Co.-ADR Sold out 0.00% −2.38 NBIS Nebius Group NV Sold out 0.00% −2.34 OLED Universal Display Corp. Sold out 0.00% −2.31 NVDA Nvidia Corp. Reduce -37.0% 4.14% −2.20 XPEV Xpeng Inc. - ADR Sold out 0.00% −2.17 VSH Vishay Intertechnology Inc. Sold out 0.00% −1.61 FUTU Futu Holdings Ltd.-ADR Reduce -52.4% 5.59% −1.56 DQ Daqo New Energy Corp.-ADR Sold out 0.00% −1.53 NIO Nio Inc. - ADR Sold out 0.00% −1.52 JOYY Joyy Inc.-ADR Reduce -24.2% 10.31% −0.25
Portfolio Buys Q4 2024 → Q1 2025 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 2024 % Of Portfolio Change To Portfolio ▼ MU Micron Technology Inc. New 17.79% +17.79 WDC Western Digital Corp. New 8.77% +8.77 TSM Taiwan Semiconductor-SP ADR Add +145.4% 12.58% +7.83 TAL Tal Education Group- ADR Add +11.9% 12.02% +5.67 ORCL Oracle Corp. New 4.92% +4.92 PROSHARES TR II New 4.35% +4.35 LITE Lumentum Holdings Inc. New 2.05% +2.05 MNSO Miniso Group Holding Ltd.-ADR Add +63.4% 2.52% +0.97 BZ Kanzhun Ltd. - ADR New 0.70% +0.70 IQ Iqiyi Inc.-ADR New 0.65% +0.65
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ QQQ Invesco QQQ Trust Series 1 put New 65,800 $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