APEIRON CAPITAL Ltd
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 23, 2025), APEIRON CAPITAL Ltd reported 11 stock positions worth $217.6 million. Its top holding was Granitesh 2X LNG Nvda ETF (NVDL) at 32.7% of the portfolio, followed by On Class A (ONON, 20.2%) and Nvidia (NVDA, 10.9%). Compared with Q4 2024, it opened 4 new positions, sold out of 6, added to 3 and reduced 4. The biggest buy was a new position in Qfin Holdings Inc.-ADR (QFIN) and the biggest sale Tesla (TSLA, shares −25%).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001843111
- Portfolio Value
- $217.6M (Q1 2025)
- SEC Filing
- 0001843111-25-000005 ↗ filed Apr 23, 2025
Holdings Value
Holdings 11 stocks · $217.6M
| NVDL Granitesh 2X LNG Nvda ETF | 32.66% | 1,900,000 | $71.1M | Add +30.0% |
| ONON On Holding AG Class A filed as ON HLDG AG | 20.17% | 999,125 | $43.9M | Add +35.9% |
| NVDA Nvidia Corp. | 10.92% | 219,300 | $23.8M | Reduce -22.8% |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 8.74% | 423,425 | $19.0M | New |
| TSLA Tesla Inc. | 8.64% | 72,520 | $18.8M | Reduce -24.8% |
| AMZN Amazon.com Inc. | 7.15% | 81,800 | $15.6M | Add +103.0% |
| NTES Netease Inc.-ADR | 4.63% | 97,821 | $10.1M | Reduce -24.4% |
| FLG Flagstar Bank NA | 4.38% | 820,000 | $9.5M | New |
| GOOGL Alphabet Inc. Class A | 2.18% | 30,674 | $4.7M | Reduce -13.6% |
| CAVA Cava Group Inc. | 0.36% | 9,100 | $786K | New |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 0.18% | 15,100 | $382K | New |
Portfolio Sells Q4 2024 → Q1 2025
| TSLA Tesla Inc. | Reduce -24.8% | 8.64% | −5.88 |
| NVDA Nvidia Corp. | Reduce -22.8% | 10.92% | −3.30 |
| PDD PDD Holdings Inc. | Sold out | 0.00% | −3.22 |
| IBIT iShares Bitcoin Trust ETF | Sold out | 0.00% | −3.15 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −2.50 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.55 |
| MRNA Moderna Inc. | Sold out | 0.00% | −0.42 |
| GOOGL Alphabet Inc. Class A | Reduce -13.6% | 2.18% | −0.32 |
| TMDX Transmedics Group Inc. | Sold out | 0.00% | −0.17 |
| NTES Netease Inc.-ADR | Reduce -24.4% | 4.63% | +0.33 |
Portfolio Buys Q4 2024 → Q1 2025
| QFIN Qfin Holdings Inc.-ADR | New | 8.74% | +8.74 |
| ONON On Holding AG Class A | Add +35.9% | 20.17% | +5.16 |
| FLG Flagstar Bank NA | New | 4.38% | +4.38 |
| AMZN Amazon.com Inc. | Add +103.0% | 7.15% | +3.86 |
| CAVA Cava Group Inc. | New | 0.36% | +0.36 |
| GDS GDS Holdings Ltd. - ADR | New | 0.18% | +0.18 |
| NVDL Granitesh 2X LNG Nvda ETF | Add +30.0% | 32.66% | −3.49 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 14 | $155.7M | MUU, ONON, ABVX, QFIN, SMMT |
| Q1 2026 | 12 | $106.9M | ONON, SMMT, QFIN, MU, U |
| Q4 2025 | 5 | $86.5M | ONON, SMMT, QFIN, KWEB, VRT |
| Q3 2025 | 8 | $210.4M | NVDL, ONON, SMMT, SBET, QFIN |
| Q2 2025 | 5 | $105.9M | ONON, QFIN, SMMT, NVDA, IBIT |
| Q1 2025 | 11 | $217.6M | NVDL, ONON, NVDA, QFIN, TSLA |
| Q4 2024 | 13 | $268.3M | NVDL, ONON, TSLA, NVDA, NTES |
| Q3 2024 | 10 | $280.3M | NVDL, ONON, NVDA, PDD, TSLA |
| Q2 2024 | 11 | $286.6M | NVDL, ONON, PDD, STAA, MSFT |
| Q1 2024Amended | 12 | $197.9M | COIN, ONON, STAA, CONL, NTES |