Ariose Capital Management Ltd
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 30, 2025), Ariose Capital Management Ltd reported 12 stock positions worth $91.2 million. Its top holding was Trip.com Group Ltd.-ADR (TCOM) at 19.1% of the portfolio, followed by SPDR Gold Shares (GLD, 16.4%) and Lockheed Martin (LMT, 13.1%). Compared with Q4 2024, it opened 10 new positions, sold out of 11 and reduced 1. The biggest buy was a new position in Trip.com Group Ltd.-ADR (TCOM) and the biggest sale an exit from Netflix (NFLX).
- Most Recent 13F
- Q2 2026
- Location
- CENTRAL, HONG KONG, K3
- CIK
- 0001665925
- Portfolio Value
- $91.2M (Q1 2025)
- SEC Filing
- 0001085146-25-002453 ↗ filed Apr 30, 2025
Holdings Value
Holdings 12 stocks · $91.2M
| TCOM Trip.com Group Ltd.-ADR | 19.14% | 274,600 | $17.5M | New |
| GLD SPDR Gold Shares | 16.36% | 51,800 | $14.9M | New |
| LMT Lockheed Martin Corp. | 13.08% | 26,700 | $11.9M | New |
| GOOGL Alphabet Inc. Class A | 12.10% | 71,400 | $11.0M | New |
| NTES Netease Inc.-ADR | 11.66% | 103,300 | $10.6M | New |
| DQ Daqo New Energy Corp.-ADR | 10.56% | 531,909 | $9.6M | Reduce -64.7% |
| LI Li Auto Inc. - ADR | 5.91% | 214,100 | $5.4M | New |
| CYD China Yuchai Intl Ltd. | 3.71% | 199,088 | $3.4M | New |
| EUAD Select Stoxx Eur Aer DE ETF | 2.38% | 64,662 | $2.2M | New |
| PDD PDD Holdings Inc. | 2.08% | 16,000 | $1.9M | New |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 2.06% | 45,000 | $1.9M | No change |
| TPR Tapestry Inc. | 0.97% | 12,505 | $880K | New |
Portfolio Sells Q4 2024 → Q1 2025
| NFLX Netflix Inc. | Sold out | 0.00% | −22.87 |
| TSLA Tesla Inc. | Sold out | 0.00% | −22.77 |
| DQ Daqo New Energy Corp.-ADR | Reduce -64.7% | 10.56% | −13.67 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −10.31 |
| EDU New Oriental Educatio-SP ADR | Sold out | 0.00% | −4.93 |
| IBIT iShares Bitcoin Trust ETF | Sold out | 0.00% | −3.88 |
| MAR Marriott International Class A | Sold out | 0.00% | −2.96 |
| U Unity Software Inc. | Sold out | 0.00% | −1.90 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −1.67 |
| RKLB Rocket Lab USA Inc. | Sold out | 0.00% | −1.55 |
| NVDA Nvidia Corp. | Sold out | 0.00% | −0.78 |
| URA Global X Uranium ETF | Sold out | 0.00% | −0.72 |
Portfolio Buys Q4 2024 → Q1 2025
| TCOM Trip.com Group Ltd.-ADR | New | 19.14% | +19.14 |
| GLD SPDR Gold Shares | New | 16.36% | +16.36 |
| LMT Lockheed Martin Corp. | New | 13.08% | +13.08 |
| GOOGL Alphabet Inc. Class A | New | 12.10% | +12.10 |
| NTES Netease Inc.-ADR | New | 11.66% | +11.66 |
| LI Li Auto Inc. - ADR | New | 5.91% | +5.91 |
| CYD China Yuchai Intl Ltd. | New | 3.71% | +3.71 |
| EUAD Select Stoxx Eur Aer DE ETF | New | 2.38% | +2.38 |
| PDD PDD Holdings Inc. | New | 2.08% | +2.08 |
| TPR Tapestry Inc. | New | 0.97% | +0.97 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 19 | $234.1M | SNDK, STX, AMD, MRVL, SOXX |
| Q1 2026 | 15 | $148.9M | AXTI, STX, GLW, VICR, DQ |
| Q4 2025 | 14 | $298.5M | GOOGL, NVDA, U, TER, JOYY |
| Q3 2025 | 35 | $298.2M | NVDA, JOYY, GOOGL, COHR, U |
| Q2 2025 | 18 | $158.2M | META, GOOGL, NVDA, MELI, SLV |
| Q1 2025 | 12 | $91.2M | TCOM, GLD, LMT, GOOGL, NTES |
| Q4 2024 | 13 | $120.8M | DQ, NFLX, TSLA, AVGO, EDU |
| Q3 2024 | 9 | $116.8M | NFLX, DQ, NVDA, LI, TME |
| Q2 2024 | 13 | $131.0M | NTES, TCOM, NFLX, DQ, EDU |
| Q1 2024 | 12 | $189.9M | NVDA, NTES, DQ, VIPS, NFLX |