Ariose Capital Management Ltd
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 21, 2025), Ariose Capital Management Ltd reported 35 stock positions worth $298.2 million. Its top holding was Nvidia (NVDA) at 16.3% of the portfolio, followed by Joyy Inc.-ADR (JOYY, 7.3%) and Alphabet Class A (GOOGL, 6.8%). Compared with Q2 2025, it opened 26 new positions, sold out of 9, added to 5 and reduced 3. The biggest buy was Nvidia (NVDA, shares +171%) and the biggest sale an exit from Meta Platforms Class A (META).
- Most Recent 13F
- Q2 2026
- Location
- CENTRAL, HONG KONG, K3
- CIK
- 0001665925
- Portfolio Value
- $298.2M (Q3 2025)
- SEC Filing
- 0001665925-25-000005 ↗ filed Oct 21, 2025
Holdings Value
Holdings 35 stocks · $298.2M
| NVDA Nvidia Corp. | 16.30% | 260,500 | $48.6M | Add +171.1% |
| JOYY Joyy Inc.-ADR | 7.28% | 370,437 | $21.7M | Add +375.9% |
| GOOGL Alphabet Inc. Class A | 6.75% | 82,655 | $20.1M | Reduce -38.8% |
| COHR Coherent Corp. | 6.51% | 180,305 | $19.4M | New |
| U Unity Software Inc. | 6.33% | 471,600 | $18.9M | New |
| IBIT iShares Bitcoin Trust ETF | 6.23% | 285,825 | $18.6M | New |
| BABA Alibaba Group Holding-SP ADR | 5.94% | 99,175 | $17.7M | New |
| LITE Lumentum Holdings Inc. | 5.33% | 97,609 | $15.9M | New |
| SHOP Shopify Inc. Class A | 4.35% | 87,200 | $13.0M | New |
| PYPL PayPal Holdings Inc. | 4.34% | 193,100 | $12.9M | Add +347.0% |
| AMZN Amazon.com Inc. | 4.31% | 58,512 | $12.8M | New |
| DQ Daqo New Energy Corp.-ADR | 3.19% | 338,655 | $9.5M | No change |
| IQ Iqiyi Inc.-ADR | 3.13% | 3,649,847 | $9.3M | New |
| NBP Novabridge Biosciences filed as I MAB | 2.16% | 1,704,393 | $6.4M | Add +1667.0% |
| FINV Finvolution Group-ADR | 1.93% | 780,955 | $5.8M | New |
| SLV iShares Silver Trust | 1.92% | 134,900 | $5.7M | Reduce -55.5% |
| HOOD Robinhood Markets Inc. Class A | 1.91% | 39,700 | $5.7M | New |
| VOR Vor Biopharma Inc. | 1.80% | 110,173 | $5.4M | New |
| YALA Yalla Group Ltd. | 1.47% | 582,234 | $4.4M | Add +3.0% |
| MLI Mueller Industries Inc. | 1.31% | 38,612 | $3.9M | New |
| SITM Sitime Corp. | 1.00% | 9,871 | $3.0M | New |
| WRD Weride Inc.-ADR | 0.86% | 259,514 | $2.6M | New |
| BMNR Bitmine Immersion Technologi | 0.78% | 44,927 | $2.3M | New |
| BE Bloom Energy Corp. Class A | 0.70% | 24,850 | $2.1M | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.61% | 113,200 | $1.8M | New |
| UNH Unitedhealth Group Inc. | 0.46% | 4,000 | $1.4M | New |
| ZEPP Zepp Health Corp.-ADR | 0.43% | 27,717 | $1.3M | New |
| TEM Tempus AI Inc. Class A | 0.41% | 15,073 | $1.2M | New |
| HMY Harmony Gold MNG-Spon ADR | 0.40% | 65,103 | $1.2M | New |
| RBLX Roblox Corp. Class A | 0.39% | 8,500 | $1.2M | New |
| APP AppLovin Corp. Class A | 0.36% | 1,500 | $1.1M | New |
| INTC Intel Corp. | 0.36% | 31,900 | $1.1M | Reduce -67.0% |
| OKLO Oklo Inc. | 0.31% | 8,329 | $930K | New |
| QFIN Qfin Holdings Inc.-ADR | 0.30% | 31,574 | $909K | New |
| TTMI TTM Technologies | 0.13% | 6,500 | $374K | New |
Portfolio Sells Q2 2025 → Q3 2025
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −26.59 |
| GOOGL Alphabet Inc. Class A | Reduce -38.8% | 6.75% | −8.39 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −8.26 |
| LI Li Auto Inc. - ADR | Sold out | 0.00% | −6.14 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −4.44 |
| SLV iShares Silver Trust | Reduce -55.5% | 1.92% | −4.37 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −3.69 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −3.27 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −2.17 |
| EUAD Select Stoxx Eur Aer DE ETF | Sold out | 0.00% | −1.76 |
| INTC Intel Corp. | Reduce -67.0% | 0.36% | −1.01 |
| SLB SLB Ltd. | Sold out | 0.00% | −0.96 |
Portfolio Buys Q2 2025 → Q3 2025
| NVDA Nvidia Corp. | Add +171.1% | 16.30% | +6.70 |
| COHR Coherent Corp. | New | 6.51% | +6.51 |
| U Unity Software Inc. | New | 6.33% | +6.33 |
| IBIT iShares Bitcoin Trust ETF | New | 6.23% | +6.23 |
| BABA Alibaba Group Holding-SP ADR | New | 5.94% | +5.94 |
| LITE Lumentum Holdings Inc. | New | 5.33% | +5.33 |
| JOYY Joyy Inc.-ADR | Add +375.9% | 7.28% | +4.78 |
| SHOP Shopify Inc. Class A | New | 4.35% | +4.35 |
| AMZN Amazon.com Inc. | New | 4.31% | +4.31 |
| IQ Iqiyi Inc.-ADR | New | 3.13% | +3.13 |
| PYPL PayPal Holdings Inc. | Add +347.0% | 4.34% | +2.31 |
| NBP Novabridge Biosciences | Add +1667.0% | 2.16% | +2.01 |
| FINV Finvolution Group-ADR | New | 1.93% | +1.93 |
| HOOD Robinhood Markets Inc. Class A | New | 1.91% | +1.91 |
| VOR Vor Biopharma Inc. | New | 1.80% | +1.80 |
| MLI Mueller Industries Inc. | New | 1.31% | +1.31 |
| SITM Sitime Corp. | New | 1.00% | +1.00 |
| WRD Weride Inc.-ADR | New | 0.86% | +0.86 |
| BMNR Bitmine Immersion Technologi | New | 0.78% | +0.78 |
| BE Bloom Energy Corp. Class A | New | 0.70% | +0.70 |
| NU Nu Holdings Ltd./Cayman Isl-A | New | 0.61% | +0.61 |
| UNH Unitedhealth Group Inc. | New | 0.46% | +0.46 |
| ZEPP Zepp Health Corp.-ADR | New | 0.43% | +0.43 |
| TEM Tempus AI Inc. Class A | New | 0.41% | +0.41 |
| HMY Harmony Gold MNG-Spon ADR | New | 0.40% | +0.40 |
| RBLX Roblox Corp. Class A | New | 0.39% | +0.39 |
| APP AppLovin Corp. Class A | New | 0.36% | +0.36 |
| OKLO Oklo Inc. | New | 0.31% | +0.31 |
| QFIN Qfin Holdings Inc.-ADR | New | 0.30% | +0.30 |
| TTMI TTM Technologies | New | 0.13% | +0.13 |
| YALA Yalla Group Ltd. | Add +3.0% | 1.47% | −0.94 |
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 |