Athos Capital Ltd

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 13, 2026), Athos Capital Ltd reported 29 stock positions worth $277.8 million. Its top holding was Warner Bros Discovery (WBD) at 16.8% of the portfolio, followed by Hello Group Inc. -SPN ADR (MOMO, 15.5%) and Ke Holdings Inc.-ADR (BEKE, 11.5%). Compared with Q1 2026, it opened 6 new positions, sold out of 9, added to 3 and reduced 5. The biggest buy was Norfolk Southern (NSC, shares +235%) and the biggest sale an exit from Vipshop Holdings Ltd. - ADR (VIPS).

Most Recent 13F
Q2 2026
Location
HONG KONG, K3
CIK
0001681662
Portfolio Value
$277.8M (Q2 2026)
SEC Filing
0001681662-26-000005 ↗ filed Aug 13, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $76.1M Q1 2024 Q2 2024: $168.6M Q2 2024 Q3 2024: $307.6M Q3 2024 Q4 2024: $209.9M Q4 2024 Q1 2025: $78.8M Q1 2025 Q2 2025: $64.5M Q2 2025 Q3 2025: $153.9M Q3 2025 Q4 2025: $248.1M Q4 2025 Q1 2026: $323.7M Q1 2026 Q2 2026: $277.8M $277.8M Q2 2026

Holdings 29 stocks · $277.8M
WBD Warner Bros Discovery Inc. 16.78% 1,748,075 $46.6M Add +0.2%
MOMO Hello Group Inc. -SPN ADR 15.55% 7,447,401 $43.2M Reduce -0.5%
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 11.47% 2,192,308 $31.9M Reduce -2.5%
NSC Norfolk Southern Corp. 8.55% 75,520 $23.8M Add +235.3%
JHG Janus Henderson Group PLC 5.83% 311,583 $16.2M No change
WBS Webster Financial Corp. 5.50% 200,000 $15.3M Add +33.3%
KVUE Kenvue Inc. 4.70% 682,724 $13.0M Reduce -60.9%
QRVO Qorvo Inc. 4.03% 120,000 $11.2M New
CZR Caesars Entertainment Inc. 3.88% 357,178 $10.8M New
TXNM TXNM Energy Inc. 3.22% 157,592 $8.9M Reduce -1.6%
CHA Chagee Holdings Ltd.-ADR 2.75% 634,615 $7.6M No change
TECH Bio-Techne Corp. 2.54% 100,000 $7.1M New
BHF Brighthouse Financial Inc. 2.28% 100,000 $6.3M Reduce -23.1%
LBRDK Liberty Broadband-C 2.27% 189,722 $6.3M No change
MMYT Makemytrip Ltd. 1.77% 92,320 $4.9M No change
CPRX Catalyst Pharmaceuticals Inc. 1.70% 150,000 $4.7M New
JOYY Joyy Inc.-ADR 1.61% 67,933 $4.5M No change
PEN Penumbra Inc. 1.27% 11,160 $3.5M No change
FACTU Fact II Acquisition Corp. 0.97% 250,000 $2.7M No change
AVNS Avanos Medical Inc. 0.90% 100,000 $2.5M New
RNA Atrium Therapeutics Inc. 0.52% 107,965 $1.5M No change
SLAB Silicon Laboratories Inc. 0.49% 6,204 $1.4M No change
DYNCU Dynamix Corp. 0.49% 125,000 $1.4M No change
BEAGU Bold Eagle Acquisition Corp. 0.40% 100,000 $1.1M No change
OACCU Oaktree Acquisition III Life 0.20% 50,000 $550K No change
HUYA Huya Inc.-ADR 0.13% 152,990 $352K No change
CCIXU Churchill Capital Corp. Ix 0.10% 25,000 $275K No change
ENRD Einride AB - ADR 0.08% 25,000 $216K New
DOYU Douyu International Hold-ADR 0.04% 23,863 $111K No change

Options reported separately and not counted above: ROKU calls ($3.5M).

Other holdings (8): bonds, preferreds, convertibles and warrants · $510K (not counted above)
SecurityClassShares / PrincipalValueChange
BAERW Wildfire New Pubco Inc.-27 *W EXP 01/24/202 66,062$127KNo change
ECXWW Ecarx Holdings Inc. Class A-27 *W EXP 99/99/999 92,368$119KNo change
ENRDW Einride AB-31 *W EXP 06/08/203 12,499$108KNew
TGE.WS Generation Essentials - 30 *W EXP 02/15/202 83,331$85KNo change
COCHW Envoy Medical Inc.-CW27 *W EXP 09/29/202 28,588$23KNo change
SPWRW Sunpower Inc.-CW27 *W EXP 07/31/202 28,420$20KNo change
SDSTW Global Partner Acq A -CW27 *W EXP 06/21/202 11,378$18KNo change
MRNOW Murano Global BV-28 *W EXP 03/19/202 42,840$10KNo change

Total filed on the 13F, all lines: $278.3M.

Portfolio Sells Q1 2026 → Q2 2026
VIPS Vipshop Holdings Ltd. - ADR Sold out 0.00% −7.18
KVUE Kenvue Inc. Reduce -60.9% 4.70% −4.60
HOLX Hologic Inc. Sold out 0.00% −4.60
GTLS Chart Industries Inc. Sold out 0.00% −4.17
FOLD Amicus Therapeutics Inc. Sold out 0.00% −3.11
EA Electronic Arts Inc. Sold out 0.00% −2.66
ACLX Arcellx Inc. Sold out 0.00% −2.30
RVMD Revolution Medicines Inc. Sold out 0.00% −1.11
RNW Renew Energy Global PLC-A Sold out 0.00% −0.47
BHF Brighthouse Financial Inc. Reduce -23.1% 2.28% −0.13
LEGT.U Legato Merger Corp. III Sold out 0.00% −0.09
TXNM TXNM Energy Inc. Reduce -1.6% 3.22% +0.33
BEKE Ke Holdings Inc.-ADR Reduce -2.5% 11.47% +1.07
MOMO Hello Group Inc. -SPN ADR Reduce -0.5% 15.55% +2.23

Portfolio Buys Q1 2026 → Q2 2026
NSC Norfolk Southern Corp. Add +235.3% 8.55% +6.56
QRVO Qorvo Inc. New 4.03% +4.03
CZR Caesars Entertainment Inc. New 3.88% +3.88
TECH Bio-Techne Corp. New 2.54% +2.54
WBS Webster Financial Corp. Add +33.3% 5.50% +2.28
WBD Warner Bros Discovery Inc. Add +0.2% 16.78% +1.98
CPRX Catalyst Pharmaceuticals Inc. New 1.70% +1.70
AVNS Avanos Medical Inc. New 0.90% +0.90
ENRD Einride AB - ADR New 0.08% +0.08

Options Activity Q1 2026 → Q2 2026
ROKU Roku Inc. call New 25,400 $3.5M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2026 → Q2 2026
LANWF Lanvin Group Holdings Ltd.-27 *W EXP 01/14/202 Sold out 157,703 $238Kbefore exit
ENRDW Einride AB-31 *W EXP 06/08/203 New 12,499 $108K
CPTWF Captivision Inc.-28 *W EXP 11/15/202 Sold out 32,075 $13Kbefore exit
ZOOZW Zooz Strategy Ltd.-29 *W EXP 04/02/202 Sold out 17,135 $5Kbefore exit
PIIIW P3 Health Partne -CW27 *W EXP 11/19/202 Sold out 37,052 $2Kbefore exit
ASBPW Aspire Biopharma Holdin-CW27 *W EXP 02/14/203 Sold out 21,383 $1Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 29$277.8MWBD, MOMO, BEKE, NSC, JHG
Q1 2026 32$323.7MWBD, MOMO, BEKE, KVUE, VIPS
Q4 2025 26$248.1MKVUE, MOMO, BEKE, RNAM, HOLX
Q3 2025 23$153.9MBEKE, KVUE, GTLS, LBRDK, TXNM
Q2 2025 23$64.5MSKX, K, CHA, GB, ANSS
Q1 2025 30$78.8MK, ITCI, DFS, DESP, JNPR
Q4 2024 23$209.9MEDR, K, IBIT, LBRDK, SMAR
Q3 2024 24$307.6MEDR, PKX, IBIT, ACI, K
Q2 2024 24$168.6MEDR, HOLI, ACI, IBIT, VSTO
Q1 2024 21$76.1MHOLI, ACI, X, BILI, JNPR