In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Athos Capital Ltd reported 23 stock positions worth $209.9 million . Its top holding was Endeavor Group Hold Class A (EDR) at 76.6% of the portfolio, followed by Kellanova (K, 3.5% ) and iShares Bitcoin Trust ETF (IBIT, 3.3% ). Compared with Q3 2024, it opened 6 new positions, sold out of 7, added to 1 and reduced 8. The biggest buy was a new position in Smartsheet Class A (SMAR) and the biggest sale an exit from Albertsons Cos Class A (ACI).
Location HONG KONG, K3
CIK 0001681662
Portfolio Value $209.9M (Q4 2024) Holdings 23 stocks · $209.9M 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 Q3 2024 EDR Endeavor Group Hold Class A 5,138,400 $160.8M Reduce -33.4% K Kellanova 90,500 $7.3M No change IBIT iShares Bitcoin Trust ETF 131,000 $7.0M Reduce -47.0% LBRDK Liberty Broadband-C 57,900 $4.3M Reduce -3.5% SMAR Smartsheet Inc. Class A 66,400 $3.7M New ANSS Ansys Inc. 10,500 $3.5M Reduce -51.8% PKX Posco Holdings Inc. -Spon ADR 60,000 $2.6M Reduce -63.1% BSIIU Black Spade Acquisition II C 250,000 $2.5M No change FACTU Fact II Acquisition Corp. 250,000 $2.5M New DYNCU Dynamix Corp. 250,000 $2.5M New ESGR Enstar Group Ltd. 7,400 $2.4M Reduce -3.9% JOYY Joyy Inc.-ADR 54,900 $2.3M No change JNPR Juniper Networks Inc. 48,999 $1.8M Add +157.9% EVRI Everi Holdings Inc. 100,000 $1.4M New AGS Playags Inc. 106,100 $1.2M Reduce -3.5% BEAGU Bold Eagle Acquisition Corp. 100,000 $1.0M New CHEB.U Chenghe Acquisition II Co. 75,000 $758K No change PARAA Paramount Global Class B 66,300 $693K Reduce -39.8% OACCU Oaktree Acquisition III Life 50,000 $507K New HUYA Huya Inc.-ADR 127,346 $391K No change CCIXU Churchill Capital Corp. Ix 25,000 $266K No change LEGT.U Legato Merger Corp. III 25,000 $261K No change DOYU Douyu International Hold-ADR 19,925 $223K No change
Options reported separately and not counted above: X calls ($5.1M), IPG calls ($2.8M).
Other holdings (14): bonds, preferreds, convertibles and warrants · $3.3M (not counted above) Security Class Shares / Principal Value Change REEWF Cartesian Growth Corp. II -28 *W EXP 07/12/202 114,289 $1.3M No change MRNOW Murano Global BV-28 *W EXP 03/19/202 42,840 $513K No change LANWF Lanvin Group Holdings Ltd.-27 *W EXP 01/14/202 157,703 $317K No change BBAI.WS Bigbear.ai Holdings -CW28 *W EXP 12/08/202 57,178 $249K No change ASBPW Aspire Biopharma Holdin-CW27 *W EXP 05/23/202 21,383 $246K No change ECXWW Ecarx Holdings Inc. Class A-27 *W EXP 99/99/999 92,368 $195K No change BAERW Wildfire New Pubco Inc.-27 *W EXP 01/24/202 66,062 $141K No change SDSTW Global Partner Acq A -CW27 *W EXP 06/21/202 11,378 $51K No change AILWQ Arrowroot Acquisition -CW26 *W EXP 04/16/202 120,076 $50K No change SPWRW Sunpower Inc.-CW27 *W EXP 07/31/202 28,420 $49K No change COCHW Envoy Medical Inc.-CW27 *W EXP 09/29/202 28,588 $45K No change LAKESHORE BIOPHARMA CO LTD *W EXP 03/15/202 128,981 $45K No change CPTWF Captivision Inc.-28 *W EXP 11/15/202 32,075 $21K No change PIIIW P3 Health Partne -CW27 *W EXP 11/19/202 37,052 $8K No change
Total filed on the 13F, all lines: $213.2M.
Portfolio Sells Q3 2024 → Q4 2024 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 Q3 2024 % Of Portfolio Change To Portfolio ▲ ACI Albertsons Cos Inc. Class A Sold out 0.00% −2.67 PKX Posco Holdings Inc. -Spon ADR Reduce -63.1% 1.24% −2.46 VSTO Vista Outdoor Inc. Sold out 0.00% −2.11 CTLT Catalent Inc. Sold out 0.00% −1.95 AY Atlantica Sustainable Infras Sold out 0.00% −1.57 AGR Avangrid Inc. Sold out 0.00% −1.28 ENV Envestnet Inc. Sold out 0.00% −1.02 SQSP Squarespace Inc. Class A Sold out 0.00% −1.00 ANSS Ansys Inc. Reduce -51.8% 1.69% −0.57 PARAA Paramount Global Class B Reduce -39.8% 0.33% −0.05 AGS Playags Inc. Reduce -3.5% 0.58% +0.18 ESGR Enstar Group Ltd. Reduce -3.9% 1.14% +0.33 IBIT iShares Bitcoin Trust ETF Reduce -47.0% 3.31% +0.41 LBRDK Liberty Broadband-C Reduce -3.5% 2.06% +0.55 EDR Endeavor Group Hold Class A Reduce -33.4% 76.58% +4.92
Portfolio Buys Q3 2024 → Q4 2024 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 Q3 2024 % Of Portfolio Change To Portfolio ▼ SMAR Smartsheet Inc. Class A New 1.77% +1.77 FACTU Fact II Acquisition Corp. New 1.19% +1.19 DYNCU Dynamix Corp. New 1.18% +1.18 EVRI Everi Holdings Inc. New 0.64% +0.64 JNPR Juniper Networks Inc. Add +157.9% 0.87% +0.63 BEAGU Bold Eagle Acquisition Corp. New 0.48% +0.48 OACCU Oaktree Acquisition III Life New 0.24% +0.24
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ X United States Steel Corp. call New 150,000 $5.1M IPG Interpublic Group of Cos Inc. call New 100,000 $2.8M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024 Security Class Change vs Q3 2024 Shares / Principal Value ▼ JWSWF Jaws Mustang Acq C -CW26 *W EXP 01/30/202 Sold out 17,307 $220Kbefore exit ZOOZW Zooz Strategy Ltd.-29 *W EXP 04/02/202 Sold out 17,135 $34Kbefore exit
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 29 $277.8M WBD, MOMO, BEKE, NSC, JHG Q1 2026 32 $323.7M WBD, MOMO, BEKE, KVUE, VIPS Q4 2025 26 $248.1M KVUE, MOMO, BEKE, RNAM, HOLX Q3 2025 23 $153.9M BEKE, KVUE, GTLS, LBRDK, TXNM Q2 2025 23 $64.5M SKX, K, CHA, GB, ANSS Q1 2025 30 $78.8M K, ITCI, DFS, DESP, JNPR Q4 2024 23 $209.9M EDR, K, IBIT, LBRDK, SMAR Q3 2024 24 $307.6M EDR, PKX, IBIT, ACI, K Q2 2024 24 $168.6M EDR, HOLI, ACI, IBIT, VSTO Q1 2024 21 $76.1M HOLI, ACI, X, BILI, JNPR