CoreView Capital Management Ltd

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), CoreView Capital Management Ltd reported 10 stock positions worth $1.0 billion. Its top holding was Jd.com Inc.-ADR (JD) at 26.0% of the portfolio, followed by Trip.com Group Ltd.-ADR (TCOM, 23.8%) and Sea Ltd.-ADR (SE, 22.8%). Compared with Q4 2024, it opened 3 new positions, sold out of 1, added to 2 and reduced 4. The biggest buy was Kanzhun Ltd. - ADR (BZ, shares +135%) and the biggest sale an exit from Baidu Inc. - Spon ADR (BIDU).

Most Recent 13F
Q2 2026
Location
HONG KONG, K3
CIK
0001842785
Portfolio Value
$1.0B (Q1 2025)
SEC Filing
0001842785-25-000007 ↗ filed May 15, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $712.9M Q1 2024 Q2 2024: $634.5M Q2 2024 Q3 2024: $831.8M Q3 2024 Q4 2024: $957.3M Q4 2024 Q1 2025: $1.0B $1.0B Q1 2025 Q2 2025: $764.0M Q2 2025 Q3 2025: $907.0M Q3 2025 Q4 2025: $793.1M Q4 2025 Q1 2026: $472.8M Q1 2026 Q2 2026: $547.1M Q2 2026

Holdings 10 stocks · $1.0B
JD Jd.com Inc.-ADR 25.98% 6,335,911 $260.5M Reduce -1.0%
TCOM Trip.com Group Ltd.-ADR 23.78% 3,751,377 $238.5M Reduce -1.5%
SE Sea Ltd.-ADR 22.77% 1,750,393 $228.4M Reduce -20.1%
BZ Kanzhun Ltd. - ADR 13.72% 7,180,180 $137.6M Add +135.0%
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 7.36% 3,675,705 $73.8M Reduce -3.7%
TAL Tal Education Group- ADR 2.64% 2,007,165 $26.5M Add +26.3%
KWEB Kranesh Csi China Internet 1.59% 455,588 $15.9M New
LI Li Auto Inc. - ADR 1.32% 525,908 $13.3M New
MOMO Hello Group Inc. -SPN ADR 0.55% 875,154 $5.5M No change
PDD PDD Holdings Inc. 0.28% 23,355 $2.8M New
Other holdings (1): bonds, preferreds, convertibles and warrants · $2.5M (not counted above)
SecurityClassShares / PrincipalValueChange
PDD HOLDINGS INC (PDD 0 12/01/25) NOTE 12/0 · principal 2,500,000$2.5MNo change

Total filed on the 13F, all lines: $1.0B.

Portfolio Sells Q4 2024 → Q1 2025
BIDU Baidu Inc. - Spon ADR Sold out 0.00% −11.11
TCOM Trip.com Group Ltd.-ADR Reduce -1.5% 23.78% −3.52
SE Sea Ltd.-ADR Reduce -20.1% 22.77% −1.51
BEKE Ke Holdings Inc.-ADR Reduce -3.7% 7.36% +0.02
JD Jd.com Inc.-ADR Reduce -1.0% 25.98% +2.80

Portfolio Buys Q4 2024 → Q1 2025
BZ Kanzhun Ltd. - ADR Add +135.0% 13.72% +9.32
KWEB Kranesh Csi China Internet New 1.59% +1.59
LI Li Auto Inc. - ADR New 1.32% +1.32
TAL Tal Education Group- ADR Add +26.3% 2.64% +0.98
PDD PDD Holdings Inc. New 0.28% +0.28

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 8$547.1MBZ, JD, TAL, BIDU, BEKE
Q1 2026 5$472.8MJD, BZ, TAL, BEKE, MOMO
Q4 2025 7$793.1MBZ, JD, TCOM, TAL, SE
Q3 2025 7$907.0MBZ, JD, TCOM, SE, TAL
Q2 2025 7$764.0MJD, BZ, SE, TCOM, TAL
Q1 2025 10$1.0BJD, TCOM, SE, BZ, BEKE
Q4 2024 8$957.3MTCOM, SE, JD, BIDU, BEKE
Q3 2024 7$831.8MTCOM, SE, BIDU, BEKE, JD
Q2 2024 8$634.5MPDD, TCOM, BIDU, BEKE, SE
Q1 2024 8$712.9MPDD, TCOM, BEKE, BIDU, JD