Fosun International Ltd

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Fosun International Ltd reported 51 stock positions worth $394.7 million. Its top holding was Lanvin (LANV) at 46.0% of the portfolio, followed by Chagee Holdings Ltd.-ADR (CHA, 21.9%) and Butterfly Network (BFLY, 10.3%). Compared with Q3 2025, it opened 10 new positions, sold out of 5, added to 4 and reduced 7. The biggest buy was Chagee Holdings Ltd.-ADR (CHA, shares +19295%) and the biggest sale Microsoft (MSFT, shares −28%).

Most Recent 13F
Q2 2026
Location
HONG KONG, F4
CIK
0001447884
Portfolio Value
$394.7M (Q4 2025)
SEC Filing
0001104659-26-012928 ↗ filed Feb 11, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $321.0M Q1 2024 Q2 2024: $296.3M Q2 2024 Q3 2024: $303.7M Q3 2024 Q4 2024: $319.6M Q4 2024 Q1 2025: $351.2M Q1 2025 Q2 2025: $351.6M Q2 2025 Q3 2025: $267.4M Q3 2025 Q4 2025: $394.7M $394.7M Q4 2025 Q1 2026: $365.3M Q1 2026 Q2 2026: $412.9M Q2 2026

Holdings 51 stocks · $394.7M
LANV Lanvin Group Holdings Ltd. 46.00% 90,334,215 $181.6M No change
CHA Chagee Holdings Ltd.-ADR 21.94% 7,447,088 $86.6M Add +19295.0%
BFLY Butterfly Network Inc. 10.32% 10,716,630 $40.7M No change
ASHR Xtrackers Harvest Csi 300 CH 4.33% 520,270 $17.1M No change
SPYM Ste STR SPDR PT S&P 500 ETF 3.44% 169,500 $13.6M New
MCHI iShares MSCI China ETF 2.65% 174,000 $10.5M New
GOOGL Alphabet Inc. Class A 1.08% 13,600 $4.3M Reduce -12.5%
MSDL Morgan Stanley Direct Lendin 0.93% 221,872 $3.7M New
HSAI Hesai Group 0.83% 146,423 $3.3M Add +31.2%
NVDA Nvidia Corp. 0.77% 16,235 $3.0M Add +25.5%
JG Aurora Mobile Ltd.-ADR 0.64% 405,199 $2.5M No change
UNH Unitedhealth Group Inc. 0.56% 6,711 $2.2M Reduce -5.9%
MSFT Microsoft Corp. 0.48% 3,950 $1.9M Reduce -27.5%
DEXCOM INC (DXCM 0.375 05/15/28) 0.47% 2,000,000 $1.8M New
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) 0.46% 2,000,000 $1.8M No change
HYPR Hyperfine Inc. 0.43% 1,742,020 $1.7M No change
ADBE Adobe Inc. 0.41% 4,661 $1.6M No change
PDD PDD Holdings Inc. 0.32% 11,038 $1.3M New
AMZN Amazon.com Inc. 0.22% 3,679 $849K No change
WM Waste Management Inc. 0.21% 3,749 $824K Add +56.1%
QSI Quantum-Si Inc. 0.21% 743,935 $818K No change
SNPS Synopsys Inc. 0.16% 1,380 $648K Reduce -31.2%
IXJ iShares Global Healthcare Et 0.16% 6,461 $630K New
MRVL Marvell Technology Inc. 0.16% 7,299 $620K Reduce -4.7%
LOW Lowe's Cos Inc. 0.16% 2,566 $619K No change
CB Chubb Ltd. 0.15% 1,954 $610K No change
AON Aon PLC Class A 0.15% 1,677 $592K No change
TSEM Tower Semiconductor Ltd. 0.15% 5,000 $587K New
V Visa Inc. Class A 0.14% 1,550 $544K Reduce -44.5%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.14% 2,075 $537K No change
AVGO Broadcom Inc. 0.13% 1,523 $527K No change
SPGI S&P Global Inc. 0.13% 985 $515K No change
BDX Becton Dickinson and Co. 0.12% 2,520 $489K No change
TMO Thermo Fisher Scientific Inc. 0.12% 826 $479K Reduce -52.1%
BABA Alibaba Group Holding-SP ADR 0.12% 3,230 $473K No change
ABBV Abbvie Inc. 0.12% 2,027 $463K No change
SYY Sysco Corp. 0.12% 6,224 $459K No change
WFC Wells Fargo & Co. 0.11% 4,698 $438K New
LIN Linde PLC 0.09% 860 $367K No change
OXY Occidental Petroleum Corp. 0.09% 8,797 $362K No change
ADI Analog Devices Inc. 0.09% 1,333 $362K No change
TTMI TTM Technologies 0.09% 5,000 $345K New
CRM Salesforce Inc. 0.09% 1,302 $345K No change
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.07% 4,347 $293K No change
DHR Danaher Corp. 0.07% 1,200 $275K No change
TMUS T-Mobile US Inc. 0.07% 1,343 $273K No change
TSM Taiwan Semiconductor-SP ADR 0.07% 855 $260K No change
MU Micron Technology Inc. 0.07% 900 $257K New
TECK Teck Resources Ltd.-CLS B 0.06% 5,066 $243K No change
NEE Nextera Energy Inc. 0.06% 2,749 $221K No change
KO The Coca-Cola Co. 0.05% 3,016 $211K No change
Other holdings (3): bonds, preferreds, convertibles and warrants · $34.8M (not counted above)
SecurityClassShares / PrincipalValueChange
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D 33,500,000$17.4MNew
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) 6.75 SE B PFD 28,120,000$14.2MNew
NEXTERA ENERGY INC (NEE 7.234 11/01/27) UNIT 11/01/2027 6,700,000$3.3MNew

Total filed on the 13F, all lines: $429.5M.

Portfolio Sells Q3 2025 → Q4 2025
MSFT Microsoft Corp. Reduce -27.5% 0.48% −0.57
UNH Unitedhealth Group Inc. Reduce -5.9% 0.56% −0.36
GOOGL Alphabet Inc. Class A Reduce -12.5% 1.08% −0.33
NATR Natures Sunshine Prods Inc. Sold out 0.00% −0.28
AAPL Apple Inc. Sold out 0.00% −0.24
V Visa Inc. Class A Reduce -44.5% 0.14% −0.22
SNPS Synopsys Inc. Reduce -31.2% 0.16% −0.21
AS Amer Sports Inc. Sold out 0.00% −0.20
META Meta Platforms Inc. Class A Sold out 0.00% −0.19
TMO Thermo Fisher Scientific Inc. Reduce -52.1% 0.12% −0.19
DE Deere & Co. Sold out 0.00% −0.09
MRVL Marvell Technology Inc. Reduce -4.7% 0.16% −0.08

Portfolio Buys Q3 2025 → Q4 2025
CHA Chagee Holdings Ltd.-ADR Add +19295.0% 21.94% +21.71
SPYM Ste STR SPDR PT S&P 500 ETF New 3.44% +3.44
MCHI iShares MSCI China ETF New 2.65% +2.65
MSDL Morgan Stanley Direct Lendin New 0.93% +0.93
DEXCOM INC (DXCM 0.375 05/15/28) New 0.47% +0.47
PDD PDD Holdings Inc. New 0.32% +0.32
IXJ iShares Global Healthcare Et New 0.16% +0.16
TSEM Tower Semiconductor Ltd. New 0.15% +0.15
WFC Wells Fargo & Co. New 0.11% +0.11
TTMI TTM Technologies New 0.09% +0.09
MU Micron Technology Inc. New 0.07% +0.07
WM Waste Management Inc. Add +56.1% 0.21% +0.01
NVDA Nvidia Corp. Add +25.5% 0.77% −0.14
HSAI Hesai Group Add +31.2% 0.83% −0.34

Notes & Other Activity Q3 2025 → Q4 2025
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D New 33,500,000 $17.4M
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) 6.75 SE B PFD New 28,120,000 $14.2M
NEXTERA ENERGY INC (NEE 7.234 11/01/27) UNIT 11/01/2027 New 6,700,000 $3.3M

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 71$412.9MLANV, BFLY, CHA, ASHR, SPYM
Q1 2026 64$365.3MLANV, CHA, BFLY, ASHR, GDX
Q4 2025 51$394.7MLANV, CHA, BFLY, ASHR, SPYM
Q3 2025 46$267.4MLANV, BFLY, ASHR, GOOGL, JG
Q2 2025 52$351.6MLANV, IJH, BFLY, BBJP, ASHR
Q1 2025 47$351.2MLANV, NATR, BFLY, MCHI, ASHR
Q4 2024 47$319.6MLANV, NATR, BFLY, ASHR, KWEB
Q3 2024 52$303.7MLANV, NATR, BFLY, AMRX, MCHI
Q2 2024 46$296.3MLANV, NATR, AMRX, BFLY, MSFT
Q1 2024 45$321.0MLANV, AMRX, NATR, BFLY, MSFT