Franchise Capital Ltd
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 28, 2025), Franchise Capital Ltd reported 30 stock positions worth $229.8 million. Its top holding was Nvidia (NVDA) at 29.6% of the portfolio, followed by PDD (PDD, 28.8%) and Taiwan Semiconductor-SP ADR (TSM, 14.5%). Compared with Q2 2025, it opened 8 new positions, sold out of 2, added to 5 and reduced 5. The biggest buy was a new position in Alphabet Class C (GOOG) and the biggest sale Meta Platforms Class A (META, shares −26%).
- Most Recent 13F
- Q3 2025
- Location
- GRAND CAYMAN, E9
- CIK
- 0001859388
- Portfolio Value
- $229.8M (Q3 2025)
- SEC Filing
- 0001859388-25-000009 ↗ filed Oct 28, 2025
Holdings Value
Holdings 30 stocks · $229.8M
| NVDA Nvidia Corp. | 29.65% | 365,060 | $68.1M | No change |
| PDD PDD Holdings Inc. | 28.85% | 501,460 | $66.3M | Reduce -0.1% |
| TSM Taiwan Semiconductor-SP ADR | 14.54% | 119,580 | $33.4M | No change |
| META Meta Platforms Inc. Class A | 7.77% | 24,300 | $17.8M | Reduce -25.6% |
| LKNCY Luckin Coffee Inc. - ADR | 6.97% | 421,321 | $16.0M | No change |
| GOOG Alphabet Inc. Class C | 2.81% | 26,500 | $6.5M | New |
| TSLA Tesla Inc. | 2.48% | 12,815 | $5.7M | No change |
| AVGO Broadcom Inc. | 1.19% | 8,290 | $2.7M | New |
| CHA Chagee Holdings Ltd.-ADR | 1.13% | 157,457 | $2.6M | No change |
| CRDO Credo Technology Group Holdi | 1.06% | 16,800 | $2.4M | New |
| RBLX Roblox Corp. Class A | 0.91% | 15,140 | $2.1M | Reduce -0.4% |
| YB Yuanbao Inc. -ADR | 0.57% | 66,666 | $1.3M | No change |
| PLTR Palantir Technologies Inc. Class A | 0.37% | 4,700 | $857K | New |
| SE Sea Ltd.-ADR | 0.33% | 4,266 | $762K | New |
| SHOP Shopify Inc. Class A | 0.33% | 5,119 | $761K | New |
| IBIT iShares Bitcoin Trust ETF | 0.11% | 3,993 | $260K | Add +53.4% |
| ETHA iShares Ethereum Trust ETF | 0.10% | 7,050 | $222K | New |
| VTR Ventas Inc. | 0.10% | 3,172 | $222K | No change |
| DLR Digital Realty Trust Inc. | 0.10% | 1,268 | $219K | Add +16.5% |
| PHM Pultegroup Inc. | 0.09% | 1,640 | $217K | Add +26.1% |
| EQIX Equinix Inc. | 0.09% | 267 | $209K | Add +23.0% |
| HST Host Hotels & Resorts Inc. | 0.08% | 11,395 | $194K | No change |
| AHR American Healthcare REIT Inc. | 0.08% | 4,375 | $184K | No change |
| DHI D.R. Horton Inc. | 0.08% | 1,077 | $183K | Add +72.0% |
| CRCL Circle Internet Group Inc. | 0.05% | 870 | $115K | Reduce -91.3% |
| WELL Welltower Inc. | 0.04% | 569 | $101K | Reduce -26.0% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 0.03% | 4,000 | $76K | New |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.03% | 2,296 | $75K | No change |
| NVR NVR Inc. | 0.02% | 7 | $56K | No change |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.02% | 455 | $46K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| META Meta Platforms Inc. Class A | Reduce -25.6% | 7.77% | −4.80 |
| CRCL Circle Internet Group Inc. | Reduce -91.3% | 0.05% | −0.90 |
| EPRT Essential Properties Realty | Sold out | 0.00% | −0.02 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.02 |
| WELL Welltower Inc. | Reduce -26.0% | 0.04% | −0.02 |
| RBLX Roblox Corp. Class A | Reduce -0.4% | 0.91% | +0.08 |
| PDD PDD Holdings Inc. | Reduce -0.1% | 28.85% | +1.44 |
Portfolio Buys Q2 2025 → Q3 2025
| GOOG Alphabet Inc. Class C | New | 2.81% | +2.81 |
| AVGO Broadcom Inc. | New | 1.19% | +1.19 |
| CRDO Credo Technology Group Holdi | New | 1.06% | +1.06 |
| PLTR Palantir Technologies Inc. Class A | New | 0.37% | +0.37 |
| SE Sea Ltd.-ADR | New | 0.33% | +0.33 |
| SHOP Shopify Inc. Class A | New | 0.33% | +0.33 |
| ETHA iShares Ethereum Trust ETF | New | 0.10% | +0.10 |
| DHI D.R. Horton Inc. | Add +72.0% | 0.08% | +0.04 |
| BEKE Ke Holdings Inc.-ADR | New | 0.03% | +0.03 |
| IBIT iShares Bitcoin Trust ETF | Add +53.4% | 0.11% | +0.03 |
| PHM Pultegroup Inc. | Add +26.1% | 0.09% | +0.02 |
| EQIX Equinix Inc. | Add +23.0% | 0.09% | +0.00 |
| DLR Digital Realty Trust Inc. | Add +16.5% | 0.10% | −0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2025 | 30 | $229.8M | NVDA, PDD, TSM, META, LKNCY |
| Q2 2025 | 24 | $191.7M | NVDA, PDD, TSM, META, LKNCY |
| Q1 2025 | 20 | $167.9M | PDD, NVDA, META, LKNCY, TSM |
| Q4 2024 | 16 | $215.7M | NVDA, PDD, META, LKNCY, IBIT |
| Q3 2024 | 10 | $277.4M | PDD, NVDA, META, LKNCY, TSLA |
| Q2 2024 | 9 | $413.5M | NVDA, PDD, NVO, META, MSFT |
| Q1 2024 | 16 | $537.7M | NVDA, PDD, MSFT, LI, LKNCY |