Hel Ved Capital Management Ltd
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Hel Ved Capital Management Ltd reported 61 stock positions worth $198.3 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 13.2% of the portfolio, followed by Lexinfintech Holdings L-ADR (LX, 6.7%) and Micron Technology (MU, 6.6%). Compared with Q4 2024, it opened 19 new positions, sold out of 34, added to 9 and reduced 32. The biggest buy was a new position in Taiwan Semiconductor-SP ADR (TSM) and the biggest sale an exit from Flex (FLEX).
- Most Recent 13F
- Q2 2026
- Location
- CENTRAL, K3
- CIK
- 0001840129
- Portfolio Value
- $198.3M (Q1 2025)
- SEC Filing
- 0001840129-25-000003 ↗ filed May 14, 2025
Holdings Value
Holdings 61 stocks · $198.3M
| TSM Taiwan Semiconductor-SP ADR | 13.21% | 157,840 | $26.2M | New |
| LX Lexinfintech Holdings L-ADR | 6.71% | 1,318,400 | $13.3M | Add +16.7% |
| MU Micron Technology Inc. | 6.60% | 150,700 | $13.1M | New |
| EDU New Oriental Educatio-SP ADR | 5.72% | 237,200 | $11.3M | Add +13.9% |
| LRCX Lam Research Corp. | 4.90% | 133,700 | $9.7M | New |
| KEYS Keysight Technologies Inc. | 4.75% | 62,830 | $9.4M | Reduce -46.3% |
| ASX Ase Technology Holding -ADR | 3.95% | 894,450 | $7.8M | Add +37.2% |
| TCOM Trip.com Group Ltd.-ADR | 3.50% | 109,100 | $6.9M | Add +519.9% |
| PONY Pony AI Inc. | 3.18% | 715,913 | $6.3M | Reduce -28.8% |
| AMBA Ambarella Inc. | 3.10% | 122,330 | $6.2M | New |
| LITE Lumentum Holdings Inc. | 3.01% | 95,690 | $6.0M | Reduce -57.8% |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 2.45% | 108,000 | $4.9M | New |
| XYZ Block Inc. | 2.03% | 73,950 | $4.0M | Reduce -5.1% |
| SNDK Sandisk Corp. | 1.83% | 76,300 | $3.6M | New |
| VNET Vnet Group Inc.-ADR | 1.71% | 413,500 | $3.4M | New |
| GTM Zoominfo Technologies Inc. | 1.67% | 331,250 | $3.3M | Reduce -41.9% |
| LU Lufax Holding Ltd.-ADR | 1.67% | 1,115,000 | $3.3M | New |
| RIOT Riot Platforms Inc. | 1.65% | 460,150 | $3.3M | Add +6.7% |
| MNDY Monday.com Ltd. | 1.49% | 12,120 | $2.9M | Reduce -60.4% |
| FOUR SHIFT4 Payments Inc. Class A | 1.45% | 35,260 | $2.9M | Add +215.9% |
| SEI Solaris Energy Infrastructur | 1.38% | 125,400 | $2.7M | New |
| WIX Wix.com Ltd. | 1.25% | 15,150 | $2.5M | Reduce -57.0% |
| FINV Finvolution Group-ADR | 1.24% | 254,594 | $2.5M | New |
| ADBE Adobe Inc. | 1.22% | 6,318 | $2.4M | New |
| BTDR Bitdeer Technologies Group-A | 1.17% | 261,680 | $2.3M | Reduce -0.3% |
| CFLT Confluent Inc. Class A | 1.11% | 93,922 | $2.2M | Reduce -21.6% |
| CIFR Cipher Digital Inc. | 1.10% | 952,135 | $2.2M | Add +3.5% |
| RBLX Roblox Corp. Class A | 0.99% | 33,800 | $2.0M | New |
| BE Bloom Energy Corp. Class A | 0.98% | 98,400 | $1.9M | Reduce -53.8% |
| ESTC Elastic NV | 0.91% | 20,160 | $1.8M | Reduce -45.8% |
| SNOW Snowflake Inc. | 0.85% | 11,580 | $1.7M | Add +45.4% |
| DDOG Datadog Inc. Class A | 0.79% | 15,820 | $1.6M | Reduce -38.1% |
| FISV Fiserv Inc. | 0.77% | 6,950 | $1.5M | Reduce -40.9% |
| HUT Hut 8 Corp. | 0.73% | 124,360 | $1.4M | Reduce -35.5% |
| COIN Coinbase Global Inc. Class A | 0.68% | 7,822 | $1.3M | Reduce -60.8% |
| ZM Zoom Communications Inc. | 0.66% | 17,665 | $1.3M | Reduce -43.5% |
| CLS Celestica Inc. | 0.65% | 16,300 | $1.3M | Reduce -40.7% |
| EH Ehang Holdings Ltd.-SPS ADR | 0.64% | 61,000 | $1.3M | New |
| BL Blackline Inc. | 0.58% | 23,830 | $1.2M | Reduce -47.1% |
| TSLA Tesla Inc. | 0.55% | 4,204 | $1.1M | Reduce -59.2% |
| CDNS Cadence Design SYS Inc. | 0.51% | 4,000 | $1.0M | New |
| PCOR Procore Technologies Inc. | 0.51% | 15,380 | $1.0M | Reduce -31.6% |
| CLSK Cleanspark Inc. | 0.49% | 145,700 | $979K | Reduce -66.2% |
| WULF Terawulf Inc. | 0.49% | 356,300 | $973K | Reduce -10.6% |
| OKTA Okta Inc. | 0.47% | 8,840 | $930K | Add +31.9% |
| CRM Salesforce Inc. | 0.47% | 3,452 | $926K | Reduce -57.1% |
| GDDY GoDaddy Inc. Class A | 0.45% | 4,975 | $896K | Reduce -52.6% |
| S Sentinelone Inc. Class A | 0.43% | 46,700 | $849K | Reduce -41.5% |
| MDB Mongodb Inc. | 0.40% | 4,475 | $785K | Reduce -48.9% |
| DOCU Docusign Inc. | 0.36% | 8,850 | $720K | Reduce -65.0% |
| ZS Zscaler Inc. | 0.35% | 3,495 | $693K | Reduce -66.3% |
| MARA Mara Holdings Inc. | 0.34% | 59,100 | $680K | Reduce -73.4% |
| HUBS HubSpot Inc. | 0.27% | 935 | $534K | Reduce -80.7% |
| GTLB Gitlab Inc. Class A | 0.27% | 11,250 | $529K | Reduce -82.1% |
| APP AppLovin Corp. Class A | 0.26% | 1,938 | $514K | New |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.26% | 1,755 | $506K | Reduce -79.6% |
| ADSK Autodesk Inc. | 0.24% | 1,850 | $484K | New |
| SAIL Sailpoint Inc. | 0.19% | 20,000 | $375K | New |
| U Unity Software Inc. | 0.17% | 17,400 | $341K | New |
| BITF Bitfarms Ltd./Canada | 0.17% | 420,000 | $331K | No change |
| RERE Atrenew Inc. | 0.07% | 50,000 | $147K | New |
Options reported separately and not counted above: QQQ calls ($48.3M), FSLR puts ($24.1M), CORZ calls ($6.2M).
Portfolio Sells Q4 2024 → Q1 2025
| FLEX Flex Ltd. | Sold out | 0.00% | −7.12 |
| FUTU Futu Holdings Ltd.-ADR | Sold out | 0.00% | −3.80 |
| ROK Rockwell Automation Inc. | Sold out | 0.00% | −3.21 |
| LITE Lumentum Holdings Inc. | Reduce -57.8% | 3.01% | −2.82 |
| BILL Bill Holdings Inc. | Sold out | 0.00% | −2.46 |
| NOK Nokia Corp.-Spon ADR | Sold out | 0.00% | −2.45 |
| AMKR Amkor Technology Inc. | Sold out | 0.00% | −2.24 |
| JD Jd.com Inc.-ADR | Sold out | 0.00% | −1.75 |
| CIEN Ciena Corp. | Sold out | 0.00% | −1.25 |
| PONY Pony AI Inc. | Reduce -28.8% | 3.18% | −1.24 |
| IREN Iren Ltd. | Sold out | 0.00% | −1.19 |
| WIX Wix.com Ltd. | Reduce -57.0% | 1.25% | −1.07 |
| SOFI Sofi Technologies Inc. | Sold out | 0.00% | −1.03 |
| MXL Maxlinear Inc. | Sold out | 0.00% | −1.02 |
| KEYS Keysight Technologies Inc. | Reduce -46.3% | 4.75% | −1.01 |
| UPST Upstart Holdings Inc. | Sold out | 0.00% | −0.98 |
| AFRM Affirm Holdings Inc. | Sold out | 0.00% | −0.92 |
| COIN Coinbase Global Inc. Class A | Reduce -60.8% | 0.68% | −0.84 |
| GTLB Gitlab Inc. Class A | Reduce -82.1% | 0.27% | −0.82 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.81 |
| MARA Mara Holdings Inc. | Reduce -73.4% | 0.34% | −0.80 |
| AOSL Alpha & Omega Semiconductor | Sold out | 0.00% | −0.77 |
| HUBS HubSpot Inc. | Reduce -80.7% | 0.27% | −0.76 |
| PYCR Paycor HCM Inc. | Sold out | 0.00% | −0.73 |
| TSLA Tesla Inc. | Reduce -59.2% | 0.55% | −0.73 |
| CLSK Cleanspark Inc. | Reduce -66.2% | 0.49% | −0.72 |
| MNDY Monday.com Ltd. | Reduce -60.4% | 1.49% | −0.72 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.67 |
| FROG Jfrog Ltd. | Sold out | 0.00% | −0.66 |
| OLED Universal Display Corp. | Sold out | 0.00% | −0.64 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.62 |
| BTDR Bitdeer Technologies Group-A | Reduce -0.3% | 1.17% | −0.58 |
| RUN Sunrun Inc. | Sold out | 0.00% | −0.55 |
| GPN Global Payments Inc. | Sold out | 0.00% | −0.53 |
| MSTR Strategy Inc. | Reduce -79.6% | 0.26% | −0.51 |
| GOTU Gaotu Techedu Inc. | Sold out | 0.00% | −0.50 |
| WDAY Workday Inc. Class A | Sold out | 0.00% | −0.50 |
| HUT Hut 8 Corp. | Reduce -35.5% | 0.73% | −0.48 |
| BE Bloom Energy Corp. Class A | Reduce -53.8% | 0.98% | −0.47 |
| DT Dynatrace Inc. | Sold out | 0.00% | −0.42 |
| PAYC Paycom Software Inc. | Sold out | 0.00% | −0.38 |
| AVDX Avidxchange Holdings Inc. | Sold out | 0.00% | −0.37 |
| CRM Salesforce Inc. | Reduce -57.1% | 0.47% | −0.36 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −0.34 |
| PCTY Paylocity Holding Corp. | Sold out | 0.00% | −0.34 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.33 |
| DOCU Docusign Inc. | Reduce -65.0% | 0.36% | −0.33 |
| DDOG Datadog Inc. Class A | Reduce -38.1% | 0.79% | −0.33 |
| CPAY Corpay Inc. | Sold out | 0.00% | −0.28 |
| BL Blackline Inc. | Reduce -47.1% | 0.58% | −0.26 |
Portfolio Buys Q4 2024 → Q1 2025
| TSM Taiwan Semiconductor-SP ADR | New | 13.21% | +13.21 |
| MU Micron Technology Inc. | New | 6.60% | +6.60 |
| LRCX Lam Research Corp. | New | 4.90% | +4.90 |
| LX Lexinfintech Holdings L-ADR | Add +16.7% | 6.71% | +4.70 |
| TCOM Trip.com Group Ltd.-ADR | Add +519.9% | 3.50% | +3.13 |
| AMBA Ambarella Inc. | New | 3.10% | +3.10 |
| QFIN Qfin Holdings Inc.-ADR | New | 2.45% | +2.45 |
| ASX Ase Technology Holding -ADR | Add +37.2% | 3.95% | +1.94 |
| SNDK Sandisk Corp. | New | 1.83% | +1.83 |
| VNET Vnet Group Inc.-ADR | New | 1.71% | +1.71 |
| LU Lufax Holding Ltd.-ADR | New | 1.67% | +1.67 |
| EDU New Oriental Educatio-SP ADR | Add +13.9% | 5.72% | +1.62 |
| SEI Solaris Energy Infrastructur | New | 1.38% | +1.38 |
| FINV Finvolution Group-ADR | New | 1.24% | +1.24 |
| ADBE Adobe Inc. | New | 1.22% | +1.22 |
| FOUR SHIFT4 Payments Inc. Class A | Add +215.9% | 1.45% | +1.10 |
| RBLX Roblox Corp. Class A | New | 0.99% | +0.99 |
| EH Ehang Holdings Ltd.-SPS ADR | New | 0.64% | +0.64 |
| CDNS Cadence Design SYS Inc. | New | 0.51% | +0.51 |
| SNOW Snowflake Inc. | Add +45.4% | 0.85% | +0.48 |
| OKTA Okta Inc. | Add +31.9% | 0.47% | +0.31 |
| RIOT Riot Platforms Inc. | Add +6.7% | 1.65% | +0.30 |
| APP AppLovin Corp. Class A | New | 0.26% | +0.26 |
| ADSK Autodesk Inc. | New | 0.24% | +0.24 |
| SAIL Sailpoint Inc. | New | 0.19% | +0.19 |
| U Unity Software Inc. | New | 0.17% | +0.17 |
| RERE Atrenew Inc. | New | 0.07% | +0.07 |
| CIFR Cipher Digital Inc. | Add +3.5% | 1.10% | −0.20 |
Options Activity Q4 2024 → Q1 2025
| QQQ Invesco QQQ Trust Series 1 | call | New | 103,000 | $48.3M |
| FSLR First Solar Inc. | put | New | 190,500 | $24.1M |
| BE Bloom Energy Corp. Class A | call | Sold out | 320,300 | $7.1Mbefore exit |
| CORZ Core Scientific Inc. | call | New | 850,000 | $6.2M |
| FLEX Flex Ltd. | call | Sold out | 113,000 | $4.3Mbefore exit |
| ADSK Autodesk Inc. | call | Sold out | 11,500 | $3.4Mbefore exit |
| ARKF ARK Blockchain & Fintech Inn | call | Sold out | 10,000 | $371Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 63 | $709.7M | SNDK, GLW, SOXX, INTC, QCOM |
| Q1 2026 | 52 | $578.1M | SMH, Q, SNDK, INTC, CIEN |
| Q4 2025 | 49 | $289.3M | LITE, COHR, CIEN, TSLA, PRIM |
| Q3 2025 | 62 | $184.3M | PONY, EDU, PSIX, KEYS, PRIM |
| Q2 2025 | 58 | $222.3M | LITE, QQQ, EDU, AMD, LX |
| Q1 2025 | 61 | $198.3M | TSM, LX, MU, EDU, LRCX |
| Q4 2024 | 76 | $326.3M | FLEX, LITE, KEYS, PONY, EDU |
| Q3 2024 | 50 | $212.3M | EDU, COIN, IWM, GEV, AMKR |
| Q2 2024 | 47 | $288.2M | COIN, GEV, EDU, DELL, SE |
| Q1 2024 | 49 | $403.1M | COIN, VRT, TSM, PDD, STX |