HSG Holding Ltd

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 13, 2026), HSG Holding Ltd reported 20 stock positions worth $1.2 billion. Its top holding was PDD (PDD) at 72.3% of the portfolio, followed by Futu Holdings Ltd.-ADR (FUTU, 5.8%) and Pony AI (PONY, 4.4%). Compared with Q1 2026, it opened 2 new positions and sold out of 2. The biggest buy was a new position in Gyre Therapeutics (GYRE) and the biggest sale an exit from Webull (BULL).

Most Recent 13F
Q2 2026
Location
K3
CIK
0001470766
Portfolio Value
$1.2B (Q2 2026)
SEC Filing
0001193125-26-348168 ↗ filed Aug 13, 2026

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $1.1B Q1 2024 Q2 2024: $2.7B Q2 2024 Q3 2024: $2.6B Q3 2024 Q4 2024: $2.4B Q4 2024 Q1 2025: $1.7B Q1 2025 Q2 2025: $1.9B Q2 2025 Q3 2025: $1.9B Q3 2025 Q4 2025: $1.9B Q4 2025 Q1 2026: $1.6B Q1 2026 Q2 2026: $1.2B $1.2B Q2 2026

Holdings 20 stocks · $1.2B

PDD PDD Holdings Inc. 72.31% 11,348,426 $865.7M No change
FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 5.80% 740,352 $69.4M No change
PONY Pony AI Inc. 4.38% 7,538,358 $52.4M No change
CRCL Circle Internet Group Inc. 3.50% 669,200 $41.9M No change
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 2.35% 1,939,017 $28.2M No change
GYRE Gyre Therapeutics Inc. 2.06% 3,750,299 $24.7M New
BZ Kanzhun Ltd. - ADR 2.04% 1,900,000 $24.5M No change
AVBP Arrivent Biopharma Inc. 1.93% 663,308 $23.0M No change
DDL Dingdong Cayman Ltd. -SPN ADR 1.63% 10,091,839 $19.5M No change
GPCR Structure Therapeutics Inc. 1.19% 266,062 $14.3M No change
COE 51 Talk Online Education Gro 0.63% 474,901 $7.6M No change
LOT Lotus Technology Inc. 0.47% 4,834,099 $5.7M No change
ADAG Adagene Inc.-ADR 0.47% 1,343,364 $5.6M No change
THCH TH International Ltd./Cayman 0.46% 2,900,606 $5.5M No change
BTDR Bitdeer Technologies Group-A 0.39% 293,732 $4.7M No change
LYEL Lyell Immunopharma Inc. 0.18% 152,299 $2.1M No change
SOLAI LIMITED 0.09% 350,427 $1.1M No change
BRNS Barinthus Biotherapeutics PL 0.08% 1,420,473 $938K No change
BNR Burning Rock Biotech Ltd.-ADR 0.01% 21,212 $178K No change
YMT Yimutian Inc. 0.01% 229,470 $122K New

Portfolio Sells Q1 2026 → Q2 2026

BULL Webull Corp. Sold out 0.00% −3.41
YMT Yimutian Inc. Sold out 0.00% −0.03

Portfolio Buys Q1 2026 → Q2 2026

GYRE Gyre Therapeutics Inc. New 2.06% +2.06
YMT Yimutian Inc. New 0.01% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 20$1.2BPDD, FUTU, PONY, CRCL, BEKE
Q1 2026 20$1.6BPDD, BEKE, PONY, FUTU, BULL
Q4 2025 19$1.9BPDD, BZ, FUTU, PONY AI INC, BEKE
Q3 2025 19$1.9BPDD, FUTU, BULL, BZ, COE
Q2 2025 19$1.9BPDD, FUTU, BULL, PONY, BEKE
Q1 2025 17$1.7BPDD, BEKE, FUTU, DDL, BZ
Q4 2024 18$2.4BPDD, BZ, FUTU, THCH, DDL
Q3 2024 18$2.6BPDD, YMM, BZ, FUTU, BEKE
Q2 2024 17$2.7BPDD, BZ, YMM, FUTU, BEKE
Q1 2024 18$1.1BYMM, BZ, PDD, FUTU, BEKE