HSG Holding Ltd

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), HSG Holding Ltd reported 18 stock positions worth $2.6 billion. Its top holding was PDD (PDD) at 74.7% of the portfolio, followed by Full Truck Alliance -SPN ADR (YMM, 7.5%) and Kanzhun Ltd. - ADR (BZ, 5.5%). Compared with Q2 2024, it opened 1 new position, added to 1 and reduced 3. The biggest buy was Full Truck Alliance -SPN ADR (YMM, shares −0%) and the biggest sale PDD (PDD, shares −5%).

Most Recent 13F
Q2 2026
Location
K3
CIK
0001470766
Portfolio Value
$2.6B (Q3 2024)
SEC Filing
0000950123-24-011240 ↗ filed Nov 13, 2024

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 $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 Q2 2026

Holdings 18 stocks · $2.6B
PDD PDD Holdings Inc. 74.66% 15,444,770 $1.9B Reduce -5.2%
YMM Full Truck Alliance -SPN ADR 7.51% 21,873,415 $194.0M Add +0.0%
BZ Kanzhun Ltd. - ADR 5.53% 9,544,856 $142.9M Reduce -28.6%
FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 3.78% 1,057,644 $97.7M No change
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 2.31% 2,908,525 $59.7M Reduce -20.0%
NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD 1.63% 3,300,000 $42.0M No change
DDL Dingdong Cayman Ltd. -SPN ADR 1.34% 11,141,166 $34.6M No change
LOT Lotus Technology Inc. 0.86% 5,128,092 $22.3M New
AVBP Arrivent Biopharma Inc. 0.74% 663,308 $19.0M No change
GPCR Structure Therapeutics Inc. 0.40% 266,062 $10.3M No change
THCH TH International Ltd./Cayman 0.39% 14,503,032 $10.0M No change
COE 51 Talk Online Education Gro 0.38% 667,223 $9.7M No change
ADAG Adagene Inc.-ADR 0.14% 1,343,364 $3.6M No change
LYEL Lyell Immunopharma Inc. 0.13% 3,045,997 $3.4M No change
BTDR Bitdeer Technologies Group-A 0.09% 293,732 $2.4M No change
BRNS Barinthus Biotherapeutics PL 0.07% 1,420,473 $1.9M No change
SOLAI LIMITED filed as BIT MINING LIMITED 0.04% 350,427 $953K No change
BNR Burning Rock Biotech Ltd.-ADR 0.00% 21,212 $64K No change

Portfolio Sells Q2 2024 → Q3 2024
PDD PDD Holdings Inc. Reduce -5.2% 74.66% −3.98
BZ Kanzhun Ltd. - ADR Reduce -28.6% 5.53% −1.23
BEKE Ke Holdings Inc.-ADR Reduce -20.0% 2.31% +0.46

Portfolio Buys Q2 2024 → Q3 2024
YMM Full Truck Alliance -SPN ADR Add +0.0% 7.51% +1.13
LOT Lotus Technology Inc. New 0.86% +0.86

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