HSG Holding Ltd
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), HSG Holding Ltd reported 20 stock positions worth $1.6 billion. Its top holding was PDD (PDD) at 70.4% of the portfolio, followed by Ke Holdings Inc.-ADR (BEKE, 6.6%) and Pony AI (PONY, 6.2%). Compared with Q4 2025, it opened 2 new positions, sold out of 1 and added to 1. The biggest buy was a new position in Pony AI (PONY) and the biggest sale an exit from Pony AI.
- Most Recent 13F
- Q2 2026
- Location
- K3
- CIK
- 0001470766
- Portfolio Value
- $1.6B (Q1 2026)
- SEC Filing
- 0001193125-26-226714 ↗ filed May 15, 2026
Holdings Value
Holdings 20 stocks · $1.6B
| PDD PDD Holdings Inc. | 70.35% | 11,348,426 | $1.1B | No change |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 6.64% | 1,939,017 | $107.6M | No change |
| PONY Pony AI Inc. | 6.18% | 7,538,358 | $100.1M | New |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 4.03% | 740,352 | $65.4M | No change |
| BULL Webull Corp. | 3.41% | 7,053,639 | $55.2M | No change |
| CRCL Circle Internet Group Inc. | 3.00% | 669,200 | $48.7M | Add +114.3% |
| BZ Kanzhun Ltd. - ADR | 1.71% | 1,900,000 | $27.8M | No change |
| DDL Dingdong Cayman Ltd. -SPN ADR | 1.63% | 10,091,839 | $26.3M | No change |
| AVBP Arrivent Biopharma Inc. | 0.86% | 663,308 | $14.0M | No change |
| COE 51 Talk Online Education Gro | 0.48% | 474,901 | $7.8M | No change |
| THCH TH International Ltd./Cayman | 0.47% | 2,900,606 | $7.5M | No change |
| LOT Lotus Technology Inc. | 0.39% | 4,834,099 | $6.3M | No change |
| GPCR Structure Therapeutics Inc. | 0.38% | 266,062 | $6.2M | No change |
| BTDR Bitdeer Technologies Group-A | 0.18% | 293,732 | $2.9M | No change |
| ADAG Adagene Inc.-ADR | 0.13% | 1,343,364 | $2.0M | No change |
| BRNS Barinthus Biotherapeutics PL | 0.07% | 1,420,473 | $1.2M | No change |
| SOLAI LIMITED | 0.04% | 350,427 | $627K | No change |
| YMT Yimutian Inc. | 0.03% | 3,442,060 | $544K | New |
| LYEL Lyell Immunopharma Inc. | 0.00% | 152,299 | $73K | No change |
| BNR Burning Rock Biotech Ltd.-ADR | 0.00% | 21,212 | $62K | No change |
Portfolio Sells Q4 2025 → Q1 2026
| PONY AI INC | Sold out | 0.00% | −5.78 |
Portfolio Buys Q4 2025 → Q1 2026
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 20 | $1.2B | PDD, FUTU, PONY, CRCL, BEKE |
| Q1 2026 | 20 | $1.6B | PDD, BEKE, PONY, FUTU, BULL |
| Q4 2025 | 19 | $1.9B | PDD, BZ, FUTU, PONY AI INC, BEKE |
| Q3 2025 | 19 | $1.9B | PDD, FUTU, BULL, BZ, COE |
| Q2 2025 | 19 | $1.9B | PDD, FUTU, BULL, PONY, BEKE |
| Q1 2025 | 17 | $1.7B | PDD, BEKE, FUTU, DDL, BZ |
| Q4 2024 | 18 | $2.4B | PDD, BZ, FUTU, THCH, DDL |
| Q3 2024 | 18 | $2.6B | PDD, YMM, BZ, FUTU, BEKE |
| Q2 2024 | 17 | $2.7B | PDD, BZ, YMM, FUTU, BEKE |
| Q1 2024 | 18 | $1.1B | YMM, BZ, PDD, FUTU, BEKE |