IDG China Venture Capital Fund IV Associates L.P.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), IDG China Venture Capital Fund IV Associates L.P. reported 4 stock positions worth $233.5 million. Its top holding was PDD (PDD) at 84.9% of the portfolio, followed by Pony AI (PONY, 13.8%) and Lightinthebox Holding-ADR (LITB, 0.9%). Compared with Q3 2025, it reduced 2. The biggest sale was Pony AI (PONY, shares −76%).

Most Recent 13F
Q2 2026
Location
HONG KONG, K3
CIK
0001609021
Portfolio Value
$233.5M (Q4 2025)
SEC Filing
0001104659-26-014639 ↗ filed Feb 13, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $442.8M Q1 2024 Q2 2024: $436.6M Q2 2024 Q3 2024: $419.6M Q3 2024 Q4 2024: $430.7M Q4 2024 Q1 2025: $403.1M Q1 2025 Q2 2025: $408.0M Q2 2025 Q3 2025: $476.4M Q3 2025 Q4 2025: $233.5M $233.5M Q4 2025 Q1 2026: $219.2M Q1 2026 Q2 2026: $147.3M Q2 2026

Holdings 4 stocks · $233.5M
PDD PDD Holdings Inc. 84.94% 1,749,029 $198.3M Reduce -12.5%
PONY Pony AI Inc. 13.76% 2,216,250 $32.1M Reduce -76.1%
LITB Lightinthebox Holding-ADR 0.86% 898,969 $2.0M No change
BTDR Bitdeer Technologies Group-A 0.44% 91,308 $1.0M No change

Portfolio Sells Q3 2025 → Q4 2025
PONY Pony AI Inc. Reduce -76.1% 13.76% −30.08
PDD PDD Holdings Inc. Reduce -12.5% 84.94% +29.51

Portfolio Buys Q3 2025 → Q4 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 4$147.3MPDD, PONY, LITB, BTDR
Q1 2026 4$219.2MPDD, PONY, LITB, BTDR
Q4 2025 4$233.5MPDD, PONY, LITB, BTDR
Q3 2025 4$476.4MPDD, PONY, LITB, BTDR
Q2 2025 4$408.0MPDD, PONY, BTDR, LITB
Q1 2025 4$403.1MPDD, PONY, LITB, BTDR
Q4 2024 4$430.7MPDD, PONY, BTDR, LITB
Q3 2024 3$419.6MPDD, LITB, BTDR
Q2 2024 4$436.6MPDD, LITB, BTDR, LUMINAR TECHNOLOGIES INC
Q1 2024 4$442.8MPDD, LITB, LUMINAR TECHNOLOGIES INC, BTDR