Infini Capital Management Ltd
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 30, 2025), Infini Capital Management Ltd reported 14 stock positions worth $99.5 million. Its top holding was Vnet Group Inc.-ADR (VNET) at 57.8% of the portfolio, followed by Ncino (NCNO, 11.2%) and Baidu Inc. - Spon ADR (BIDU, 7.6%). Compared with Q4 2024, it opened 10 new positions, sold out of 2 and reduced 1. The biggest buy was a new position in Ase Technology Holding -ADR (ASX) and the biggest sale Baidu Inc. - Spon ADR (BIDU, shares −55%).
- Most Recent 13F
- Q2 2026
- Location
- CENTRAL
- CIK
- 0001936249
- Portfolio Value
- $99.5M (Q1 2025)
- SEC Filing
- 0001936249-25-000003 ↗ filed Apr 30, 2025
Holdings Value
Holdings 14 stocks · $99.5M
| VNET Vnet Group Inc.-ADR | 57.77% | 7,010,422 | $57.5M | No change |
| NCNO Ncino Inc. | 11.15% | 403,921 | $11.1M | No change |
| BIDU Baidu Inc. - Spon ADR | 7.56% | 81,736 | $7.5M | Reduce -54.7% |
| PLTK Playtika Holding Corp. | 7.29% | 1,403,315 | $7.3M | No change |
| ASX Ase Technology Holding -ADR | 3.97% | 451,109 | $4.0M | New |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 3.54% | 175,206 | $3.5M | New |
| ECX Ecarx Holdings Inc. Class A | 2.01% | 1,591,044 | $2.0M | New |
| ZTO Zto Express Cayman Inc.-ADR | 1.99% | 100,000 | $2.0M | New |
| LI Li Auto Inc. - ADR | 1.87% | 74,000 | $1.9M | New |
| JD Jd.com Inc.-ADR | 1.60% | 38,800 | $1.6M | New |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 0.86% | 33,600 | $851K | New |
| MNSO Miniso Group Holding Ltd.-ADR | 0.29% | 15,650 | $289K | New |
| UMC United Microelectron-SP ADR | 0.09% | 12,816 | $92K | New |
| BABA Alibaba Group Holding-SP ADR | 0.00% | 25 | $3K | New |
Portfolio Sells Q4 2024 → Q1 2025
Portfolio Buys Q4 2024 → Q1 2025
| ASX Ase Technology Holding -ADR | New | 3.97% | +3.97 |
| BEKE Ke Holdings Inc.-ADR | New | 3.54% | +3.54 |
| ECX Ecarx Holdings Inc. Class A | New | 2.01% | +2.01 |
| ZTO Zto Express Cayman Inc.-ADR | New | 1.99% | +1.99 |
| LI Li Auto Inc. - ADR | New | 1.87% | +1.87 |
| JD Jd.com Inc.-ADR | New | 1.60% | +1.60 |
| GDS GDS Holdings Ltd. - ADR | New | 0.86% | +0.86 |
| MNSO Miniso Group Holding Ltd.-ADR | New | 0.29% | +0.29 |
| UMC United Microelectron-SP ADR | New | 0.09% | +0.09 |
| BABA Alibaba Group Holding-SP ADR | New | 0.00% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1 | $38.9M | VNET |
| Q1 2026 | 0 | $0 | |
| Q4 2025 | 2 | $12.4M | VNET, CHA |
| Q3 2025 | 10 | $99.5M | VNET, BIDU, KC, BEKE, GDS |
| Q2 2025 | 18 | $147.2M | VNET, BABA, INFY, PLTK, AS |
| Q1 2025 | 14 | $99.5M | VNET, NCNO, BIDU, PLTK, ASX |
| Q4 2024 | 6 | $79.1M | VNET, BIDU, NCNO, PLTK, NTES |
| Q3 2024 | 8 | $116.2M | JD, VNET, BABA, NCNO, PLTK |