KEYWISE CAPITAL MANAGEMENT (HK) Ltd In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), KEYWISE CAPITAL MANAGEMENT (HK) Ltd reported 17 stock positions worth $1.3 billion . Its top holding was Alphabet Class A (GOOGL) at 31.5% of the portfolio, followed by Palantir Technologies Class A (PLTR, 28.8% ) and Estee Lauder Companies Class A (EL, 11.7% ). Compared with Q3 2025, it opened 2 new positions, sold out of 4, added to 8 and reduced 6. The biggest buy was Estee Lauder Companies Class A (EL, shares +70% ) and the biggest sale Miniso Group Holding Ltd.-ADR (MNSO, shares −71% ).
Location HONG KONG, K3
CIK 0001474069
Portfolio Value $1.3B (Q4 2025) Holdings 17 stocks · $1.3B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2025 GOOGL Alphabet Inc. Class A 1,263,900 $395.6M Reduce -0.3% PLTR Palantir Technologies Inc. Class A 2,035,230 $361.8M Reduce -0.2% EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 1,400,800 $146.7M Add +70.1% CRCL Circle Internet Group Inc. 1,249,970 $99.1M Add +127.3% NVDA Nvidia Corp. 477,190 $89.0M Reduce -56.2% ATAT Atour Lifestyle Holdings-ADR 1,481,837 $58.4M Add +5827.4% ORCL Oracle Corp. 247,300 $48.2M New MNSO Miniso Group Holding Ltd.-ADR 2,290,675 $43.0M Reduce -71.4% ZZPWF Zooz Power Ltd. filed as ZOOZ STRATEGY LTD 8,000,000 $3.5M New BILI Bilibili Inc.-Sponsored ADR 126,080 $3.1M Add +94.0% TSM Taiwan Semiconductor-SP ADR 6,860 $2.1M Add +70.2% PDD PDD Holdings Inc. 16,500 $1.9M Reduce -92.5% HWM Howmet Aerospace Inc. 7,900 $1.6M Add +61.2% YMM Full Truck Alliance -SPN ADR 135,200 $1.5M Add +111.3% ADI Analog Devices Inc. 4,180 $1.1M Add +75.6% ETHU 2X Ether ETF 12,300 $673K No change INTC Intel Corp. 12,520 $462K Reduce -77.2%
Options reported separately and not counted above: BILI calls ($25.9M), GOOGL calls ($18.8M).
Portfolio Sells Q3 2025 → Q4 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▲ MNSO Miniso Group Holding Ltd.-ADR Reduce -71.4% 3.42% −11.01 NVDA Nvidia Corp. Reduce -56.2% 7.08% −9.19 PDD PDD Holdings Inc. Reduce -92.5% 0.15% −2.18 PLTR Palantir Technologies Inc. Class A Reduce -0.2% 28.77% −1.01 INTC Intel Corp. Reduce -77.2% 0.04% −0.11 ZS Zscaler Inc. Sold out 0.00% −0.05 SNOW Snowflake Inc. Sold out 0.00% −0.05 HOOD Robinhood Markets Inc. Class A Sold out 0.00% −0.03 GDS GDS Holdings Ltd. - ADR Sold out 0.00% −0.02 GOOGL Alphabet Inc. Class A Reduce -0.3% 31.46% +6.80
Portfolio Buys Q3 2025 → Q4 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▼ EL Estee Lauder Companies Class A Add +70.1% 11.66% +5.86 ATAT Atour Lifestyle Holdings-ADR Add +5827.4% 4.64% +4.57 ORCL Oracle Corp. New 3.83% +3.83 CRCL Circle Internet Group Inc. Add +127.3% 7.88% +2.05 ZZPWF Zooz Power Ltd. New 0.28% +0.28 BILI Bilibili Inc.-Sponsored ADR Add +94.0% 0.25% +0.10 TSM Taiwan Semiconductor-SP ADR Add +70.2% 0.17% +0.08 HWM Howmet Aerospace Inc. Add +61.2% 0.13% +0.05 YMM Full Truck Alliance -SPN ADR Add +111.3% 0.12% +0.05 ADI Analog Devices Inc. Add +75.6% 0.09% +0.04
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ BILI Bilibili Inc.-Sponsored ADR call Add +24.9% 1,054,000 $25.9M INTC Intel Corp. call Sold out 300,000 $10.1Mbefore exit BABA Alibaba Group Holding-SP ADR call Sold out 28,000 $5.0Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 12 $694.4M TSM, GOOGL, STX, CRCL, PDD Q1 2026 10 $593.3M TSM, GOOGL, CRCL, PLTR, STX Q4 2025 17 $1.3B GOOGL, PLTR, EL, CRCL, NVDA Q3 2025 19 $1.2B PLTR, GOOGL, NVDA, MNSO, CRCL Q2 2025 13 $1.1B PLTR, GOOGL, NVDA, MNSO, PDD Q1 2025 11 $907.8M PLTR, MNSO, PDD, NVDA, GOOGL Q4 2024 14 $1.2B PLTR, MNSO, TSM, PDD, NVDA Q3 2024 14 $1.0B PLTR, TSM, PDD, MNSO, EDU Q2 2024 12 $827.2M TSM, PLTR, MNSO, EDU, PDD Q1 2024 12 $737.5M TSM, PLTR, EDU, MNSO, NVDA