Kontiki Capital Management (HK) Ltd.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Kontiki Capital Management (HK) Ltd. reported 8 stock positions worth $1.4 billion. Its top holding was Sea Ltd.-ADR (SE) at 31.8% of the portfolio, followed by Nu Holdings Ltd./Cayman Isl-A (NU, 24.0%) and HDFC Bank Ltd.-ADR (HDB, 17.9%). Compared with Q4 2024, it opened 1 new position, sold out of 2 and added to 7. The biggest buy was a new position in Full Truck Alliance -SPN ADR (YMM) and the biggest sale an exit from Liberty Media Class C (FWONK).

Most Recent 13F
Q2 2026
Location
Hong Kong, K3
CIK
0001713390
Portfolio Value
$1.4B (Q1 2025)
SEC Filing
0000899140-25-000590 ↗ filed May 12, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $906.9M Q1 2024 Q2 2024: $1.0B Q2 2024 Q3 2024: $1.3B Q3 2024 Q4 2024: $1.1B Q4 2024 Q1 2025: $1.4B $1.4B Q1 2025 Q2 2025: $1.8B Q2 2025 Q3 2025: $1.9B Q3 2025 Q4 2025: $1.7B Q4 2025 Q1 2026: $1.4B Q1 2026 Q2 2026: $1.5B Q2 2026

Holdings 8 stocks · $1.4B
SE Sea Ltd.-ADR 31.82% 3,388,516 $442.2M Add +3.4%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 24.01% 32,575,725 $333.6M Add +54.3%
HDB HDFC Bank Ltd.-ADR 17.85% 3,733,854 $248.1M Add +3.4%
CPNG Coupang Inc. 11.38% 7,210,768 $158.1M Add +3.4%
TCOM Trip.com Group Ltd.-ADR 8.83% 1,929,847 $122.7M Add +3.4%
YMM Full Truck Alliance -SPN ADR 5.85% 6,368,026 $81.3M New
LLYVK Liberty Media Corp.-Liberty-C 0.22% 44,594 $3.0M Add +3.4%
LLYVA Liberty Media Corp.-Liberty-A 0.04% 8,529 $573K Add +3.4%

Portfolio Sells Q4 2024 → Q1 2025
FWONK Liberty Media Corp. Class C Sold out 0.00% −4.75
FWONA Liberty Media Corp. Class A Sold out 0.00% −0.92

Portfolio Buys Q4 2024 → Q1 2025
YMM Full Truck Alliance -SPN ADR New 5.85% +5.85
NU Nu Holdings Ltd./Cayman Isl-A Add +54.3% 24.01% +4.94
SE Sea Ltd.-ADR Add +3.4% 31.82% +1.50
LLYVA Liberty Media Corp.-Liberty-A Add +3.4% 0.04% −0.01
LLYVK Liberty Media Corp.-Liberty-C Add +3.4% 0.22% −0.04
CPNG Coupang Inc. Add +3.4% 11.38% −1.98
HDB HDFC Bank Ltd.-ADR Add +3.4% 17.85% −2.25
TCOM Trip.com Group Ltd.-ADR Add +3.4% 8.83% −2.34

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 7$1.5BNU, CPNG, HDB, SE, SIRI
Q1 2026 7$1.4BNU, CPNG, HTHT, SE, HDB
Q4 2025 8$1.7BNU, HDB, YMM, HTHT, SE
Q3 2025 7$1.9BNU, SE, HDB, CPNG, YMM
Q2 2025 6$1.8BNU, SE, HDB, CPNG, YMM
Q1 2025 8$1.4BSE, NU, HDB, CPNG, TCOM
Q4 2024 9$1.1BSE, HDB, NU, CPNG, TCOM
Q3 2024 9$1.3BSE, NU, HDB, CPNG, TCOM
Q2 2024 9$1.0BSE, NU, CPNG, TCOM, FWONK
Q1 2024 8$906.9MNU, SE, TCOM, CPNG, FWONK