Kontiki Capital Management (HK) Ltd.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Kontiki Capital Management (HK) Ltd. reported 8 stock positions worth $1.7 billion. Its top holding was Nu Holdings Ltd./Cayman Isl-A (NU) at 33.3% of the portfolio, followed by HDFC Bank Ltd.-ADR (HDB, 15.6%) and Full Truck Alliance -SPN ADR (YMM, 12.7%). Compared with Q3 2025, it opened 1 new position, added to 3 and reduced 4. The biggest buy was H World Group Ltd.-ADR (HTHT, shares +50%) and the biggest sale Sea Ltd.-ADR (SE, shares −30%).

Most Recent 13F
Q2 2026
Location
Hong Kong, K3
CIK
0001713390
Portfolio Value
$1.7B (Q4 2025)
SEC Filing
0000899140-26-000157 ↗ filed Feb 11, 2026

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 Q1 2025 Q2 2025: $1.8B Q2 2025 Q3 2025: $1.9B Q3 2025 Q4 2025: $1.7B $1.7B Q4 2025 Q1 2026: $1.4B Q1 2026 Q2 2026: $1.5B Q2 2026

Holdings 8 stocks · $1.7B
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 33.28% 34,197,238 $572.5M Reduce -10.3%
HDB HDFC Bank Ltd.-ADR 15.64% 7,362,626 $269.0M Reduce -0.8%
YMM Full Truck Alliance -SPN ADR 12.71% 20,380,969 $218.7M Add +32.8%
HTHT H World Group Ltd.-ADR 10.13% 3,703,788 $174.3M Add +49.6%
SE Sea Ltd.-ADR 10.09% 1,359,992 $173.5M Reduce -29.7%
CPNG Coupang Inc. 9.70% 7,076,851 $166.9M Add +4.2%
SIRI Sirius XM Holdings Inc. 6.94% 5,968,024 $119.3M Reduce -10.3%
GLIBK Liberty Capital Corp. Class C filed as GCI LIBERTY INC 1.51% 698,184 $26.0M New

Portfolio Sells Q3 2025 → Q4 2025
SE Sea Ltd.-ADR Reduce -29.7% 10.09% −8.31
SIRI Sirius XM Holdings Inc. Reduce -10.3% 6.94% −1.31
NU Nu Holdings Ltd./Cayman Isl-A Reduce -10.3% 33.28% +0.79
HDB HDFC Bank Ltd.-ADR Reduce -0.8% 15.64% +2.15

Portfolio Buys Q3 2025 → Q4 2025
HTHT H World Group Ltd.-ADR Add +49.6% 10.13% +4.98
YMM Full Truck Alliance -SPN ADR Add +32.8% 12.71% +2.12
GLIBK Liberty Capital Corp. Class C New 1.51% +1.51
CPNG Coupang Inc. Add +4.2% 9.70% −1.93

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