MASO CAPITAL PARTNERS Ltd In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), MASO CAPITAL PARTNERS Ltd reported 27 stock positions worth $132.8 million . Its top holding was Fiscalnote (NOTE) at 29.0% of the portfolio, followed by Hollysys Automation Technolo (HOLI, 21.3% ) and Joyy Inc.-ADR (JOYY, 6.8% ). Compared with Q4 2023, it opened 12 new positions, sold out of 4, added to 1 and reduced 5. The biggest buy was a new position in Pioneer Natural Resources (PXD) and the biggest sale an exit from Magnum Opus Acquisition LT-A (OPA).
Location HONG KONG, K3
CIK 0001698093
Portfolio Value $132.8M (Q1 2024) Holdings 27 stocks · $132.8M Holdings quarter Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 NOTE Fiscalnote Holdings Inc. 28,913,731 $38.5M No change HOLI Hollysys Automation Technolo 1,105,852 $28.3M No change JOYY Joyy Inc.-ADR 292,400 $9.0M No change SOHU Sohu.com Ltd.-ADR 797,557 $8.4M Reduce -0.0% PXD Pioneer Natural Resources Co. 30,000 $7.9M New SIMO Silicon Motion Technol-ADR 93,867 $7.2M Reduce -17.6% TDCX TDCX Inc. 811,751 $5.8M New FUSN Fusion Pharmaceuticals Inc. 150,000 $3.2M New MANU Manchester United PLC Class A 208,666 $2.9M Reduce -26.2% VNET Vnet Group Inc.-ADR 1,853,771 $2.9M Add +15.6% HCVI Hennessy Capital Invest Class A 230,492 $2.4M No change BRC INC-A 500,000 $2.1M New SCRM Screaming Eagle Acq Class A 200,000 $2.1M New ORCL Oracle Corp. 15,700 $2.0M New MAC COPPER LTD filed as METALS ACQUISITION LIMITED 149,036 $1.9M Reduce -19.9% HES Hess Corp. 10,000 $1.5M New PEGR Project Energy Reimagined Ac 118,736 $1.3M No change LEGT.U Legato Merger Corp. III 125,000 $1.3M New USAR USA Rare Earth Inc. filed as INFLECTION PT ACQUISITN CRP 100,000 $1.0M New X United States Steel Corp. 25,000 $1.0M New CLBR.U Colombier Acquis Corp. II 70,000 $730K No change BUD Anheuser-Busch Inbev-SPN ADR 10,000 $608K New NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 50,000 $597K New BSLKW Golden Arrow Merger Corp. 65,048 $13K No change ESLA Estrella Immunopharma Inc. 10,000 $12K No change CENN Cenntro Inc. 141 $0 No change FARADAY FUTURE INTLGT ELEC I 4,554 $0 Reduce -2.9%
Other holdings (9): bonds, preferreds, convertibles and warrants · $2.5M (not counted above) Security Class Shares / Principal Value Change NOTEW Fiscalnote Holdings Inc.-CW25 *W EXP 07/29/202 9,000,000 $2.3M No change METALS ACQUISITION LTD *W EXP 06/15/202 100,000 $206K No change GBGWF Global Blue Group Holding AG *W EXP 08/28/202 407,812 $14K No change PROJECT ENERGY REIMAGINED AC *W EXP 99/99/999 59,368 $9K No change USARW Inflection Point Acquis-C-28 *W EXP 08/31/202 50,000 $7K New HGASW Dune Acq Class A -CW27 *W EXP 12/21/202 109,221 $4K No change TGAWF Target Global Acq I -CW27 *W EXP 12/08/202 66,665 $4K No change VIWWQ View Inc. -CW27 *W EXP 03/08/202 37,233 $0 No change PRENW Prenetics Global Ltd. -CW26 *W EXP 05/18/202 49,015 $0 No change
Total filed on the 13F, all lines: $135.3M.
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ OPA Magnum Opus Acquisition LT-A Sold out 0.00% −3.35 MANU Manchester United PLC Class A Reduce -26.2% 2.19% −2.92 BABA Alibaba Group Holding-SP ADR Sold out 0.00% −1.03 CVII Churchill Capital Corp. Vii-A Sold out 0.00% −0.93 IPXXU Inflection Point Acquisition Sold out 0.00% −0.92 SIMO Silicon Motion Technol-ADR Reduce -17.6% 5.44% −0.75 SOHU Sohu.com Ltd.-ADR Reduce -0.0% 6.35% −0.68 MAC COPPER LTD Reduce -19.9% 1.44% −0.60 FARADAY FUTURE INTLGT ELEC I Reduce -2.9% 0.00% −0.00
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ PXD Pioneer Natural Resources Co. New 5.93% +5.93 TDCX TDCX Inc. New 4.38% +4.38 FUSN Fusion Pharmaceuticals Inc. New 2.41% +2.41 BRC INC-A New 1.61% +1.61 SCRM Screaming Eagle Acq Class A New 1.61% +1.61 ORCL Oracle Corp. New 1.49% +1.49 HES Hess Corp. New 1.15% +1.15 LEGT.U Legato Merger Corp. III New 0.95% +0.95 USAR USA Rare Earth Inc. New 0.79% +0.79 X United States Steel Corp. New 0.77% +0.77 BUD Anheuser-Busch Inbev-SPN ADR New 0.46% +0.46 NU Nu Holdings Ltd./Cayman Isl-A New 0.45% +0.45 VNET Vnet Group Inc.-ADR Add +15.6% 2.16% −1.92
Notes & Other Activity Q4 2023 → Q1 2024 Security Class Change vs Q4 2023 Shares / Principal Value ▼ USARW Inflection Point Acquis-C-28 *W EXP 08/31/202 New 50,000 $7K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q3 2025 30 $59.7M SOHU, NOTE, JOYY, OCFT, OBAWU Q2 2025 15 $55.2M NOTE, SOHU, JOYY, EM, OCFT Q1 2025 17 $64.2M NOTE, SOHU, DADA, JOYY, EM Q4 2024 17 $77.4M NOTE, JOYY, SOHU, VNET, IWM Q3 2024 21 $105.2M NOTE, SOHU, JOYY, FTW.U, VNET Q2 2024 21 $94.3M NOTE, SOHU, JOYY, VNET, MANU Q1 2024 27 $132.8M NOTE, HOLI, JOYY, SOHU, PXD