MASO CAPITAL PARTNERS Ltd In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 4, 2024), MASO CAPITAL PARTNERS Ltd reported 21 stock positions worth $105.2 million . Its top holding was Fiscalnote (NOTE) at 35.5% of the portfolio, followed by Sohu.com Ltd.-ADR (SOHU, 13.3% ) and Joyy Inc.-ADR (JOYY, 11.1% ). Compared with Q2 2024, it opened 11 new positions, sold out of 11, added to 1 and reduced 2. The biggest buy was a new position in Eqv Ventures Acquisition Cor (FTW.U) and the biggest sale an exit from Manchester United Class A (MANU).
Location HONG KONG, K3
CIK 0001698093
Portfolio Value $105.2M (Q3 2024) Holdings 21 stocks · $105.2M 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 Q2 2024 NOTE Fiscalnote Holdings Inc. 29,164,371 $37.3M Add +0.9% SOHU Sohu.com Ltd.-ADR 887,782 $14.0M No change JOYY Joyy Inc.-ADR 322,400 $11.7M No change FTW.U Eqv Ventures Acquisition Cor 800,000 $7.9M New VNET Vnet Group Inc.-ADR 1,853,771 $7.6M No change POLEU Andretti Acquisition Corp. II 750,000 $7.5M New SIMA Sim Acquisition Corp. I-A 350,000 $3.5M New IWM iShares Russell 2000 ETF 13,600 $3.0M New BSIIU Black Spade Acquisition II C 200,000 $2.0M New BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 100,000 $2.0M New PGRU Propertyguru Group Ltd. 289,625 $1.9M New ORCL Oracle Corp. 8,000 $1.4M Reduce -49.0% HES Hess Corp. 10,000 $1.4M No change LEGN Legend Biotech Corp.-ADR 25,000 $1.2M New BRC INC-A 284,999 $975K Reduce -36.7% TCOM Trip.com Group Ltd.-ADR 15,000 $891K New X United States Steel Corp. 25,000 $883K No change NIPG Nip Group Inc. 16,666 $130K New ESLA Estrella Immunopharma Inc. 10,000 $12K No change FARADAY FUTURE INTLGT ELEC I 113 $324 New CENN Cenntro Inc. 141 $165 No change
Other holdings (15): bonds, preferreds, convertibles and warrants · $1.5M (not counted above) Security Class Shares / Principal Value Change NOTEW Fiscalnote Holdings Inc.-CW25 *W EXP 07/29/202 9,000,000 $1.4M No change SIMAW Sim Acquisition Corp. - 29 *W EXP 06/01/203 500,000 $45K New GBGWF Global Blue Group Holding AG *W EXP 08/28/202 407,812 $34K No change TONT.WS Graf Global Corp.- 29 *W EXP 05/31/203 125,000 $19K No change MACIW Melar Acquisition Corp. I -29 *W EXP 06/01/203 162,500 $15K New USARW Inflection Point Acquis-C-28 *W EXP 08/31/202 50,000 $12K No change LEGT.WS Legato Merger Corp. III-29 *W EXP 05/08/203 62,500 $9K New EURKR Eureka Acquisition Corp.-RTS RIGHT 07/03/2026 40,000 $8K New Colombier Acquisition - 29 *W EXP 11/24/202 23,333 $7K No change CHEB.WS Chenghe Acquisition II - 29 *W EXP 05/30/203 100,000 $7K New PITWF Heramba Electric PLC-28 *W EXP 07/26/202 59,368 $6K New TGAWF Target Global Acq I -CW27 *W EXP 12/08/202 66,665 $5K No change LPAAW Launch One Acquisition - 29 *W EXP 06/01/203 50,000 $4K New BSLKW Golden Arrow Merger A -CW26 *W EXP 08/13/202 65,048 $4K New PRENW Prenetics Global Ltd. -CW26 *W EXP 05/18/202 49,015 $529 No change
Total filed on the 13F, all lines: $106.8M.
Portfolio Sells Q2 2024 → Q3 2024 Portfolio Sells quarter Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▲ MANU Manchester United PLC Class A Sold out 0.00% −3.57 MACIU Melar Acquisition Corp. I Sold out 0.00% −3.45 TONT.U Graf Global Corp. Sold out 0.00% −2.65 HCVI Hennessy Capital Invest Class A Sold out 0.00% −2.58 IP International Paper Co. Sold out 0.00% −2.29 CHEB.U Chenghe Acquisition II Co. Sold out 0.00% −2.12 BRC INC-A Reduce -36.7% 0.93% −2.00 LEGT.U Legato Merger Corp. III Sold out 0.00% −1.35 USAR USA Rare Earth Inc. Sold out 0.00% −1.12 ORCL Oracle Corp. Reduce -49.0% 1.30% −1.05 COLOMBIER ACQUISITION CORP Sold out 0.00% −0.76 BSLKW Golden Arrow Merger Corp. Sold out 0.00% −0.01 FARADAY FUTURE INTLGT ELEC I Sold out 0.00% −0.00
Portfolio Buys Q2 2024 → Q3 2024 Portfolio Buys quarter Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▼ FTW.U Eqv Ventures Acquisition Cor New 7.55% +7.55 POLEU Andretti Acquisition Corp. II New 7.13% +7.13 SIMA Sim Acquisition Corp. I-A New 3.32% +3.32 IWM iShares Russell 2000 ETF New 2.85% +2.85 BSIIU Black Spade Acquisition II C New 1.89% +1.89 BEKE Ke Holdings Inc.-ADR New 1.89% +1.89 PGRU Propertyguru Group Ltd. New 1.82% +1.82 LEGN Legend Biotech Corp.-ADR New 1.16% +1.16 TCOM Trip.com Group Ltd.-ADR New 0.85% +0.85 NIPG Nip Group Inc. New 0.12% +0.12 FARADAY FUTURE INTLGT ELEC I New 0.00% +0.00 NOTE Fiscalnote Holdings Inc. Add +0.9% 35.47% −9.27
Notes & Other Activity Q2 2024 → Q3 2024 Security Class Change vs Q2 2024 Shares / Principal Value ▼ SIMAW Sim Acquisition Corp. - 29 *W EXP 06/01/203 New 500,000 $45K MACIW Melar Acquisition Corp. I -29 *W EXP 06/01/203 New 162,500 $15K LEGT.WS Legato Merger Corp. III-29 *W EXP 05/08/203 New 62,500 $9K EURKR Eureka Acquisition Corp.-RTS RIGHT 07/03/2026 New 40,000 $8K CHEB.WS Chenghe Acquisition II - 29 *W EXP 05/30/203 New 100,000 $7K PITWF Heramba Electric PLC-28 *W EXP 07/26/202 New 59,368 $6K PROJECT ENERGY REIMAGINED AC *W EXP 99/99/999 Sold out 59,368 $5Kbefore exit LPAAW Launch One Acquisition - 29 *W EXP 06/01/203 New 50,000 $4K BSLKW Golden Arrow Merger A -CW26 *W EXP 08/13/202 New 65,048 $4K
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