MY.Alpha Management HK Advisors Ltd
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), MY.Alpha Management HK Advisors Ltd reported 18 stock positions worth $201.0 million. Its top holding was Tal Education Group- ADR (TAL) at 18.0% of the portfolio, followed by PDD (PDD, 11.0%) and Futu Holdings Ltd.-ADR (FUTU, 11.0%). Compared with Q4 2024, it opened 5 new positions, sold out of 4, added to 5 and reduced 8. The biggest buy was Tal Education Group- ADR (TAL, shares +80%) and the biggest sale Joyy Inc.-ADR (JOYY, shares −78%).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001910173
- Portfolio Value
- $201.0M (Q1 2025)
- SEC Filing
- 0001910173-25-000003 ↗ filed May 14, 2025
Holdings Value
Holdings 18 stocks · $201.0M
| TAL Tal Education Group- ADR | 17.97% | 2,734,175 | $36.1M | Add +80.4% |
| PDD PDD Holdings Inc. | 11.03% | 187,300 | $22.2M | Add +7.0% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 10.96% | 215,354 | $22.0M | Reduce -12.3% |
| X United States Steel Corp. | 8.74% | 415,859 | $17.6M | Reduce -54.9% |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 6.35% | 284,119 | $12.8M | Reduce -38.7% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 6.18% | 618,622 | $12.4M | New |
| TSM Taiwan Semiconductor-SP ADR | 5.47% | 66,300 | $11.0M | Reduce -36.2% |
| VNET Vnet Group Inc.-ADR | 5.46% | 1,339,472 | $11.0M | Reduce -60.6% |
| LX Lexinfintech Holdings L-ADR | 4.72% | 941,179 | $9.5M | New |
| ZLAB Zai Lab Ltd.-ADR | 4.30% | 239,146 | $8.6M | New |
| ZH Zhihu Inc. - ADR | 3.60% | 1,693,544 | $7.2M | New |
| NBIS Nebius Group NV | 3.25% | 309,254 | $6.5M | Add +69.4% |
| JD Jd.com Inc.-ADR | 2.83% | 138,300 | $5.7M | Add +0.5% |
| JOYY Joyy Inc.-ADR | 2.66% | 127,427 | $5.3M | Reduce -77.8% |
| API Agora Inc.-ADR | 2.35% | 1,173,703 | $4.7M | Add +59.7% |
| TSLA Tesla Inc. | 1.90% | 14,708 | $3.8M | Reduce -29.3% |
| HSAI Hesai Group | 1.72% | 233,247 | $3.5M | New |
| RBOT Vicarious Surgical Inc. Class A | 0.52% | 157,944 | $1.0M | Reduce -13.4% |
Portfolio Sells Q4 2024 → Q1 2025
| JOYY Joyy Inc.-ADR | Reduce -77.8% | 2.66% | −7.92 |
| MNSO Miniso Group Holding Ltd.-ADR | Sold out | 0.00% | −5.83 |
| X United States Steel Corp. | Reduce -54.9% | 8.74% | −5.03 |
| NTES Netease Inc.-ADR | Sold out | 0.00% | −4.89 |
| ALTM Arcadium Lithium PLC | Sold out | 0.00% | −4.82 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -36.2% | 5.47% | −3.55 |
| GDS GDS Holdings Ltd. - ADR | Sold out | 0.00% | −2.98 |
| TSLA Tesla Inc. | Reduce -29.3% | 1.90% | −1.80 |
| VNET Vnet Group Inc.-ADR | Reduce -60.6% | 5.46% | −1.62 |
| QFIN Qfin Holdings Inc.-ADR | Reduce -38.7% | 6.35% | −1.47 |
| RBOT Vicarious Surgical Inc. Class A | Reduce -13.4% | 0.52% | −0.54 |
| FUTU Futu Holdings Ltd.-ADR | Reduce -12.3% | 10.96% | +2.33 |
Portfolio Buys Q4 2024 → Q1 2025
| TAL Tal Education Group- ADR | Add +80.4% | 17.97% | +11.29 |
| BEKE Ke Holdings Inc.-ADR | New | 6.18% | +6.18 |
| LX Lexinfintech Holdings L-ADR | New | 4.72% | +4.72 |
| ZLAB Zai Lab Ltd.-ADR | New | 4.30% | +4.30 |
| ZH Zhihu Inc. - ADR | New | 3.60% | +3.60 |
| PDD PDD Holdings Inc. | Add +7.0% | 11.03% | +3.56 |
| HSAI Hesai Group | New | 1.72% | +1.72 |
| NBIS Nebius Group NV | Add +69.4% | 3.25% | +1.02 |
| API Agora Inc.-ADR | Add +59.7% | 2.35% | +1.00 |
| JD Jd.com Inc.-ADR | Add +0.5% | 2.83% | +0.73 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 9 | $259.6M | EWY, FUTU, JOYY, ACMR, GDS |
| Q1 2026 | 11 | $245.8M | FUTU, JOYY, GDS, PAYP, TSM |
| Q4 2025Amended | 10 | $186.4M | FUTU, JOYY, SNDK, TSM, BILI |
| Q3 2025 | 11 | $154.5M | FUTU, ZK, JOYY, GDS, TSM |
| Q2 2025 | 15 | $134.7M | TSM, JOYY, ZK, GDS, QFIN |
| Q1 2025 | 18 | $201.0M | TAL, PDD, FUTU, X, QFIN |
| Q4 2024 | 17 | $227.5M | X, JOYY, TSM, FUTU, QFIN |
| Q3 2024 | 14 | $280.3M | PDD, FUTU, X, IQIYI INC, VNET |
| Q2 2024 | 16 | $265.5M | X, PDD, IQIYI INC (IQ 6.5 03/15/28), EDU, FUTU |
| Q1 2024 | 15 | $266.5M | EDU, IQIYI INC (IQ 6.5 03/15/28), PDD, FUTU, NTES |