Oasis Management Co Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Oasis Management Co Ltd. reported 63 stock positions worth $451.6 million. Its top holding was Vail Resorts (MTN) at 33.7% of the portfolio, followed by Vnet Group Inc.-ADR (VNET, 7.9%) and Stratus Properties (STRS, 5.3%). Compared with Q2 2025, it opened 18 new positions, sold out of 9, added to 9 and reduced 9. The biggest buy was a new position in Lexinfintech Holdings L-ADR (LX) and the biggest sale an exit from Advisorshares Pure US Cann (MSOS).
- Most Recent 13F
- Q2 2026
- Location
- GRAND CAYMAN, E9
- CIK
- 0001317904
- Portfolio Value
- $451.6M (Q3 2025)
- SEC Filing
- 0001317904-25-000002 ↗ filed Nov 14, 2025
Holdings Value
Holdings 63 stocks · $451.6M
| MTN Vail Resorts Inc. | 33.71% | 1,017,734 | $152.2M | Add +8.2% |
| VNET Vnet Group Inc.-ADR | 7.89% | 3,449,188 | $35.6M | Reduce -1.1% |
| STRS Stratus Properties Inc. | 5.32% | 1,134,878 | $24.0M | Reduce -0.2% |
| APLD Applied Digital Corp. | 5.25% | 1,032,817 | $23.7M | No change |
| RBA RB Global Inc. | 4.40% | 183,244 | $19.9M | No change |
| RLX RLX Technology Inc.-ADR | 3.70% | 6,346,816 | $16.7M | Add +5.1% |
| TBPH Theravance Biopharma Inc. | 3.62% | 1,118,935 | $16.3M | No change |
| SQNS Sequans Communications-ADR | 2.96% | 1,411,315 | $13.4M | No change |
| HUT Hut 8 Corp. | 2.33% | 302,730 | $10.5M | Reduce -1.6% |
| ATHM Autohome Inc.-ADR | 2.33% | 367,978 | $10.5M | No change |
| ACMR Acm Research Inc. Class A | 2.03% | 233,988 | $9.2M | Reduce -37.9% |
| GCT Gigacloud Technology Inc. Class A | 1.97% | 312,995 | $8.9M | No change |
| EDU New Oriental Educatio-SP ADR | 1.83% | 155,424 | $8.2M | Add +3.3% |
| TAL Tal Education Group- ADR | 1.70% | 686,805 | $7.7M | No change |
| QFIN Qfin Holdings Inc.-ADR | 1.66% | 260,897 | $7.5M | Add +4.7% |
| HTHT H World Group Ltd.-ADR | 1.60% | 184,879 | $7.2M | Reduce -11.9% |
| SE Sea Ltd.-ADR | 1.46% | 37,000 | $6.6M | No change |
| BZ Kanzhun Ltd. - ADR | 1.41% | 272,442 | $6.4M | Add +12.1% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 1.40% | 333,026 | $6.3M | Add +44.8% |
| IQ Iqiyi Inc.-ADR | 1.32% | 2,334,402 | $6.0M | Add +9.4% |
| LX Lexinfintech Holdings L-ADR | 1.31% | 1,111,500 | $5.9M | New |
| JD Jd.com Inc.-ADR | 1.28% | 165,160 | $5.8M | No change |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 1.16% | 30,000 | $5.2M | No change |
| FWRD Forward Air Corp. | 0.98% | 173,432 | $4.4M | New |
| PERF Perfect Corp. | 0.92% | 2,200,623 | $4.1M | Add +6.0% |
| AMAT Applied Materials Inc. | 0.61% | 13,450 | $2.8M | New |
| GHG Greentree Hospitality GR-ADR | 0.54% | 1,099,362 | $2.4M | No change |
| ZK Zeekr Intelligent Techno-ADR | 0.51% | 75,000 | $2.3M | No change |
| SOXX iShares Semiconductor ETF | 0.33% | 5,500 | $1.5M | Reduce -26.7% |
| LITE Lumentum Holdings Inc. | 0.27% | 7,600 | $1.2M | New |
| ZH Zhihu Inc. - ADR | 0.25% | 225,000 | $1.1M | New |
| TER Teradyne Inc. | 0.25% | 8,100 | $1.1M | New |
| DQ Daqo New Energy Corp.-ADR | 0.24% | 37,800 | $1.1M | New |
| HUDSON PAC PPTYS INC | 0.23% | 380,002 | $1.0M | New |
| CSCO Cisco Systems Inc. | 0.23% | 15,000 | $1.0M | New |
| BABA Alibaba Group Holding-SP ADR | 0.22% | 5,500 | $983K | New |
| NVDA Nvidia Corp. | 0.21% | 5,100 | $952K | Reduce -62.6% |
| XCAFX Morgan Stanley China A Share | 0.21% | 56,666 | $943K | Reduce -15.0% |
| HERE Here Group Ltd. filed as QUANTASING GROUP LTD | 0.19% | 93,753 | $846K | Add +33.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.19% | 3,000 | $838K | No change |
| CRDO Credo Technology Group Holdi | 0.15% | 4,800 | $699K | New |
| CMPS Compass Pathways PLC | 0.14% | 107,911 | $618K | No change |
| LESL Leslie's Inc. | 0.13% | 107,470 | $591K | No change |
| API Agora Inc.-ADR | 0.13% | 153,885 | $588K | No change |
| ALAB Astera Labs Inc. | 0.13% | 3,000 | $587K | Reduce -74.4% |
| RIOT Riot Platforms Inc. | 0.13% | 30,100 | $573K | New |
| HTT High Templar Tech Limited filed as QUDIAN INC | 0.12% | 127,875 | $546K | No change |
| NXDR Nextdoor Holdings Inc. | 0.12% | 250,000 | $523K | No change |
| AVR Anteris Technologies Global | 0.11% | 112,207 | $505K | No change |
| YSG Yatsen Holding Ltd.-ADR | 0.11% | 55,000 | $498K | No change |
| TUYA Tuya Inc. | 0.11% | 196,841 | $486K | No change |
| RERE Atrenew Inc. | 0.10% | 100,000 | $460K | New |
| NKE Nike Inc. Class B | 0.08% | 5,118 | $357K | New |
| VIOT Viomi Technology Co. Ltd.-ADR | 0.07% | 100,000 | $334K | New |
| WRD Weride Inc.-ADR | 0.07% | 30,576 | $303K | No change |
| ZEPP Zepp Health Corp.-ADR | 0.06% | 6,025 | $276K | New |
| OLPX Olaplex Holdings Inc. | 0.06% | 196,569 | $258K | No change |
| DECK Deckers Outdoor Corp. | 0.05% | 2,400 | $243K | No change |
| UXIN Uxin Ltd. - ADR | 0.04% | 47,629 | $165K | New |
| ZKH ZKH Group Ltd. | 0.03% | 50,000 | $143K | No change |
| GRNT Granite Ridge Resources Inc. | 0.03% | 25,000 | $135K | No change |
| ABX Abacus Global Management Inc. | 0.03% | 23,000 | $132K | New |
| ALTI Alti Global Inc. | 0.02% | 25,000 | $89K | No change |
Options reported separately and not counted above: ISHARES TR puts ($195.2M), VAIL RESORTS INC calls ($103.5M), INVESCO QQQ TR puts ($78.0M), IONQ INC puts ($43.0M), ISHARES INC puts ($13.8M), HUT 8 CORP calls ($13.7M).
Other holdings (42): bonds, preferreds, convertibles and warrants · $138.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 65,000,000 | $119.4M | New |
| BEYOND MEAT INC (BYND 0 03/15/27) | NOTE 3/1 · principal | 20,000,000 | $4.0M | No change |
| YDESW YD Bio Ltd. -30 | *W EXP 08/28/203 | 100,000 | $1.9M | New |
| DAVEW Dave Inc. -CW27 | *W EXP 01/05/202 | 6,368 | $1.3M | No change |
| LANWF Lanvin Group Holdings Ltd.-27 | *W EXP 01/14/202 | 581,304 | $1.2M | New |
| NIO INC (NIO 3.875 10/15/29) | NOTE 3.875%10/1 · principal | 1,000,000 | $1.1M | No change |
| AFRIW Forafric Global PLC -CW27 | *W EXP 06/09/202 | 100,000 | $869K | New |
| PDYNW Sarcos Technology -CW27 | *W EXP 09/24/202 | 100,000 | $859K | No change |
| CNCKW Coincheck Group NV | *W EXP 12/11/202 | 160,430 | $743K | New |
| AENTW Adara Acquisition Class A -CW26 | *W EXP 02/11/202 | 100,000 | $681K | New |
| NIOBW Niocorp Developments Ltd. -28 | *W EXP 03/17/202 | 100,000 | $668K | No change |
| BBAI.WS Bigbear.ai Holdings -CW28 | *W EXP 12/08/202 | 100,000 | $652K | No change |
| AISPW Airship AI Holdings Inc.-CW28 | *W EXP 12/21/202 | 100,000 | $517K | No change |
| PRENW Prenetics Global Ltd. -CW26 | *W EXP 05/18/202 | 33,333 | $443K | New |
| STLNW Oncology Institute Inc. CW-22 | *W EXP 99/99/999 | 100,000 | $349K | New |
| SATLW Satellogic Inc.-A -23 | *W EXP 01/25/202 | 100,000 | $328K | New |
| ANGHW Anghami Inc. -CW27 | *W EXP 02/03/202 | 100,000 | $295K | New |
| SKYH.WS Yellowstone Acquisit A -CW25 | *W EXP 01/25/202 | 29,439 | $291K | Reduce -54.3% |
| GDEV INC | *W EXP 99/99/999 | 10,000 | $274K | No change |
| PGYWW Pagaya Technologies Ltd. -27 | *W EXP 99/99/999 | 8,333 | $247K | New |
| TMCWW TMC the Metals Co. Inc. -CW25I | *W EXP 09/09/202 | 37,700 | $240K | No change |
| MDAIW Spectral AI -CW27 | *W EXP 09/11/202 | 100,000 | $228K | New |
| RMCOW American Acq Class A -CW26 | *W EXP 10/31/202 | 100,000 | $212K | No change |
| ECXWW Ecarx Holdings Inc. Class A-27 | *W EXP 99/99/999 | 100,000 | $201K | New |
| BAERW Wildfire New Pubco Inc.-27 | *W EXP 01/24/202 | 100,000 | $185K | New |
| ABVWF Above Food Ingredients- 29 | *W EXP 06/28/202 | 100,000 | $174K | No change |
| SDAWW Suncar Technology Group -28 | *W EXP 05/17/202 | 66,890 | $166K | New |
| ARBEW Arbe Robotics Ltd. -CW26 | *W EXP 99/99/999 | 100,000 | $165K | No change |
| CCGWW Cheche Group Inc. - 28 | *W EXP 10/01/203 | 100,000 | $126K | No change |
| DFNSW T3 Defense Inc.-CW28 | *W EXP 12/22/202 | 17,500 | $123K | No change |
| MLECW Moolec Science SA | *W EXP 12/30/202 | 100,000 | $98K | New |
| PERFF Perfect Corp. | *W EXP 10/28/202 | 50,000 | $94K | New |
| VLNWF Valens Semiconductor -CW26 | *W EXP 09/30/202 | 50,000 | $90K | No change |
| COCHW Envoy Medical Inc.-CW27 | *W EXP 09/29/202 | 100,000 | $78K | New |
| CXAIW Kins Tech Group Class A -CW25 | *W EXP 99/99/999 | 100,000 | $74K | No change |
| COOTW Australian Oilseeds Holdi-29 | *W EXP 03/22/202 | 100,000 | $63K | New |
| ILLRW Agba Acquisition Ltd. -CW24 | *W EXP 11/14/202 | 50,000 | $42K | No change |
| CRPWF Carbon Revolution PLC | *W EXP 99/99/999 | 10,000 | $41K | New |
| SLXNW Biomotion Sciences-CW29 | *W EXP 08/15/202 | 11,111 | $38K | New |
| SPWRW Sunpower Inc.-CW27 | *W EXP 07/31/202 | 18,033 | $32K | No change |
| GGROW Gogoro Inc. -CW27 | *W EXP 04/04/202 | 100,000 | $30K | No change |
| BNAIW Brand Engagement Netwo -CW27 | *W EXP 03/14/202 | 100,000 | $29K | No change |
Total filed on the 13F, all lines: $590.2M.
Portfolio Sells Q2 2025 → Q3 2025
| MSOS Advisorshares Pure US Cann | Sold out | 0.00% | −2.38 |
| KT KT Corp.-SP ADR | Sold out | 0.00% | −2.01 |
| SY So-Young International-ADR | Sold out | 0.00% | −1.87 |
| CLS Celestica Inc. | Sold out | 0.00% | −0.92 |
| ACMR Acm Research Inc. Class A | Reduce -37.9% | 2.03% | −0.33 |
| NVDA Nvidia Corp. | Reduce -62.6% | 0.21% | −0.31 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −0.28 |
| GRAB Grab Holdings Ltd. Class A | Sold out | 0.00% | −0.13 |
| ALAB Astera Labs Inc. | Reduce -74.4% | 0.13% | −0.13 |
| HTHT H World Group Ltd.-ADR | Reduce -11.9% | 1.60% | −0.12 |
| SOXX iShares Semiconductor ETF | Reduce -26.7% | 0.33% | −0.10 |
| MESO Mesoblast Ltd.- Spon ADR | Sold out | 0.00% | −0.08 |
| XCAFX Morgan Stanley China A Share | Reduce -15.0% | 0.21% | −0.01 |
| BOQII HLDG LTD | Sold out | 0.00% | −0.01 |
| NOTE Fiscalnote Holdings Inc. | Sold out | 0.00% | −0.00 |
| STRS Stratus Properties Inc. | Reduce -0.2% | 5.32% | +0.14 |
| HUT Hut 8 Corp. | Reduce -1.6% | 2.33% | +0.95 |
| VNET Vnet Group Inc.-ADR | Reduce -1.1% | 7.89% | +2.08 |
Portfolio Buys Q2 2025 → Q3 2025
| LX Lexinfintech Holdings L-ADR | New | 1.31% | +1.31 |
| FWRD Forward Air Corp. | New | 0.98% | +0.98 |
| AMAT Applied Materials Inc. | New | 0.61% | +0.61 |
| RLX RLX Technology Inc.-ADR | Add +5.1% | 3.70% | +0.48 |
| BEKE Ke Holdings Inc.-ADR | Add +44.8% | 1.40% | +0.42 |
| IQ Iqiyi Inc.-ADR | Add +9.4% | 1.32% | +0.41 |
| BZ Kanzhun Ltd. - ADR | Add +12.1% | 1.41% | +0.36 |
| LITE Lumentum Holdings Inc. | New | 0.27% | +0.27 |
| ZH Zhihu Inc. - ADR | New | 0.25% | +0.25 |
| TER Teradyne Inc. | New | 0.25% | +0.25 |
| DQ Daqo New Energy Corp.-ADR | New | 0.24% | +0.24 |
| HUDSON PAC PPTYS INC | New | 0.23% | +0.23 |
| CSCO Cisco Systems Inc. | New | 0.23% | +0.23 |
| BABA Alibaba Group Holding-SP ADR | New | 0.22% | +0.22 |
| CRDO Credo Technology Group Holdi | New | 0.15% | +0.15 |
| RIOT Riot Platforms Inc. | New | 0.13% | +0.13 |
| RERE Atrenew Inc. | New | 0.10% | +0.10 |
| NKE Nike Inc. Class B | New | 0.08% | +0.08 |
| VIOT Viomi Technology Co. Ltd.-ADR | New | 0.07% | +0.07 |
| ZEPP Zepp Health Corp.-ADR | New | 0.06% | +0.06 |
| UXIN Uxin Ltd. - ADR | New | 0.04% | +0.04 |
| ABX Abacus Global Management Inc. | New | 0.03% | +0.03 |
| HERE Here Group Ltd. | Add +33.9% | 0.19% | +0.03 |
| EDU New Oriental Educatio-SP ADR | Add +3.3% | 1.83% | −0.13 |
| PERF Perfect Corp. | Add +6.0% | 0.92% | −0.24 |
| QFIN Qfin Holdings Inc.-ADR | Add +4.7% | 1.66% | −0.95 |
| MTN Vail Resorts Inc. | Add +8.2% | 33.71% | −1.98 |
Options Activity Q2 2025 → Q3 2025
| IWM iShares Russell 2000 ETF | put | Sold out | 1,100,000 | $237.4Mbefore exit |
| ISHARES TR | put | New | 806,800 | $195.2M |
| VAIL RESORTS INC | call | New | 692,000 | $103.5M |
| MTN Vail Resorts Inc. | call | Sold out | 576,200 | $90.5Mbefore exit |
| INVESCO QQQ TR | put | New | 130,000 | $78.0M |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 100,000 | $55.2Mbefore exit |
| IONQ INC | put | New | 700,000 | $43.0M |
| IBIT iShares Bitcoin Trust ETF | put | Sold out | 400,000 | $24.5Mbefore exit |
| USO United States Oil Fund LP | call | Sold out | 300,000 | $21.9Mbefore exit |
| ISHARES INC | put | New | 172,500 | $13.8M |
| HUT 8 CORP | call | New | 393,300 | $13.7M |
| EWY iShares MSCI South Korea ETF | put | Sold out | 172,500 | $12.4Mbefore exit |
| HIMS Hims & Hers Health Inc. | put | Sold out | 110,100 | $5.5Mbefore exit |
| SATLW Satellogic Inc.-A -23 | call | Sold out | 100,000 | $362Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | New | 65,000,000 | $119.4M |
| NIO INC (NIO 4.625 10/15/30) | NOTE 4.625%10/1 · principal | Sold out | 4,000,000 | $2.6Mbefore exit |
| YDESW YD Bio Ltd. -30 | *W EXP 08/28/203 | New | 100,000 | $1.9M |
| LANWF Lanvin Group Holdings Ltd.-27 | *W EXP 01/14/202 | New | 581,304 | $1.2M |
| AFRIW Forafric Global PLC -CW27 | *W EXP 06/09/202 | New | 100,000 | $869K |
| CNCKW Coincheck Group NV | *W EXP 12/11/202 | New | 160,430 | $743K |
| AENTW Adara Acquisition Class A -CW26 | *W EXP 02/11/202 | New | 100,000 | $681K |
| ABLLW East Resources Acquis -CW27 | *W EXP 06/30/202 | Sold out | 100,000 | $514Kbefore exit |
| PRENW Prenetics Global Ltd. -CW26 | *W EXP 05/18/202 | New | 33,333 | $443K |
| STLNW Oncology Institute Inc. CW-22 | *W EXP 99/99/999 | New | 100,000 | $349K |
| SATLW Satellogic Inc.-A -23 | *W EXP 01/25/202 | New | 100,000 | $328K |
| ANGHW Anghami Inc. -CW27 | *W EXP 02/03/202 | New | 100,000 | $295K |
| SKYH.WS Yellowstone Acquisit A -CW25 | *W EXP 01/25/202 | Reduce -54.3% | 29,439 | $291K |
| PGYWW Pagaya Technologies Ltd. -27 | *W EXP 99/99/999 | New | 8,333 | $247K |
| MDAIW Spectral AI -CW27 | *W EXP 09/11/202 | New | 100,000 | $228K |
| ECXWW Ecarx Holdings Inc. Class A-27 | *W EXP 99/99/999 | New | 100,000 | $201K |
| BAERW Wildfire New Pubco Inc.-27 | *W EXP 01/24/202 | New | 100,000 | $185K |
| SDAWW Suncar Technology Group -28 | *W EXP 05/17/202 | New | 66,890 | $166K |
| MLECW Moolec Science SA | *W EXP 12/30/202 | New | 100,000 | $98K |
| PERFF Perfect Corp. | *W EXP 10/28/202 | New | 50,000 | $94K |
| COCHW Envoy Medical Inc.-CW27 | *W EXP 09/29/202 | New | 100,000 | $78K |
| COOTW Australian Oilseeds Holdi-29 | *W EXP 03/22/202 | New | 100,000 | $63K |
| CRPWF Carbon Revolution PLC | *W EXP 99/99/999 | New | 10,000 | $41K |
| SLXNW Biomotion Sciences-CW29 | *W EXP 08/15/202 | New | 11,111 | $38K |
| CGBWF Crown LNG Holdings Ltd.-28 | *W EXP 07/09/202 | Sold out | 100,000 | $7Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 65 | $848.3M | MTN, APLD, ACMR, HUT, CORZ |
| Q1 2026 | 63 | $727.4M | MTN, HUT, VNET, CORZ, STRS |
| Q4 2025 | 58 | $652.2M | MTN, HUT, CORZ, VNET, STRS |
| Q3 2025 | 63 | $451.6M | MTN, VNET, STRS, APLD, RBA |
| Q2 2025 | 54 | $414.3M | MTN, VNET, STRS, SQNS, RBA |
| Q1 2025 | 51 | $291.5M | APLD, VNET, STRS, RBA, NBIS |
| Q4 2024 | 46 | $285.6M | APLD, NBIS, LB, RBA, VNET |
| Q3 2024 | 38 | $263.7M | APLD, STRS, RBA, VNET, ATHM |
| Q2 2024 | 35 | $294.6M | HOLI, APLD, STRS, RBA, DOYU |
| Q1 2024Amended | 31 | $275.9M | HOLI, STRS, APLD, RBA, IQ |