OLP CAPITAL MANAGEMENT Ltd

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), OLP CAPITAL MANAGEMENT Ltd reported 4 stock positions worth $770.4 million. Its top holding was Qfin Holdings Inc.-ADR (QFIN) at 38.3% of the portfolio, followed by Atour Lifestyle Holdings-ADR (ATAT, 27.3%) and Full Truck Alliance -SPN ADR (YMM, 26.0%). Compared with Q4 2024, it sold out of 3, added to 2 and reduced 1. The biggest buy was Atour Lifestyle Holdings-ADR (ATAT, shares +3%) and the biggest sale an exit from New Oriental Educatio-SP ADR (EDU).

Most Recent 13F
Q2 2026
Location
CAUSEWAY BAY, K3
CIK
0001738126
Portfolio Value
$770.4M (Q1 2025)
SEC Filing
0001085146-25-003175 ↗ filed May 15, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $623.7M Q1 2024 Q2 2024: $667.9M Q2 2024 Q3 2024: $669.3M Q3 2024 Q4 2024: $790.3M Q4 2024 Q1 2025: $770.4M $770.4M Q1 2025 Q2 2025: $773.4M Q2 2025 Q3 2025: $566.8M Q3 2025 Q4 2025: $513.2M Q4 2025 Q1 2026: $482.4M Q1 2026 Q2 2026: $400.0M Q2 2026

Holdings 4 stocks · $770.4M
QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC 38.33% 6,575,120 $295.3M Reduce -13.2%
ATAT Atour Lifestyle Holdings-ADR 27.29% 7,416,206 $210.2M Add +3.0%
YMM Full Truck Alliance -SPN ADR 26.03% 15,705,344 $200.6M No change
JOYY Joyy Inc.-ADR 8.35% 1,531,965 $64.3M Add +10.8%

Portfolio Sells Q4 2024 → Q1 2025
EDU New Oriental Educatio-SP ADR Sold out 0.00% −7.50
TME Tencent Music Entertainm-ADR Sold out 0.00% −2.29
HEPS D-Market Electronic Serv-ADR Sold out 0.00% −0.09
QFIN Qfin Holdings Inc.-ADR Reduce -13.2% 38.33% +1.53

Portfolio Buys Q4 2024 → Q1 2025
ATAT Atour Lifestyle Holdings-ADR Add +3.0% 27.29% +2.79
JOYY Joyy Inc.-ADR Add +10.8% 8.35% +1.03

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 6$400.0MATAT, YMM, RLX, HUYA, PSIX
Q1 2026Amended 5$482.4MATAT, YMM, HUYA, RLX, PURR
Q4 2025 3$513.2MATAT, YMM, JOYY
Q3 2025 5$566.8MATAT, QFIN, YMM, JOYY, YALA
Q2 2025 4$773.4MQFIN, ATAT, YMM, JOYY
Q1 2025 4$770.4MQFIN, ATAT, YMM, JOYY
Q4 2024 7$790.3MQFIN, ATAT, YMM, EDU, JOYY
Q3 2024 6$669.3MQFIN, ATAT, YMM, TME, EDU
Q2 2024 5$667.9MPDD, QFIN, NTES, YMM, ATAT
Q1 2024 4$623.7MPDD, QFIN, NTES, ATAT