OLP CAPITAL MANAGEMENT Ltd

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), OLP CAPITAL MANAGEMENT Ltd reported 3 stock positions worth $513.2 million. Its top holding was Atour Lifestyle Holdings-ADR (ATAT) at 66.5% of the portfolio, followed by Full Truck Alliance -SPN ADR (YMM, 31.4%) and Joyy Inc.-ADR (JOYY, 2.2%). Compared with Q3 2025, it sold out of 2, added to 2 and reduced 1. The biggest buy was Full Truck Alliance -SPN ADR (YMM, shares +199%) and the biggest sale an exit from Qfin Holdings Inc.-ADR (QFIN).

Most Recent 13F
Q2 2026
Location
CAUSEWAY BAY, K3
CIK
0001738126
Portfolio Value
$513.2M (Q4 2025)
SEC Filing
0001738126-26-000002 ↗ filed Feb 13, 2026

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 Q1 2025 Q2 2025: $773.4M Q2 2025 Q3 2025: $566.8M Q3 2025 Q4 2025: $513.2M $513.2M Q4 2025 Q1 2026: $482.4M Q1 2026 Q2 2026: $400.0M Q2 2026

Holdings 3 stocks · $513.2M
ATAT Atour Lifestyle Holdings-ADR 66.46% 8,656,494 $341.1M Add +1.6%
YMM Full Truck Alliance -SPN ADR 31.38% 15,007,851 $161.0M Add +198.7%
JOYY Joyy Inc.-ADR 2.16% 170,866 $11.1M Reduce -70.6%

Portfolio Sells Q3 2025 → Q4 2025
QFIN Qfin Holdings Inc.-ADR Sold out 0.00% −25.45
JOYY Joyy Inc.-ADR Reduce -70.6% 2.16% −3.85
YALA Yalla Group Ltd. Sold out 0.00% −0.51

Portfolio Buys Q3 2025 → Q4 2025
YMM Full Truck Alliance -SPN ADR Add +198.7% 31.38% +19.88
ATAT Atour Lifestyle Holdings-ADR Add +1.6% 66.46% +9.92

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