Oxbow Capital Management (HK) Ltd

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Oxbow Capital Management (HK) Ltd reported 9 stock positions worth $281.8 million. Its top holding was Nvidia (NVDA) at 21.7% of the portfolio, followed by Icici Bank Ltd.-Spon ADR (IBN, 17.8%) and Trip.com Group Ltd.-ADR (TCOM, 15.3%). Compared with Q3 2024, it opened 3 new positions, sold out of 3, added to 3 and reduced 3. The biggest buy was a new position in Amer Sports (AS) and the biggest sale an exit from PDD (PDD).

Most Recent 13F
Q2 2026
Location
HONG KONG, K3
CIK
0001713269
Portfolio Value
$281.8M (Q4 2024)
SEC Filing
0001713269-25-000002 ↗ filed Feb 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $250.4M Q1 2024 Q2 2024: $295.8M Q2 2024 Q3 2024: $234.6M Q3 2024 Q4 2024: $281.8M $281.8M Q4 2024 Q1 2025: $318.5M Q1 2025 Q2 2025: $395.0M Q2 2025 Q3 2025: $570.8M Q3 2025 Q4 2025: $360.4M Q4 2025 Q1 2026: $371.0M Q1 2026 Q2 2026: $354.8M Q2 2026

Holdings 9 stocks · $281.8M
NVDA Nvidia Corp. 21.70% 455,389 $61.2M Add +35.9%
IBN Icici Bank Ltd.-Spon ADR 17.82% 1,681,262 $50.2M Reduce -0.8%
TCOM Trip.com Group Ltd.-ADR 15.32% 628,856 $43.2M Add +39.8%
AS Amer Sports Inc. 14.88% 1,500,000 $41.9M New
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 10.46% 1,600,000 $29.5M Add +143.2%
MMYT Makemytrip Ltd. 7.11% 178,515 $20.0M Reduce -0.8%
NXE Nexgen Energy Ltd. 6.01% 2,566,355 $16.9M Reduce -0.8%
BIRK Birkenstock Holding PLC 3.56% 177,000 $10.0M New
TER Teradyne Inc. 3.13% 70,000 $8.8M New

Portfolio Sells Q3 2024 → Q4 2024
PDD PDD Holdings Inc. Sold out 0.00% −14.20
CCJ Cameco Corp. Sold out 0.00% −13.03
IBN Icici Bank Ltd.-Spon ADR Reduce -0.8% 17.82% −3.76
BE Bloom Energy Corp. Class A Sold out 0.00% −2.53
NXE Nexgen Energy Ltd. Reduce -0.8% 6.01% −1.19
MMYT Makemytrip Ltd. Reduce -0.8% 7.11% −0.02

Portfolio Buys Q3 2024 → Q4 2024
AS Amer Sports Inc. New 14.88% +14.88
BEKE Ke Holdings Inc.-ADR Add +143.2% 10.46% +4.87
NVDA Nvidia Corp. Add +35.9% 21.70% +4.36
TCOM Trip.com Group Ltd.-ADR Add +39.8% 15.32% +3.92
BIRK Birkenstock Holding PLC New 3.56% +3.56
TER Teradyne Inc. New 3.13% +3.13

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 4$354.8MCOHR, SNDK, HBM, ALM
Q1 2026 6$371.0MSNDK, COHR, STX, AA, ACMR
Q4 2025 8$360.4MSTX, AVGO, SNDK, CRDO, AA
Q3 2025 11$570.8MSTX, CRDO, AVGO, VNET, WWW
Q2 2025 11$395.0MCOHR, AVGO, AS, CRDO, SN
Q1 2025 10$318.5MIBN, AS, SN, AVGO, TCOM
Q4 2024 9$281.8MNVDA, IBN, TCOM, AS, BEKE
Q3 2024 9$234.6MIBN, NVDA, PDD, CCJ, TCOM
Q2 2024 8$295.8MNVDA, PDD, IBN, CCJ, NXE
Q1 2024 6$250.4MNVDA, CCJ, IBN, PDD, NTES