Panview Capital Ltd
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 7, 2025), Panview Capital Ltd reported 8 stock positions worth $264.1 million. Its top holding was AppLovin Class A (APP) at 26.3% of the portfolio, followed by Vaneck Gold Miners ETF (GDX, 13.5%) and Vaneck Junior Gold Miners (GDXJ, 13.3%). Compared with Q4 2024, it opened 1 new position, sold out of 3, added to 2 and reduced 5. The biggest buy was a new position in Qfin Holdings Inc.-ADR (QFIN) and the biggest sale AppLovin Class A (APP, shares −60%).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0002035224
- Portfolio Value
- $264.1M (Q1 2025)
- SEC Filing
- 0002035224-25-000018 ↗ filed May 7, 2025
Holdings Value
Holdings 8 stocks · $264.1M
| APP AppLovin Corp. Class A | 26.31% | 262,218 | $69.5M | Reduce -60.3% |
| GDX Vaneck Gold Miners ETF | 13.51% | 776,300 | $35.7M | Reduce -7.4% |
| GDXJ Vaneck Junior Gold Miners | 13.26% | 612,200 | $35.0M | Reduce -11.3% |
| GOOG Alphabet Inc. Class C | 13.18% | 222,774 | $34.8M | Add +6.6% |
| DECK Deckers Outdoor Corp. | 10.96% | 258,900 | $28.9M | Reduce -8.8% |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 9.44% | 555,000 | $24.9M | New |
| PDD PDD Holdings Inc. | 7.20% | 160,700 | $19.0M | Reduce -30.3% |
| CVE Cenovus Energy Inc. | 6.14% | 1,165,000 | $16.2M | Add +5.4% |
Portfolio Sells Q4 2024 → Q1 2025
| APP AppLovin Corp. Class A | Reduce -60.3% | 26.31% | −19.36 |
| EDU New Oriental Educatio-SP ADR | Sold out | 0.00% | −5.84 |
| ACMR Acm Research Inc. Class A | Sold out | 0.00% | −4.43 |
| SU Suncor Energy Inc. | Sold out | 0.00% | −2.58 |
| DECK Deckers Outdoor Corp. | Reduce -8.8% | 10.96% | −1.34 |
| PDD PDD Holdings Inc. | Reduce -30.3% | 7.20% | +2.43 |
| GDXJ Vaneck Junior Gold Miners | Reduce -11.3% | 13.26% | +6.97 |
| GDX Vaneck Gold Miners ETF | Reduce -7.4% | 13.51% | +7.45 |
Portfolio Buys Q4 2024 → Q1 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 14 | $568.0M | APP, CRWV, NOK, NVDA, GDX |
| Q1 2026 | 12 | $467.2M | APP, CRWV, NVDA, NOK, GDX |
| Q4 2025 | 9 | $278.5M | APP, GDX, GDXJ, VEON, EQT |
| Q3 2025 | 9 | $235.1M | APP, GDXJ, GDX, VEON, PDD |
| Q2 2025 | 9 | $314.3M | APP, GDXJ, GDX, QFIN, GOOG |
| Q1 2025 | 8 | $264.1M | APP, GDX, GDXJ, GOOG, DECK |
| Q4 2024 | 10 | $468.8M | APP, DECK, GOOG, GDXJ, GDX |