Panview Capital Ltd
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Panview Capital Ltd reported 9 stock positions worth $235.1 million. Its top holding was AppLovin Class A (APP) at 23.1% of the portfolio, followed by Vaneck Junior Gold Miners (GDXJ, 22.7%) and Vaneck Gold Miners ETF (GDX, 21.1%). Compared with Q2 2025, it opened 4 new positions, sold out of 4 and reduced 5. The biggest buy was a new position in Veon (VEON) and the biggest sale an exit from Qfin Holdings Inc.-ADR (QFIN).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0002035224
- Portfolio Value
- $235.1M (Q3 2025)
- SEC Filing
- 0002035224-25-000022 ↗ filed Nov 13, 2025
Holdings Value
Holdings 9 stocks · $235.1M
| APP AppLovin Corp. Class A | 23.13% | 75,681 | $54.4M | Reduce -70.3% |
| GDXJ Vaneck Junior Gold Miners | 22.67% | 538,200 | $53.3M | Reduce -17.0% |
| GDX Vaneck Gold Miners ETF | 21.07% | 648,300 | $49.5M | Reduce -15.6% |
| VEON Veon Ltd. | 9.56% | 413,021 | $22.5M | New |
| PDD PDD Holdings Inc. | 7.03% | 125,000 | $16.5M | Reduce -46.0% |
| EQT Eqt Corp. | 5.79% | 250,000 | $13.6M | New |
| DOLE Dole PLC | 4.00% | 700,000 | $9.4M | New |
| GOOG Alphabet Inc. Class C | 3.91% | 37,774 | $9.2M | Reduce -78.1% |
| TME Tencent Music Entertainm-ADR | 2.83% | 285,000 | $6.7M | New |
Portfolio Sells Q2 2025 → Q3 2025
| QFIN Qfin Holdings Inc.-ADR | Sold out | 0.00% | −12.67 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −6.82 |
| CVE Cenovus Energy Inc. | Sold out | 0.00% | −5.86 |
| GOOG Alphabet Inc. Class C | Reduce -78.1% | 3.91% | −5.84 |
| APP AppLovin Corp. Class A | Reduce -70.3% | 23.13% | −5.30 |
| VAL Valaris Ltd. | Sold out | 0.00% | −2.08 |
| PDD PDD Holdings Inc. | Reduce -46.0% | 7.03% | −0.69 |
| GDX Vaneck Gold Miners ETF | Reduce -15.6% | 21.07% | +8.34 |
| GDXJ Vaneck Junior Gold Miners | Reduce -17.0% | 22.67% | +8.73 |
Portfolio Buys Q2 2025 → Q3 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 |