Ping Capital Management, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 5, 2025), Ping Capital Management, Inc. reported 65 stock positions worth $149.9 million. Its top holding was YPF S.A.-Sponsored ADR (YPF) at 18.3% of the portfolio, followed by Grupo Financiero Galicia-ADR (GGAL, 13.8%) and Kranesh Csi China Internet (KWEB, 10.8%). Compared with Q4 2024, it opened 14 new positions, sold out of 6, added to 29 and reduced 15. The biggest buy was Kranesh Csi China Internet (KWEB, shares +20%) and the biggest sale YPF S.A.-Sponsored ADR (YPF, shares −62%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001804352
- Portfolio Value
- $149.9M (Q1 2025)
- SEC Filing
- 0001804352-25-000002 ↗ filed May 5, 2025
Holdings Value
Holdings 65 stocks · $149.9M
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 18.34% | 784,600 | $27.5M | Reduce -62.5% |
| GGAL Grupo Financiero Galicia-ADR | 13.85% | 381,159 | $20.8M | Reduce -51.2% |
| KWEB Kranesh Csi China Internet | 10.75% | 461,800 | $16.1M | Add +20.4% |
| BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A | 8.46% | 700,300 | $12.7M | Reduce -37.5% |
| BMA Banco Macro SA-ADR | 6.56% | 130,304 | $9.8M | Reduce -31.3% |
| QQQ Invesco QQQ Trust Series 1 | 5.41% | 17,300 | $8.1M | Add +31.1% |
| FXI iShares China Large-Cap ETF | 3.66% | 153,000 | $5.5M | Reduce -6.7% |
| EWZ iShares MSCI Brazil ETF | 3.21% | 186,000 | $4.8M | Add +21.6% |
| PAM Pampa Energia SA-Spon ADR | 2.24% | 43,567 | $3.4M | Add +451.5% |
| CRESY Cresud S.A.-Spons ADR | 1.18% | 160,500 | $1.8M | Add +10.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.16% | 3,100 | $1.7M | Add +29.2% |
| IWM iShares Russell 2000 ETF | 1.14% | 8,600 | $1.7M | Add +7.5% |
| SUPV Grupo Supervielle SA-SP ADR | 1.05% | 121,000 | $1.6M | Reduce -66.3% |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.98% | 134,000 | $1.5M | Add +32.7% |
| TGS Transportador Gas-ADR SP B | 0.96% | 54,200 | $1.4M | Add +39.7% |
| VIST Vista Energy Sab DE CV | 0.93% | 30,100 | $1.4M | New |
| XOP SS SPDR S&P Og Exp & Prod | 0.88% | 10,000 | $1.3M | No change |
| BIDU Baidu Inc. - Spon ADR | 0.87% | 14,200 | $1.3M | Add +42.0% |
| LI Li Auto Inc. - ADR | 0.86% | 51,400 | $1.3M | Add +86.9% |
| OXY Occidental Petroleum Corp. | 0.82% | 25,000 | $1.2M | Add +66.7% |
| CHAU DD Csi 300 CH A SB 2X ETF-US | 0.81% | 85,000 | $1.2M | New |
| PBR Petroleo Brasileiro-Spon ADR | 0.80% | 84,000 | $1.2M | Add +5.0% |
| EWW iShares MSCI Mexico ETF | 0.80% | 23,500 | $1.2M | Add +23.0% |
| IRS Irsa -SP ADR filed as IRSA INVERSIONES Y REP S A | 0.78% | 90,200 | $1.2M | Add +40.9% |
| AGRO Adecoagro SA | 0.77% | 103,500 | $1.2M | Reduce -1.4% |
| PDD PDD Holdings Inc. | 0.71% | 9,000 | $1.1M | Reduce -8.2% |
| CEPU Central Puerto-Sponsored ADR | 0.68% | 92,000 | $1.0M | Add +7.0% |
| IBB iShares Biotechnology ETF | 0.60% | 7,000 | $895K | No change |
| BA The Boeing Co. | 0.57% | 5,000 | $853K | No change |
| APA Apa Corp. | 0.53% | 38,000 | $799K | Add +280.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.53% | 8,000 | $790K | Add +128.6% |
| EDN Emp Distrib Y Comerc Nor-ADR filed as EMPRESA DIST Y COMERCIAL NOR | 0.52% | 25,400 | $776K | Reduce -10.6% |
| BILI Bilibili Inc.-Sponsored ADR | 0.51% | 40,000 | $764K | Add +14.3% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 0.50% | 37,000 | $743K | Add +15.6% |
| VALE Vale SA-SP ADR | 0.45% | 68,000 | $679K | Reduce -8.1% |
| MCD McDonald's Corp. | 0.44% | 2,100 | $656K | Add +5.0% |
| GOOGL Alphabet Inc. Class A | 0.42% | 4,100 | $634K | New |
| VIPS Vipshop Holdings Ltd. - ADR | 0.42% | 40,000 | $627K | No change |
| CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A | 0.41% | 34,000 | $622K | Add +17.2% |
| BABA Alibaba Group Holding-SP ADR | 0.35% | 4,000 | $529K | Reduce -80.0% |
| ALB Albemarle Corp. | 0.35% | 7,300 | $526K | Add +108.6% |
| JD Jd.com Inc.-ADR | 0.33% | 12,000 | $493K | Reduce -57.1% |
| XBI SS SPDR S&P Biotech ETF | 0.31% | 5,700 | $462K | Add +90.0% |
| MSFT Microsoft Corp. | 0.30% | 1,200 | $450K | Add +100.0% |
| PFE Pfizer Inc. | 0.25% | 15,000 | $380K | No change |
| EC Ecopetrol SA-Sponsored ADR | 0.25% | 36,000 | $376K | Reduce -40.0% |
| TMF Dir DLY 20+YR TR BL3X ETF-Ui | 0.25% | 8,500 | $374K | New |
| TSLA Tesla Inc. | 0.24% | 1,400 | $363K | Reduce -17.6% |
| ARKG ARK Genomic Revolution ETF | 0.24% | 17,000 | $353K | Add +13.3% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.22% | 32,300 | $331K | New |
| CAT Caterpillar Inc. | 0.22% | 1,000 | $330K | New |
| ZTO Zto Express Cayman Inc.-ADR | 0.21% | 16,000 | $317K | New |
| NTES Netease Inc.-ADR | 0.21% | 3,000 | $309K | Reduce -45.5% |
| AMD Advanced Micro Devices | 0.21% | 3,000 | $308K | Add +66.7% |
| NIO Nio Inc. - ADR | 0.20% | 80,000 | $305K | New |
| ATHM Autohome Inc.-ADR | 0.18% | 10,000 | $277K | New |
| BIOX Bioceres Crop Solutions Corp. | 0.17% | 57,000 | $260K | Add +29.6% |
| BHP BHP Group Ltd.-Spon ADR | 0.16% | 5,000 | $243K | No change |
| NVDA Nvidia Corp. | 0.16% | 2,200 | $238K | New |
| EWA iShares MSCI Australia ETF | 0.16% | 10,000 | $234K | No change |
| TCOM Trip.com Group Ltd.-ADR | 0.15% | 3,600 | $229K | New |
| YINN Direxion DLY Ftse CH BL3X-Ui | 0.14% | 5,000 | $207K | New |
| LAR Lithium Argentina AG | 0.07% | 50,000 | $107K | Add +233.3% |
| IQ Iqiyi Inc.-ADR | 0.06% | 40,000 | $90K | New |
| LAC Lithium Americas Corp. | 0.02% | 10,000 | $27K | New |
Options reported separately and not counted above: APPLE INC puts ($26.7M), INVESCO QQQ TR calls ($19.4M), STATE STR SPDR S&P 500 ETF T puts ($19.1M), APPLE INC calls ($17.4M), ALPHABET INC calls ($10.9M), INVESCO QQQ TR puts ($5.9M), TESLA INC calls ($4.3M), NVIDIA CORPORATION calls ($3.1M), DBX ETF TR calls ($2.4M), MICROSOFT CORP calls ($2.3M), STATE STR SPDR S&P 500 ETF T calls ($1.5M), TESLA INC puts ($1.5M), and 8 more.
Portfolio Sells Q4 2024 → Q1 2025
| YPF YPF S.A.-Sponsored ADR | Reduce -62.5% | 18.34% | −18.10 |
| GGAL Grupo Financiero Galicia-ADR | Reduce -51.2% | 13.85% | −6.10 |
| SUPV Grupo Supervielle SA-SP ADR | Reduce -66.3% | 1.05% | −1.17 |
| BMA Banco Macro SA-ADR | Reduce -31.3% | 6.56% | −0.97 |
| EFA iShares MSCI Eafe ETF | Sold out | 0.00% | −0.38 |
| BABA Alibaba Group Holding-SP ADR | Reduce -80.0% | 0.35% | −0.34 |
| BBAR Bbva Argentina SA-ADR | Reduce -37.5% | 8.46% | −0.30 |
| TLT iShares 20+ Year Treasury BD | Sold out | 0.00% | −0.27 |
| BP BP PLC-Spons ADR | Sold out | 0.00% | −0.24 |
| ASHR Xtrackers Harvest Csi 300 CH | Sold out | 0.00% | −0.13 |
| FXE Invesco Currencyshares Euro | Sold out | 0.00% | −0.12 |
| EWY iShares MSCI South Korea ETF | Sold out | 0.00% | −0.08 |
| JD Jd.com Inc.-ADR | Reduce -57.1% | 0.33% | −0.07 |
| TSLA Tesla Inc. | Reduce -17.6% | 0.24% | −0.04 |
| NTES Netease Inc.-ADR | Reduce -45.5% | 0.21% | +0.00 |
| EDN Emp Distrib Y Comerc Nor-ADR | Reduce -10.6% | 0.52% | +0.02 |
| EC Ecopetrol SA-Sponsored ADR | Reduce -40.0% | 0.25% | +0.06 |
| VALE Vale SA-SP ADR | Reduce -8.1% | 0.45% | +0.18 |
| PDD PDD Holdings Inc. | Reduce -8.2% | 0.71% | +0.32 |
| AGRO Adecoagro SA | Reduce -1.4% | 0.77% | +0.36 |
| FXI iShares China Large-Cap ETF | Reduce -6.7% | 3.66% | +1.61 |
Portfolio Buys Q4 2024 → Q1 2025
| KWEB Kranesh Csi China Internet | Add +20.4% | 10.75% | +6.15 |
| QQQ Invesco QQQ Trust Series 1 | Add +31.1% | 5.41% | +2.64 |
| PAM Pampa Energia SA-Spon ADR | Add +451.5% | 2.24% | +1.96 |
| EWZ iShares MSCI Brazil ETF | Add +21.6% | 3.21% | +1.79 |
| VIST Vista Energy Sab DE CV | New | 0.93% | +0.93 |
| CHAU DD Csi 300 CH A SB 2X ETF-US | New | 0.81% | +0.81 |
| LI Li Auto Inc. - ADR | Add +86.9% | 0.86% | +0.59 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +29.2% | 1.16% | +0.58 |
| BIDU Baidu Inc. - Spon ADR | Add +42.0% | 0.87% | +0.53 |
| OXY Occidental Petroleum Corp. | Add +66.7% | 0.82% | +0.52 |
| TGS Transportador Gas-ADR SP B | Add +39.7% | 0.96% | +0.49 |
| LOMA Loma Negra Cia Ind-Spon ADR | Add +32.7% | 0.98% | +0.49 |
| APA Apa Corp. | Add +280.0% | 0.53% | +0.44 |
| EWW iShares MSCI Mexico ETF | Add +23.0% | 0.80% | +0.43 |
| CRESY Cresud S.A.-Spons ADR | Add +10.5% | 1.18% | +0.43 |
| GOOGL Alphabet Inc. Class A | New | 0.42% | +0.42 |
| IWM iShares Russell 2000 ETF | Add +7.5% | 1.14% | +0.42 |
| IRS Irsa -SP ADR | Add +40.9% | 0.78% | +0.38 |
| PBR Petroleo Brasileiro-Spon ADR | Add +5.0% | 0.80% | +0.38 |
| DIS The Walt Disney Co. | Add +128.6% | 0.53% | +0.37 |
| BEKE Ke Holdings Inc.-ADR | Add +15.6% | 0.50% | +0.25 |
| BILI Bilibili Inc.-Sponsored ADR | Add +14.3% | 0.51% | +0.25 |
| TMF Dir DLY 20+YR TR BL3X ETF-Ui | New | 0.25% | +0.25 |
| ALB Albemarle Corp. | Add +108.6% | 0.35% | +0.23 |
| NU Nu Holdings Ltd./Cayman Isl-A | New | 0.22% | +0.22 |
| CAT Caterpillar Inc. | New | 0.22% | +0.22 |
| ZTO Zto Express Cayman Inc.-ADR | New | 0.21% | +0.21 |
| NIO Nio Inc. - ADR | New | 0.20% | +0.20 |
| MCD McDonald's Corp. | Add +5.0% | 0.44% | +0.20 |
| XBI SS SPDR S&P Biotech ETF | Add +90.0% | 0.31% | +0.20 |
| MSFT Microsoft Corp. | Add +100.0% | 0.30% | +0.20 |
| CAAP Corp. America Airports SA | Add +17.2% | 0.41% | +0.19 |
| ATHM Autohome Inc.-ADR | New | 0.18% | +0.18 |
| CEPU Central Puerto-Sponsored ADR | Add +7.0% | 0.68% | +0.17 |
| NVDA Nvidia Corp. | New | 0.16% | +0.16 |
| TCOM Trip.com Group Ltd.-ADR | New | 0.15% | +0.15 |
| YINN Direxion DLY Ftse CH BL3X-Ui | New | 0.14% | +0.14 |
| AMD Advanced Micro Devices | Add +66.7% | 0.21% | +0.12 |
| ARKG ARK Genomic Revolution ETF | Add +13.3% | 0.24% | +0.09 |
| BIOX Bioceres Crop Solutions Corp. | Add +29.6% | 0.17% | +0.06 |
| IQ Iqiyi Inc.-ADR | New | 0.06% | +0.06 |
| LAR Lithium Argentina AG | Add +233.3% | 0.07% | +0.06 |
| LAC Lithium Americas Corp. | New | 0.02% | +0.02 |
Options Activity Q4 2024 → Q1 2025
| APPLE INC | put | Add +155.0% | 120,100 | $26.7M |
| INVESCO QQQ TR | call | Reduce -50.4% | 41,300 | $19.4M |
| STATE STR SPDR S&P 500 ETF T | put | Reduce -16.8% | 34,200 | $19.1M |
| APPLE INC | call | Reduce -55.3% | 78,300 | $17.4M |
| ALPHABET INC | call | Add +58.3% | 70,300 | $10.9M |
| INVESCO QQQ TR | put | Reduce -24.2% | 12,500 | $5.9M |
| TESLA INC | call | Add +626.1% | 16,700 | $4.3M |
| VANECK ETF TRUST | put | Sold out | 13,100 | $3.2Mbefore exit |
| NVIDIA CORPORATION | call | Add +889.7% | 28,700 | $3.1M |
| DBX ETF TR | call | Add +351.5% | 90,300 | $2.4M |
| MICROSOFT CORP | call | Add +71.4% | 6,000 | $2.3M |
| PDD HOLDINGS INC | call | Sold out | 20,000 | $1.9Mbefore exit |
| STATE STR SPDR S&P 500 ETF T | call | Reduce -80.8% | 2,700 | $1.5M |
| TESLA INC | put | Reduce -22.7% | 5,800 | $1.5M |
| NVIDIA CORPORATION | put | Add +120.4% | 11,900 | $1.3M |
| GRUPO FINANCIERO GALICIA S.A | call | Sold out | 18,700 | $1.2Mbefore exit |
| ALIBABA GROUP HLDG LTD | call | Sold out | 10,000 | $848Kbefore exit |
| ISHARES TR | call | Add +17.6% | 4,000 | $798K |
| LOCKHEED MARTIN CORP | call | New | 1,500 | $670K |
| YPF SOCIEDAD ANONIMA | put | Sold out | 15,600 | $663Kbefore exit |
| AMAZON COM INC | call | Add +57.9% | 3,000 | $571K |
| ISHARES TR | put | Sold out | 2,500 | $552Kbefore exit |
| UNITEDHEALTH GROUP INC | call | New | 1,000 | $524K |
| BOEING CO | call | Reduce -84.8% | 2,600 | $443K |
| ISHARES INC | call | New | 6,000 | $306K |
| ALBEMARLE CORP | call | Sold out | 3,000 | $258Kbefore exit |
| META PLATFORMS INC | put | Sold out | 400 | $234Kbefore exit |
| ISHARES INC | call | Sold out | 10,000 | $225Kbefore exit |
| AMAZON COM INC | put | Sold out | 1,000 | $219Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 69 | $308.1M | YPF, GGAL, BBAR, PAM, KWEB |
| Q1 2026 | 66 | $258.5M | YPF, PAM, BBAR, GGAL, KWEB |
| Q4 2025 | 54 | $251.0M | YPF, GGAL, PAM, KWEB, FXI |
| Q3 2025 | 50 | $166.1M | YPF, PAM, GGAL, KWEB, BBAR |
| Q2 2025 | 51 | $176.7M | YPF, GGAL, KWEB, QQQ, BBAR |
| Q1 2025 | 65 | $149.9M | YPF, GGAL, KWEB, BBAR, BMA |
| Q4 2024 | 57 | $243.8M | YPF, GGAL, BBAR, BMA, KWEB |
| Q3 2024 | 57 | $179.8M | YPF, GGAL, BMA, BBAR, QQQ |
| Q2 2024 | 52 | $159.6M | YPF, GGAL, BMA, BBAR, AAPL |