Q Fund Management (Hong Kong) Ltd
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 14, 2026), Q Fund Management (Hong Kong) Ltd reported 33 stock positions worth $106.5 million. Its top holding was Alphabet Class C (GOOG) at 21.5% of the portfolio, followed by Tesla (TSLA, 13.8%) and Coherent (COHR, 10.4%). Compared with Q3 2025, it opened 19 new positions, sold out of 11, added to 2 and reduced 5. The biggest buy was a new position in Alphabet Class C (GOOG) and the biggest sale an exit from Coreweave Class A (CRWV).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0002078832
- Portfolio Value
- $106.5M (Q4 2025)
- SEC Filing
- 0002078832-26-000003 ↗ filed Jan 14, 2026
Holdings Value
Holdings 33 stocks · $106.5M
| GOOG Alphabet Inc. Class C | 21.47% | 72,900 | $22.9M | New |
| TSLA Tesla Inc. | 13.81% | 32,700 | $14.7M | Reduce -31.3% |
| COHR Coherent Corp. | 10.36% | 59,781 | $11.0M | New |
| HOOD Robinhood Markets Inc. Class A | 8.96% | 84,365 | $9.5M | Reduce -38.4% |
| MU Micron Technology Inc. | 8.33% | 31,100 | $8.9M | New |
| INTC Intel Corp. | 7.20% | 207,800 | $7.7M | New |
| SNDK Sandisk Corp. | 6.89% | 30,900 | $7.3M | New |
| AFRM Affirm Holdings Inc. | 6.02% | 86,200 | $6.4M | New |
| IBIT iShares Bitcoin Trust ETF | 2.42% | 52,000 | $2.6M | Reduce -82.1% |
| IEF iShares 7-10 Year Treasury B | 2.26% | 25,000 | $2.4M | No change |
| GDX Vaneck Gold Miners ETF | 1.29% | 16,000 | $1.4M | New |
| GOOGL Alphabet Inc. Class A | 1.26% | 4,300 | $1.3M | Add +7.5% |
| DQ Daqo New Energy Corp.-ADR | 1.12% | 40,360 | $1.2M | Add +0.9% |
| UNH Unitedhealth Group Inc. | 0.82% | 2,650 | $875K | New |
| HODL Vaneck Bitcoin ETF | 0.74% | 32,000 | $791K | No change |
| ETHW Bitwise Ethereum ETF | 0.70% | 35,000 | $744K | No change |
| ARKB ARK 21SHARES Bitcoin ETF | 0.65% | 24,000 | $697K | No change |
| RDDT Reddit Inc. Class A | 0.58% | 2,700 | $621K | New |
| SNOW Snowflake Inc. | 0.58% | 2,800 | $614K | New |
| MDB Mongodb Inc. | 0.53% | 1,350 | $567K | New |
| EQT Eqt Corp. | 0.50% | 10,000 | $536K | New |
| APP AppLovin Corp. Class A | 0.50% | 790 | $532K | Reduce -21.0% |
| ETH Grayscale Ethereum Staking M | 0.47% | 18,000 | $505K | Reduce -14.3% |
| META Meta Platforms Inc. Class A | 0.43% | 700 | $462K | New |
| AMZN Amazon.com Inc. | 0.43% | 2,000 | $462K | New |
| IE Ivanhoe Electric Inc. / US | 0.38% | 25,000 | $400K | New |
| PDD PDD Holdings Inc. | 0.27% | 2,500 | $283K | New |
| WULF Terawulf Inc. | 0.26% | 24,000 | $276K | New |
| OXY Occidental Petroleum Corp. | 0.23% | 6,000 | $247K | No change |
| UBER Uber Technologies Inc. | 0.23% | 3,000 | $245K | New |
| NKE Nike Inc. Class B | 0.18% | 3,000 | $191K | No change |
| TLT iShares 20+ Year Treasury BD | 0.08% | 1,000 | $87K | No change |
| DEO Diageo PLC-Sponsored ADR | 0.04% | 500 | $43K | New |
Portfolio Sells Q3 2025 → Q4 2025
| CRWV Coreweave Inc. Class A | Sold out | 0.00% | −12.93 |
| IBIT iShares Bitcoin Trust ETF | Reduce -82.1% | 2.42% | −10.65 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −8.67 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −7.31 |
| ORCL Oracle Corp. | Sold out | 0.00% | −5.28 |
| SHOP Shopify Inc. Class A | Sold out | 0.00% | −4.83 |
| HOOD Robinhood Markets Inc. Class A | Reduce -38.4% | 8.96% | −4.65 |
| OPEN Opendoor Technologies Inc. | Sold out | 0.00% | −4.48 |
| OSCR Oscar Health Inc. Class A | Sold out | 0.00% | −4.12 |
| TSLL Dirx DLY Tsla Bul 2X ETF-Aui | Sold out | 0.00% | −2.50 |
| BITU Proshares Ultra Bitcoin ETF | Sold out | 0.00% | −1.35 |
| TSLA Tesla Inc. | Reduce -31.3% | 13.81% | −0.88 |
| FROG Jfrog Ltd. | Sold out | 0.00% | −0.30 |
| BITB Bitwise Bitcoin ETF | Sold out | 0.00% | −0.19 |
| ETH Grayscale Ethereum Staking M | Reduce -14.3% | 0.47% | −0.10 |
| APP AppLovin Corp. Class A | Reduce -21.0% | 0.50% | +0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOG Alphabet Inc. Class C | New | 21.47% | +21.47 |
| COHR Coherent Corp. | New | 10.36% | +10.36 |
| MU Micron Technology Inc. | New | 8.33% | +8.33 |
| INTC Intel Corp. | New | 7.20% | +7.20 |
| SNDK Sandisk Corp. | New | 6.89% | +6.89 |
| AFRM Affirm Holdings Inc. | New | 6.02% | +6.02 |
| GDX Vaneck Gold Miners ETF | New | 1.29% | +1.29 |
| UNH Unitedhealth Group Inc. | New | 0.82% | +0.82 |
| GOOGL Alphabet Inc. Class A | Add +7.5% | 1.26% | +0.59 |
| RDDT Reddit Inc. Class A | New | 0.58% | +0.58 |
| SNOW Snowflake Inc. | New | 0.58% | +0.58 |
| MDB Mongodb Inc. | New | 0.53% | +0.53 |
| EQT Eqt Corp. | New | 0.50% | +0.50 |
| META Meta Platforms Inc. Class A | New | 0.43% | +0.43 |
| AMZN Amazon.com Inc. | New | 0.43% | +0.43 |
| IE Ivanhoe Electric Inc. / US | New | 0.38% | +0.38 |
| DQ Daqo New Energy Corp.-ADR | Add +0.9% | 1.12% | +0.34 |
| PDD PDD Holdings Inc. | New | 0.27% | +0.27 |
| WULF Terawulf Inc. | New | 0.26% | +0.26 |
| UBER Uber Technologies Inc. | New | 0.23% | +0.23 |
| DEO Diageo PLC-Sponsored ADR | New | 0.04% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 26 | $109.5M | MRVL, INTC, SNDK, ALAB, MU |
| Q1 2026Amended | 21 | $41.7M | LITE, AXTI, TSEM, SNDK, IEF |
| Q4 2025 | 33 | $106.5M | GOOG, TSLA, COHR, HOOD, MU |
| Q3 2025 | 25 | $144.1M | TSLA, HOOD, IBIT, CRWV, MRVL |
| Q2 2025 | 27 | $181.9M | HOOD, META, IBIT, TSLA, BITU |
| Q1 2025 | 27 | $73.1M | SQQQ, HOOD, PLTR, APP, RBLX |
| Q4 2024 | 34 | $95.4M | ZM, SQQQ, BITX, CRM, BITU |