Serenity Capital Management Pte. LTD.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 12, 2026), Serenity Capital Management Pte. LTD. reported 10 stock positions worth $414.4 million. Its top holding was Zto Express Cayman Inc.-ADR (ZTO) at 30.7% of the portfolio, followed by Tal Education Group- ADR (TAL, 13.0%) and H World Group Ltd.-ADR (HTHT, 11.6%). Compared with Q4 2025, it opened 1 new position, added to 2 and reduced 2. The biggest buy was a new position in PDD (PDD) and the biggest sale Mattel (MAT, shares −16%).

Most Recent 13F
Q2 2026
Location
Singapore, U0
CIK
0001934957
Portfolio Value
$414.4M (Q1 2026)
SEC Filing
0001172661-26-001688 ↗ filed May 12, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $178.8M Q1 2024 Q2 2024: $161.6M Q2 2024 Q3 2024: $196.4M Q3 2024 Q4 2024: $149.0M Q4 2024 Q1 2025: $167.1M Q1 2025 Q2 2025: $235.8M Q2 2025 Q3 2025: $394.0M Q3 2025 Q4 2025: $376.8M Q4 2025 Q1 2026: $414.4M $414.4M Q1 2026 Q2 2026: $331.6M Q2 2026

Holdings 10 stocks · $414.4M
ZTO Zto Express Cayman Inc.-ADR 30.72% 5,056,987 $127.3M No change
TAL Tal Education Group- ADR filed as TAL ED GROUP 12.98% 4,730,377 $53.8M No change
HTHT H World Group Ltd.-ADR 11.64% 958,957 $48.2M Reduce -24.8%
EDU New Oriental Educatio-SP ADR 8.98% 656,878 $37.2M No change
PDD PDD Holdings Inc. 8.88% 360,000 $36.8M New
MNSO Miniso Group Holding Ltd.-ADR 8.37% 2,141,535 $34.7M Add +5.8%
YMM Full Truck Alliance -SPN ADR 7.39% 3,687,779 $30.6M Add +104.0%
MAT Mattel Inc. 7.02% 2,002,032 $29.1M Reduce -16.1%
BABA Alibaba Group Holding-SP ADR 2.12% 70,000 $8.8M No change
ATAT Atour Lifestyle Holdings-ADR 1.91% 215,000 $7.9M No change

Portfolio Sells Q4 2025 → Q1 2026
MAT Mattel Inc. Reduce -16.1% 7.02% −5.54
HTHT H World Group Ltd.-ADR Reduce -24.8% 11.64% −4.28

Portfolio Buys Q4 2025 → Q1 2026
PDD PDD Holdings Inc. New 8.88% +8.88
YMM Full Truck Alliance -SPN ADR Add +104.0% 7.39% +2.24
MNSO Miniso Group Holding Ltd.-ADR Add +5.8% 8.37% −1.70

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 11$331.6MZTO, TAL, EDU, YMM, PDD
Q1 2026 10$414.4MZTO, TAL, HTHT, EDU, PDD
Q4 2025 9$376.8MZTO, HTHT, TAL, MAT, MNSO
Q3 2025 8$394.0MBZ, ZTO, TAL, HTHT, EDU
Q2 2025 8$235.8MZTO, BZ, MNSO, HTHT, EDU
Q1 2025 7$167.1MZTO, BZ, QFIN, EDU, MNSO
Q4 2024 5$149.0MZTO, QFIN, ATAT, EDU, TAL
Q3 2024 4$196.4MZTO, QFIN, ATAT, TAL
Q2 2024 4$161.6MZTO, QFIN, ATAT, TAL
Q1 2024 3$178.8MZTO, QFIN, TAL