TB Alternative Assets Ltd.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 15, 2024), TB Alternative Assets Ltd. reported 40 stock positions worth $399.4 million. Its top holding was Snap Class A (SNAP) at 14.6% of the portfolio, followed by Airbnb Class A (ABNB, 13.4%) and Zillow Class C (Z, 9.4%). Compared with Q4 2023, it opened 13 new positions, sold out of 13, added to 4 and reduced 8. The biggest buy was Snap Class A (SNAP, shares +145%) and the biggest sale Ke Holdings Inc.-ADR (BEKE, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001483503
- Portfolio Value
- $399.4M (Q1 2024)
- SEC Filing
- 0000950123-24-003303 ↗ filed Apr 15, 2024
Holdings Value
Holdings 40 stocks · $399.4M
| SNAP Snap Inc. Class A | 14.64% | 5,094,800 | $58.5M | Add +144.5% |
| ABNB Airbnb Inc. Class A | 13.38% | 323,900 | $53.4M | Add +36.0% |
| Z Zillow Group Inc. Class C | 9.44% | 772,900 | $37.7M | Add +28.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 7.78% | 254,100 | $31.1M | Reduce -5.5% |
| HOOD Robinhood Markets Inc. Class A | 6.49% | 1,288,000 | $25.9M | Reduce -55.5% |
| TNA Dir Dai SML Ca Bul 3X Et-Usd | 5.11% | 475,900 | $20.4M | New |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 4.02% | 1,168,597 | $16.0M | Reduce -46.1% |
| NVDA Nvidia Corp. | 3.23% | 14,300 | $12.9M | New |
| GOOG Alphabet Inc. Class C | 3.01% | 79,000 | $12.0M | Reduce -2.2% |
| BMY Bristol-Myers Squibb Co. | 2.64% | 194,550 | $10.6M | New |
| LYFT LYFT Inc. Class A | 2.56% | 529,300 | $10.2M | Add +62.1% |
| LABU DRXN DLY S&P BT BL 3X ETF-Ui | 2.55% | 76,700 | $10.2M | New |
| PDD PDD Holdings Inc. | 2.53% | 87,000 | $10.1M | No change |
| META Meta Platforms Inc. Class A | 2.13% | 17,500 | $8.5M | New |
| TAL Tal Education Group- ADR | 1.93% | 680,500 | $7.7M | Reduce -7.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.83% | 193,000 | $7.3M | Reduce -19.1% |
| TALK Talkspace Inc. | 1.73% | 1,932,612 | $6.9M | No change |
| TSLA Tesla Inc. | 1.71% | 38,900 | $6.8M | Reduce -27.4% |
| MRNA Moderna Inc. | 1.60% | 59,900 | $6.4M | New |
| YMM Full Truck Alliance -SPN ADR | 1.16% | 635,900 | $4.6M | Reduce -23.4% |
| U Unity Software Inc. | 1.14% | 171,100 | $4.6M | New |
| TQQQ Proshares Ultrapro QQQ | 1.09% | 70,700 | $4.4M | New |
| PTON Peloton Interactive Inc. Class A | 1.09% | 1,014,400 | $4.3M | No change |
| BIDU Baidu Inc. - Spon ADR | 1.05% | 39,800 | $4.2M | No change |
| ARM Arm Holdings PLC-ADR | 0.93% | 29,650 | $3.7M | New |
| ENPH Enphase Energy Inc. | 0.90% | 29,700 | $3.6M | No change |
| BILI Bilibili Inc.-Sponsored ADR | 0.85% | 303,900 | $3.4M | No change |
| SY So-Young International-ADR | 0.84% | 3,067,873 | $3.3M | No change |
| LITB Lightinthebox Holding-ADR | 0.42% | 2,057,023 | $1.7M | No change |
| RDFN Redfin Corp. | 0.33% | 198,600 | $1.3M | No change |
| IQ Iqiyi Inc.-ADR | 0.33% | 309,400 | $1.3M | No change |
| MOGU Mogu Inc.-ADR | 0.33% | 689,100 | $1.3M | No change |
| TME Tencent Music Entertainm-ADR | 0.30% | 107,500 | $1.2M | New |
| JOYY Joyy Inc.-ADR | 0.23% | 29,600 | $910K | No change |
| DNA Ginkgo Bioworks Holdings Inc. | 0.22% | 745,000 | $864K | No change |
| VAC Marriott Vacations World | 0.18% | 6,600 | $711K | New |
| RXRX Recursion Pharmaceuticals-A | 0.18% | 70,800 | $706K | New |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.08% | 195 | $332K | New |
| YJ Yunji Inc.-ADR | 0.03% | 129,000 | $107K | No change |
| API Agora Inc.-ADR | 0.02% | 25,600 | $64K | No change |
Portfolio Sells Q4 2023 → Q1 2024
| BEKE Ke Holdings Inc.-ADR | Reduce -46.1% | 4.02% | −5.36 |
| HOOD Robinhood Markets Inc. Class A | Reduce -55.5% | 6.49% | −3.35 |
| YINN Direxion DLY Ftse CH BL3X-Ui | Sold out | 0.00% | −2.79 |
| VFC VF Corp. | Sold out | 0.00% | −2.39 |
| DASH DoorDash Inc. Class A | Sold out | 0.00% | −2.32 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −2.06 |
| GDX Vaneck Gold Miners ETF | Sold out | 0.00% | −1.95 |
| TSLA Tesla Inc. | Reduce -27.4% | 1.71% | −1.84 |
| GDXJ Vaneck Junior Gold Miners | Sold out | 0.00% | −1.72 |
| AAL American Airlines Group Inc. | Sold out | 0.00% | −1.57 |
| EDU New Oriental Educatio-SP ADR | Sold out | 0.00% | −1.33 |
| DAL Delta Air Lines Inc. | Sold out | 0.00% | −1.20 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −0.86 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.71 |
| FUTU Futu Holdings Ltd.-ADR | Sold out | 0.00% | −0.65 |
| TAL Tal Education Group- ADR | Reduce -7.7% | 1.93% | −0.55 |
| YMM Full Truck Alliance -SPN ADR | Reduce -23.4% | 1.16% | −0.39 |
| BAC Bank of America Corp. | Reduce -19.1% | 1.83% | −0.31 |
| STAA Staar Surgical Co. | Sold out | 0.00% | −0.13 |
| GOOG Alphabet Inc. Class C | Reduce -2.2% | 3.01% | −0.02 |
| DIS The Walt Disney Co. | Reduce -5.5% | 7.78% | +1.31 |
Portfolio Buys Q4 2023 → Q1 2024
| SNAP Snap Inc. Class A | Add +144.5% | 14.64% | +5.24 |
| TNA Dir Dai SML Ca Bul 3X Et-Usd | New | 5.11% | +5.11 |
| ABNB Airbnb Inc. Class A | Add +36.0% | 13.38% | +4.73 |
| NVDA Nvidia Corp. | New | 3.23% | +3.23 |
| BMY Bristol-Myers Squibb Co. | New | 2.64% | +2.64 |
| LABU DRXN DLY S&P BT BL 3X ETF-Ui | New | 2.55% | +2.55 |
| META Meta Platforms Inc. Class A | New | 2.13% | +2.13 |
| MRNA Moderna Inc. | New | 1.60% | +1.60 |
| LYFT LYFT Inc. Class A | Add +62.1% | 2.56% | +1.26 |
| U Unity Software Inc. | New | 1.14% | +1.14 |
| TQQQ Proshares Ultrapro QQQ | New | 1.09% | +1.09 |
| ARM Arm Holdings PLC-ADR | New | 0.93% | +0.93 |
| TME Tencent Music Entertainm-ADR | New | 0.30% | +0.30 |
| Z Zillow Group Inc. Class C | Add +28.8% | 9.44% | +0.19 |
| VAC Marriott Vacations World | New | 0.18% | +0.18 |
| RXRX Recursion Pharmaceuticals-A | New | 0.18% | +0.18 |
| MSTR Strategy Inc. | New | 0.08% | +0.08 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 34 | $623.1M | INTC, MRVL, TSM, SNDK, META |
| Q1 2026 | 36 | $481.1M | META, UGL, PDD, FIGR, OXY |
| Q4 2025 | 50 | $610.8M | META, GOOG, INTC, AEM, PDD |
| Q3 2025 | 48 | $668.4M | META, GOOG, INTC, PDD, MSTR |
| Q2 2025 | 41 | $540.0M | GOOG, CEG, Z, INTC, COIN |
| Q1 2025 | 44 | $430.4M | Z, CEG, META, GOOG, BA |
| Q4 2024 | 43 | $388.4M | BA, SNAP, Z, YINN, AEM |
| Q3 2024 | 40 | $421.4M | SNAP, Z, META, DIS, ABNB |
| Q2 2024 | 37 | $429.5M | SNAP, ABNB, Z, META, DIS |
| Q1 2024 | 40 | $399.4M | SNAP, ABNB, Z, DIS, HOOD |