Tekne Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Tekne Capital Management, LLC reported 5 stock positions worth $354.2 million. Its top holding was GDS Holdings Ltd. - ADR (GDS) at 69.2% of the portfolio, followed by Kanzhun Ltd. - ADR (BZ, 17.5%) and Stoneco Class A (STNE, 11.7%). Compared with Q2 2025, it opened 1 new position, added to 1 and reduced 2. The biggest buy was GDS Holdings Ltd. - ADR (GDS, shares +1%) and the biggest sale D-Market Electronic Serv-ADR (HEPS, shares −48%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001558971
- Portfolio Value
- $354.2M (Q3 2025)
- SEC Filing
- 0000919574-25-006694 ↗ filed Nov 13, 2025
Holdings Value
Holdings 5 stocks · $354.2M
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 69.24% | 6,336,456 | $245.2M | Add +1.2% |
| BZ Kanzhun Ltd. - ADR | 17.48% | 2,650,000 | $61.9M | Reduce -9.6% |
| STNE Stoneco Ltd. Class A | 11.75% | 2,200,000 | $41.6M | No change |
| HEPS D-Market Electronic Serv-ADR | 1.22% | 1,611,112 | $4.3M | Reduce -47.9% |
| TONX Ton Strategy Co. | 0.31% | 157,810 | $1.1M | New |
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 6 | $305.6M | GDS, ACMR, BTDR, BIDU, PAACU |
| Q1 2026 | 3 | $236.7M | GDS, ACMR, PAACU |
| Q4 2025 | 4 | $280.2M | GDS, BZ, ECHO, ACMR |
| Q3 2025 | 5 | $354.2M | GDS, BZ, STNE, HEPS, TONX |
| Q2 2025 | 4 | $287.4M | GDS, BZ, STNE, HEPS |
| Q1 2025 | 6 | $262.3M | GDS, BZ, PAGS, HEPS, KSPI |
| Q4 2024 | 7 | $282.6M | GDS, BZ, NBIS, PAGS, KSPI |
| Q3 2024 | 5 | $246.7M | GDS, BZ, PAGS, KSPI, SE |
| Q2 2024 | 5 | $190.3M | GDS, BZ, PAGS, KSPI, SE |
| Q1 2024 | 11 | $349.8M | PAGS, SE, BZ, KSPI, KWEB |