Tree Line Advisors (Hong Kong) Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Tree Line Advisors (Hong Kong) Ltd. reported 6 stock positions worth $547.5 million. Its top holding was Sea Ltd.-ADR (SE) at 31.2% of the portfolio, followed by Nebius (NBIS, 21.5%) and Coupang (CPNG, 19.8%). Compared with Q2 2025, it opened 2 new positions and reduced 1. The biggest buy was a new position in Futu Holdings Ltd.-ADR (FUTU) and the biggest sale Sea Ltd.-ADR (SE, shares −24%).
- Most Recent 13F
- Q2 2026
- Location
- CENTRAL, K3
- CIK
- 0001535096
- Portfolio Value
- $547.5M (Q3 2025)
- SEC Filing
- 0000929638-25-004239 ↗ filed Nov 13, 2025
Holdings Value
Holdings 6 stocks · $547.5M
| SE Sea Ltd.-ADR | 31.15% | 940,000 | $170.6M | Reduce -23.6% |
| NBIS Nebius Group NV | 21.54% | 1,070,000 | $117.9M | No change |
| CPNG Coupang Inc. | 19.79% | 3,300,000 | $108.3M | No change |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 11.73% | 370,000 | $64.3M | New |
| AVGO Broadcom Inc. | 9.58% | 160,000 | $52.5M | New |
| ATAT Atour Lifestyle Holdings-ADR | 6.20% | 900,000 | $34.0M | No change |
Portfolio Sells Q2 2025 → Q3 2025
| SE Sea Ltd.-ADR | Reduce -23.6% | 31.15% | −20.07 |
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 3 | $351.1M | NBIS, SE, CPNG |
| Q1 2026 | 3 | $232.6M | NBIS, SE, CPNG |
| Q4 2025 | 6 | $438.9M | SE, NBIS, CPNG, FUTU, AVGO |
| Q3 2025 | 6 | $547.5M | SE, NBIS, CPNG, FUTU, AVGO |
| Q2 2025 | 4 | $384.1M | SE, CPNG, NBIS, ATAT |
| Q1 2025 | 7 | $400.8M | SE, CPNG, FCX, NVDA, AVGO |
| Q4 2024 | 9 | $531.8M | SE, CPNG, AVGO, NVDA, FCX |
| Q3 2024 | 7 | $430.6M | SE, CPNG, FCX, NVDA, AVGO |
| Q2 2024 | 7 | $385.3M | SE, CPNG, FCX, NVDA, AVGO |
| Q1 2024 | 7 | $331.4M | NVDA, CPNG, SE, AVGO, ANET |