Triata Capital Ltd
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Triata Capital Ltd reported 15 stock positions worth $512.3 million. Its top holding was PDD (PDD) at 33.4% of the portfolio, followed by Vnet Group Inc.-ADR (VNET, 16.5%) and GDS Holdings Ltd. - ADR (GDS, 10.6%). Compared with Q1 2025, it opened 3 new positions, added to 6 and reduced 3. The biggest buy was GDS Holdings Ltd. - ADR (GDS, shares +501%) and the biggest sale PDD (PDD, shares −12%).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0002014039
- Portfolio Value
- $512.3M (Q2 2025)
- SEC Filing
- 0002014039-25-000006 ↗ filed Aug 14, 2025
Holdings Value
Holdings 15 stocks · $512.3M
| PDD PDD Holdings Inc. | 33.39% | 1,634,328 | $171.0M | Reduce -11.6% |
| VNET Vnet Group Inc.-ADR | 16.47% | 12,225,304 | $84.4M | Add +169.6% |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 10.61% | 1,777,614 | $54.3M | Add +500.5% |
| ACMR Acm Research Inc. Class A | 8.04% | 1,590,225 | $41.2M | Add +16.0% |
| BIDU Baidu Inc. - Spon ADR | 7.88% | 470,623 | $40.4M | Reduce -17.2% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 6.46% | 1,866,307 | $33.1M | Add +4.4% |
| EDU New Oriental Educatio-SP ADR | 3.72% | 352,974 | $19.0M | Add +20.1% |
| IQ Iqiyi Inc.-ADR | 2.88% | 8,324,800 | $14.7M | New |
| ATAT Atour Lifestyle Holdings-ADR | 2.71% | 427,803 | $13.9M | No change |
| HTHT H World Group Ltd.-ADR | 1.92% | 290,035 | $9.8M | No change |
| TCOM Trip.com Group Ltd.-ADR | 1.67% | 146,000 | $8.6M | New |
| BABA Alibaba Group Holding-SP ADR | 1.50% | 67,641 | $7.7M | Reduce -22.7% |
| YMM Full Truck Alliance -SPN ADR | 1.12% | 486,419 | $5.7M | Add +21.6% |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 0.90% | 106,131 | $4.6M | No change |
| LEGN Legend Biotech Corp.-ADR | 0.74% | 107,500 | $3.8M | New |
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
| GDS GDS Holdings Ltd. - ADR | Add +500.5% | 10.61% | +8.91 |
| VNET Vnet Group Inc.-ADR | Add +169.6% | 16.47% | +8.05 |
| IQ Iqiyi Inc.-ADR | New | 2.88% | +2.88 |
| TCOM Trip.com Group Ltd.-ADR | New | 1.67% | +1.67 |
| ACMR Acm Research Inc. Class A | Add +16.0% | 8.04% | +0.80 |
| LEGN Legend Biotech Corp.-ADR | New | 0.74% | +0.74 |
| EDU New Oriental Educatio-SP ADR | Add +20.1% | 3.72% | +0.54 |
| YMM Full Truck Alliance -SPN ADR | Add +21.6% | 1.12% | −0.03 |
| BEKE Ke Holdings Inc.-ADR | Add +4.4% | 6.46% | −1.66 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 12 | $588.3M | PDD, VNET, QFIN, GDS, BEKE |
| Q1 2026 | 14 | $551.8M | PDD, VNET, QFIN, GDS, BABA |
| Q4 2025 | 15 | $825.1M | PDD, VNET, GDS, ACMR, QFIN |
| Q3 2025 | 15 | $856.8M | PDD, VNET, GDS, ACMR, BEKE |
| Q2 2025 | 15 | $512.3M | PDD, VNET, GDS, ACMR, BIDU |
| Q1 2025 | 12 | $442.0M | PDD, BIDU, VNET, BEKE, ACMR |
| Q4 2024 | 12 | $241.4M | PDD, VNET, GDS, BEKE, BIDU |