In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 27, 2025), WT Asset Management Ltd reported 39 stock positions worth $898.6 million . Its top holding was Nvidia (NVDA) at 15.5% of the portfolio, followed by Amer Sports (AS, 11.2% ) and Taiwan Semiconductor-SP ADR (TSM, 8.7% ). Compared with Q3 2024, it opened 23 new positions, sold out of 13, added to 11 and reduced 5. The biggest buy was Amazon.com (AMZN, shares +2304% ) and the biggest sale an exit from Jd.com Inc.-ADR (JD).
Location HONG KONG, K3
CIK 0001780365
Portfolio Value $898.6M (Q4 2024) Holdings 39 stocks · $898.6M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 NVDA Nvidia Corp. 1,034,860 $139.0M Add +156.3% AS Amer Sports Inc. 3,606,363 $100.8M Add +188.2% TSM Taiwan Semiconductor-SP ADR 394,241 $77.9M Add +9.5% AMZN Amazon.com Inc. 336,528 $73.8M Add +2303.8% META Meta Platforms Inc. Class A 106,848 $62.6M Add +75.2% BABA Alibaba Group Holding-SP ADR 634,200 $53.8M Add +364.4% CRM Salesforce Inc. 152,451 $51.0M New GEV GE Vernova Inc. 136,270 $44.8M Reduce -16.9% BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 2,327,198 $42.9M Add +1761.8% TPR Tapestry Inc. 654,547 $42.8M New NOW ServiceNow Inc. 39,100 $41.5M Add +1855.0% DUOL Duolingo 62,500 $20.3M New SAP Sap SE-Sponsored ADR 70,100 $17.3M New TSLA Tesla Inc. 37,900 $15.3M Reduce -46.2% SPOT Spotify Technology SA 33,500 $15.0M New ZM Zoom Communications Inc. 180,700 $14.7M New FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 149,977 $12.0M Add +899.9% CMI Cummins Inc. 32,645 $11.4M New RDDT Reddit Inc. Class A 50,100 $8.2M New EDU New Oriental Educatio-SP ADR 124,882 $8.0M Reduce -81.0% ONON On Holding AG Class A filed as ON HLDG AG 132,984 $7.3M New YMM Full Truck Alliance -SPN ADR 558,800 $6.0M Add +394.5% SN Sharkninja Inc. 39,924 $3.9M New ANET Arista Networks Inc. 30,000 $3.3M Reduce -92.2% TCOM Trip.com Group Ltd.-ADR 44,416 $3.0M Add +92.3% NTES Netease Inc.-ADR 29,413 $2.6M New KC Kingsoft Cloud Holdings-ADR 249,100 $2.6M New AFRM Affirm Holdings Inc. 36,850 $2.2M New VRT Vertiv Holdings Co. Class A 16,000 $1.8M New ETN Eaton Corp. PLC 5,000 $1.7M Reduce -96.4% DOCU Docusign Inc. 17,043 $1.5M New HOOD Robinhood Markets Inc. Class A 41,000 $1.5M New GLW Corning Inc. 30,000 $1.4M New SMTC Semtech Corp. 20,000 $1.2M New ULTA Ulta Beauty Inc. 2,700 $1.2M New FIVE Five Below 11,000 $1.2M New RH RH 2,750 $1.1M New TAL Tal Education Group- ADR 104,000 $1.0M New DASH DoorDash Inc. Class A 6,000 $1.0M New
Other holdings (1): bonds, preferreds, convertibles and warrants · $8.4M (not counted above) Total filed on the 13F, all lines: $907.0M.
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ JD Jd.com Inc.-ADR Sold out 0.00% −11.15 EDU New Oriental Educatio-SP ADR Reduce -81.0% 0.89% −9.07 ETN Eaton Corp. PLC Reduce -96.4% 0.18% −8.93 ANET Arista Networks Inc. Reduce -92.2% 0.37% −7.07 AMD Advanced Micro Devices Sold out 0.00% −5.64 SE Sea Ltd.-ADR Sold out 0.00% −4.32 GEV GE Vernova Inc. Reduce -16.9% 4.99% −3.39 TSLA Tesla Inc. Reduce -46.2% 1.70% −1.99 GCT Gigacloud Technology Inc. Class A Sold out 0.00% −0.56 PLTR Palantir Technologies Inc. Class A Sold out 0.00% −0.30 NKE Nike Inc. Class B Sold out 0.00% −0.29 GE General Electric Sold out 0.00% −0.23 MNDY Monday.com Ltd. Sold out 0.00% −0.14 DDOG Datadog Inc. Class A Sold out 0.00% −0.12 APP AppLovin Corp. Class A Sold out 0.00% −0.10 ZK Zeekr Intelligent Techno-ADR Sold out 0.00% −0.09 VNET Vnet Group Inc.-ADR Sold out 0.00% −0.07 RERE Atrenew Inc. Sold out 0.00% −0.03
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ AMZN Amazon.com Inc. Add +2303.8% 8.22% +7.69 AS Amer Sports Inc. Add +188.2% 11.22% +7.22 CRM Salesforce Inc. New 5.67% +5.67 NVDA Nvidia Corp. Add +156.3% 15.47% +5.64 TPR Tapestry Inc. New 4.76% +4.76 BEKE Ke Holdings Inc.-ADR Add +1761.8% 4.77% +4.27 NOW ServiceNow Inc. Add +1855.0% 4.61% +4.25 BABA Alibaba Group Holding-SP ADR Add +364.4% 5.98% +3.08 DUOL Duolingo New 2.26% +2.26 SAP Sap SE-Sponsored ADR New 1.92% +1.92 SPOT Spotify Technology SA New 1.67% +1.67 ZM Zoom Communications Inc. New 1.64% +1.64 CMI Cummins Inc. New 1.27% +1.27 FUTU Futu Holdings Ltd.-ADR Add +899.9% 1.34% +1.05 RDDT Reddit Inc. Class A New 0.91% +0.91 ONON On Holding AG Class A New 0.81% +0.81 YMM Full Truck Alliance -SPN ADR Add +394.5% 0.67% +0.47 SN Sharkninja Inc. New 0.43% +0.43 NTES Netease Inc.-ADR New 0.29% +0.29 KC Kingsoft Cloud Holdings-ADR New 0.29% +0.29 AFRM Affirm Holdings Inc. New 0.25% +0.25 VRT Vertiv Holdings Co. Class A New 0.20% +0.20 DOCU Docusign Inc. New 0.17% +0.17 HOOD Robinhood Markets Inc. Class A New 0.17% +0.17 GLW Corning Inc. New 0.16% +0.16 SMTC Semtech Corp. New 0.14% +0.14 ULTA Ulta Beauty Inc. New 0.13% +0.13 FIVE Five Below New 0.13% +0.13 RH RH New 0.12% +0.12 TAL Tal Education Group- ADR New 0.12% +0.12 DASH DoorDash Inc. Class A New 0.11% +0.11 TCOM Trip.com Group Ltd.-ADR Add +92.3% 0.34% +0.06 META Meta Platforms Inc. Class A Add +75.2% 6.96% −0.03 TSM Taiwan Semiconductor-SP ADR Add +9.5% 8.66% −3.86
Notes & Other Activity Q3 2024 → Q4 2024 Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 23 $5.0B SNDK, STX, WDC, MU, LITE Q1 2026 26 $4.8B LITE, COHR, SNDK, GLW, MU Q4 2025 38 $2.5B NVDA, MU, LITE, RDDT, GOOG Q3 2025 39 $2.2B NVDA, RBLX, APP, NIO, HOOD Q2 2025 31 $1.4B TSM, NVDA, AVGO, META, AMZN Q1 2025 26 $846.8M TPR, META, AMZN, BABA, AS Q4 2024 39 $898.6M NVDA, AS, TSM, AMZN, META Q3 2024 29 $499.2M TSM, JD, EDU, NVDA, ETN Q2 2024 24 $1.0B EDU, PDD, TSM, MU, AMZN Q1 2024 28 $983.9M EDU, PDD, NVDA, TSM, MSFT