WT Asset Management Ltd

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 28, 2025), WT Asset Management Ltd reported 26 stock positions worth $846.8 million. Its top holding was Tapestry (TPR) at 13.1% of the portfolio, followed by Meta Platforms Class A (META, 12.2%) and Amazon.com (AMZN, 9.5%). Compared with Q4 2024, it opened 14 new positions, sold out of 27, added to 9 and reduced 3. The biggest buy was Tapestry (TPR, shares +141%) and the biggest sale an exit from Nvidia (NVDA).

Most Recent 13F
Q2 2026
Location
HONG KONG, K3
CIK
0001780365
Portfolio Value
$846.8M (Q1 2025)
SEC Filing
0001085146-25-002366 ↗ filed Apr 28, 2025

Holdings Value

0$2.0B$4.0B$6.0B Q1 2024: $983.9M Q1 2024 Q2 2024: $1.0B Q2 2024 Q3 2024: $499.2M Q3 2024 Q4 2024: $898.6M Q4 2024 Q1 2025: $846.8M $846.8M Q1 2025 Q2 2025: $1.4B Q2 2025 Q3 2025: $2.2B Q3 2025 Q4 2025: $2.5B Q4 2025 Q1 2026: $4.8B Q1 2026 Q2 2026: $5.0B Q2 2026

Holdings 26 stocks · $846.8M
TPR Tapestry Inc. 13.09% 1,574,634 $110.9M Add +140.6%
META Meta Platforms Inc. Class A 12.22% 179,501 $103.5M Add +68.0%
AMZN Amazon.com Inc. 9.49% 422,537 $80.4M Add +25.6%
BABA Alibaba Group Holding-SP ADR 8.02% 513,722 $67.9M Reduce -19.0%
AS Amer Sports Inc. 7.63% 2,416,896 $64.6M Reduce -33.0%
NFLX Netflix Inc. 6.81% 61,800 $57.6M New
PDD PDD Holdings Inc. 6.14% 439,250 $52.0M New
SAP Sap SE-Sponsored ADR 4.16% 131,233 $35.2M Add +87.2%
SPOT Spotify Technology SA 3.15% 48,500 $26.7M Add +44.8%
FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 3.06% 253,100 $25.9M Add +68.8%
AAPL Apple Inc. 2.99% 114,100 $25.3M New
NTES Netease Inc.-ADR 2.88% 237,206 $24.4M Add +706.5%
APP AppLovin Corp. Class A 2.87% 91,863 $24.3M New
V Visa Inc. Class A 2.61% 63,100 $22.1M New
TQQQ Proshares Ultrapro QQQ 2.50% 370,000 $21.2M New
SE Sea Ltd.-ADR 2.49% 161,900 $21.1M New
LX Lexinfintech Holdings L-ADR 2.42% 2,030,028 $20.5M New
PGR Progressive Corp. 2.01% 60,000 $17.0M New
DECK Deckers Outdoor Corp. 1.85% 139,800 $15.6M New
ONON On Holding AG Class A filed as ON HLDG AG 1.15% 222,100 $9.8M Add +67.0%
YMM Full Truck Alliance -SPN ADR 1.05% 698,939 $8.9M Add +25.1%
MNDY Monday.com Ltd. 1.02% 35,629 $8.7M New
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 0.24% 100,000 $2.0M Reduce -95.7%
MPWR Monolithic Power Systems Inc. 0.07% 1,000 $580K New
ZK Zeekr Intelligent Techno-ADR 0.05% 18,000 $434K New
QBTS D-Wave Quantum Inc. 0.01% 15,000 $114K New
Other holdings (2): bonds, preferreds, convertibles and warrants · $9.1M (not counted above)
SecurityClassShares / PrincipalValueChange
SEA LTD (SEALTD 0.25 09/15/26) NOTE 0.250% 9/1 · principal 9,258,000$8.7MNo change
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal 500,000$458KNew

Total filed on the 13F, all lines: $855.9M.

Portfolio Sells Q4 2024 → Q1 2025
NVDA Nvidia Corp. Sold out 0.00% −15.47
TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −8.66
CRM Salesforce Inc. Sold out 0.00% −5.67
GEV GE Vernova Inc. Sold out 0.00% −4.99
NOW ServiceNow Inc. Sold out 0.00% −4.61
BEKE Ke Holdings Inc.-ADR Reduce -95.7% 0.24% −4.53
AS Amer Sports Inc. Reduce -33.0% 7.63% −3.59
DUOL Duolingo Sold out 0.00% −2.26
TSLA Tesla Inc. Sold out 0.00% −1.70
ZM Zoom Communications Inc. Sold out 0.00% −1.64
CMI Cummins Inc. Sold out 0.00% −1.27
RDDT Reddit Inc. Class A Sold out 0.00% −0.91
EDU New Oriental Educatio-SP ADR Sold out 0.00% −0.89
SN Sharkninja Inc. Sold out 0.00% −0.43
ANET Arista Networks Inc. Sold out 0.00% −0.37
TCOM Trip.com Group Ltd.-ADR Sold out 0.00% −0.34
KC Kingsoft Cloud Holdings-ADR Sold out 0.00% −0.29
AFRM Affirm Holdings Inc. Sold out 0.00% −0.25
VRT Vertiv Holdings Co. Class A Sold out 0.00% −0.20
ETN Eaton Corp. PLC Sold out 0.00% −0.18
DOCU Docusign Inc. Sold out 0.00% −0.17
HOOD Robinhood Markets Inc. Class A Sold out 0.00% −0.17
GLW Corning Inc. Sold out 0.00% −0.16
SMTC Semtech Corp. Sold out 0.00% −0.14
ULTA Ulta Beauty Inc. Sold out 0.00% −0.13
FIVE Five Below Sold out 0.00% −0.13
RH RH Sold out 0.00% −0.12
TAL Tal Education Group- ADR Sold out 0.00% −0.12
DASH DoorDash Inc. Class A Sold out 0.00% −0.11
BABA Alibaba Group Holding-SP ADR Reduce -19.0% 8.02% +2.04

Portfolio Buys Q4 2024 → Q1 2025
TPR Tapestry Inc. Add +140.6% 13.09% +8.33
NFLX Netflix Inc. New 6.81% +6.81
PDD PDD Holdings Inc. New 6.14% +6.14
META Meta Platforms Inc. Class A Add +68.0% 12.22% +5.26
AAPL Apple Inc. New 2.99% +2.99
APP AppLovin Corp. Class A New 2.87% +2.87
V Visa Inc. Class A New 2.61% +2.61
NTES Netease Inc.-ADR Add +706.5% 2.88% +2.59
TQQQ Proshares Ultrapro QQQ New 2.50% +2.50
SE Sea Ltd.-ADR New 2.49% +2.49
LX Lexinfintech Holdings L-ADR New 2.42% +2.42
SAP Sap SE-Sponsored ADR Add +87.2% 4.16% +2.24
PGR Progressive Corp. New 2.01% +2.01
DECK Deckers Outdoor Corp. New 1.85% +1.85
FUTU Futu Holdings Ltd.-ADR Add +68.8% 3.06% +1.72
SPOT Spotify Technology SA Add +44.8% 3.15% +1.48
AMZN Amazon.com Inc. Add +25.6% 9.49% +1.28
MNDY Monday.com Ltd. New 1.02% +1.02
YMM Full Truck Alliance -SPN ADR Add +25.1% 1.05% +0.38
ONON On Holding AG Class A Add +67.0% 1.15% +0.34
MPWR Monolithic Power Systems Inc. New 0.07% +0.07
ZK Zeekr Intelligent Techno-ADR New 0.05% +0.05
QBTS D-Wave Quantum Inc. New 0.01% +0.01

Notes & Other Activity Q4 2024 → Q1 2025
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal New 500,000 $458K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 23$5.0BSNDK, STX, WDC, MU, LITE
Q1 2026 26$4.8BLITE, COHR, SNDK, GLW, MU
Q4 2025 38$2.5BNVDA, MU, LITE, RDDT, GOOG
Q3 2025 39$2.2BNVDA, RBLX, APP, NIO, HOOD
Q2 2025 31$1.4BTSM, NVDA, AVGO, META, AMZN
Q1 2025 26$846.8MTPR, META, AMZN, BABA, AS
Q4 2024 39$898.6MNVDA, AS, TSM, AMZN, META
Q3 2024 29$499.2MTSM, JD, EDU, NVDA, ETN
Q2 2024 24$1.0BEDU, PDD, TSM, MU, AMZN
Q1 2024 28$983.9MEDU, PDD, NVDA, TSM, MSFT