WT Asset Management Ltd

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 21, 2025), WT Asset Management Ltd reported 31 stock positions worth $1.4 billion. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 19.2% of the portfolio, followed by Nvidia (NVDA, 14.5%) and Broadcom (AVGO, 10.6%). Compared with Q1 2025, it opened 22 new positions, sold out of 17, added to 2 and reduced 7. The biggest buy was a new position in Taiwan Semiconductor-SP ADR (TSM) and the biggest sale Tapestry (TPR, shares −78%).

Most Recent 13F
Q2 2026
Location
HONG KONG, K3
CIK
0001780365
Portfolio Value
$1.4B (Q2 2025)
SEC Filing
0001085146-25-003991 ↗ filed Jul 21, 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 Q1 2025 Q2 2025: $1.4B $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 31 stocks · $1.4B
TSM Taiwan Semiconductor-SP ADR 19.24% 1,202,926 $272.5M New
NVDA Nvidia Corp. 14.51% 1,300,950 $205.5M New
AVGO Broadcom Inc. 10.56% 542,300 $149.5M New
META Meta Platforms Inc. Class A 8.38% 160,800 $118.7M Reduce -10.4%
AMZN Amazon.com Inc. 7.47% 482,400 $105.8M Add +14.2%
RBLX Roblox Corp. Class A 6.47% 870,910 $91.6M New
ORCL Oracle Corp. 3.96% 256,300 $56.0M New
SE Sea Ltd.-ADR 3.16% 280,200 $44.8M Add +73.1%
AS Amer Sports Inc. 2.98% 1,088,201 $42.2M Reduce -55.0%
GEV GE Vernova Inc. 2.82% 75,528 $40.0M New
VRT Vertiv Holdings Co. Class A 2.82% 311,000 $39.9M New
BTI British American Tob-SP ADR 2.67% 799,700 $37.8M New
TPR Tapestry Inc. 2.19% 352,440 $30.9M Reduce -77.6%
APP AppLovin Corp. Class A 2.15% 86,800 $30.4M Reduce -5.5%
AMD Advanced Micro Devices 2.11% 210,729 $29.9M New
SPOT Spotify Technology SA 1.89% 34,802 $26.7M Reduce -28.2%
NKE Nike Inc. Class B 1.85% 369,300 $26.2M New
LITE Lumentum Holdings Inc. 1.77% 263,000 $25.0M New
HSAI Hesai Group 0.54% 346,389 $7.6M New
YMM Full Truck Alliance -SPN ADR 0.48% 576,195 $6.8M Reduce -17.6%
CLS Celestica Inc. 0.39% 35,000 $5.5M New
ZETA Zeta Global Holdings Corp. Class A 0.36% 328,900 $5.1M New
ELF Elf Beauty Inc. 0.32% 36,500 $4.5M New
CRWD CrowdStrike Holdings Inc. Class A 0.18% 5,000 $2.5M New
CAR Avis Budget Group Inc. 0.17% 14,200 $2.4M New
ZS Zscaler Inc. 0.16% 7,000 $2.2M New
BA The Boeing Co. 0.15% 10,000 $2.1M New
QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC 0.11% 35,000 $1.5M New
YSG Yatsen Holding Ltd.-ADR 0.10% 144,948 $1.4M New
PDD PDD Holdings Inc. 0.04% 5,000 $523K Reduce -98.9%
VNET Vnet Group Inc.-ADR 0.02% 50,000 $345K New
Other holdings (4): bonds, preferreds, convertibles and warrants · $10.6M (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
TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) NOTE 0.750% 6/1 · principal 699,000$774KNew
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal 500,000$654KNo change
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal 347,000$440KNew

Total filed on the 13F, all lines: $1.4B.

Portfolio Sells Q1 2025 → Q2 2025
TPR Tapestry Inc. Reduce -77.6% 2.19% −10.91
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −8.02
NFLX Netflix Inc. Sold out 0.00% −6.81
PDD PDD Holdings Inc. Reduce -98.9% 0.04% −6.10
AS Amer Sports Inc. Reduce -55.0% 2.98% −4.65
SAP Sap SE-Sponsored ADR Sold out 0.00% −4.16
META Meta Platforms Inc. Class A Reduce -10.4% 8.38% −3.84
FUTU Futu Holdings Ltd.-ADR Sold out 0.00% −3.06
AAPL Apple Inc. Sold out 0.00% −2.99
NTES Netease Inc.-ADR Sold out 0.00% −2.88
V Visa Inc. Class A Sold out 0.00% −2.61
TQQQ Proshares Ultrapro QQQ Sold out 0.00% −2.50
LX Lexinfintech Holdings L-ADR Sold out 0.00% −2.42
PGR Progressive Corp. Sold out 0.00% −2.01
DECK Deckers Outdoor Corp. Sold out 0.00% −1.85
SPOT Spotify Technology SA Reduce -28.2% 1.89% −1.26
ONON On Holding AG Class A Sold out 0.00% −1.15
MNDY Monday.com Ltd. Sold out 0.00% −1.02
APP AppLovin Corp. Class A Reduce -5.5% 2.15% −0.73
YMM Full Truck Alliance -SPN ADR Reduce -17.6% 0.48% −0.57
BEKE Ke Holdings Inc.-ADR Sold out 0.00% −0.24
MPWR Monolithic Power Systems Inc. Sold out 0.00% −0.07
ZK Zeekr Intelligent Techno-ADR Sold out 0.00% −0.05
QBTS D-Wave Quantum Inc. Sold out 0.00% −0.01

Portfolio Buys Q1 2025 → Q2 2025
TSM Taiwan Semiconductor-SP ADR New 19.24% +19.24
NVDA Nvidia Corp. New 14.51% +14.51
AVGO Broadcom Inc. New 10.56% +10.56
RBLX Roblox Corp. Class A New 6.47% +6.47
ORCL Oracle Corp. New 3.96% +3.96
GEV GE Vernova Inc. New 2.82% +2.82
VRT Vertiv Holdings Co. Class A New 2.82% +2.82
BTI British American Tob-SP ADR New 2.67% +2.67
AMD Advanced Micro Devices New 2.11% +2.11
NKE Nike Inc. Class B New 1.85% +1.85
LITE Lumentum Holdings Inc. New 1.77% +1.77
SE Sea Ltd.-ADR Add +73.1% 3.16% +0.67
HSAI Hesai Group New 0.54% +0.54
CLS Celestica Inc. New 0.39% +0.39
ZETA Zeta Global Holdings Corp. Class A New 0.36% +0.36
ELF Elf Beauty Inc. New 0.32% +0.32
CRWD CrowdStrike Holdings Inc. Class A New 0.18% +0.18
CAR Avis Budget Group Inc. New 0.17% +0.17
ZS Zscaler Inc. New 0.16% +0.16
BA The Boeing Co. New 0.15% +0.15
QFIN Qfin Holdings Inc.-ADR New 0.11% +0.11
YSG Yatsen Holding Ltd.-ADR New 0.10% +0.10
VNET Vnet Group Inc.-ADR New 0.02% +0.02
AMZN Amazon.com Inc. Add +14.2% 7.47% −2.02

Notes & Other Activity Q1 2025 → Q2 2025
TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) NOTE 0.750% 6/1 · principal New 699,000 $774K
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal New 347,000 $440K

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