WT Asset Management Ltd

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), WT Asset Management Ltd reported 39 stock positions worth $2.2 billion. Its top holding was Nvidia (NVDA) at 15.5% of the portfolio, followed by Roblox Class A (RBLX, 7.3%) and AppLovin Class A (APP, 6.9%). Compared with Q2 2025, it opened 24 new positions, sold out of 16, added to 9 and reduced 6. The biggest buy was a new position in Nio Inc. - ADR (NIO) and the biggest sale Taiwan Semiconductor-SP ADR (TSM, shares −63%).

Most Recent 13F
Q2 2026
Location
HONG KONG, K3
CIK
0001780365
Portfolio Value
$2.2B (Q3 2025)
SEC Filing
0001780365-25-000004 ↗ filed Nov 10, 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 Q2 2025 Q3 2025: $2.2B $2.2B Q3 2025 Q4 2025: $2.5B Q4 2025 Q1 2026: $4.8B Q1 2026 Q2 2026: $5.0B Q2 2026

Holdings 39 stocks · $2.2B
NVDA Nvidia Corp. 15.52% 1,793,122 $334.6M Add +37.8%
RBLX Roblox Corp. Class A 7.34% 1,142,280 $158.2M Add +31.2%
APP AppLovin Corp. Class A 6.89% 206,800 $148.6M Add +138.3%
NIO Nio Inc. - ADR 6.59% 18,650,894 $142.1M New
HOOD Robinhood Markets Inc. Class A 5.98% 899,600 $128.8M New
TSM Taiwan Semiconductor-SP ADR 5.83% 450,089 $125.7M Reduce -62.6%
GOOG Alphabet Inc. Class C 5.65% 500,317 $121.9M New
AS Amer Sports Inc. 5.64% 3,499,062 $121.6M Add +221.6%
LITE Lumentum Holdings Inc. 5.36% 710,208 $115.6M Add +170.0%
PDD PDD Holdings Inc. 4.64% 756,540 $100.0M Add +15030.8%
RDDT Reddit Inc. Class A 4.31% 404,250 $93.0M New
TPR Tapestry Inc. 4.22% 803,818 $91.0M Add +128.1%
WDC Western Digital Corp. 2.78% 499,300 $59.9M New
VRT Vertiv Holdings Co. Class A 2.36% 337,700 $50.9M Add +8.6%
META Meta Platforms Inc. Class A 2.25% 65,887 $48.4M Reduce -59.0%
BABA Alibaba Group Holding-SP ADR 2.16% 260,000 $46.5M New
TER Teradyne Inc. 1.95% 304,674 $41.9M New
CRDO Credo Technology Group Holdi 1.56% 230,400 $33.5M New
SHOP Shopify Inc. Class A 1.53% 222,200 $33.0M New
BE Bloom Energy Corp. Class A 1.18% 301,500 $25.5M New
CVNA Carvana Co. 1.07% 61,100 $23.0M New
STX Seagate Technology Holdings 1.04% 95,000 $22.4M New
COHR Coherent Corp. 0.94% 187,400 $20.2M New
ORCL Oracle Corp. 0.76% 58,536 $16.5M Reduce -77.2%
GLW Corning Inc. 0.38% 100,000 $8.2M New
TSLA Tesla Inc. 0.33% 16,000 $7.1M New
AAOI Applied Optoelectronics Inc. 0.23% 194,351 $5.0M New
SNDK Sandisk Corp. 0.21% 40,000 $4.5M New
VNET Vnet Group Inc.-ADR 0.19% 400,000 $4.1M Add +700.0%
NTES Netease Inc.-ADR 0.17% 24,014 $3.6M New
CELH Celsius Holdings Inc. 0.14% 51,400 $3.0M New
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.13% 33,000 $2.9M New
TCOM Trip.com Group Ltd.-ADR 0.13% 37,736 $2.8M New
APH Amphenol Corp. Class A 0.11% 20,000 $2.5M New
NKE Nike Inc. Class B 0.11% 35,000 $2.4M Reduce -90.5%
BTI British American Tob-SP ADR 0.11% 45,000 $2.4M Reduce -94.4%
KLAR Klarna Group PLC 0.09% 55,000 $2.0M New
TME Tencent Music Entertainm-ADR 0.05% 44,500 $1.0M New
HSAI Hesai Group 0.03% 20,000 $562K Reduce -94.2%
Other holdings (4): bonds, preferreds, convertibles and warrants · $11.1M (not counted above)
SecurityClassShares / PrincipalValueChange
SEA LTD (SEALTD 0.25 09/15/26) NOTE 0.250% 9/1 · principal 9,258,000$8.9MNo change
TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) NOTE 0.750% 6/1 · principal 699,000$896KNo change
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal 347,000$640KNo change
COINBASE GLOBAL INC (COIN 0.25 04/01/30) NOTE 0.250% 4/0 · principal 500,000$624KNo change

Total filed on the 13F, all lines: $2.2B.

Portfolio Sells Q2 2025 → Q3 2025
TSM Taiwan Semiconductor-SP ADR Reduce -62.6% 5.83% −13.41
AVGO Broadcom Inc. Sold out 0.00% −10.56
AMZN Amazon.com Inc. Sold out 0.00% −7.47
META Meta Platforms Inc. Class A Reduce -59.0% 2.25% −6.14
ORCL Oracle Corp. Reduce -77.2% 0.76% −3.19
SE Sea Ltd.-ADR Sold out 0.00% −3.16
GEV GE Vernova Inc. Sold out 0.00% −2.82
BTI British American Tob-SP ADR Reduce -94.4% 0.11% −2.56
AMD Advanced Micro Devices Sold out 0.00% −2.11
SPOT Spotify Technology SA Sold out 0.00% −1.89
NKE Nike Inc. Class B Reduce -90.5% 0.11% −1.74
HSAI Hesai Group Reduce -94.2% 0.03% −0.51
YMM Full Truck Alliance -SPN ADR Sold out 0.00% −0.48
CLS Celestica Inc. Sold out 0.00% −0.39
ZETA Zeta Global Holdings Corp. Class A Sold out 0.00% −0.36
ELF Elf Beauty Inc. Sold out 0.00% −0.32
CRWD CrowdStrike Holdings Inc. Class A Sold out 0.00% −0.18
CAR Avis Budget Group Inc. Sold out 0.00% −0.17
ZS Zscaler Inc. Sold out 0.00% −0.16
BA The Boeing Co. Sold out 0.00% −0.15
QFIN Qfin Holdings Inc.-ADR Sold out 0.00% −0.11
YSG Yatsen Holding Ltd.-ADR Sold out 0.00% −0.10

Portfolio Buys Q2 2025 → Q3 2025
NIO Nio Inc. - ADR New 6.59% +6.59
HOOD Robinhood Markets Inc. Class A New 5.98% +5.98
GOOG Alphabet Inc. Class C New 5.65% +5.65
APP AppLovin Corp. Class A Add +138.3% 6.89% +4.75
PDD PDD Holdings Inc. Add +15030.8% 4.64% +4.60
RDDT Reddit Inc. Class A New 4.31% +4.31
LITE Lumentum Holdings Inc. Add +170.0% 5.36% +3.60
WDC Western Digital Corp. New 2.78% +2.78
AS Amer Sports Inc. Add +221.6% 5.64% +2.66
BABA Alibaba Group Holding-SP ADR New 2.16% +2.16
TPR Tapestry Inc. Add +128.1% 4.22% +2.04
TER Teradyne Inc. New 1.95% +1.95
CRDO Credo Technology Group Holdi New 1.56% +1.56
SHOP Shopify Inc. Class A New 1.53% +1.53
BE Bloom Energy Corp. Class A New 1.18% +1.18
CVNA Carvana Co. New 1.07% +1.07
STX Seagate Technology Holdings New 1.04% +1.04
NVDA Nvidia Corp. Add +37.8% 15.52% +1.01
COHR Coherent Corp. New 0.94% +0.94
RBLX Roblox Corp. Class A Add +31.2% 7.34% +0.87
GLW Corning Inc. New 0.38% +0.38
TSLA Tesla Inc. New 0.33% +0.33
AAOI Applied Optoelectronics Inc. New 0.23% +0.23
SNDK Sandisk Corp. New 0.21% +0.21
NTES Netease Inc.-ADR New 0.17% +0.17
VNET Vnet Group Inc.-ADR Add +700.0% 0.19% +0.17
CELH Celsius Holdings Inc. New 0.14% +0.14
EL Estee Lauder Companies Class A New 0.13% +0.13
TCOM Trip.com Group Ltd.-ADR New 0.13% +0.13
APH Amphenol Corp. Class A New 0.11% +0.11
KLAR Klarna Group PLC New 0.09% +0.09
TME Tencent Music Entertainm-ADR New 0.05% +0.05
VRT Vertiv Holdings Co. Class A Add +8.6% 2.36% −0.46

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