Yong Rong (HK) Asset Management Ltd In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 30, 2026), Yong Rong (HK) Asset Management Ltd reported 17 stock positions worth $328.6 million . Its top holding was Circle Internet (CRCL) at 24.0% of the portfolio, followed by Alphabet Class C (GOOG, 14.3% ) and Superx AI Technology (SUPX, 13.1% ). Compared with Q3 2025, it opened 9 new positions, sold out of 6, added to 2 and reduced 3. The biggest buy was Circle Internet (CRCL, shares +312% ) and the biggest sale an exit from Nvidia (NVDA).
Location SHEUNG WAN, K3
CIK 0001738071
Portfolio Value $328.6M (Q4 2025) Holdings 17 stocks · $328.6M 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 2025 CRCL Circle Internet Group Inc. 994,200 $78.8M Add +311.7% GOOG Alphabet Inc. Class C 149,800 $47.0M Reduce -25.1% SUPX Superx AI Technology Ltd. 2,748,088 $43.1M Add +11.3% BULL Webull Corp. 5,000,000 $38.9M New ETHA iShares Ethereum Trust ETF 1,467,100 $32.9M Reduce -9.2% XPEV Xpeng Inc. - ADR 1,588,000 $32.2M New SIL Global X Silver Miners ETF 120,000 $10.0M No change RBRK Rubrik Inc. Class A 100,000 $7.6M Reduce -66.7% SUNRISE NEW ENERGY CO LTD 7,000,000 $6.9M New SNDK Sandisk Corp. 25,000 $5.9M New PDD PDD Holdings Inc. 50,000 $5.7M New GDX Vaneck Gold Miners ETF 50,000 $4.3M No change ISPR Ispire Technology Inc. 1,504,147 $4.2M No change XME SS SPDR S&P Metals Mining 30,000 $3.1M New BCI Abrdn Bloomberg All Commodit filed as ABRDN ETFS 150,000 $2.9M New XLE SS Energy Select Sector 60,000 $2.7M New ACMR Acm Research Inc. Class A 60,000 $2.4M New
Options reported separately and not counted above: APPLOVIN CORP puts ($1.1M), ISHARES ETHEREUM TR calls ($20K), ISHARES BITCOIN TRUST ETF calls ($10K), CIRCLE INTERNET GROUP INC calls ($4K), ROBINHOOD MKTS INC calls ($4K), STRATEGY INC calls ($3K).
Portfolio Sells Q3 2025 → Q4 2025 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 2025 % Of Portfolio Change To Portfolio ▲ NVDA Nvidia Corp. Sold out 0.00% −11.76 ETHU 2X Ether ETF Sold out 0.00% −7.64 PYPL PayPal Holdings Inc. Sold out 0.00% −6.74 RBRK Rubrik Inc. Class A Reduce -66.7% 2.33% −2.86 UBER Uber Technologies Inc. Sold out 0.00% −1.98 U Unity Software Inc. Sold out 0.00% −1.68 ETHA iShares Ethereum Trust ETF Reduce -9.2% 10.01% −0.68 SMMT Summit Therapeutics Inc. Sold out 0.00% −0.43 GOOG Alphabet Inc. Class C Reduce -25.1% 14.30% +4.07
Portfolio Buys Q3 2025 → Q4 2025 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 2025 % Of Portfolio Change To Portfolio ▼ CRCL Circle Internet Group Inc. Add +311.7% 23.99% +17.26 BULL Webull Corp. New 11.82% +11.82 XPEV Xpeng Inc. - ADR New 9.80% +9.80 SUNRISE NEW ENERGY CO LTD New 2.09% +2.09 SNDK Sandisk Corp. New 1.81% +1.81 PDD PDD Holdings Inc. New 1.73% +1.73 XME SS SPDR S&P Metals Mining New 0.95% +0.95 BCI Abrdn Bloomberg All Commodit New 0.89% +0.89 XLE SS Energy Select Sector New 0.82% +0.82 ACMR Acm Research Inc. Class A New 0.72% +0.72 SUPX Superx AI Technology Ltd. Add +11.3% 13.11% −20.38
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ NVIDIA CORPORATION call Sold out 78,000 $5.4Mbefore exit RUBRIK INC. call Sold out 5,000 $1.4Mbefore exit APPLOVIN CORP put New 2,000 $1.1M CAMECO CORP call Sold out 6,000 $432Kbefore exit UBER TECHNOLOGIES INC call Sold out 15,000 $420Kbefore exit ISHARES ETHEREUM TR call Reduce -33.3% 20,000 $20K ISHARES BITCOIN TRUST ETF call Reduce -60.0% 10,000 $10K CIRCLE INTERNET GROUP INC call Add +126.5% 4,000 $4K ROBINHOOD MKTS INC call New 4,000 $4K STRATEGY INC call New 3,000 $3K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 7 $117.1M TSM, CRCL, PDD, GDX, SUNRISE NEW ENERGY CO LTD Q1 2026 8 $218.5M CRCL, MU, KORU, SUPX, SNDK Q4 2025 17 $328.6M CRCL, GOOG, SUPX, BULL, ETHA Q3 2025 14 $475.8M SUPX, NVDA, ETHA, GOOG, ETHU Q2 2025 17 $414.5M NVDA, FUTU, PDD, HIMS, COIN Q1 2025 23 $428.0M FUTU, HIMS, HOOD, ZETA, INOD Q4 2024 16 $228.6M BTDR, HIMS, AAOI, LEU, GDX Q3 2024 20 $342.1M FUTU, MSTR, COIN, TSLA, META Q2 2024 14 $289.4M PDD, NVDA, META, AAPL, TSM Q1 2024 18 $374.9M NVDA, META, TSLA, IBIT, PDD