Filed: 8/14/2025ACC: 0000950123-25-008345
📋 What this filing means
HSG HOLDING LTD filed this quarterly 13F‑HR report disclosing 19 equity positions with a total reported market value of $1.94B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
19
Positions
$1.94B
Total AUM (reported)
60.80M
Total Shares
Allocation by class
SPONSORED ADS$1.58B81.2%
SPON ADS CL A$130.71M6.7%
ORD SHS$113.11M5.8%
SPON ADS$34.35M1.8%
SPONSORED ADR$32.65M1.7%
ADS$26.45M1.4%
COM$14.44M0.7%
Portfolio Concentration
Top 3$1.67B85.9%
4–10$239.79M12.4%
11–25$34.20M1.8%
Top 3 weight
85.9%
Top 10 weight
98.2%
Voting Authority Distribution
Total shares with voting rights: 60.80M
Sole
Full voting authority
60.80M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole0
Shared0
Other19
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings19
Rows:
PDD HOLDINGS INC
DFNDShares13.60M
TypeSH
Market value$1.42B
73.32%
Sole
13.60M
Shared
0.00
None
0.00
FUTU HLDGS LTD
DFNDShares1.06M
TypeSH
Market value$130.71M
6.74%
Sole
1.06M
Shared
0.00
None
0.00
WEBULL CORP
DFNDShares9.46M
TypeSH
Market value$113.11M
5.83%
Sole
9.46M
Shared
0.00
None
0.00
PONY AI INC
DFNDShares5.92M
TypeSH
Market value$78.18M
4.03%
Sole
5.92M
Shared
0.00
None
0.00
KE HLDGS INC
DFNDShares1.94M
TypeSH
Market value$34.40M
1.77%
Sole
1.94M
Shared
0.00
None
0.00
NOAH HLDGS LTD
DFNDShares2.88M
TypeSH
Market value$34.35M
1.77%
Sole
2.88M
Shared
0.00
None
0.00
KANZHUN LIMITED
DFNDShares1.90M
TypeSH
Market value$33.90M
1.75%
Sole
1.90M
Shared
0.00
None
0.00
DINGDONG CAYMAN LTD
DFNDShares11.14M
TypeSH
Market value$22.51M
1.16%
Sole
11.14M
Shared
0.00
None
0.00
51TALK ONLINE EDUCATION GROU
DFNDShares667.22K
TypeSH
Market value$22.02M
1.13%
Sole
667.22K
Shared
0.00
None
0.00
ARRIVENT BIOPHARMA INC
DFNDShares663.31K
TypeSH
Market value$14.44M
0.74%
Sole
663.31K
Shared
0.00
None
0.00
LOTUS TECHNOLOGY INC
DFNDShares4.83M
TypeSH
Market value$10.64M
0.55%
Sole
4.83M
Shared
0.00
None
0.00
TH INTERNATIONAL LIMITED
DFNDShares2.90M
TypeSH
Market value$8.60M
0.44%
Sole
2.90M
Shared
0.00
None
0.00
STRUCTURE THERAPEUTICS INC
DFNDShares266.06K
TypeSH
Market value$5.52M
0.28%
Sole
266.06K
Shared
0.00
None
0.00
BITDEER TECHNOLOGIES GROUP
DFNDShares293.73K
TypeSH
Market value$3.37M
0.17%
Sole
293.73K
Shared
0.00
None
0.00
ADAGENE INC
DFNDShares1.34M
TypeSH
Market value$2.62M
0.13%
Sole
1.34M
Shared
0.00
None
0.00
LYELL IMMUNOPHARMA INC
DFNDShares152.30K
TypeSH
Market value$1.35M
0.07%
Sole
152.30K
Shared
0.00
None
0.00
BARINTHUS BIOTHERAPEUTICS PL
DFNDShares1.42M
TypeSH
Market value$1.32M
0.07%
Sole
1.42M
Shared
0.00
None
0.00
BIT MINING LIMITED
DFNDShares350.43K
TypeSH
Market value$718.3K
0.04%
Sole
350.43K
Shared
0.00
None
0.00
BURNING ROCK BIOTECH LTD
DFNDShares21.21K
TypeSH
Market value$67.0K
<0.01%
Sole
21.21K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
PDD HOLDINGS INCDFND | SPONSORED ADS | 13.60M | SH | $1.42B 73.32% | 13.60M | 0.00 | 0.00 |
FUTU HLDGS LTDDFND | SPON ADS CL A | 1.06M | SH | $130.71M 6.74% | 1.06M | 0.00 | 0.00 |
WEBULL CORPDFND | ORD SHS | 9.46M | SH | $113.11M 5.83% | 9.46M | 0.00 | 0.00 |
PONY AI INCDFND | SPONSORED ADS | 5.92M | SH | $78.18M 4.03% | 5.92M | 0.00 | 0.00 |
KE HLDGS INCDFND | SPONSORED ADS | 1.94M | SH | $34.40M 1.77% | 1.94M | 0.00 | 0.00 |
NOAH HLDGS LTDDFND | SPON ADS | 2.88M | SH | $34.35M 1.77% | 2.88M | 0.00 | 0.00 |
KANZHUN LIMITEDDFND | SPONSORED ADS | 1.90M | SH | $33.90M 1.75% | 1.90M | 0.00 | 0.00 |
DINGDONG CAYMAN LTDDFND | ADS | 11.14M | SH | $22.51M 1.16% | 11.14M | 0.00 | 0.00 |
51TALK ONLINE EDUCATION GROUDFND | SPONSORED ADR | 667.22K | SH | $22.02M 1.13% | 667.22K | 0.00 | 0.00 |
ARRIVENT BIOPHARMA INCDFND | COM | 663.31K | SH | $14.44M 0.74% | 663.31K | 0.00 | 0.00 |
LOTUS TECHNOLOGY INCDFND | SPONSORED ADR | 4.83M | SH | $10.64M 0.55% | 4.83M | 0.00 | 0.00 |
TH INTERNATIONAL LIMITEDDFND | SHS NEW | 2.90M | SH | $8.60M 0.44% | 2.90M | 0.00 | 0.00 |
STRUCTURE THERAPEUTICS INCDFND | SPONSORED ADS | 266.06K | SH | $5.52M 0.28% | 266.06K | 0.00 | 0.00 |
BITDEER TECHNOLOGIES GROUPDFND | CL A ORD SHS | 293.73K | SH | $3.37M 0.17% | 293.73K | 0.00 | 0.00 |
ADAGENE INCDFND | ADS | 1.34M | SH | $2.62M 0.13% | 1.34M | 0.00 | 0.00 |
LYELL IMMUNOPHARMA INCDFND | COM NEW | 152.30K | SH | $1.35M 0.07% | 152.30K | 0.00 | 0.00 |
BARINTHUS BIOTHERAPEUTICS PLDFND | ADS | 1.42M | SH | $1.32M 0.07% | 1.42M | 0.00 | 0.00 |
BIT MINING LIMITEDDFND | SPON ADR | 350.43K | SH | $718.3K 0.04% | 350.43K | 0.00 | 0.00 |
BURNING ROCK BIOTECH LTDDFND | SPONSORED ADS | 21.21K | SH | $67.0K <0.01% | 21.21K | 0.00 | 0.00 |