Filed: 11/14/2025ACC: 0001193125-25-282908
📋 What this filing means
HSG HOLDING LTD filed this quarterly 13F‑HR report disclosing 19 equity positions with a total reported market value of $1.92B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
19
Positions
$1.92B
Total AUM (reported)
51.01M
Total Shares
Allocation by class
SPONSORED ADS$1.59B82.6%
SPON ADS CL A$125.27M6.5%
ORD SHS$106.43M5.5%
SPONSORED ADR$45.69M2.4%
ADS$25.00M1.3%
COM$12.99M0.7%
SHS NEW$7.05M0.4%
Portfolio Concentration
Top 3$1.72B89.3%
4–10$177.36M9.2%
11–25$28.75M1.5%
Top 3 weight
89.3%
Top 10 weight
98.5%
Voting Authority Distribution
Total shares with voting rights: 51.01M
Sole
Full voting authority
51.01M
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
DFNDShares11.35M
TypeSH
Market value$1.48B
77.21%
Sole
11.35M
Shared
0.00
None
0.00
FUTU HLDGS LTD
DFNDShares740.35K
TypeSH
Market value$125.27M
6.52%
Sole
740.35K
Shared
0.00
None
0.00
WEBULL CORP
DFNDShares9.55M
TypeSH
Market value$106.43M
5.54%
Sole
9.55M
Shared
0.00
None
0.00
KANZHUN LIMITED
DFNDShares1.90M
TypeSH
Market value$41.78M
2.17%
Sole
1.90M
Shared
0.00
None
0.00
51TALK ONLINE EDUCATION GROU
DFNDShares667.22K
TypeSH
Market value$36.60M
1.90%
Sole
667.22K
Shared
0.00
None
0.00
KE HLDGS INC
DFNDShares1.94M
TypeSH
Market value$35.68M
1.86%
Sole
1.94M
Shared
0.00
None
0.00
PONY AI INC
DFNDShares1.08M
TypeSH
Market value$20.72M
1.08%
Sole
1.08M
Shared
0.00
None
0.00
DINGDONG CAYMAN LTD
DFNDShares11.14M
TypeSH
Market value$20.50M
1.07%
Sole
11.14M
Shared
0.00
None
0.00
ARRIVENT BIOPHARMA INC
DFNDShares663.31K
TypeSH
Market value$12.99M
0.68%
Sole
663.31K
Shared
0.00
None
0.00
LOTUS TECHNOLOGY INC
DFNDShares4.83M
TypeSH
Market value$9.09M
0.47%
Sole
4.83M
Shared
0.00
None
0.00
TH INTERNATIONAL LIMITED
DFNDShares2.90M
TypeSH
Market value$7.05M
0.37%
Sole
2.90M
Shared
0.00
None
0.00
BITDEER TECHNOLOGIES GROUP
DFNDShares293.73K
TypeSH
Market value$6.95M
0.36%
Sole
293.73K
Shared
0.00
None
0.00
STRUCTURE THERAPEUTICS INC
DFNDShares266.06K
TypeSH
Market value$4.61M
0.24%
Sole
266.06K
Shared
0.00
None
0.00
NOAH HLDGS LTD
DFNDShares396.81K
TypeSH
Market value$4.50M
0.23%
Sole
396.81K
Shared
0.00
None
0.00
ADAGENE INC
DFNDShares1.34M
TypeSH
Market value$2.54M
0.13%
Sole
1.34M
Shared
0.00
None
0.00
BARINTHUS BIOTHERAPEUTICS PL
DFNDShares1.42M
TypeSH
Market value$1.96M
0.10%
Sole
1.42M
Shared
0.00
None
0.00
BIT MINING LIMITED
DFNDShares350.43K
TypeSH
Market value$855.0K
0.04%
Sole
350.43K
Shared
0.00
None
0.00
BURNING ROCK BIOTECH LTD
DFNDShares21.21K
TypeSH
Market value$215.3K
0.01%
Sole
21.21K
Shared
0.00
None
0.00
LYELL IMMUNOPHARMA INC
DFNDShares152.30K
TypeSH
Market value$73.1K
<0.01%
Sole
152.30K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
PDD HOLDINGS INCDFND | SPONSORED ADS | 11.35M | SH | $1.48B 77.21% | 11.35M | 0.00 | 0.00 |
FUTU HLDGS LTDDFND | SPON ADS CL A | 740.35K | SH | $125.27M 6.52% | 740.35K | 0.00 | 0.00 |
WEBULL CORPDFND | ORD SHS | 9.55M | SH | $106.43M 5.54% | 9.55M | 0.00 | 0.00 |
KANZHUN LIMITEDDFND | SPONSORED ADS | 1.90M | SH | $41.78M 2.17% | 1.90M | 0.00 | 0.00 |
51TALK ONLINE EDUCATION GROUDFND | SPONSORED ADR | 667.22K | SH | $36.60M 1.90% | 667.22K | 0.00 | 0.00 |
KE HLDGS INCDFND | SPONSORED ADS | 1.94M | SH | $35.68M 1.86% | 1.94M | 0.00 | 0.00 |
PONY AI INCDFND | SPONSORED ADS | 1.08M | SH | $20.72M 1.08% | 1.08M | 0.00 | 0.00 |
DINGDONG CAYMAN LTDDFND | ADS | 11.14M | SH | $20.50M 1.07% | 11.14M | 0.00 | 0.00 |
ARRIVENT BIOPHARMA INCDFND | COM | 663.31K | SH | $12.99M 0.68% | 663.31K | 0.00 | 0.00 |
LOTUS TECHNOLOGY INCDFND | SPONSORED ADR | 4.83M | SH | $9.09M 0.47% | 4.83M | 0.00 | 0.00 |
TH INTERNATIONAL LIMITEDDFND | SHS NEW | 2.90M | SH | $7.05M 0.37% | 2.90M | 0.00 | 0.00 |
BITDEER TECHNOLOGIES GROUPDFND | CL A ORD SHS | 293.73K | SH | $6.95M 0.36% | 293.73K | 0.00 | 0.00 |
STRUCTURE THERAPEUTICS INCDFND | SPONSORED ADS | 266.06K | SH | $4.61M 0.24% | 266.06K | 0.00 | 0.00 |
NOAH HLDGS LTDDFND | SPON ADS | 396.81K | SH | $4.50M 0.23% | 396.81K | 0.00 | 0.00 |
ADAGENE INCDFND | ADS | 1.34M | SH | $2.54M 0.13% | 1.34M | 0.00 | 0.00 |
BARINTHUS BIOTHERAPEUTICS PLDFND | ADS | 1.42M | SH | $1.96M 0.10% | 1.42M | 0.00 | 0.00 |
BIT MINING LIMITEDDFND | SPON ADR | 350.43K | SH | $855.0K 0.04% | 350.43K | 0.00 | 0.00 |
BURNING ROCK BIOTECH LTDDFND | SPONSORED ADS | 21.21K | SH | $215.3K 0.01% | 21.21K | 0.00 | 0.00 |
LYELL IMMUNOPHARMA INCDFND | COM NEW | 152.30K | SH | $73.1K <0.01% | 152.30K | 0.00 | 0.00 |