HSG Holding Ltd — 13F Holdings & Portfolio
CIK 1470766 · latest 13F-HR filed 2026-05-15
HSG Holding Ltd manages $1.62B in 13F-reported U.S. long-equity assets across 26 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are PDD (64.31%), PDD (6.04%), PONY (5.20%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 2 new positions, exited 1, added to 4, and trimmed 13.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$1.62B
Long-equity book
26
Distinct positions
2026-03-31
Filed 2026-05-15
+2 / −1 / ↑4 / ↓13
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- CIRCLE INTERNET GROUP INC$26.0M +114.3%
- KE HLDGS INC$17.0M +18.7%
- TH INTERNATIONAL LIMITED$1.1M +17.1%
- SOLAI LIMITED$283.8K +82.7%
Top Trims
- KANZHUN LIMITED-$112.9M -80.3%
- PDD HOLDINGS INC-$64.0M -5.3%
- FUTU HLDGS LTD-$54.6M -45.5%
- BARINTHUS BIOTHERAPEUTICS PL-$41.1M -97.2%
- STRUCTURE THERAPEUTICS INC-$18.2M -74.6%
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | PDD HOLDINGS INC | PDD | 722304102 | $1.04B | 64.31% | 10,373,817 | SH |
| 2 | PDD HOLDINGS INC | PDD | 722304102 | $97.9M | 6.04% | 974,609 | SH |
| 3 | PONY AI INC | PONY | 732908108 | $84.2M | 5.20% | 6,341,397 | SH |
| 4 | KE HLDGS INC | BEKE | 482497104 | $66.6M | 4.11% | 1,200,000 | SH |
| 5 | FUTU HLDGS LTD | FUTU | 36118L106 | $55.3M | 3.41% | 626,420 | SH |
| 6 | WEBULL CORP | BULL | G9572D103 | $55.2M | 3.41% | 7,053,639 | SH |
| 7 | CIRCLE INTERNET GROUP INC | CRCL | 172573107 | $48.7M | 3.00% | 669,200 | SH |
| 8 | KE HLDGS INC | BEKE | 482497104 | $41.0M | 2.53% | 739,017 | SH |
| 9 | KANZHUN LIMITED | BZ | 48553T106 | $27.8M | 1.71% | 1,900,000 | SH |
| 10 | DINGDONG CAYMAN LTD | DDL | 25445D101 | $26.3M | 1.63% | 10,091,839 | SH |
| 11 | PONY AI INC | PONY | 732908108 | $15.9M | 0.98% | 1,196,961 | SH |
| 12 | ARRIVENT BIOPHARMA INC | AVBP | 04272N102 | $14.0M | 0.86% | 663,308 | SH |
| 13 | FUTU HLDGS LTD | FUTU | 36118L106 | $10.1M | 0.62% | 113,932 | SH |
| 14 | 51TALK ONLINE EDUCATION GROU | COE | 16954L204 | $7.8M | 0.48% | 474,901 | SH |
| 15 | TH INTERNATIONAL LIMITED | THCH | G8656L130 | $7.5M | 0.47% | 2,900,606 | SH |
| 16 | LOTUS TECHNOLOGY INC | LOT | 54572F101 | $6.3M | 0.39% | 4,834,099 | SH |
| 17 | STRUCTURE THERAPEUTICS INC | GPCR | 86366E106 | $5.9M | 0.37% | 254,750 | SH |
| 18 | ADAGENE INC | ADAG | 005329107 | $2.0M | 0.13% | 1,343,364 | SH |
| 19 | BITDEER TECHNOLOGIES GROUP | BTDR | G11448100 | $1.5M | 0.09% | 155,564 | SH |
| 20 | BITDEER TECHNOLOGIES GROUP | BTDR | G11448100 | $1.4M | 0.08% | 138,168 | SH |
| 21 | BARINTHUS BIOTHERAPEUTICS PL | BRNS | 91864C107 | $1.2M | 0.07% | 1,420,473 | SH |
| 22 | SOLAI LIMITED | SLAI | 055474209 | $627.3K | 0.04% | 350,427 | SH |
| 23 | YIMUTIAN INC | YMT | 985915107 | $543.8K | 0.03% | 3,442,060 | SH |
| 24 | STRUCTURE THERAPEUTICS INC | GPCR | 86366E106 | $263.8K | 0.02% | 11,312 | SH |
| 25 | LYELL IMMUNOPHARMA INC | LYEL | 55083R203 | $73.1K | 0.00% | 152,299 | SH |
| 26 | BURNING ROCK BIOTECH LTD | BNR | 12233L206 | $62.4K | 0.00% | 21,212 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $1.62B | 26 | 0001193125-26-226714 |
| 2025-12-31 | 2026-02-13 | $1.89B | 25 | 0001193125-26-051708 |
| 2025-09-30 | 2025-11-14 | $1.92B | 26 | 0001193125-25-282908 |