SEC 13F Intelligence

Managers / Q3 2025

MASO CAPITAL PARTNERS Ltd

CIK 0001698093 · 8/F PRINTING HOUSE, 6 DUDDELL STREET, HONG KONG, 000000 · 852 34686200

Reported Value
$61M
Q3 2025
Positions
44
Filings on Record
30
2019–present window
Filed
Nov 14, 2025
original filing

Summary

Maso Capital Partners Ltd reported $61M in U.S.-listed holdings across 44 positions for Q3 2025.

The portfolio is heavily concentrated: SOHU alone accounts for 23.3% of reported value.

Compared with Q2 2025, the fund opened 22 new positions and exited 7.

Portfolio Metrics

Turnover
+43.9%
vs prior filed quarter
Top-10 Concentration
+83.7%
share of reported value
Largest Position
+23.3%
Sohu Com
New / Exited
22 / 7
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $80MQ4 ’18Q1 ’19: $145MQ2 ’19: $191MQ3 ’19: $278MQ4 ’19: $311MQ4 ’19Q1 ’20: $386MQ2 ’20: $248MQ3 ’20: $179MQ4 ’20: $367MQ4 ’20Q1 ’21: $260MQ2 ’21: $304MQ3 ’21: $222MQ4 ’21: $218MQ4 ’21Q1 ’22: $246MQ2 ’22: $177MQ3 ’22: $429MQ1 ’23: $150,581Q1 ’23Q2 ’23: $228,000Q3 ’23: $183,560Q4 ’23: $115,713Q1 ’24: $135,260Q1 ’24Q3 ’24: $107MQ4 ’24: $79MQ1 ’25: $66MQ2 ’25: $57MQ2 ’25Q3 ’25: $61Mfilingsflow.com

Portfolio Composition

By security type
ADR: 45.4%Common Stock: 27.3%Other: 26.2%Equity WRT: 1.0%
  • ADR · 45.4% · $28M
  • Common Stock · 27.3% · $17M
  • Other · 26.2% · $16M
  • Equity WRT · 1.0% · $625,771

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NOTEFISCALNOTE HOLDINGS INCNEW+2.46M2.46M+$11M$11M
RENEW ENERGY GLOBAL PLCNEW+282.8K282.8K+$2M$2M
COLUMBUS CIRCLE CAP CORP INEW+190.0K190.0K+$2M$2M
SFDSMITHFIELD FOODS INCNEW+80.2K80.2K+$2M$2M
TONXTON STRATEGY CONEW+262.9K262.9K+$2M$2M
QFINQFIN HOLDINGS INCNEW+45.0K45.0K+$1M$1M
TRANSOCEAN LTDNEW+330.0K330.0K+$1M$1M
DRUGS MADE IN AMER ACQ II CONEW+100.0K100.0K+$994,500$994,500

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2025

43 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SOHUSOHU COM LTDhistory →SPONSORED ADS23.27%$14M906.3K
2NOTEFISCALNOTE HOLDINGS INCCL A NEW · *W EXP 07/29/20219.67%$12M11.46M
3JOYYJOYY INChistory →ADS REPSTG COM A17.16%$10M178.2K
4ONECONNECT FINL TECHNOLOGY CSPONSORED ADS5.48%$3M440.0K
5OXLEY BRIDGE ACQ LTDUNIT 06/17/20304.12%$3M250.0K
6RENEW ENERGY GLOBAL PLCCL A SHS3.58%$2M282.8K
7COLUMBUS CIRCLE CAP CORP ISHS CL A3.16%$2M190.0K
8SFDSMITHFIELD FOODS INChistory →COM3.09%$2M80.2K
9TONXTON STRATEGY COhistory →COM3.04%$2M262.9K
10QFINQFIN HOLDINGS INChistory →AMERICAN DEP2.13%$1M45.0K
11TRANSOCEAN LTDREGISTERED SHS1.69%$1M330.0K
12DRUGS MADE IN AMER ACQ II COUNIT 09/16/20301.63%$994,500100.0K
13ZKNZEEKR INTELLIGENT TECHNOLOGYhistory →SPON ADS1.60%$973,65331.9K
14VNETVNET GROUP INChistory →SPONSORED ADS A1.27%$774,75075.0K
15STONEBRIDGE ACQUISITION II CUNIT 09/09/20301.23%$746,75374.9K
16CHENGHE ACQUISITION III COUNIT 09/09/20301.22%$745,50674.7K
17VKTXVIKING THERAPEUTICS INChistory →COM1.08%$657,00025.0K
18CHURCHILL CAP CORP XSHS CL A1.06%$643,00050.0K
19WILLOW LANE ACQUISITION CORPORD SHS CL A0.95%$579,00050.0K
20YORKVILLE ACQUISITION CORPSHS CL A0.88%$533,00050.0K
21ALMUAELUMA INCCOM0.52%$316,63919.7K
22ORCLORACLE CORPCOM0.46%$281,2401.0K
23SIM ACQUISITION CORP I*W EXP 06/01/2030.30%$185,000500.0K
24EQV VENTURES ACQUISITION COR*W EXP 07/01/2030.22%$133,333266.7K
25QSQUANTUMSCAPE CORPCOM CL A0.20%$123,20010.0K
26ARQIT QUANTUM INCCOM NEW0.18%$110,0502.8K
271RT ACQUISITION CORPUNIT 06/26/20300.17%$105,50010.0K
28ANDRETTI ACQUISITION CORP II*W EXP 06/01/2030.12%$75,000375.0K
29QBTSD-WAVE QUANTUM INCCOM0.12%$72,8953.0K
30QUBTQUANTUM COMPUTING INCCOM0.11%$68,4853.7K
31GRAF GLOBAL CORP*W EXP 05/31/2030.07%$41,250125.0K
32PEW/WSGRABAGUN DIGITAL HLDGS INC*W EXP 99/99/9990.05%$29,16923.3K
33MELAR ACQUISITION CORP I*W EXP 06/01/2030.04%$25,415162.5K
34LEGATO MERGER CORP III*W EXP 05/08/2030.04%$23,20062.5K
35ESLAESTRELLA IMMUNOPHARMA INCCOM0.02%$11,50010.0K
36LAUNCH ONE ACQUISITION CORP*W EXP 06/01/2030.02%$11,00050.0K
37EUREKA ACQUISITION CORPRIGHT 01/03/20260.02%$9,60040.0K
38GENERATION ESSENTIALS GROUP*W EXP 02/15/2020.01%$8,73366.7K
39BOLT PROJS HLDGS INC*W EXP 08/13/2020.00%$2,60265.0K
40PRENETICS GLOBAL LTD*W EXP 05/18/2020.00%$1,70649.0K
41NAMIB MINERALSSHS0.00%$987300
42CENNTRO INCCOM0.00%$83141
43CHENGHE ACQUISITION II CO*W EXP 05/30/2030.00%$0100.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2025$61M44Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$57M29Aug 18, 202513F-HRchanges · EDGAR ↗
Q1 2025$66M34May 9, 202513F-HRchanges · EDGAR ↗
Q4 2024$79M34Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$107M36Nov 4, 202413F-HRchanges · EDGAR ↗
Q2 2024Under review28Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$135,26036May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$115,71327Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$183,56037Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$228,00037Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$150,58136May 11, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review42Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022REVEALED$429M60Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$177M61Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$246M56May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$218M47Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$222M41Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$304M54Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$260M47May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$367M45Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$179M21Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$248M22Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$386M21May 11, 202013F-HRchanges · EDGAR ↗
Q4 2019$311M20Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$278M19Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$191M19Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$145M16May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$80M10Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.