Managers / Q1 2023 · view latest →
Maytree Asset Management Ltd
CIK 0001869683 · UNIT 710, L7, CORE D, CYBERPORT 3, 100 CYBERPORT ROAD, HONG KONG, K3, 0 · 852 3611 0877
Summary
Maytree Asset Management Ltd reported $93M in U.S.-listed holdings across 14 positions for Q1 2023.
The portfolio is heavily concentrated: Maxeon Solar Technologies Ord alone accounts for 36.4% of reported value.
Compared with Q4 2022, the fund opened 9 new positions and exited 3.
Portfolio Metrics
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
Portfolio Composition
- Other · 41.0% · $38M
- ADR · 37.5% · $35M
- Common Stock · 21.5% · $20M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| PDDPDD HOLDINGS ADS | NEW | +133.7K | 133.7K | +$10M | $10M |
| ENPHENPHASE ENERGY ORD | NEW | +43.9K | 43.9K | +$9M | $9M |
| LILI AUTO ADR 2 ORD | NEW | +226.8K | 226.8K | +$6M | $6M |
| BABAALIBABA GROUP HOLDING ADR REP 8 ORD | NEW | +47.1K | 47.1K | +$5M | $5M |
| TSMTAIWAN SEMICONDUCTOR MNFTG ADR 5 ORD | NEW | +43.4K | 43.4K | +$4M | $4M |
| STEM ORD | NEW | +537.0K | 537.0K | +$3M | $3M |
| DQDAQO NEW ENERGY ADR REP 5 ORD | NEW | +64.5K | 64.5K | +$3M | $3M |
| HSAIHESAI ADS REP 1 CL B ORD | NEW | +115.0K | 115.0K | +$2M | $2M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MAXEON SOLAR TECHNOLOGIES ORD | SHS | 36.42% | $34M | 1.28M |
| 2 | BASECOUCHBASE ORDhistory → | COM | 11.15% | $10M | 740.0K |
| 3 | PDDPDD HOLDINGS ADShistory → | SPONSORED ADS | 10.88% | $10M | 133.7K |
| 4 | ENPHENPHASE ENERGY ORDhistory → | COM | 9.90% | $9M | 43.9K |
| 5 | LILI AUTO ADR 2 ORDhistory → | SPONSORED ADS | 6.06% | $6M | 226.8K |
| 6 | BABAALIBABA GROUP HOLDING ADR REP 8 ORDhistory → | SPONSORED ADS | 5.16% | $5M | 47.1K |
| 7 | TSMTAIWAN SEMICONDUCTOR MNFTG ADR 5 ORDhistory → | SPONSORED ADS | 4.33% | $4M | 43.4K |
| 8 | ZTOZTO EXPRESS CAYMAN ADR REP CL A ORDhistory → | SPONSORED ADS A | 4.29% | $4M | 139.6K |
| 9 | STEM ORD | COM | 3.26% | $3M | 537.0K |
| 10 | DQDAQO NEW ENERGY ADR REP 5 ORDhistory → | SPNSRD ADS NEW | 3.24% | $3M | 64.5K |
| 11 | HSAIHESAI ADS REP 1 CL B ORDhistory → | SPONSORED ADR | 1.91% | $2M | 115.0K |
| 12 | KANZHUN ADR REP 2 ORD | SPONSORED ADS | 1.65% | $2M | 80.8K |
| 13 | VICARIOUS SURGICAL CL A ORD | COM CL A | 1.30% | $1M | 534.9K |
| 14 | TSLATESLA ORD | COM | 0.47% | $435,666 | 2.1K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $141M | 20 | May 4, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $135M | 17 | Feb 3, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $111M | 11 | Oct 31, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $60M | 12 | Aug 1, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $56M | 16 | May 6, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $44M | 14 | Feb 3, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $51M | 9 | Nov 4, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $95M | 26 | Aug 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $53M | 18 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $79M | 36 | Feb 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $78M | 11 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $99M | 15 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $93M | 14 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $52M | 8 | Feb 9, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $135M | 20 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $86M | 16 | Aug 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $91M | 14 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $76M | 17 | Feb 14, 2022 | 13F-HR | changes · 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 ↗.