Managers / Q2 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 $99M in U.S.-listed holdings across 15 positions for Q2 2023.
The portfolio is heavily concentrated: Maxeon Solar Technologies Ord alone accounts for 45.7% of reported value.
Compared with Q1 2023, the fund opened 5 new positions and exited 4.
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 · 49.9% · $49M
- ADR · 37.3% · $37M
- Common Stock · 12.8% · $13M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| FUTUFUTU HOLDINGS ADR | NEW | +177.2K | 177.2K | +$7M | $7M |
| BEKEKE HOLDINGS ADR REP 3 CL A ORD | NEW | +337.9K | 337.9K | +$5M | $5M |
| YMMFULL TRUCK ALLNC 20 ADR REP CL A ORD | NEW | +399.0K | 399.0K | +$2M | $2M |
| JDJD.COM ADR REP 2 CL A ORD | NEW | +17.1K | 17.1K | +$582,292 | $582,292 |
| CLVTRIP COM GROUP ADR REP ORD | NEW | +2.3K | 2.3K | +$80,500 | $80,500 |
| ZTOZTO EXPRESS CAYMAN ADR REP CL A ORD | ADDED | +197.0K | 336.6K | +$4M | $8M |
| ENPHENPHASE ENERGY ORD | SOLD OUT | −43.9K | 0 | −$9M | $0 |
| LILI AUTO ADR 2 ORD | SOLD OUT | −226.8K | 0 | −$6M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MAXEON SOLAR TECHNOLOGIES ORD | SHS | 45.71% | $45M | 1.61M |
| 2 | BASECOUCHBASE ORDhistory → | COM | 12.27% | $12M | 767.4K |
| 3 | ZTOZTO EXPRESS CAYMAN ADR REP CL A ORDhistory → | SPONSORED ADS A | 8.53% | $8M | 336.6K |
| 4 | PDDPDD HOLDINGS ADShistory → | SPONSORED ADS | 8.28% | $8M | 118.5K |
| 5 | FUTUFUTU HOLDINGS ADRhistory → | SPON ADS CL A | 7.12% | $7M | 177.2K |
| 6 | BEKEKE HOLDINGS ADR REP 3 CL A ORDhistory → | SPONSORED ADS | 5.07% | $5M | 337.9K |
| 7 | STEM ORD | COM | 3.15% | $3M | 545.4K |
| 8 | DQDAQO NEW ENERGY ADR REP 5 ORDhistory → | SPNSRD ADS NEW | 2.59% | $3M | 64.5K |
| 9 | YMMFULL TRUCK ALLNC 20 ADR REP CL A ORDhistory → | SPONSORED ADS | 2.51% | $2M | 399.0K |
| 10 | HSAIHESAI ADS REP 1 CL B ORDhistory → | SPONSORED ADR | 2.37% | $2M | 222.4K |
| 11 | VICARIOUS SURGICAL CL A ORD | COM CL A | 0.99% | $978,808 | 534.9K |
| 12 | JDJD.COM ADR REP 2 CL A ORD | SPON ADR CL A | 0.59% | $582,292 | 17.1K |
| 13 | TSLATESLA ORD | COM | 0.56% | $549,717 | 2.1K |
| 14 | KANZHUN ADR REP 2 ORD | SPONSORED ADS | 0.20% | $194,898 | 12.9K |
| 15 | CLVTRIP COM GROUP ADR REP ORD | ADS | 0.08% | $80,500 | 2.3K |
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 ↗.