Managers / Q3 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 $78M in U.S.-listed holdings across 11 positions for Q3 2023.
The portfolio is heavily concentrated: Maxeon Solar Technologies Ord alone accounts for 32.3% of reported value.
Compared with Q2 2023, the fund opened 0 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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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
- ADR · 47.5% · $37M
- Other · 32.7% · $26M
- Common Stock · 19.8% · $15M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| DQDAQO NEW ENERGY ADR REP 5 ORD | SOLD OUT | −64.5K | 0 | −$3M | $0 |
| YMMFULL TRUCK ALLNC 20 ADR REP CL A ORD | SOLD OUT | −399.0K | 0 | −$2M | $0 |
| JDJD.COM ADR REP 2 CL A ORD | SOLD OUT | −17.1K | 0 | −$582,292 | $0 |
| TCOMTRIP COM GROUP ADR REP ORD | SOLD OUT | −2.3K | 0 | −$80,500 | $0 |
| PDDPDD HOLDINGS ADS | TRIMMED | −107.1K | 11.4K | −$7M | $1M |
| BEKEKE HOLDINGS ADR REP 3 CL A ORD | ADDED | +294.8K | 632.7K | +$5M | $10M |
| STEMSTEM ORD | TRIMMED | −296.7K | 248.7K | −$2M | $1M |
| FUTUFUTU HOLDINGS ADR | ADDED | +94.2K | 271.4K | +$9M | $16M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MAXEON SOLAR TECHNOLOGIES ORD | SHS | 32.27% | $25M | 2.18M |
| 2 | FUTUFUTU HOLDINGS ADRhistory → | SPON ADS CL A | 20.06% | $16M | 271.4K |
| 3 | BASECOUCHBASE ORDhistory → | COM | 17.77% | $14M | 809.9K |
| 4 | BEKEKE HOLDINGS ADR REP 3 CL A ORDhistory → | SPONSORED ADS | 12.55% | $10M | 632.7K |
| 5 | ZTOZTO EXPRESS CAYMAN ADR REP CL A ORDhistory → | SPONSORED ADS A | 10.40% | $8M | 336.6K |
| 6 | HSAIHESAI ADS REP 1 CL B ORDhistory → | SPONSORED ADR | 2.84% | $2M | 222.4K |
| 7 | PDDPDD HOLDINGS ADShistory → | SPONSORED ADS | 1.43% | $1M | 11.4K |
| 8 | STEMSTEM ORDhistory → | COM | 1.35% | $1M | 248.7K |
| 9 | TSLATESLA ORD | COM | 0.67% | $525,462 | 2.1K |
| 10 | VICARIOUS SURGICAL CL A ORD | COM CL A | 0.40% | $315,947 | 534.9K |
| 11 | BZKANZHUN ADR REP 2 ORD | SPONSORED ADS | 0.25% | $196,452 | 12.9K |
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 ↗.