SEC 13F Intelligence

Managers / Q1 2024 · view latest →

AI-Squared Management Ltd

CIK 0001933952 · UNIT 3610, ICBC TOWER, 3 GARDEN ROAD, CENTRAL, HONG KONG, K3, 000000 · 852 3841 7498

Reported Value
$133M
Q1 2024
Positions
18
Filings on Record
10
2019–present window
Filed
May 10, 2024
original filing

Summary

Ai-Squared Management Ltd reported $133M in U.S.-listed holdings across 18 positions for Q1 2024.

The portfolio is heavily concentrated: PDD alone accounts for 35.7% of reported value.

Compared with Q4 2023, the fund opened 8 new positions and exited 6.

Portfolio Metrics

Turnover
+22.0%
vs prior filed quarter
Top-10 Concentration
+74.4%
share of reported value
Largest Position
+35.7%
Pdd
New / Exited
8 / 6
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 ’23: $78MQ4 ’23Q1 ’24: $133MQ2 ’24: $178MQ2 ’24Q3 ’24: $197MQ4 ’24: $98MQ4 ’24Q1 ’25: $107MQ2 ’25: $159MQ2 ’25Q3 ’25: $96MQ4 ’25: $86MQ4 ’25Q1 ’26: $137Mfilingsflow.com

Portfolio Composition

By security type
ADR: 73.8%ETP: 19.4%Common Stock: 5.3%Other: 1.5%
  • ADR · 73.8% · $98M
  • ETP · 19.4% · $26M
  • Common Stock · 5.3% · $7M
  • Other · 1.5% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NDQINVESCO QQQ TRNEW+55.0K55.0K+$24M$24M
TSMTAIWAN SEMICONDUCTOR MFG LTDNEW+71.4K71.4K+$10M$10M
CLVTRIP COM GROUP LTDNEW+153.6K153.6K+$7M$7M
TALTAL EDUCATION GROUPNEW+471.5K471.5K+$5M$5M
QCOMQUALCOMM INCNEW+16.5K16.5K+$3M$3M
DIREXION SHS ETF TRNEW+189.8K189.8K+$1M$1M
WDCWESTERN DIGITAL CORP.NEW+19.5K19.5K+$1M$1M
LILI AUTO INCNEW+20.9K20.9K+$632,852$632,852

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

Holdings — Q1 2024

17 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1PDDPDD HOLDINGS INChistory →SPONSORED ADS35.71%$48M408.8K
2TSMTAIWAN SEMICONDUCTOR MFG LTDhistory →SPONSORED ADS7.30%$10M71.4K
3BEKEKE HLDGS INChistory →SPONSORED ADS6.59%$9M638.8K
4CLVTRIP COM GROUP LTDhistory →ADS5.07%$7M153.6K
5BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS5.02%$7M92.4K
6TALTAL EDUCATION GROUPhistory →SPONSORED ADS4.02%$5M471.5K
7NTESNETEASE INChistory →SPONSORED ADS3.97%$5M51.0K
8QFINQIFU TECHNOLOGY INChistory →AMERICAN DEP2.39%$3M172.8K
9MUMICRON TECHNOLOGY INChistory →COM2.21%$3M25.0K
10ATATATOUR LIFESTYLE HLDGS LTDhistory →SPONSORED ADS2.13%$3M158.2K
11QCOMQUALCOMM INChistory →COM2.10%$3M16.5K
12VALENS SEMICONDUCTOR LTDORDINARY SHARES1.47%$2M834.4K
13DIREXION SHS ETF TRDAILY S&P BIOTEC1.04%$1M189.8K
14WDCWESTERN DIGITAL CORP.COM1.00%$1M19.5K
15LULUFAX HOLDING LTDSPONSORED ADR0.78%$1M244.7K
16LILI AUTO INCSPONSORED ADS0.48%$632,85220.9K
17VNETVNET GROUP INCSPONSORED ADS A0.36%$482,413311.2K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$137M19May 12, 202613F-HRchanges · EDGAR ↗
Q4 2025$86M18Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$96M20Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$159M11Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$107M16May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$98M20Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$197M26Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$178M25Aug 9, 202413F-HRchanges · EDGAR ↗
Q1 2024$133M18May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$78M16Feb 7, 202413F-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 ↗.