Managers / Q1 2025 · view latest →
AI-Squared Management Ltd
CIK 0001933952 · UNIT 3610, ICBC TOWER, 3 GARDEN ROAD, CENTRAL, HONG KONG, K3, 000000 · 852 3841 7498
Summary
Ai-Squared Management Ltd reported $107M in U.S.-listed holdings across 16 positions for Q1 2025.
Its largest position, MU, represents 12.7% of the portfolio.
Compared with Q4 2024, the fund opened 8 new positions and exited 12.
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
- ADR · 41.3% · $44M
- ETP · 28.8% · $31M
- Common Stock · 26.8% · $29M
- Other · 3.1% · $3M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| NDQINVESCO QQQ TR | NEW | +65.8K | 65.8K | +$31M | $31M |
| MUMICRON TECHNOLOGY INC | NEW | +156.4K | 156.4K | +$14M | $14M |
| WDCWESTERN DIGITAL CORP | NEW | +165.7K | 165.7K | +$7M | $7M |
| ORCLORACLE CORP | NEW | +26.9K | 26.9K | +$4M | $4M |
| PROSHARES TR II | NEW | +141.8K | 141.8K | +$3M | $3M |
| LITELUMENTUM HLDGS INC | NEW | +25.1K | 25.1K | +$2M | $2M |
| KANZHUN LIMITED | NEW | +27.7K | 27.7K | +$531,009 | $531,009 |
| IQIQIYI INC | NEW | +219.5K | 219.5K | +$496,070 | $496,070 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MUMICRON TECHNOLOGY INChistory → | COM | 12.67% | $14M | 156.4K |
| 2 | TSMTAIWAN SEMICONDUCTOR MFG LTDhistory → | SPONSORED ADS | 8.96% | $10M | 57.9K |
| 3 | TALTAL EDUCATION GROUPhistory → | SPONSORED ADS | 8.56% | $9M | 695.0K |
| 4 | JOYYJOYY INChistory → | ADS REPSTG COM A | 7.35% | $8M | 187.7K |
| 5 | WDCWESTERN DIGITAL CORPhistory → | COM | 6.24% | $7M | 165.7K |
| 6 | ATATATOUR LIFESTYLE HLDGS LTDhistory → | SPONSORED ADS | 5.23% | $6M | 198.0K |
| 7 | BABAALIBABA GROUP HLDG LTDhistory → | SPONSORED ADS | 4.48% | $5M | 36.3K |
| 8 | FUTUFUTU HLDGS LTDhistory → | SPON ADS CL A | 3.98% | $4M | 41.7K |
| 9 | ORCLORACLE CORPhistory → | COM | 3.51% | $4M | 26.9K |
| 10 | PROSHARES TR II | ULTRA VIX SHORT | 3.10% | $3M | 141.8K |
| 11 | NVDANVIDIA CORPORATIONhistory → | COM | 2.95% | $3M | 29.2K |
| 12 | MNSOMINISO GROUP HLDG LTDhistory → | SPONSORED ADS | 1.79% | $2M | 103.9K |
| 13 | LITELUMENTUM HLDGS INChistory → | COM | 1.46% | $2M | 25.1K |
| 14 | KANZHUN LIMITED | SPONSORED ADS | 0.50% | $531,009 | 27.7K |
| 15 | IQIQIYI INC | SPONSORED ADS | 0.46% | $496,070 | 219.5K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $137M | 19 | May 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $86M | 18 | Feb 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $96M | 20 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $159M | 11 | Aug 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $107M | 16 | May 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $98M | 20 | Feb 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $197M | 26 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $178M | 25 | Aug 9, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $133M | 18 | May 10, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $78M | 16 | Feb 7, 2024 | 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 ↗.