SEC 13F Intelligence

Managers / Q2 2025 · view latest →

Infini Capital Management Ltd

CIK 0001936249 · 27TH FLOOR, EAST TOWER, CHEUNG KONG CENTER II, 10 HARCOURT ROAD, CENTRAL, 00000 · 852 3792 0823

Reported Value
$152M
Q2 2025
Positions
20
Filings on Record
19
2019–present window
Filed
Aug 29, 2025
original filing

Summary

Infini Capital Management Ltd reported $152M in U.S.-listed holdings across 20 positions for Q2 2025.

The portfolio is heavily concentrated: VNET alone accounts for 44.4% of reported value.

Compared with Q1 2025, the fund opened 11 new positions and exited 5.

Portfolio Metrics

Turnover
+20.7%
vs prior filed quarter
Top-10 Concentration
+95.5%
share of reported value
Largest Position
+44.4%
Vnet
New / Exited
11 / 5
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, 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

13F Reported Value
Q2 ’22: $74MQ2 ’22Q3 ’22: $39MQ4 ’22: $25MQ4 ’22Q1 ’23: $21MQ3 ’23: $21MQ3 ’23Q3 ’24: $116MQ4 ’24: $79MQ4 ’24Q1 ’25: $100MQ2 ’25: $152MQ2 ’25Q3 ’25: $102MQ4 ’25: $12MQ4 ’25Q1 ’26: $0filingsflow.com

Portfolio Composition

By security type
ADR: 85.1%Common Stock: 11.4%GLOBAL: 1.6%EURO-DOLLAR: 1.3%ETP: 0.5%
  • ADR · 85.1% · $129M
  • Common Stock · 11.4% · $17M
  • GLOBAL · 1.6% · $2M
  • EURO-DOLLAR · 1.3% · $2M
  • ETP · 0.5% · $804,780

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
INFYINFOSYS LTDNEW+926.2K926.2K+$17M$17M
ASAMER SPORTS ORDNEW+135.0K135.0K+$5M$5M
PDD HOLDINGS INCNEW+2.50M2.50M+$2M$2M
KCKINGSOFT CLOUD HLDGS LTDNEW+180.4K180.4K+$2M$2M
ZTO EXPRESS CAYMAN INCNEW+2.00M2.00M+$2M$2M
CRCLCIRCLE INTERNET GROUP INCNEW+6.2K6.2K+$1M$1M
SMRNUSCALE PWR CORPNEW+25.0K25.0K+$989,000$989,000
DIREXION SHS ETF TRNEW+102.0K102.0K+$804,780$804,780

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

Holdings — Q2 2025

20 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VNETVNET Group Inchistory →SPONSORED ADS A44.41%$67M9.76M
2BABAAlibaba Group Holding Ltdhistory →SPONSORED ADS22.74%$34M304.0K
3INFYINFOSYS LTDhistory →SPONSORED ADR11.32%$17M926.2K
4PLTKPlaytika Holding Corphistory →COM3.59%$5M1.15M
5ASAMER SPORTS ORDhistory →COM SHS3.45%$5M135.0K
6BIDUBaidu Inchistory →SPON ADR REP A3.18%$5M56.2K
7NCNOnCino Inchistory →COM2.42%$4M131.4K
8PDD HOLDINGS INCNOTE1.61%$2M2.50M
9KCKINGSOFT CLOUD HLDGS LTDhistory →ADS1.49%$2M180.4K
10LILi Auto Inchistory →SPONSORED ADS1.32%$2M74.0K
11ZTO EXPRESS CAYMAN INCNOTE1.31%$2M2.00M
12CRCLCIRCLE INTERNET GROUP INCCOM CL A0.74%$1M6.2K
13SMRNUSCALE PWR CORPCL A COM0.65%$989,00025.0K
14DIREXION SHS ETF TRDAILY SEMICONDUC0.53%$804,780102.0K
15CHACHAGEE HOLDINGS LTDSPONSORED ADS0.45%$681,15826.1K
16RDDTREDDIT INCCL A0.40%$602,2804.0K
17MNSOMINISO Group Holding LtdSPONSORED ADS0.19%$285,14315.7K
18OKLOOKLO INCCOM CL A0.18%$279,9505.0K
19GDSGDS Holdings LtdSPONSORED ADS0.00%$3,057100
20BEKEKe Holdings IncSPONSORED ADS0.00%$1,29573

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$01May 13, 202613F-HRchanges · EDGAR ↗
Q4 2025$12M2Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$102M11Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$152M20Aug 29, 202513F-HRchanges · EDGAR ↗
Q1 2025$100M14Apr 30, 202513F-HRchanges · EDGAR ↗
Q4 2024$79M6Feb 4, 202513F-HRchanges · EDGAR ↗
Q3 2024$116M8Nov 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$21M5Nov 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$21M6May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$25M3Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$39M23Nov 7, 202213F-HRchanges · EDGAR ↗
Q2 2022$74M26Aug 18, 202213F-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 ↗.