Managers / Q4 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
Summary
Infini Capital Management Ltd reported $12M in U.S.-listed holdings across 2 positions for Q4 2025.
The portfolio is heavily concentrated: VNET alone accounts for 97.7% of reported value.
Compared with Q3 2025, the fund opened 0 new positions and exited 9.
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 · 100.0% · $12M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| BIDUBaidu Inc | SOLD OUT | −33.4K | 0 | −$4M | $0 |
| PDD HOLDINGS INC | SOLD OUT | −2.50M | 0 | −$2M | $0 |
| KCKINGSOFT CLOUD HLDGS LTD | SOLD OUT | −166.0K | 0 | −$2M | $0 |
| BEKEKe Holdings Inc | SOLD OUT | −128.0K | 0 | −$2M | $0 |
| GDSGDS Holdings Ltd | SOLD OUT | −13.1K | 0 | −$506,970 | $0 |
| ZLABZAI LAB LTD | SOLD OUT | −12.5K | 0 | −$422,947 | $0 |
| BILIBILIBILI INC | SOLD OUT | −780 | 0 | −$21,910 | $0 |
| MNSOMINISO Group Holding Ltd | SOLD OUT | −950 | 0 | −$21,375 | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | VNETVNET Group Inchistory → | SPONSORED ADS A | 97.74% | $12M | 1.43M |
| 2 | CHACHAGEE HOLDINGS ADShistory → | SPONSORED ADS | 2.26% | $279,120 | 24.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $0 | 1 | May 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $12M | 2 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $102M | 11 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $152M | 20 | Aug 29, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $100M | 14 | Apr 30, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $79M | 6 | Feb 4, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $116M | 8 | Nov 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $21M | 5 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $21M | 6 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $25M | 3 | Feb 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $39M | 23 | Nov 7, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $74M | 26 | Aug 18, 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 ↗.