Pinpoint Asset Management Ltd

HONG KONG, K3 · CIK 1803237 · 13F filing filed 2025-05-12

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Others nearbyHong Kong

$576.2m reported value +2.1% vs Q4 2024

86positions

76.4%in top 10

33 new 18 added 20 reduced 35 sold out vs Q4 2024

Options: 1 call positions ($2.0k notional), 1 put positions ($16.0k notional) – listed below, not included above.

Holdings, Q1 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	FULL TRUCK ALLIANCE CO LTD SPONSORED ADS YMM	YMM	7,735,913	$98.8m17.14%	17.14%	Added +1.4m	+1,448,760 23.0%
2	PDD HOLDINGS INC SPONSORED ADS PDD	PDD	610,585	$76.1m13.20%	13.20%	Added +137.0k	+137,027 28.9%
3	ISHARES BITCOIN TRUST ETF SHS BEN INT IBIT	IBIT	1,483,578	$69.4m12.05%	12.05%	Unchanged
4	TESLA INC COM TSLA	TSLA	183,110	$47.5m8.24%	8.24%	Added +54.8k	+54,817 42.7%
5	KE HLDGS INC SPONSORED ADS BEKE	BEKE	2,055,195	$41.3m7.17%	7.17%	Added +1.5m	+1,461,306 246.1%
6	TAL EDUCATION GROUP SPONSORED ADS TAL	TAL	2,491,129	$32.9m5.71%	5.71%	Added +384.6k	+384,556 18.3%
7	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	213,115	$28.2m4.89%	4.89%	New
8	CANADIAN SOLAR INC NOTE 2.500%10/0 CSIQ 2.5 10.01.25	CSIQ 2.5 10.01.25	20,000,000	$19.5m3.39%	3.39%	New
9	SPDR GOLD TR GOLD SHS GLD	GLD	51,590	$14.9m2.58%	2.58%	New
10	ZTO EXPRESS CAYMAN INC NOTE 1.500% 9/0 ZTO 1.5 09.01.27	ZTO 1.5 09.01.27	11,830,000	$11.9m2.07%	2.07%	Reduced -2.5m	-2,500,000 -17.4%
11	ICICI BANK LIMITED ADR IBN	IBN	357,350	$11.3m1.95%	1.95%	Added +178.2k	+178,150 99.4%
12	HDFC BANK LTD SPONSORED ADS HDB	HDB	168,667	$11.2m1.94%	1.94%	Added +46.2k	+46,211 37.7%
13	H WORLD GROUP LTD NOTE 3.000% 5/0 HTHT 3 05.01.26	HTHT 3 05.01.26	10,000,000	$11.2m1.94%	1.94%	Unchanged
14	PDD HOLDINGS INC NOTE 12/0 PDD 0 12.01.25	PDD 0 12.01.25	9,500,000	$9.5m1.64%	1.64%	Unchanged
15	WEIBO CORP NOTE 1.375%12/0 WB 1.375 12.01.30	WB 1.375 12.01.30	8,400,000	$9.2m1.60%	1.60%	New
16	VNET GROUP INC SPONSORED ADS A VNET	VNET	724,348	$5.9m1.03%	1.03%	New
17	LUMENTUM HLDGS INC NOTE 0.500% 6/1 LITE 0.5 06.15.28	LITE 0.5 06.15.28	5,750,000	$5.3m0.92%	0.92%	New
18	DR REDDYS LABS LTD ADR RDY	RDY	380,625	$5.0m0.87%	0.87%	Reduced -96.2k	-96,250 -20.2%
19	DOCUSIGN INC COM DOCU	DOCU	56,985	$4.6m0.81%	0.81%	Added +20.0k	+20,043 54.3%
20	COINBASE GLOBAL INC NOTE 0.250% 4/0 COIN 0.25 04.01.30	COIN 0.25 04.01.30	5,000,000	$4.6m0.80%	0.80%	New
21	COINBASE GLOBAL INC NOTE 0.500% 6/0 COIN 0.5 06.01.26	COIN 0.5 06.01.26	4,500,000	$4.4m0.76%	0.76%	New
22	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	1,647	$4.3m0.74%	0.74%	Reduced -98.0k	-97,970 -98.3%
23	LI AUTO INC SPONSORED ADS LI	LI	98,418	$3.6m0.62%	0.62%	Reduced -33.2k	-33,174 -25.2%
24	CHINA YUCHAI INTL LTD COM CYD	CYD	199,056	$3.4m0.59%	0.59%	New
25	BOSTON SCIENTIFIC CORP COM BSX	BSX	33,170	$3.3m0.58%	0.58%	Reduced -25.6k	-25,627 -43.6%
26	AMER SPORTS INC COM SHS AS	AS	114,940	$3.1m0.53%	0.53%	Reduced -341.9k	-341,890 -74.8%
27	APPLE INC COM AAPL	AAPL	13,500	$3.0m0.52%	0.52%	Reduced -1.9k	-1,917 -12.4%
28	ACM RESH INC COM CL A ACMR	ACMR	122,428	$2.9m0.50%	0.50%	Added +15.4k	+15,382 14.4%
29	SANDISK CORP COM SNDK	SNDK	55,175	$2.6m0.46%	0.46%	New
30	TERADYNE INC COM TER	TER	27,330	$2.3m0.39%	0.39%	Reduced -10.2k	-10,163 -27.1%
31	TOTALENERGIES SE SPONSORED ADS SPONSORED ADS		30,885	$2.0m0.35%	0.35%	Unchanged
32	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	3,532	$1.7m0.30%	0.30%	Reduced -3.9k	-3,928 -52.6%
33	META PLATFORMS INC CL A META	META	2,733	$1.6m0.27%	0.27%	New
34	ANALOG DEVICES INC COM ADI	ADI	7,200	$1.5m0.25%	0.25%	New
35	HESAI GROUP SPONSORED ADS HSAI	HSAI	97,493	$1.4m0.25%	0.25%	Added +97.1k	+97,058 22312.2%
36	INTEL CORP COM INTC	INTC	58,740	$1.4m0.24%	0.24%	New
37	LAM RESEARCH CORP COM NEW LRCX	LRCX	18,084	$1.3m0.23%	0.23%	New
38	ATOUR LIFESTYLE HLDGS LTD SPONSORED ADS ATAT	ATAT	30,280	$1.3m0.22%	0.22%	New
39	CELESTICA INC COM CLS	CLS	15,946	$1.3m0.22%	0.22%	Added +15.6k	+15,598 4482.2%
40	FUTU HLDGS LTD SPON ADS CL A FUTU	FUTU	11,133	$1.1m0.20%	0.20%	Reduced -142.2k	-142,174 -92.7%
41	NOVO-NORDISK A S ADR NVO	NVO	2,692	$1.1m0.19%	0.19%	Reduced -6.5k	-6,546 -70.9%
42	KT CORP SPONSORED ADR KT	KT	51,420	$910.6k0.16%	0.16%	Unchanged
43	GAOTU TECHEDU INC SPONSORED ADS GOTU	GOTU	274,310	$891.5k0.15%	0.15%	New
44	GAMESTOP CORP NEW CL A GME	GME	31,754	$708.7k0.12%	0.12%	Unchanged
45	SIGMA LITHIUM CORPORATION COM SGML	SGML	66,029	$686.7k0.12%	0.12%	Added +12	+12 0.0%
46	ERO COPPER CORP COM ERO	ERO	52,004	$630.3k0.11%	0.11%	Reduced -22.3k	-22,319 -30.0%
47	NOAH HLDGS LTD SPON ADS NOAH	NOAH	63,929	$604.1k0.10%	0.10%	Reduced -237.4k	-237,423 -78.8%
48	VIKING HOLDINGS LTD ORD SHS VIK	VIK	14,993	$596.0k0.10%	0.10%	New
49	CLEVELAND-CLIFFS INC NEW COM CLF	CLF	69,483	$571.1k0.10%	0.10%	Added +66.9k	+66,864 2553.0%
50	SOUTHERN COPPER CORP COM SCCO	SCCO	6,032	$563.8k0.10%	0.10%	New
51	CAPRI HOLDINGS LIMITED SHS CPRI	CPRI	26,881	$530.4k0.09%	0.09%	New
52	MELCO RESORTS AND ENTMNT LTD ADR MLCO	MLCO	95,758	$504.6k0.09%	0.09%	Added +5.8k	+5,797 6.4%
53	FREEPORT-MCMORAN INC CL B FCX	FCX	12,846	$486.4k0.08%	0.08%	Added +10.0k	+10,027 355.7%
54	BIRKENSTOCK HOLDING PLC COM SHS BIRK	BIRK	6,589	$302.1k0.05%	0.05%	New
55	GAP INC COM GAP	GAP	14,478	$298.4k0.05%	0.05%	New
56	SHARKNINJA INC COM SHS SN	SN	3,413	$284.7k0.05%	0.05%	Reduced -13.7k	-13,742 -80.1%
57	SUPER HI INTL HLDG LTD SPONSORED ADS HDL	HDL	8,030	$186.1k0.03%	0.03%	Unchanged
58	RLX TECHNOLOGY INC SPONSORED ADS RLX	RLX	49,850	$93.7k0.02%	0.02%	Reduced -128.1k	-128,113 -72.0%
59	INSTIL BIO INC COM NEW TIL	TIL	5,094	$88.4k0.02%	0.02%	New
60	HELLO GROUP INC NOTE 1.250% 7/0 MOMO 1.25 07.01.25	MOMO 1.25 07.01.25	80,000	$81.1k0.01%	0.01%	Unchanged
61	SEA LTD NOTE 2.375%12/0 SEALTD 2.375 12.01.25	SEALTD 2.375 12.01.25	55,000	$81.0k0.01%	0.01%	Unchanged
62	DELL TECHNOLOGIES INC CL C DELL	DELL	835	$76.1k0.01%	0.01%	Added +834	+834 83400.0%
63	GE VERNOVA INC COM GEV	GEV	109	$33.3k0.01%	0.01%	Added +18	+18 19.8%
64	HOWMET AEROSPACE INC COM HWM	HWM	237	$30.7k0.01%	0.01%	Added +71	+71 42.8%
65	PHILLIPS 66 COM PSX	PSX	238	$29.4k0.01%	0.01%	New
66	YATSEN HLDG LTD SPONSORED ADS YSG	YSG	4,834	$23.3k0.00%	0.00%	New
67	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS STX	STX	268	$22.8k0.00%	0.00%	New
68	GDS HLDGS LTD SPONSORED ADS GDS	GDS	96	$20.2k0.00%	0.00%	New
69	CENTURY ALUM CO COM CENX	CENX	1,026	$19.0k0.00%	0.00%	New
70	NUCOR CORP COM NUE	NUE	152	$18.3k0.00%	0.00%	New
71	GE AEROSPACE COM NEW GE	GE	76	$15.2k0.00%	0.00%	New
72	BOEING CO COM BA	BA	86	$14.7k0.00%	0.00%	Reduced -23	-23 -21.1%
73	ALPHA & OMEGA SEMICONDUCTOR SHS AOSL	AOSL	529	$13.2k0.00%	0.00%	Reduced -12.4k	-12,430 -95.9%
74	CREDO TECHNOLOGY GROUP HOLDI ORDINARY SHARES CRDO	CRDO	269	$10.8k0.00%	0.00%	Reduced -3.4k	-3,356 -92.6%
75	QORVO INC COM QRVO	QRVO	79	$5.7k0.00%	0.00%	Unchanged
76	APPLIED OPTOELECTRONICS INC COM AAOI	AAOI	354	$5.4k0.00%	0.00%	Reduced -1.2k	-1,208 -77.3%
77	QUALCOMM INC COM QCOM	QCOM	1	$1540.00%	0.00%	New
78	APPLIED MATLS INC COM AMAT	AMAT	1	$1450.00%	0.00%	New
79	MACOM TECH SOLUTIONS HLDGS I COM MTSI	MTSI	1	$1000.00%	0.00%	Unchanged
80	RAMBUS INC DEL COM RMBS	RMBS	1	$520.00%	0.00%	Unchanged
81	WESTERN DIGITAL CORP COM WDC	WDC	1	$400.00%	0.00%	New
82	KULICKE & SOFFA INDS INC COM KLIC	KLIC	1	$330.00%	0.00%	Unchanged
83	NAVITAS SEMICONDUCTOR CORP COM NVTS	NVTS	11	$230.00%	0.00%	Reduced -408	-408 -97.4%
84	IONQ INC COM IONQ	IONQ	1	$220.00%	0.00%	Unchanged
85	HIMAX TECHNOLOGIES INC SPONSORED ADR HIMX	HIMX	1	$70.00%	0.00%	New
86	AXT INC COM AXTI	AXTI	1	$10.00%	0.00%	Unchanged

Sold out since Q4 2024

Security	Ticker	Shares held before	Value then
NEW ORIENTAL ED & TECHNOLOGY EDU	EDU	559,969	$43.0m560.0k shares
TRIP COM GROUP LTD TCOM	TCOM	292,919	$33.2m292.9k shares
NVIDIA CORPORATION NVDA	NVDA	223,547	$31.1m223.5k shares
MICROSOFT CORP MSFT	MSFT	26,767	$11.3m26.8k shares
MICROSTRATEGY INC MSTR 0 02.15.27	MSTR 0 02.15.27	5,000,000	$10.3m5.0m shares
TENCENT MUSIC ENTMT GROUP TME	TME	421,995	$4.8m422.0k shares
ABBVIE INC ABBV	ABBV	18,483	$3.3m18.5k shares
JD.COM INC JD	JD	54,691	$1.9m54.7k shares
ZTO EXPRESS CAYMAN INC ZTO	ZTO	90,091	$1.8m90.1k shares
REGENERON PHARMACEUTICALS REGN	REGN	1,908	$1.4m1.9k shares
DECKERS OUTDOOR CORP DECK	DECK	3,926	$797.3k3.9k shares
ROYAL CARIBBEAN GROUP RCL	RCL	2,768	$638.5k2.8k shares
ABERCROMBIE & FITCH CO ANF	ANF	4,000	$597.9k4.0k shares
ASE TECHNOLOGY HLDG CO LTD ASX	ASX	55,831	$562.2k55.8k shares
AMPHENOL CORP APH	APH	7,000	$486.1k7.0k shares
TAPESTRY INC TPR	TPR	4,784	$312.5k4.8k shares
CROCS INC CROX	CROX	2,789	$305.5k2.8k shares
LUMENTUM HLDGS INC LITE	LITE	3,418	$286.9k3.4k shares
MARRIOTT INTL INC NEW MAR	MAR	794	$221.5k794 shares
VICTORIAS SECRET AND CO VSXY	VSXY	2,967	$122.9k3.0k shares
PONY AI INC PONY	PONY	7,500	$107.6k7.5k shares
ZILLOW GROUP INC ZG	ZG	1,141	$80.8k1.1k shares
BROADCOM INC AVGO	AVGO	272	$63.1k272 shares
RALPH LAUREN CORP RL	RL	226	$52.2k226 shares
V F CORP VFC	VFC	2,148	$46.1k2.1k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
FREEPORT-MCMORAN INC FCX · Put	FCX	Put	24	$16.0k24 shares	Unchanged
BOEING CO BA · Call	BA	Call	2	$2.0k2 shares	Unchanged