AM Squared Ltd

HONG KONG, K3 · CIK 1879167 · 13F filing filed 2024-11-07

Exempt reporting adviser since 2020 · corporation

Private funds1 (1 hedge) · $1.2bn gross assets
Form ADV · 2026-01-29SEC adviser record

Legal entityAM Squared Limited (HK)

Kindhedge funds, futures
Others nearbyHong Kong

As an employer

Offices in1 country
Private fundshedge 1

$45.2m reported value +14.1% vs Q2 2024

69positions

85.4%in top 10

29 new 22 added 15 reduced 35 sold out vs Q2 2024

Holdings, Q3 2024

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	LI AUTO INC NOTE 0.250% 5/0 LI 0.25 05.01.28	LI 0.25 05.01.28	19,000	$22.7m50.15%	50.15%	Added +3.0k	+3,000 18.8%
2	H WORLD GROUP LTD NOTE 3.000% 5/0 HTHT 3 05.01.26	HTHT 3 05.01.26	8,000	$9.2m20.36%	20.36%	Unchanged
3	LENNAR CORP CL A LEN	LEN	10,321	$1.9m4.28%	4.28%	Added +500	+500 5.1%
4	VALE S A SPONSORED ADS VALE	VALE	127,800	$1.5m3.30%	3.30%	New
5	FORD MTR CO COM F	F	76,062	$803.2k1.78%	1.78%	Added +64.1k	+64,100 535.9%
6	STELLANTIS N.V SHS STLA	STLA	45,600	$640.7k1.42%	1.42%	New
7	PPG INDS INC COM PPG	PPG	4,200	$556.3k1.23%	1.23%	Added +1.6k	+1,600 61.5%
8	MOLSON COORS BEVERAGE CO CL B TAP	TAP	7,500	$431.4k0.95%	0.95%	Reduced -8.9k	-8,900 -54.3%
9	SKYWORKS SOLUTIONS INC COM SWKS	SWKS	4,300	$424.7k0.94%	0.94%	New
10	DEXCOM INC COM DXCM	DXCM	6,300	$422.4k0.93%	0.93%	New
11	QUALCOMM INC COM QCOM	QCOM	2,400	$408.1k0.90%	0.90%	New
12	POSCO HOLDINGS INC SPONSORED ADR PKX	PKX	5,000	$349.9k0.77%	0.77%	New
13	QORVO INC COM QRVO	QRVO	2,800	$289.2k0.64%	0.64%	New
14	INSULET CORP COM PODD	PODD	1,100	$256.0k0.57%	0.57%	Added +400	+400 57.1%
15	MGM RESORTS INTERNATIONAL COM MGM	MGM	6,500	$254.1k0.56%	0.56%	New
16	HALLIBURTON CO COM HAL	HAL	7,700	$223.7k0.50%	0.50%	Added +1.0k	+1,000 14.9%
17	SCHLUMBERGER LTD COM STK SLB	SLB	5,000	$209.8k0.46%	0.46%	Added +700	+700 16.3%
18	PARAMOUNT GLOBAL CLASS B COM CLASS B COM		19,400	$206.0k0.46%	0.46%	Added +4.8k	+4,800 32.9%
19	LAS VEGAS SANDS CORP COM LVS	LVS	3,800	$191.3k0.42%	0.42%	Added +2.3k	+2,300 153.3%
20	SAREPTA THERAPEUTICS INC COM SRPT	SRPT	1,400	$174.8k0.39%	0.39%	Added +1.2k	+1,200 600.0%
21	DENTSPLY SIRONA INC COM XRAY	XRAY	6,100	$165.1k0.37%	0.37%	Added +2.5k	+2,500 69.4%
22	NOV INC COM NOV	NOV	9,100	$145.3k0.32%	0.32%	Reduced -6.3k	-6,300 -40.9%
23	DOLLAR GEN CORP NEW COM DG	DG	1,600	$135.3k0.30%	0.30%	Added +400	+400 33.3%
24	AXALTA COATING SYS LTD COM AXTA	AXTA	3,671	$132.9k0.29%	0.29%	New
25	DOLLAR TREE INC COM DLTR	DLTR	1,800	$126.6k0.28%	0.28%	Added +200	+200 12.5%
26	WAYFAIR INC CL A W	W	2,200	$123.6k0.27%	0.27%	Reduced -500	-500 -18.5%
27	STUDIO CITY INTL HLDGS LTD SPON ADS MSC	MSC	16,390	$122.9k0.27%	0.27%	Unchanged
28	INCYTE CORP COM INCY	INCY	1,800	$119.0k0.26%	0.26%	Added +1.0k	+1,000 125.0%
29	LEAR CORP COM NEW LEA	LEA	1,000	$109.2k0.24%	0.24%	Reduced -2.1k	-2,106 -67.8%
30	NEUROCRINE BIOSCIENCES INC COM NBIX	NBIX	900	$103.7k0.23%	0.23%	New
31	MOLINA HEALTHCARE INC COM MOH	MOH	300	$103.4k0.23%	0.23%	Added +100	+100 50.0%
32	BEST BUY INC COM BBY	BBY	1,000	$103.3k0.23%	0.23%	Reduced -600	-600 -37.5%
33	ALIGN TECHNOLOGY INC COM ALGN	ALGN	400	$101.7k0.23%	0.23%	Reduced -100	-100 -20.0%
34	MCKESSON CORP COM MCK	MCK	200	$98.9k0.22%	0.22%	New
35	BAXTER INTL INC COM BAX	BAX	2,600	$98.7k0.22%	0.22%	Reduced -700	-700 -21.2%
36	BIOMARIN PHARMACEUTICAL INC COM BMRN	BMRN	1,400	$98.4k0.22%	0.22%	Added +600	+600 75.0%
37	INTERPUBLIC GROUP COS INC COM IPG	IPG	3,100	$98.1k0.22%	0.22%	Added +1.2k	+1,200 63.2%
38	BIOGEN INC COM BIIB	BIIB	500	$96.9k0.21%	0.21%	Added +400	+400 400.0%
39	MOHAWK INDS INC COM MHK	MHK	600	$96.4k0.21%	0.21%	Unchanged
40	HUMANA INC COM HUM	HUM	300	$95.0k0.21%	0.21%	Added +200	+200 200.0%
41	TARGET CORP COM TGT	TGT	600	$93.5k0.21%	0.21%	Reduced -600	-600 -50.0%
42	GOODYEAR TIRE & RUBR CO COM GT	GT	10,349	$91.6k0.20%	0.20%	New
43	CVS HEALTH CORP COM CVS	CVS	1,400	$88.0k0.19%	0.19%	New
44	COGNEX CORP COM CGNX	CGNX	2,100	$85.0k0.19%	0.19%	Added +2.1k	+2,055 4566.7%
45	ADVANCE AUTO PARTS INC COM AAP	AAP	2,000	$78.0k0.17%	0.17%	Added +1.0k	+1,000 100.0%
46	ULTA BEAUTY INC COM ULTA	ULTA	200	$77.8k0.17%	0.17%	Reduced -400	-400 -66.7%
47	DISNEY WALT CO COM DIS	DIS	800	$77.0k0.17%	0.17%	New
48	STAR BULK CARRIERS CORP. SHS PAR SBLK	SBLK	3,200	$75.8k0.17%	0.17%	New
49	ALBEMARLE CORP COM ALB	ALB	799	$75.7k0.17%	0.17%	Reduced -5.2k	-5,200 -86.7%
50	ZIMMER BIOMET HOLDINGS INC COM ZBH	ZBH	700	$75.6k0.17%	0.17%	Added +300	+300 75.0%
51	ROKU INC COM CL A ROKU	ROKU	1,000	$74.7k0.17%	0.17%	Reduced -100	-100 -9.1%
52	EDWARDS LIFESCIENCES CORP COM EW	EW	1,100	$72.6k0.16%	0.16%	New
53	NXP SEMICONDUCTORS N V COM NXPI	NXPI	300	$72.0k0.16%	0.16%	New
54	PULTE GROUP INC COM PHM	PHM	500	$71.8k0.16%	0.16%	New
55	SONIC AUTOMOTIVE INC CL A SAH	SAH	1,100	$64.3k0.14%	0.14%	Reduced -400	-400 -26.7%
56	SCORPIO TANKERS INC SHS STNG	STNG	900	$64.2k0.14%	0.14%	New
57	VEEVA SYS INC CL A COM VEEV	VEEV	300	$63.0k0.14%	0.14%	Reduced -300	-300 -50.0%
58	GLOBALFOUNDRIES INC ORDINARY SHARES GFS	GFS	1,500	$60.4k0.13%	0.13%	New
59	ROSS STORES INC COM ROST	ROST	400	$60.2k0.13%	0.13%	New
60	RALPH LAUREN CORP CL A RL	RL	300	$58.2k0.13%	0.13%	New
61	BURLINGTON STORES INC COM BURL	BURL	200	$52.7k0.12%	0.12%	New
62	WENDYS CO COM WEN	WEN	2,800	$49.1k0.11%	0.11%	New
63	TAKE-TWO INTERACTIVE SOFTWAR COM TTWO	TTWO	300	$46.1k0.10%	0.10%	New
64	D R HORTON INC COM DHI	DHI	200	$38.2k0.08%	0.08%	Reduced -100	-100 -33.3%
65	MERCK & CO INC COM MRK	MRK	300	$34.1k0.08%	0.08%	New
66	ELANCO ANIMAL HEALTH INC COM ELAN	ELAN	2,300	$33.8k0.07%	0.07%	New
67	CARDINAL HEALTH INC COM CAH	CAH	300	$33.2k0.07%	0.07%	New
68	MODERNA INC COM MRNA	MRNA	200	$13.4k0.03%	0.03%	New
69	GENERAL MTRS CO COM GM	GM	23	$1.0k0.00%	0.00%	Reduced -4.8k	-4,800 -99.5%

Sold out since Q2 2024

Security	Ticker	Shares held before	Value then
WESTERN DIGITAL CORP WDC	WDC	39,455	$3.0m39.5k shares
MICROSOFT CORP MSFT	MSFT	4,800	$2.1m4.8k shares
UNITED AIRLS HLDGS INC UAL	UAL	9,700	$472.0k9.7k shares
ADIENT PLC ADNT	ADNT	13,700	$338.5k13.7k shares
PEPSICO INC PEP	PEP	1,900	$313.4k1.9k shares
DELTA AIR LINES INC DEL DAL	DAL	4,400	$208.7k4.4k shares
MONSTER BEVERAGE CORP NEW MNST	MNST	4,116	$205.6k4.1k shares
DOW INC DOW	DOW	3,200	$169.8k3.2k shares
ROCKWELL AUTOMATION INC ROK	ROK	501	$137.9k501 shares
TEREX CORP NEW TEX	TEX	2,300	$126.1k2.3k shares
APA CORPORATION APA	APA	3,800	$111.9k3.8k shares
EMERSON ELEC CO EMR	EMR	1,000	$110.2k1.0k shares
TELADOC HEALTH INC TDOC	TDOC	10,200	$99.8k10.2k shares
HUNTINGTON INGALLS INDS INC HII	HII	400	$98.5k400 shares
FORTIVE CORP FTV	FTV	1,200	$88.9k1.2k shares
NORTHROP GRUMMAN CORP NOC	NOC	200	$87.2k200 shares
EXACT SCIENCES CORP EXAS	EXAS	1,800	$76.0k1.8k shares
STANLEY BLACK & DECKER INC SWK	SWK	900	$71.9k900 shares
LEGEND BIOTECH CORP LEGN	LEGN	1,600	$70.9k1.6k shares
TELEFLEX INCORPORATED TFX	TFX	300	$63.1k300 shares
KENNAMETAL INC KMT	KMT	2,620	$61.7k2.6k shares
RESMED INC RMD	RMD	300	$57.4k300 shares
AIR PRODS & CHEMS INC APD	APD	200	$51.6k200 shares
IDEXX LABS INC IDXX	IDXX	100	$48.7k100 shares
SOUTHWEST AIRLS CO LUV	LUV	1,300	$37.2k1.3k shares