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Athos Capital Ltd

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13F filer, CIK 1681662, HONG KONG, Hong Kong

Athos Capital Ltd reported $260,894,000 across 37 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-12. Its ten largest share positions make up 86.84% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001681662-26-000002

Period
2025-12-31
Reported value
$261M
Holdings
37
Top 10 weight
86.84%
New
12
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MOMOnew+7,230,359$47.4M
KVUEadded+957,749$16.5M
RNAMnew+184,564$13.3M
HOLXnew+170,000$12.7M
CDTXnew+40,000$8.84M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MERUS N Vexited-80,000-$7.53M
Kexited-36,755-$3.02M
PNFPexited-22,573-$2.12M
BEKEreduced-82,800-$1.3M
INTERPUBLIC GROUP COSexited-26,819-$749K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001681662-26-000002, largest first. % of portfolio is the value over $248,834,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
KVUEKENVUE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,500,000 shares; 2025Q4: 3,457,749 shares 3,457,749$59.6M23.97%+957,749Timeline
MOMOHELLO GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 7,230,359 shares 7,230,359$47.4M19.03%newTimeline
BEKEKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,500,000 shares; 2025Q4: 2,417,200 shares 2,417,200$38.1M15.31%-82,800Timeline
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 184,564 shares 184,564$13.3M5.35%newTimeline
HOLXHOLOGIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 170,000 shares 170,000$12.7M5.09%newTimeline
GTLSCHART INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 57,860 shares; 2025Q4: 56,060 shares 56,060$11.6M4.65%-1,800Timeline
CDTXCIDARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 40,000 shares 40,000$8.84M3.55%newTimeline
FOLDAMICUS THERAPEUTICQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 600,000 shares 600,000$8.54M3.43%newTimeline
TXNMTXNM ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 142,842 shares; 2025Q4: 138,142 shares 138,142$8.13M3.27%-4,700Timeline
LBRDKLIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 60,000 shares; 2024Q4: 57,900 shares; 2025Q1: 57,900 shares; 2025Q2: not reported; 2025Q3: 169,122 shares; 2025Q4: 163,522 shares 163,522$7.95M3.19%-5,600Timeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 20,000 shares; 2025Q4: 19,400 shares 19,400$5.6M2.25%-600Timeline
JHGJANUS HENDERSON GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 85,000 shares 85,000$4.04M1.62%newTimeline
JOYYJOYY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 54,900 shares; 2024Q4: 54,900 shares; 2025Q1: 54,900 shares; 2025Q2: 54,900 shares; 2025Q3: 59,633 shares; 2025Q4: 58,333 shares 58,333$3.78M1.52%-1,300Timeline
CFLTCONFLUENT INC-CLASS AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 114,000 shares 114,000$3.45M1.39%newTimeline
RNWRENEW ENERGY GLOBAL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 507,079 shares 507,079$2.87M1.15%newTimeline
TASKTASKUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 200,000 shares; 2025Q3: 144,179 shares; 2025Q4: 240,760 shares 240,760$2.84M1.14%+96,581Timeline
FACTUFACT II ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 250,000 shares; 2025Q1: 250,000 shares; 2025Q2: 250,000 shares; 2025Q3: 250,000 shares; 2025Q4: 250,000 shares 250,000$2.63M1.06%0Timeline
CHACHAGEE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 162,800 shares; 2025Q3: 174,332 shares; 2025Q4: 145,232 shares 145,232$1.69M0.68%-29,100Timeline
DYNCUDYNAMIX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 250,000 shares; 2025Q1: 250,000 shares; 2025Q2: 250,000 shares; 2025Q3: 125,000 shares; 2025Q4: 125,000 shares 125,000$1.36M0.55%0Timeline
BLBLACKLINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,000 shares 20,000$1.11M0.44%newTimeline
BEAGUBOLD EAGLE ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares; 2025Q4: 100,000 shares 100,000$1.06M0.43%0Timeline
OACCUOAKTREE ACQUISITION CORP IIIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 50,000 shares; 2025Q1: 50,000 shares; 2025Q2: 50,000 shares; 2025Q3: 50,000 shares; 2025Q4: 50,000 shares 50,000$536K0.22%0Timeline
HUYAHUYA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 127,346 shares; 2024Q4: 127,346 shares; 2025Q1: 127,346 shares; 2025Q2: 127,346 shares; 2025Q3: 138,290 shares; 2025Q4: 135,190 shares 135,190$389K0.16%-3,100Timeline
LANVIN GROUP HOLDINGS LIMITELANVIN GROUP HOLDINGS LIMITEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 157,703 shares; 2024Q4: 157,703 shares; 2025Q1: 157,703 shares; 2025Q2: 157,703 shares; 2025Q3: 157,703 shares; 2025Q4: 157,703 shares 157,703$317K0.13%0
LEGTULEGATO MERGER CORP IIIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,000 shares; 2024Q4: 25,000 shares; 2025Q1: 25,000 shares; 2025Q2: 25,000 shares; 2025Q3: 25,000 shares; 2025Q4: 25,000 shares 25,000$282K0.11%0Timeline
CHURCHILL CAPITAL CORP IXCHURCHILL CAPITAL CORP IXQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,000 shares; 2024Q4: 25,000 shares; 2025Q1: 25,000 shares; 2025Q2: 25,000 shares; 2025Q3: 25,000 shares; 2025Q4: 25,000 shares 25,000$266K0.11%0
ECXWWECARX HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,368 shares; 2024Q4: 92,368 shares; 2025Q1: 92,368 shares; 2025Q2: 92,368 shares; 2025Q3: 92,368 shares; 2025Q4: 92,368 shares 92,368$159K0.06%0Timeline
DOYUDOUYU INTL HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,925 shares; 2024Q4: 19,925 shares; 2025Q1: 19,925 shares; 2025Q2: 19,925 shares; 2025Q3: 21,563 shares; 2025Q4: 21,063 shares 21,063$143K0.06%-500Timeline
TGEWSGENERATION ESSENTIALS GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 83,331 shares; 2025Q3: 83,331 shares; 2025Q4: 83,331 shares 83,331$87K0.03%0Timeline
SPWRWSUNPOWER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,420 shares; 2024Q4: 28,420 shares; 2025Q1: 28,420 shares; 2025Q2: 28,420 shares; 2025Q3: 28,420 shares; 2025Q4: 28,420 shares 28,420$44K0.02%0Timeline
SDSTWSTARDUST PWR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,378 shares; 2024Q4: 11,378 shares; 2025Q1: 11,378 shares; 2025Q2: 11,378 shares; 2025Q3: 11,378 shares; 2025Q4: 11,378 shares 11,378$35K0.01%0Timeline
MRNOWMURANO GLOBAL INVT PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 42,840 shares; 2024Q4: 42,840 shares; 2025Q1: 42,840 shares; 2025Q2: 42,840 shares; 2025Q3: 42,840 shares; 2025Q4: 42,840 shares 42,840$25K0.01%0Timeline
COCHWENVOY MEDICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,588 shares; 2024Q4: 28,588 shares; 2025Q1: 28,588 shares; 2025Q2: 28,588 shares; 2025Q3: 28,588 shares; 2025Q4: 28,588 shares 28,588$19K0.01%0Timeline
CPTWFCAPTIVISION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 32,075 shares; 2024Q4: 32,075 shares; 2025Q1: 32,075 shares; 2025Q2: 32,075 shares; 2025Q3: 32,075 shares; 2025Q4: 32,075 shares 32,075$11K<0.01%0Timeline
ASBPWASPIRE-LAKEWOOD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 21,383 shares; 2025Q2: 21,383 shares; 2025Q3: not reported; 2025Q4: 21,383 shares 21,383$3K<0.01%newTimeline
PIIIWP3 HEALTH PARTNERS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 37,052 shares; 2024Q4: 37,052 shares; 2025Q1: 37,052 shares; 2025Q2: 37,052 shares; 2025Q3: not reported; 2025Q4: 37,052 shares 37,052$3K<0.01%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
CWANCLEARWATER ANALYTICS HLDGS I CL Acall500,000$12.1Mnew

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MERUS N VMERUS N V80,000$7.53Mshares
PZZAPAPA JOHNS INTL INC100,000$4.82Mcall
KKELLANOVA36,755$3.02Mshares
PNFPPINNACLE FINANCIAL PARTNERS22,573$2.12Mshares
INTERPUBLIC GROUP COSINTERPUBLIC GROUP COS26,819$749Kshares
SOHUSOHU COM LTD8,857$138Kshares
CORZCORE SCIENTIFIC INC NEW4,221$76Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001681662-26-000002 base2026-02-12acceptance time not in the bulk data set