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Disclosery

HSG Holding Ltd

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13F filer, CIK 1470766, NA, Hong Kong

HSG Holding Ltd reported $1,921,160,939 across 19 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 98.5% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001193125-25-282908

The filing omits holdings under a confidential treatment request (H8). A later amendment may add them.

Period
2025-09-30
Reported value
$1.92B
Holdings
19
Top 10 weight
98.5%
New
0
Sold out
0

Part of the filer group HSG Holding Ltd

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BULLadded+96,359$1.07M

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
PDDreduced-2,247,569-$294M
PONYreduced-4,846,092-$93.2M
FUTUreduced-317,292-$53.7M
NOAHreduced-2,479,905-$28.1M

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, Q3 2025

Share positions as resolved from 13F-HR 0001193125-25-282908, largest first. % of portfolio is the value over $1,921,160,942, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,444,770 shares; 2024Q4: 13,595,995 shares; 2025Q1: 13,595,995 shares; 2025Q2: 13,595,995 shares; 2025Q3: 11,348,426 shares 11,348,426$1.48B77.21%-2,247,569The filing omitted confidential holdings, a later amendment may add them.Timeline
FUTUFUTU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,057,644 shares; 2024Q4: 1,057,644 shares; 2025Q1: 1,057,644 shares; 2025Q2: 1,057,644 shares; 2025Q3: 740,352 shares 740,352$125M6.52%-317,292The filing omitted confidential holdings, a later amendment may add them.Timeline
BULLWEBULL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 9,457,280 shares; 2025Q3: 9,553,639 shares 9,553,639$106M5.54%+96,359The filing omitted confidential holdings, a later amendment may add them.Timeline
BZKANZHUN LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,544,856 shares; 2024Q4: 7,358,396 shares; 2025Q1: 1,900,000 shares; 2025Q2: 1,900,000 shares; 2025Q3: 1,900,000 shares 1,900,000$41.8M2.17%0The filing omitted confidential holdings, a later amendment may add them.Timeline
COE51TALK ONLINE EDUCATION GROUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 667,223 shares; 2024Q4: 667,223 shares; 2025Q1: 667,223 shares; 2025Q2: 667,223 shares; 2025Q3: 667,223 shares 667,223$36.6M1.9%0The filing omitted confidential holdings, a later amendment may add them.Timeline
BEKEKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,908,525 shares; 2024Q4: 1,939,017 shares; 2025Q1: 1,939,017 shares; 2025Q2: 1,939,017 shares; 2025Q3: 1,939,017 shares 1,939,017$35.7M1.86%0The filing omitted confidential holdings, a later amendment may add them.Timeline
PONYPONY AI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,922,997 shares; 2025Q3: 1,076,905 shares 1,076,905$20.7M1.08%-4,846,092The filing omitted confidential holdings, a later amendment may add them.Timeline
DDLDINGDONG CAYMAN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,141,166 shares; 2024Q4: 11,141,166 shares; 2025Q1: 11,141,166 shares; 2025Q2: 11,141,166 shares; 2025Q3: 11,141,166 shares 11,141,166$20.5M1.07%0The filing omitted confidential holdings, a later amendment may add them.Timeline
AVBPARRIVENT BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 663,308 shares; 2024Q4: 663,308 shares; 2025Q1: 663,308 shares; 2025Q2: 663,308 shares; 2025Q3: 663,308 shares 663,308$13M0.68%0The filing omitted confidential holdings, a later amendment may add them.Timeline
LOTLOTUS TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,128,092 shares; 2024Q4: 4,834,099 shares; 2025Q1: 4,834,099 shares; 2025Q2: 4,834,099 shares; 2025Q3: 4,834,099 shares 4,834,099$9.09M0.47%0The filing omitted confidential holdings, a later amendment may add them.Timeline
THCHTH INTERNATIONAL LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,900,606 shares; 2025Q3: 2,900,606 shares 2,900,606$7.05M0.37%0The filing omitted confidential holdings, a later amendment may add them.Timeline
BTDRBITDEER TECHNOLOGIES GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 293,732 shares; 2024Q4: 293,732 shares; 2025Q1: 293,732 shares; 2025Q2: 293,732 shares; 2025Q3: 293,732 shares 293,732$6.95M0.36%0The filing omitted confidential holdings, a later amendment may add them.Timeline
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 266,062 shares; 2024Q4: 266,062 shares; 2025Q1: 266,062 shares; 2025Q2: 266,062 shares; 2025Q3: 266,062 shares 266,062$4.61M0.24%0The filing omitted confidential holdings, a later amendment may add them.Timeline
NOAHNOAH HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,300,000 shares; 2024Q4: 2,988,830 shares; 2025Q1: 2,988,830 shares; 2025Q2: 2,876,720 shares; 2025Q3: 396,815 shares 396,815$4.5M0.23%-2,479,905The filing omitted confidential holdings, a later amendment may add them.Timeline
ADAGADAGENE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,343,364 shares; 2024Q4: 1,343,364 shares; 2025Q1: 1,343,364 shares; 2025Q2: 1,343,364 shares; 2025Q3: 1,343,364 shares 1,343,364$2.54M0.13%0The filing omitted confidential holdings, a later amendment may add them.Timeline
BRNSBARINTHUS BIOTHERAPEUTICS PLQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,420,473 shares; 2024Q4: 1,420,473 shares; 2025Q1: 1,420,473 shares; 2025Q2: 1,420,473 shares; 2025Q3: 1,420,473 shares 1,420,473$1.96M0.1%0The filing omitted confidential holdings, a later amendment may add them.Timeline
SLAISOLAI LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 350,427 shares; 2024Q4: 350,427 shares; 2025Q1: 350,427 shares; 2025Q2: 350,427 shares; 2025Q3: 350,427 shares 350,427$855K0.04%0The filing omitted confidential holdings, a later amendment may add them.Timeline
BNRBURNING ROCK BIOTECH LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 21,212 shares; 2025Q1: 21,212 shares; 2025Q2: 21,212 shares; 2025Q3: 21,212 shares 21,212$215K0.01%0The filing omitted confidential holdings, a later amendment may add them.Timeline
LYELLYELL IMMUNOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 152,299 shares; 2025Q3: 152,299 shares 152,299$73.1K<0.01%0The filing omitted confidential holdings, a later amendment may add them.Timeline

How Q3 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 0001193125-25-282908 base2025-11-14acceptance time not in the bulk data set