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Infini Capital Management Ltd

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13F filer, CIK 1936249, CENTRAL, Hong Kong

Infini Capital Management Ltd reported $102,015,101 across 11 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-13. Its ten largest share positions make up 100% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001936249-25-000012

Period
2025-09-30
Reported value
$102M
Holdings
11
Top 10 weight
100%
New
2
Sold out
11

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BEKEadded+127,967$2.43M
GDSadded+13,000$503K
ZLABnew+12,480$423K
BILInew+780$21.9K

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
BABAreduced-303,957-$54.3M
INFYexited-926,200-$17.2M
VNETreduced-1,156,688-$11.9M
PLTKexited-1,150,890-$5.44M
ASexited-135,000-$5.23M

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 0001936249-25-000012, largest first. % of portfolio is the value over $102,015,101, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VNETVNET GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,010,422 shares; 2024Q4: 7,010,422 shares; 2025Q1: 7,010,422 shares; 2025Q2: 9,758,083 shares; 2025Q3: 8,601,395 shares 8,601,395$88.9M87.1%-1,156,688Timeline
BIDUBAIDU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,200 shares; 2024Q4: 180,360 shares; 2025Q1: 81,736 shares; 2025Q2: 56,161 shares; 2025Q3: 33,399 shares 33,399$4.4M4.31%-22,762Timeline
KCKINGSOFT CLOUD HLDGS LTDQuarterly 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: 180,400 shares; 2025Q3: 165,966 shares 165,966$2.48M2.43%-14,434Timeline
BEKEKE HLDGS 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: 175,206 shares; 2025Q2: 73 shares; 2025Q3: 128,040 shares 128,040$2.43M2.38%+127,967Timeline
GDSGDS HLDGS LTDQuarterly 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: 33,600 shares; 2025Q2: 100 shares; 2025Q3: 13,100 shares 13,100$507K0.5%+13,000Timeline
ZLABZAI LAB LTDQuarterly 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: not reported; 2025Q3: 12,480 shares 12,480$423K0.41%newTimeline
CHACHAGEE HLDGS LTDQuarterly 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: 26,088 shares; 2025Q3: 24,000 shares 24,000$397K0.39%-2,088Timeline
BILIBILIBILI 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: not reported; 2025Q3: 780 shares 780$21.9K0.02%newTimeline
MNSOMINISO GROUP HLDG LTDQuarterly 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: 15,650 shares; 2025Q2: 15,650 shares; 2025Q3: 950 shares 950$21.4K0.02%-14,700Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 198,050 shares; 2024Q4: not reported; 2025Q1: 25 shares; 2025Q2: 303,975 shares; 2025Q3: 18 shares 18$3.22K<0.01%-303,957Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
PDD HOLDINGS INCPDD HOLDINGS INC NOTE 12/0principal2,500,000$2.48M0

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
INFYINFOSYS LTD926,200$17.2Mshares
PLTKPLAYTIKA HLDG CORP1,150,890$5.44Mshares
ASAMER SPORTS INC135,000$5.23Mshares
NCNONCINO INC131,355$3.67Mshares
LILI AUTO INC74,000$2.01Mshares
ZTO EXPRESS CAYMAN INCZTO EXPRESS CAYMAN INC2,000,000$1.99Mprincipal
CRCLCIRCLE INTERNET GROUP INC6,200$1.12Mshares
SMRNUSCALE PWR CORP25,000$989Kshares
SOXSDIREXION DAILY SEMI BEAR 3X102,000$805Kshares
RDDTREDDIT INC4,000$602Kshares
OKLOOKLO INC5,000$280Kshares

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 0001936249-25-000012 base2025-11-13acceptance time not in the bulk data set