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Ovata Capital Management Ltd

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13F filer, CIK 1724517, HONG KONG, Hong Kong

Ovata Capital Management Ltd reported $499,824,285 across 41 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-21. Its ten largest share positions make up 74.5% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001724517-25-000009

Period
2025-09-30
Reported value
$500M
Holdings
41
Top 10 weight
74.5%
New
13
Sold out
17

Part of the filer group Ovata Capital Management Ltd

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
UBER TECHNOLOGIES INCnew+30,530,000$37.3M
SPOTIFY USA INCnew+25,500,000$34.9M
FORD MOTOR COMPANYnew+20,000,000$20.3M
COINBASE GLOBAL INCnew+14,605,000$16.2M
UAAnew+1,398,745$6.98M

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
HDBexited-380,196-$29.3M
BTCexited-567,872-$27.1M
ALIBABA GROUP HLDG LTDreduced-11,000,000-$20.2M
INFYreduced-1,015,779-$16.5M
JD.COM INCexited-12,000,000-$12.5M

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 0001724517-25-000009, largest first. % of portfolio is the value over $499,824,285, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
IBITISHARES BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 600,268 shares; 2024Q4: 421,268 shares; 2025Q1: 761,468 shares; 2025Q2: 1,142,805 shares; 2025Q3: 1,142,805 shares 1,142,805$74M14.8%0Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly 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: 199,479 shares; 2025Q2: 218,258 shares; 2025Q3: 218,258 shares 218,258$59.3M11.87%0Timeline
ALIBABA GROUP HLDG LTDALIBABA 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: not reported; 2025Q2: 42,000,000 shares; 2025Q3: 31,000,000 shares 31,000,000$57M11.4%-11,000,000
UBER TECHNOLOGIES INCUBER TECHNOLOGIES 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: 30,530,000 shares 30,530,000$37.3M7.45%new
SPOTIFY USA INCSPOTIFY USA 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: 25,500,000 shares 25,500,000$34.9M6.99%new
FBTCFIDELITY WISE ORIGIN BITCOINQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 862,940 shares; 2024Q4: 336,658 shares; 2025Q1: not reported; 2025Q2: 295,558 shares; 2025Q3: 295,558 shares 295,558$29.4M5.88%0Timeline
BABAALIBABA 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: 79,663 shares; 2025Q2: 142,342 shares; 2025Q3: 143,855 shares 143,855$26.2M5.24%+1,513Timeline
FORD MOTOR COMPANYFORD MOTOR COMPANYQuarterly 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: 20,000,000 shares 20,000,000$20.3M4.06%new
H WORLD GROUP LTDH WORLD GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,000,000 shares; 2024Q4: 12,000,000 shares; 2025Q1: 12,000,000 shares; 2025Q2: 13,000,000 shares; 2025Q3: 16,000,000 shares 16,000,000$17.8M3.56%+3,000,000
RYAAYRYANAIR HOLDINGS PLCQuarterly 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: 428,055 shares; 2025Q3: 270,592 shares 270,592$16.2M3.25%-157,463Timeline
COINBASE GLOBAL INCCOINBASE GLOBAL 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: 14,605,000 shares 14,605,000$16.2M3.24%new
TRIP COM GROUP LTDTRIP COM GROUP 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: 7,700,000 shares; 2025Q3: 10,000,000 shares 10,000,000$12.8M2.55%+2,300,000
CASSIMPLIFY EXCHANGE TRADED FUNQuarterly 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: 360,000 shares; 2025Q3: 360,000 shares 360,000$12.7M2.54%0Timeline
ASXASE TECHNOLOGY HLDG CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 272,200 shares; 2025Q1: 1,212,930 shares; 2025Q2: 601,130 shares; 2025Q3: 946,821 shares 946,821$10.4M2.08%+345,691Timeline
RIORIO TINTO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 102,121 shares; 2024Q4: 110,021 shares; 2025Q1: 98,171 shares; 2025Q2: 132,471 shares; 2025Q3: 140,771 shares 140,771$9.28M1.86%+8,300Timeline
NIO INCNIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,500,000 shares; 2024Q4: 10,500,000 shares; 2025Q1: 9,500,000 shares; 2025Q2: 9,500,000 shares; 2025Q3: 8,500,000 shares 8,500,000$8.95M1.79%-1,000,000
UAAUNDER ARMOUR 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: 1,398,745 shares 1,398,745$6.98M1.4%newTimeline
FOXFOX 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: not reported; 2025Q3: 111,555 shares 111,555$6.39M1.28%newTimeline
TCOMTRIP COM GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 72,076 shares; 2024Q4: not reported; 2025Q1: 27,493 shares; 2025Q2: 11,493 shares; 2025Q3: 82,318 shares 82,318$6.31M1.26%+70,825Timeline
WEIBO CORPWEIBO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,000,000 shares; 2025Q1: 10,000,000 shares; 2025Q2: 10,000,000 shares; 2025Q3: 4,500,000 shares 4,500,000$5.85M1.17%-5,500,000
BEPBROOKFIELD RENEWABLE ENERGYQuarterly 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: 174,926 shares 174,926$4.51M0.9%newTimeline
NTESNETEASE COM 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: 17,700 shares; 2025Q2: 7,700 shares; 2025Q3: 25,300 shares 25,300$3.85M0.77%+17,600Timeline
PDD HOLDINGS INCPDD HOLDINGS 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: 8,000,000 shares; 2025Q2: 4,000,000 shares; 2025Q3: 3,000,000 shares 3,000,000$2.97M0.6%-1,000,000
BITBBITWISE BITCOIN ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 469,992 shares; 2024Q4: 390,992 shares; 2025Q1: not reported; 2025Q2: 39,977 shares; 2025Q3: 39,977 shares 39,977$2.48M0.5%0Timeline
PPLIPEOPLE 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: 55,098 shares; 2025Q3: 70,098 shares 70,098$2.39M0.48%+15,000Timeline
INFYINFOSYS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 590,064 shares; 2024Q4: 599,039 shares; 2025Q1: 961,511 shares; 2025Q2: 1,160,848 shares; 2025Q3: 145,069 shares 145,069$2.36M0.47%-1,015,779Timeline
MIRMIRION TECHNOLOGIES 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: 100,000 shares 100,000$2.33M0.47%newTimeline
GOOGALPHABET 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: 3,600 shares; 2025Q2: 3,600 shares; 2025Q3: 9,300 shares 9,300$2.27M0.45%+5,700Timeline
BHPBHP BILLITON LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,000 shares; 2024Q4: 5,900 shares; 2025Q1: 22,622 shares; 2025Q2: 18,701 shares; 2025Q3: 22,687 shares 22,687$1.28M0.26%+3,986Timeline
HEIHEICO CORP NEWQuarterly 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: 5,000 shares; 2025Q3: 5,000 shares 5,000$1.27M0.25%0Timeline
ARMARM HOLDINGS PLCQuarterly 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: 2,045 shares; 2025Q2: not reported; 2025Q3: 7,605 shares 7,605$1.08M0.22%newTimeline
SONYSONY GROUP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,370 shares; 2024Q4: 44,165 shares; 2025Q1: 93,465 shares; 2025Q2: not reported; 2025Q3: 27,000 shares 27,000$777K0.16%newTimeline
LILI AUTO 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: 25,600 shares; 2025Q2: 14,000 shares; 2025Q3: 29,000 shares 29,000$756K0.15%+15,000Timeline
BIDUBAIDU 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: 5,000 shares 5,000$685K0.14%newTimeline
HOLXHOLOGIC 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: 7,894 shares; 2025Q3: 7,894 shares 7,894$533K0.11%0Timeline
BEYOND MEAT INCBEYOND MEAT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,300,000 shares; 2024Q4: 2,300,000 shares; 2025Q1: 2,300,000 shares; 2025Q2: 2,300,000 shares; 2025Q3: 2,300,000 shares 2,300,000$457K0.09%0
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: 22,500 shares; 2025Q3: 27,500 shares 27,500$455K0.09%+5,000Timeline
HMCHONDA MOTOR CO 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: 14,062 shares 14,062$436K0.09%newTimeline
JBSJBS N.V.Quarterly 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: 120,409 shares; 2025Q3: 27,408 shares 27,408$409K0.08%-93,001Timeline
SANASANA BIOTECHNOLOGY 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: 100,000 shares 100,000$355K0.07%newTimeline
FISCALNOTE HOLDINGS INCFISCALNOTE HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 194,545 shares; 2024Q4: 194,545 shares; 2025Q1: 194,545 shares; 2025Q2: 194,545 shares; 2025Q3: 194,545 shares 194,545$12.8K<0.01%0

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
HDBHDFC BANK LTD380,196$29.3Mshares
BTCGRAYSCALE BITCOIN MINI TR ET567,872$27.1Mshares
JD.COM INCJD.COM INC12,000,000$12.5Mshares
AZEK CO INCAZEK CO INC201,908$11Mshares
ZTO EXPRESS CAYMAN INCZTO EXPRESS CAYMAN INC9,000,000$8.95Mshares
SEA LTDSEA LTD3,631,000$6.45Mshares
WITWIPRO LTD1,719,500$5.33Mshares
IBNICICI BK LTD144,100$4.86Mshares
PKXPOSCO HOLDINGS INC95,000$4.61Mshares
WAYFAIR INCWAYFAIR INC3,000,000$4.06Mshares
NIO INCNIO INC3,075,000$2.21Mshares
PANWPALO ALTO NETWORKS INC4,900$1Mshares
WDSWOODSIDE ENERGY GROUP LTD55,600$858Kshares
MAMASTERCARD INCORPORATED900$506Kshares
BILIBILIBILI INC20,000$429Kshares
NKENIKE INC4,660$331Kshares
AGENAGENUS INC32,000$146Kshares

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 0001724517-25-000009 base2025-11-21acceptance time not in the bulk data set