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TB Alternative Assets Ltd.

C/O MAPLES CORPORATE SERVICES LIMITED UGLAND HOUSE, GRAND CAYMAN • 852-3727-0300

Q3 2025 · Filed 2025-10-17
Market Value
$658M
+22.1%
Holdings
55
+4
New Purchases
16
Added To
6
Closed
10
Reduced
22
Top 10 Concentration
66.8%
Turnover
47.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSTR 6.17% 0.00% +6.17% $41M
HOOD 5.26% 0.00% +5.26% $35M
TSLA 4.96% 0.00% +4.96% $33M
META 11.70% 7.42% +4.29% $77M
RKLB 3.78% 0.00% +3.78% $25M
LEU 4.43% 1.42% +3.01% $29M
PDD 6.95% 4.14% +2.81% $46M
DHI 1.76% 0.00% +1.76% $12M
DUOL 1.76% 0.00% +1.76% $12M
YNDX 1.80% 0.04% +1.76% $12M
TCOM 1.14% 0.00% +1.14% $7M
PSKY 1.12% 0.00% +1.12% $7M
ORCL 0.84% 0.00% +0.84% $6M
APP 0.64% 0.00% +0.64% $4M
NVDL 0.48% 0.00% +0.48% $3M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CEG 3.48% 9.83% -6.34% $23M
ASML 0.00% 5.39% -5.39% $0
Z 4.77% 9.31% -4.54% $31M
MRNA 2.59% 6.46% -3.87% $17M
AEM 4.39% 7.54% -3.16% $29M
AMZN 0.00% 2.64% -2.64% $0
GBTC 1.17% 3.70% -2.53% $8M
EBAY 0.23% 2.55% -2.31% $2M
COIN 5.85% 7.61% -1.76% $38M
GOOG 8.91% 9.95% -1.04% $59M
YINN 0.00% 0.94% -0.94% $0
MU 0.00% 0.91% -0.91% $0
BEKE 0.00% 0.88% -0.88% $0
SRAD 0.62% 1.46% -0.84% $4M
SMR 0.00% 0.59% -0.59% $0

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 24.0%
Communication Services 22.7%
Energy 18.2%
Consumer Cyclical 10.9%
Technology 8.2%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 12 $229M 34.8%
Large Cap 31 $323M 49.1%
Mid Cap 10 $94M 14.3%
Small Cap 1 $0 0.0%
Micro Cap 1 $12M 1.8%

Portfolio Analytics

Avg Market Cap
$310.7B
Median Market Cap
$47.5B
Avg P/E
44.3
Median P/E
30.7
Avg Dividend Yield
0.01%
Avg Beta
1.30
# Stocks
52
# ETFs / Funds
3

Top Holdings (55 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 META 11.70% 104,806 $77M $734.38 $37M +50,703 +93.7%
2 GOOG 8.91% 240,431 $59M $243.55 $5M -61,601 -20.4%
3 INTC 7.80% 1,527,898 $51M $33.55 $6M -477,808 -23.8%
4 PDD 6.95% 345,888 $46M $132.17 $23M +133,000 +62.5%
5 MSTR 6.17% 126,000 $41M $322.21 +126,000 NEW
6 COIN 5.85% 114,051 $38M $337.49 -$3M -2,935 -2.5%
7 HOOD 5.26% 241,680 $35M $143.18 +241,680 NEW
8 TSLA 4.96% 73,317 $33M $444.72 +73,317 NEW
9 Z 4.77% 407,118 $31M $77.05 -$19M -308,833 -43.1%
10 LEU 4.43% 93,888 $29M $310.07 $21M +52,181 +125.1%
11 AEM 4.39% 171,140 $29M $168.56 -$12M -170,477 -49.9%
12 RKLB 3.78% 519,235 $25M $47.91 +519,235 NEW
13 CEG 3.48% 69,606 $23M $329.07 -$30M -94,343 -57.5%
14 MRNA 2.59% 658,881 $17M $25.83 -$18M -602,072 -47.8%
15 SY 1.81% 3,067,873 $12M $3.87 $2M
16 YNDX 1.80% 105,505 $12M $112.27 $12M +101,235 +2370.8%
17 DHI 1.76% 68,300 $12M $169.47 +68,300 NEW
18 DUOL 1.76% 35,961 $12M $321.84 +35,961 NEW
19 GBTC 1.17% 85,657 $8M $89.77 -$12M -149,018 -63.5%
20 TCOM 1.14% 99,310 $7M $75.20 +99,310 NEW
21 PSKY 1.12% 389,191 $7M $18.92 +389,191 NEW
22 YMM 1.02% 515,054 $7M $12.97 $416K -15,400 -2.9%
23 ORCL 0.84% 19,616 $6M $281.24 +19,616 NEW
24 TAL 0.75% 440,700 $5M $11.20 $288K -14,100 -3.1%
25 ZTO 0.74% 254,948 $5M $19.20 $3M +172,300 +208.5%
26 REGN 0.74% 8,652 $5M $562.27 $3M +5,494 +174.0%
27 APP 0.64% 5,900 $4M $718.54 +5,900 NEW
28 SRAD 0.62% 152,682 $4M $26.90 -$4M -128,087 -45.6%
29 NVDL 0.48% 34,000 $3M $93.62 +34,000 NEW
30 NTES 0.46% 19,895 $3M $151.99 $252K -700 -3.4%
31 UNH 0.43% 8,163 $3M $345.30 -$2M -8,696 -51.6%
32 BILI 0.40% 92,683 $3M $28.09 $551K -3,000 -3.1%
33 TME 0.37% 104,100 $2M $23.34 $335K -3,400 -3.2%
34 EBAY 0.23% 16,776 $2M $90.95 -$12M -167,393 -90.9%
35 PLTR 0.08% 2,900 $529K $182.42 +2,900 NEW
36 DB 0.08% 14,807 $524K $35.41 +14,807 NEW
37 ALNY 0.08% 1,133 $517K $456.00 $106K -126 -10.0%
38 CNHI 0.08% 46,709 $507K $10.85 -$166K -5,190 -10.0%
39 SPOT 0.08% 720 $503K $698.00 -$111K -80 -10.0%
40 MP 0.07% 7,200 $483K $67.07 +7,200 NEW
41 IDXX 0.06% 615 $393K $638.89 +615 NEW
42 GS 0.05% 447 $356K $796.35 -$1M -1,553 -77.7%
43 CLF 0.05% 27,358 $334K $12.20 -$2M -306,529 -91.8%
44 BNTX 0.03% 2,104 $207K $98.62 -$3M -26,813 -92.7%
45 AZO 0.01% 19 $82K $4,290.26 +19 NEW
46 MU —% -$5M -39,894 -100.0% SOLD
47 YINN —% -$5M -123,359 -100.0% SOLD
48 SMR —% -$3M -80,237 -100.0% SOLD
49 LLY —% -$460K -590 -100.0% SOLD
50 ASML —% -$29M -36,244 -100.0% SOLD
51 AMZN —% -$14M -64,885 -100.0% SOLD
52 BA —% -$2M -8,550 -100.0% SOLD
53 BEKE —% -$5M -265,711 -100.0% SOLD
54 DE —% -$704K -1,384 -100.0% SOLD
55 CRCL —% -$363K -2,000 -100.0% SOLD

New Positions

SymbolValue% Port
MSTR $41M 6.17%
HOOD $35M 5.26%
TSLA $33M 4.96%
RKLB $25M 3.78%
DHI $12M 1.76%
DUOL $12M 1.76%
TCOM $7M 1.14%
PSKY $7M 1.12%
ORCL $6M 0.84%
APP $4M 0.64%
NVDL $3M 0.48%
PLTR $529K 0.08%
DB $524K 0.08%
MP $483K 0.07%
IDXX $393K 0.06%

Sold Out Positions

SymbolValue% Port
DE —%
CRCL —%
BEKE —%
LLY —%
BA —%
SMR —%
ASML —%
AMZN —%
MU —%
YINN —%
View SEC EDGAR Filings for TB Alternative Assets Ltd. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms