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TB Alternative Assets Ltd.

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

Q4 2025 · Filed 2026-01-16
Market Value
$609M
-7.3%
Holdings
63
+8
New Purchases
18
Added To
6
Closed
15
Reduced
12
Top 10 Concentration
75.8%
Turnover
52.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOG 16.11% 8.91% +7.21% $98M
META 18.76% 11.70% +7.06% $114M
SQQQ 5.10% 0.00% +5.10% $31M
FIGR 4.57% 0.00% +4.57% $28M
AAPL 3.21% 0.00% +3.21% $20M
NVO 2.22% 0.00% +2.22% $14M
AEM 6.39% 4.39% +2.00% $39M
SNOW 1.65% 0.00% +1.65% $10M
DHI 3.28% 1.76% +1.52% $20M
MP 1.49% 0.07% +1.42% $9M
AVGO 0.92% 0.00% +0.92% $6M
TSM 0.48% 0.00% +0.48% $3M
U 0.48% 0.00% +0.48% $3M
SHOP 0.45% 0.00% +0.45% $3M
JEF 0.36% 0.00% +0.36% $2M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
COIN 0.00% 5.85% -5.85% $0
HOOD 0.00% 5.26% -5.26% $0
TSLA 0.63% 4.96% -4.33% $4M
RKLB 0.90% 3.78% -2.89% $5M
MSTR 3.31% 6.17% -2.86% $20M
MRNA 0.00% 2.59% -2.59% $0
CEG 1.58% 3.48% -1.90% $10M
YNDX 0.00% 1.80% -1.80% $0
DUOL 0.00% 1.76% -1.76% $0
GBTC 0.00% 1.17% -1.17% $0
ORCL 0.00% 0.84% -0.84% $0
LEU 3.62% 4.43% -0.80% $22M
ZTO 0.00% 0.74% -0.74% $0
REGN 0.00% 0.74% -0.74% $0
Z 4.10% 4.77% -0.67% $25M

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 13 $292M 47.9%
Large Cap 36 $192M 31.5%
Mid Cap 12 $116M 19.1%
Micro Cap 2 $9M 1.5%

Portfolio Analytics

Avg Market Cap
$354.4B
Median Market Cap
$47.5B
Avg P/E
47.9
Median P/E
31.4
Avg Dividend Yield
0.01%
Avg Beta
1.30
# Stocks
60
# ETFs / Funds
3

Top Holdings (63 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 META 18.76% 173,186 $114M $660.09 $37M +68,380 +65.2%
2 GOOG 16.11% 312,831 $98M $313.80 $40M +72,400 +30.1%
3 INTC 7.49% 1,236,692 $46M $36.90 -$6M -291,206 -19.1%
4 AEM 6.39% 229,630 $39M $169.53 $10M +58,490 +34.2%
5 PDD 6.33% 340,228 $39M $113.39 -$7M -5,660 -1.6%
6 SQQQ 5.10% 453,250 $31M $68.50 +453,250 NEW
7 FIGR 4.57% 681,668 $28M $40.84 +681,668 NEW
8 Z 4.10% 366,272 $25M $68.22 -$6M -40,846 -10.0%
9 LEU 3.62% 90,972 $22M $242.76 -$7M -2,916 -3.1%
10 MSTR 3.31% 132,801 $20M $151.95 -$20M +6,801 +5.4%
11 DHI 3.28% 138,614 $20M $144.03 $8M +70,314 +103.0%
12 AAPL 3.21% 72,024 $20M $271.86 +72,024 NEW
13 NVO 2.22% 266,165 $14M $50.88 +266,165 NEW
14 SNOW 1.65% 45,768 $10M $219.36 +45,768 NEW
15 CEG 1.58% 27,242 $10M $353.27 -$13M -42,364 -60.9%
16 MP 1.49% 179,886 $9M $50.52 $9M +172,686 +2398.4%
17 SY 1.29% 3,067,873 $8M $2.56 -$4M
18 TCOM 1.07% 90,320 $6M $71.91 -$973K -8,990 -9.1%
19 AVGO 0.92% 16,120 $6M $346.10 +16,120 NEW
20 RKLB 0.90% 78,200 $5M $69.76 -$19M -441,035 -84.9%
21 PSKY 0.86% 389,191 $5M $13.40 -$2M
22 YMM 0.82% 468,434 $5M $10.73 -$2M -46,620 -9.1%
23 TAL 0.72% 400,810 $4M $10.91 -$563K -39,890 -9.1%
24 TSLA 0.63% 8,508 $4M $449.72 -$29M -64,809 -88.4%
25 TSM 0.48% 9,600 $3M $303.89 +9,600 NEW
26 U 0.48% 65,846 $3M $44.17 +65,846 NEW
27 SHOP 0.45% 17,074 $3M $160.97 +17,074 NEW
28 JEF 0.36% 35,234 $2M $61.97 +35,234 NEW
29 TME 0.27% 94,650 $2M $17.53 -$770K -9,450 -9.1%
30 YOUL 0.23% 1,000,000 $1M $1.43 +1,000,000 NEW
31 APP 0.14% 1,221 $823K $673.82 -$3M -4,679 -79.3%
32 CRM 0.12% 2,813 $745K $264.91 +2,813 NEW
33 MU 0.11% 2,400 $685K $285.41 +2,400 NEW
34 DB 0.09% 14,807 $571K $38.56 $47K
35 PLTR 0.08% 2,900 $515K $177.75 -$14K
36 TPL 0.08% 1,650 $474K $287.22 +1,650 NEW
37 AMD 0.08% 2,200 $471K $214.16 +2,200 NEW
38 ALNY 0.07% 1,133 $451K $397.65 -$66K
39 CNHI 0.07% 46,709 $431K $9.22 -$76K
40 SPOT 0.07% 720 $418K $580.71 -$84K
41 BE 0.07% 4,803 $417K $86.89 +4,803 NEW
42 IDXX 0.07% 615 $416K $676.53 $23K
43 LB 0.07% 8,141 $399K $48.99 +8,141 NEW
44 GS 0.06% 447 $393K $879.00 $37K
45 CLF 0.06% 27,358 $363K $13.28 $30K
46 BNTX 0.03% 2,104 $200K $95.20 -$7K
47 ONC 0.02% 487 $148K $303.81 +487 NEW
48 AZO 0.01% 19 $64K $3,391.53 -$17K
49 UNH —% -$3M -8,163 -100.0% SOLD
50 YNDX —% -$12M -105,505 -100.0% SOLD
51 HOOD —% -$35M -241,680 -100.0% SOLD
52 DUOL —% -$12M -35,961 -100.0% SOLD
53 SRAD —% -$4M -152,682 -100.0% SOLD
54 EBAY —% -$2M -16,776 -100.0% SOLD
55 ZTO —% -$5M -254,948 -100.0% SOLD
56 REGN —% -$5M -8,652 -100.0% SOLD
57 BILI —% -$3M -92,683 -100.0% SOLD
58 MRNA —% -$17M -658,881 -100.0% SOLD
59 NVDL —% -$3M -34,000 -100.0% SOLD
60 COIN —% -$38M -114,051 -100.0% SOLD
61 NTES —% -$3M -19,895 -100.0% SOLD
62 GBTC —% -$8M -85,657 -100.0% SOLD
63 ORCL —% -$6M -19,616 -100.0% SOLD

New Positions

SymbolValue% Port
SQQQ $31M 5.10%
FIGR $28M 4.57%
AAPL $20M 3.21%
NVO $14M 2.22%
SNOW $10M 1.65%
AVGO $6M 0.92%
TSM $3M 0.48%
U $3M 0.48%
SHOP $3M 0.45%
JEF $2M 0.36%
YOUL $1M 0.23%
CRM $745K 0.12%
MU $685K 0.11%
TPL $474K 0.08%
AMD $471K 0.08%

Sold Out Positions

SymbolValue% Port
ZTO —%
UNH —%
HOOD —%
DUOL —%
COIN —%
MRNA —%
BILI —%
GBTC —%
REGN —%
NTES —%
SRAD —%
EBAY —%
NVDL —%
ORCL —%
YNDX —%
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