Ariose Capital Management Ltd
Long book
$148.9M
Q1 2026
Positions
15
Top-10 weight
94%
concentration
Last quarter
+16.2%
SPY +14.8%
Turnover
84%
of book per quarter
Strategy in plain words
auto-generated from filingsAriose Capital Management Ltd is a concentrated fundamental stock-picker, specialised in technology (77% of the long book), running a $148.9M US long book across 15 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: AXT INC, SEAGATE TECHNOLOGY HOLDINGS, CORNING INC, VICOR CORP, DAQO NEW ENERGY CORP-ADR.
Over the last 9 quarters its long book ran on average 0.3pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.7%
Q2 2024
+12.6%
Q3 2024
+4.6%
Q4 2024
-15.1%
Q1 2025
+6.1%
Q2 2025
+13.3%
Q3 2025
+9.6%
Q4 2025
-5.1%
Q1 2026
+16.2%
Sector allocation
Technology 50%
Other 30%
Industrials 14%
Materials 6%
Long book by quarter
What does Ariose Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AXTI AXT INC | Technology | 685.5K | $39.1M | 26.2% | New |
| STXN SEAGATE TECHNOLOGY HOLDINGS | — | 96.6K | $37.8M | 25.4% | New |
| GLW CORNING INC | Industrials | 126.7K | $17.2M | 11.6% | New |
| VICR VICOR CORP | Technology | 72.8K | $11.7M | 7.9% | New |
| AAOI APPLIED OPTOELECTRONICS INC | Technology | 104.0K | $8.8M | 5.9% | New |
| SGML SIGMA LITHIUM CORP | Materials | 310.1K | $3.8M | 2.6% | New |
| CCJ CAMECO CORP | Materials | 34.5K | $3.7M | 2.5% | New |
| LITE LUMENTUM HOLDINGS INC | Technology | 2.8K | $2.0M | 1.3% | New |
| NVDA NVIDIA CORP | Technology | 8.4K | $1.5M | 1.0% | -97.4% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 28, 2026 | 15 | $148.9M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 29, 2026 | 14 | $298.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 21, 2025 | 35 | $298.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 17, 2025 | 18 | $158.2M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 30, 2025 | 12 | $91.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 16, 2025 | 13 | $120.8M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 22, 2024 | 9 | $116.8M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 25, 2024 | 13 | $131.0M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 30, 2024 | 12 | $189.9M | canonical | SEC ↗ |