Q Fund Management (Hong Kong) Ltd
Long book
$41.7M
Q1 2026
Positions
21
Top-10 weight
94%
concentration
Last quarter
+39.8%
SPY +14.8%
Turnover
71%
of book per quarter
Strategy in plain words
auto-generated from filingsQ Fund Management (Hong Kong) Ltd is a concentrated fundamental stock-picker, specialised in technology (91% of the long book), running a $41.7M US long book across 21 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: LUMENTUM HOLDINGS INC, AXT INC, TOWER SEMICONDUCTOR LTD, SANDISK CORP, ISHARES 7-10 YEAR TREASURY B.
Over the last 6 quarters its long book ran on average 11.4pp per quarter ahead of the S&P 500, beating the index in 4 of 6 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
Q4 2024
-18.4%
Q1 2025
+64.6%
Q2 2025
+24.1%
Q3 2025
-18.9%
Q4 2025
+5.0%
Q1 2026
+39.8%
Sector allocation
Technology 92%
Financials 3%
Industrials 2%
Energy 1%
Materials 1%
Services media 1%
Consumer discretionary 1%
Other 0%
Long book by quarter
What does Q Fund own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| LITE LUMENTUM HOLDINGS INC | Technology | 17.8K | $12.5M | 30.0% | New |
| AXTI AXT INC | Technology | 124.3K | $7.1M | 17.0% | New |
| TSEM TOWER SEMICONDUCTOR LTD | Technology | 40.2K | $7.1M | 16.9% | New |
| SNDK SANDISK CORP | Technology | 10.3K | $6.5M | 15.7% | -66.7% |
| INTC INTEL CORP | Technology | 25.0K | $1.1M | 2.6% | -88.0% |
| GOOGL ALPHABET INC-CL A | Technology | 2.5K | $719K | 1.7% | -41.9% |
| AAOI APPLIED OPTOELECTRONICS INC | Technology | 8.0K | $677K | 1.6% | New |
| BE BLOOM ENERGY CORP- A | Industrials | 4.3K | $583K | 1.4% | New |
| WULF TERAWULF INC | Financials | 38.0K | $548K | 1.3% | +58.3% |
| TPL TEXAS PACIFIC LAND CORP | Financials | 1.0K | $475K | 1.1% | New |
| OXY OCCIDENTAL PETROLEUM CORP | Energy | 6.0K | $390K | 0.9% | Held |
| SOLS SOLSTICE ADV MATERIALS INC | Materials | 5.0K | $381K | 0.9% | New |
| UBER UBER TECHNOLOGIES INC | Services media | 4.0K | $288K | 0.7% | +33.3% |
| AMZN AMAZON.COM INC | Consumer discretionary | 1.0K | $208K | 0.5% | -50.0% |
| NKE NIKE INC -CL B | Other | 3.0K | $158K | 0.4% | Held |
| MSFT MICROSOFT CORP | Technology | 100 | $37K | 0.1% | New |
| LULU LULULEMON ATHLETICA INC | Other | 200 | $31K | 0.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR/ARESTATEMENT | Apr 29, 2026 | 21 | $41.7M | canonical | SEC ↗ |
| Q1 2026 | 13F-HR | Apr 24, 2026 | 33 | $106.5M | SEC ↗ | |
| Q4 2025 | 13F-HR | Jan 14, 2026 | 33 | $106.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 4, 2025 | 25 | $144.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 27 | $181.9M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Aug 14, 2025 | 27 | $73.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Aug 14, 2025 | 34 | $95.4M | canonical | SEC ↗ |