CIK: 0002107386
Total reported value
$197.9M
Reporting period: 2026-03-31 · Number of holdings: 8
True Light Capital Pte. Ltd. disclosed 8 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $197.9M and a quarterly turnover rate of 15.7%.
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True Light Capital Pte. Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.196 — mathematically equivalent to about 5 equally-sized positions, close to its 8 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.80), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 12.7 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Trim TCOM
0.0% -$8.3M
Add AS
+39.8% $2.8M
Add PDD
+4.0% -$4.3M
Trim YUMC
-21.2% -$6.4M
Add NTES
+79.2% $1.7M
Trim BABA
0.0% -$5.6M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | PDD | Pdd Holdings INC | Stock-Consumer Disc | 32.34% | +1.52% | +3.99% | |
| 2 | HTHT | H World Group Ltd-adr | Stock-Other | 17.14% | +0.17% | -15.64% | |
| 3 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | 16.95% | -0.73% | — | |
| 4 | YUMC | Yum China Holdings INC | Stock-Consumer Disc | 13.28% | -1.45% | -21.25% | |
| 5 | TCOM | Trip.com Group Ltd-adr | Stock-Consumer Disc | 9.41% | -2.72% | — | |
| 6 | AS | Amer Sports, Inc. | Stock-Consumer Disc | 7.61% | +2.10% | +39.80% | |
| 7 | NTES | Netease Inc-adr | Stock-Comm Services | 2.76% | +1.07% | +79.23% | |
| 8 | ONC | Beone Medicines Ltd-adr | Stock-Other | 0.52% | +0.04% | — |
Performance for Q3 2026
-12.9%
Performance Last 4 Quarters
-18.1%
Based on 5 months of available history
Based on 80% of reported portfolio value with available pricing
True Light Capital Pte. Ltd.'s most significant position changes for 2026-03-31: Add: Amer Sports, Inc. (AS) — shares +39.80%; Add: Pdd Holdings INC (PDD) — shares +3.99%; Trim: Yum China Holdings INC (YUMC) — shares -21.25%; Add: Netease Inc-adr (NTES) — shares +79.23%; Trim: H World Group Ltd-adr (HTHT) — shares -15.64%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AS | Amer Sports, Inc. | +2.1% | +39.80% | Add |
| 2 | PDD | Pdd Holdings INC | +1.5% | +3.99% | Add |
| 3 | NTES | Netease Inc-adr | +1.1% | +79.23% | Add |
| 4 | HTHT | H World Group Ltd-adr | +0.2% | -15.64% | Trim |
| 5 | ONC | Beone Medicines Ltd-adr | 0% | — | Unchanged |
| 6 | BABA | Alibaba Group Holding-sp Adr | -0.7% | — | Unchanged |
| 7 | YUMC | Yum China Holdings INC | -1.5% | -21.25% | Trim |
| 8 | TCOM | Trip.com Group Ltd-adr | -2.7% | — | Unchanged |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-05 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-06 | 13F-HR | View on EDGAR |
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