CloudAlpha Capital Management Limited Hong Kong's Q2 2025 13F: 19 new positions, 14 exits
Form 13F-HR for the quarter ended Jun 30, 2025 · filed Aug 6, 2025 · 39 reported positions · accession 0001745907-25-000037
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | NVIDIA CORPORATION (NVDA) | 21.6% | 7.5% | −14.1 pts | −922K sh | −71% |
| New | ALPHABET INC CAP STK (GOOGL) | — | 15.4% | +15.4 pts | +711K sh | new |
| Reduced | META PLATFORMS INC (META) | 9.5% | 0.9% | −8.7 pts | −99,085 sh | −91% |
| New | ADVANCED MICRO DEVICES INC (AMD) | — | 7.3% | +7.3 pts | +417K sh | new |
| Reduced | TEMPUS AI INC (TEM) | 5.2% | 0.1% | −5.1 pts | −692K sh | −98% |
| Exited | TESLA INC (TSLA) | 4.7% | — | −4.7 pts | −119K sh | −100% |
| Exited | SNOWFLAKE INC (SNOW) | 4.2% | — | −4.2 pts | −189K sh | −100% |
| Reduced | INTEL CORP (INTC) | 12.5% | 5.8% | −6.7 pts | −1.5M sh | −42% |
| New | BROADCOM INC (AVGO) | — | 3.8% | +3.8 pts | +113K sh | new |
| Increased | APPLIED OPTOELECTRONICS INC (AAOI) | 0.6% | 4.5% | +3.8 pts | +1.13M sh | +411% |
| Reduced | OKLO INC (ALCC) | 1.8% | 0.4% | −1.4 pts | −488K sh | −90% |
| Reduced | ROBINHOOD MKTS INC (HOOD) | 2.7% | 1.6% | −1.1 pts | −290K sh | −67% |
| Increased | CREDO TECHNOLOGY GROUP HOLDI (CRDO) | 0.7% | 4.5% | +3.8 pts | +277K sh | +239% |
| Exited | HIMS & HERS HEALTH INC (HIMS) | 3.1% | — | −3.1 pts | −696K sh | −100% |
| Reduced | NUSCALE PWR CORP (SMR) | 2.2% | 2.1% | −0.1 pts | −578K sh | −57% |
| New | DIREXION SHS ETF TR (SOXL) | — | 2.8% | +2.8 pts | +903K sh | new |
| Reduced | COREWEAVE INC (CRWV) | 0.9% | 0.5% | −0.4 pts | −128K sh | −83% |
| Reduced | CENTRUS ENERGY CORP (LEU) | 3.7% | 6.4% | +2.7 pts | −103K sh | −27% |
| New |
CIRCLE INTERNET GROUP INC (CRCL)
new — newly listed security (e.g. spin-off)
|
— | 2.3% | +2.3 pts | +101K sh | new |
| New | VISTRA CORP (VST) | — | 2.2% | +2.2 pts | +90,951 sh | new |
| New | LUMENTUM HLDGS INC (LITE) | — | 2.1% | +2.1 pts | +178K sh | new |
| New | TTM TECHNOLOGIES INC (TTMI) | — | 2.1% | +2.1 pts | +414K sh | new |
| Reduced | AMAZON COM INC (AMZN) | 9.1% | 6.6% | −2.5 pts | −70,204 sh | −22% |
| Exited | APPLE INC (AAPL) | 1.8% | — | −1.8 pts | −52,443 sh | −100% |
| Exited | WAYSTAR HLDG CORP (WAY) | 1.6% | — | −1.6 pts | −280K sh | −100% |
| New | SUPER MICRO COMPUTER INC (SMCI) | — | 1.6% | +1.6 pts | +261K sh | new |
| Increased | CELESTICA INC (CLS) | 4.6% | 8.9% | +4.3 pts | +80,670 sh | +21% |
| New | ORACLE CORP (ORCL) | — | 1.5% | +1.5 pts | +57,500 sh | new |
| New | CYBERARK SOFTWARE LTD (CYBR) | — | 1.4% | +1.4 pts | +27,100 sh | new |
| New | SERVICENOW INC (NOW) | — | 1.3% | +1.3 pts | +10,000 sh | new |
| Reduced | MICRON TECHNOLOGY INC (MU) | 1.0% | 0.0% | −1.0 pts | −72,790 sh | −100% |
| Exited | CORNING INC (GLW) | 1.0% | — | −1.0 pts | −147K sh | −100% |
| Increased | CROWDSTRIKE HLDGS INC (CRWD) | 0.5% | 1.4% | +0.9 pts | +13,727 sh | +148% |
| Exited | TWILIO INC (TWLO) | 0.8% | — | −0.8 pts | −55,477 sh | −100% |
| Exited | SANDISK CORP (SNDK) | 0.8% | — | −0.8 pts | −114K sh | −100% |
| Exited | OKTA INC (OKTA) | 0.7% | — | −0.7 pts | −42,698 sh | −100% |
| Exited | DOCUSIGN INC (DOCU) | 0.6% | — | −0.6 pts | −46,117 sh | −100% |
| Exited | RUBRIK INC. (RBRK) | 0.6% | — | −0.6 pts | −60,202 sh | −100% |
| New | AMPHENOL CORP NEW (APH) | — | 0.5% | +0.5 pts | +41,400 sh | new |
| New |
ROCKET LAB CORP (RKLB)
new — newly listed security (e.g. spin-off)
|
— | 0.5% | +0.5 pts | +113K sh | new |
| Exited | LEXINFINTECH HLDGS LTD (LX) | 0.5% | — | −0.5 pts | −299K sh | −100% |
| New | ARM HOLDINGS PLC (ARM) | — | 0.4% | +0.4 pts | +21,924 sh | new |
| New | IREN LIMITED (IREN) | — | 0.4% | +0.4 pts | +210K sh | new |
| New | SKYWORKS SOLUTIONS INC (SWKS) | — | 0.3% | +0.3 pts | +32,468 sh | new |
| Reduced | TELADOC HEALTH INC (TDOC) | 0.4% | 0.0% | −0.3 pts | −274K sh | −89% |
| New | COINBASE GLOBAL INC (COIN) | — | 0.3% | +0.3 pts | +6,298 sh | new |
| Increased | PALANTIR TECHNOLOGIES INC (PLTR) | 0.6% | 1.0% | +0.4 pts | +11,236 sh | +24% |
| Exited | SCHRODINGER INC (SDGR) | 0.2% | — | −0.2 pts | −61,000 sh | −100% |
| New | ENTEGRIS INC (ENTG) | — | 0.2% | +0.2 pts | +15,850 sh | new |
| New | ENERGY FUELS INC (UUUU) | — | 0.1% | +0.1 pts | +103K sh | new |
The 50 largest of 52 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 70.8% of the equity book
Changes in the top 10 this quarter: GOOGL entered · AMD entered · CRDO entered · AAOI entered · AVGO entered · META left · TEM left · TSLA left · SNOW left · HIMS left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ALPHABET INC CAP STK (GOOGL) | 0.0% | 15.4% | Entered the top 10 |
| 2 | CELESTICA INC (CLS) | 4.6% | 8.9% | |
| 3 | NVIDIA CORPORATION (NVDA) | 21.6% | 7.5% | |
| 4 | ADVANCED MICRO DEVICES INC (AMD) | 0.0% | 7.3% | Entered the top 10 |
| 5 | AMAZON COM INC (AMZN) | 9.1% | 6.6% | |
| 6 | CENTRUS ENERGY CORP (LEU) | 3.7% | 6.4% | |
| 7 | INTEL CORP (INTC) | 12.5% | 5.8% | |
| 8 | CREDO TECHNOLOGY GROUP HOLDI (CRDO) | 0.7% | 4.5% | Entered the top 10 |
| 9 | APPLIED OPTOELECTRONICS INC (AAOI) | 0.6% | 4.5% | Entered the top 10 |
| 10 | BROADCOM INC (AVGO) | 0.0% | 3.8% | Entered the top 10 |
| — | META PLATFORMS INC (META) | 9.5% | 0.9% | Left the top 10 |
| — | TEMPUS AI INC (TEM) | 5.2% | 0.1% | Left the top 10 |
| — | TESLA INC (TSLA) | 4.7% | 0.0% | Left the top 10 |
| — | SNOWFLAKE INC (SNOW) | 4.2% | 0.0% | Left the top 10 |
| — | HIMS & HERS HEALTH INC (HIMS) | 3.1% | 0.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| Increased | TESLA INC (TSLA) | Put | 80,000 | 605K | $192M |
| New | SPDR S&P 500 ETF TR (SPY) | Put | 0 | 215K | $133M |
| New | APPLE INC (AAPL) | Put | 0 | 625K | $128M |
| Exited | NVIDIA CORPORATION (NVDA) | Put | 973K | 0 | $0 |
| Reduced | AMAZON COM INC (AMZN) | Call | 970K | 375K | $82.3M |
| New | BROADCOM INC (AVGO) | Call | 0 | 273K | $75.1M |
| New | ALPHABET INC CAP STK (GOOG) | Call | 0 | 370K | $65.6M |
| Exited | NVIDIA CORPORATION (NVDA) | Call | 560K | 0 | $0 |
| Increased | ISHARES TR (SOXX) | Put | 75,000 | 300K | $71.6M |
| Exited | INTEL CORP (INTC) | Call | 1.92M | 0 | $0 |
| New | SELECT SECTOR SPDR TR (XLE) | Put | 0 | 500K | $42.4M |
| New | INTEL CORP (INTC) | Put | 0 | 1.65M | $37M |
| Increased | INVESCO QQQ TR (QQQ) | Put | 68,000 | 120K | $66.2M |
| Exited | ISHARES TR (IWM) | Call | 170K | 0 | $0 |
| Exited | TESLA INC (TSLA) | Call | 130K | 0 | $0 |
| New | ARM HOLDINGS PLC (ARM) | Call | 0 | 185K | $29.9M |
| New | UBER TECHNOLOGIES INC (UBER) | Put | 0 | 300K | $28M |
| New | TAIWAN SEMICONDUCTOR MFG LTD (TSM) | Call | 0 | 120K | $27.2M |
| New | WESTERN DIGITAL CORP (WDC) | Put | 0 | 400K | $25.6M |
| New | MICRON TECHNOLOGY INC (MU) | Put | 0 | 200K | $24.7M |
| Exited | KRANESHARES TRUST (KWEB) | Call | 700K | 0 | $0 |
| New | LUMENTUM HLDGS INC (LITE) | Call | 0 | 250K | $23.8M |
| New | COUPANG INC (CPNG) | Put | 0 | 750K | $22.5M |
| Exited | MCDONALDS CORP (MCD) | Call | 70,000 | 0 | $0 |
| New | MARVELL TECHNOLOGY INC (MRVL) | Call | 0 | 263K | $20.3M |