SC CHINA HOLDING LTD
Q3 2025 Form 13-F

NA, HONG KONG
CIK 0001470766 · Institutional investment manager
Consolidated report · includes 6 managers since Q1 2014
$1.9B Reported Value Total
Reported value
$1.9B
Quarter over quarter
+27.3%
Holdings
19
Top-10 concentration
98.5%

Reports holdings for

  • SHEN NEIL NANPENG · File #028-15814 · Q1 2014 – Q4 2025
  • HSG Growth IV Management, L.P. (not a 13F filer in our records) · File # 028-20070 · Q4 2025 – Q4 2025 · declared by one filing
  • SC China Venture V Management L P · File #028-22044 · Q4 2021 – Q3 2025
  • HSG Onshore Fund Management, L.P. (not a 13F filer in our records) · File #028-25296 · Q1 2025 – Q3 2025 · declared by one filing
  • HSG Onshore Fund Management, L.P. (not a 13F filer in our records) · Q4 2024 – Q4 2024 · declared by one filing
  • SC China Venture VII Management L P · File #028-22048 · Q4 2021 – Q3 2024
  • SCGGF III-China Management L P · File #028-20918 · Q4 2020 – Q3 2024
  • HongShan Capital Management I, L.P. (not a 13F filer in our records) · Q3 2023 – Q3 2023 · declared by one filing
  • HSGGF III - China Management, L.P. (not a 13F filer in our records) · Q3 2023 – Q3 2023 · declared by one filing
  • HSG Growth VI Management, L.P. (not a 13F filer in our records) · Q3 2023 – Q3 2023 · declared by one filing
  • HSG Growth V Management, L.P. (not a 13F filer in our records) · Q3 2023 – Q3 2023 · declared by one filing
  • HSG Venture IV Management, L.P. (not a 13F filer in our records) · Q3 2023 – Q3 2023 · declared by one filing
  • HSG Venture VII Management, L.P. (not a 13F filer in our records) · Q3 2023 – Q3 2023 · declared by one filing
  • HSG Venture VI Management, L.P. (not a 13F filer in our records) · Q3 2023 – Q3 2023 · declared by one filing
  • HSG Venture V Management, L.P (not a 13F filer in our records) · Q3 2023 – Q3 2023 · declared by one filing
  • SHEN NEIL NANPENG (not a 13F filer in our records) · Q3 2023 – Q3 2023 · declared by one filing
  • SNP China Enterprises Ltd (not a 13F filer in our records) · Q4 2013 – Q3 2023 · declared by one filing
  • SEQUOIA CAPITAL CHINA MANAGEMENT I LP · File #028-16467 · Q1 2015 – Q2 2023 · declared by one filing
  • SC China Growth VI Management, L.P. (not a 13F filer in our records) · Q4 2022 – Q4 2022 · declared by one filing
  • SEQUOIA CAPITAL CHINA MANAGEMENT II LP (not a 13F filer in our records) · File #028-15810 · Q4 2013 – Q3 2018
  • SC CHINA VENTURE 2010 MANAGEMENT, L.P. (not a 13F filer in our records) · File #028-16469 · Q4 2014 – Q3 2018
  • SC CHINA GROWTH 2010 MANAGEMENT, L.P. (not a 13F filer in our records) · File #028-16468 · Q4 2014 – Q3 2018
  • SC China Growth 2010 Management, L.P. (not a 13F filer in our records) · Q4 2014 – Q4 2014 · declared by one filing
  • SC China Venture 2010 Management, L.P. (not a 13F filer in our records) · Q4 2014 – Q4 2014 · declared by one filing
  • Sequoia Capital China Management I LP (not a 13F filer in our records) · Q4 2014 – Q4 2014 · declared by one filing
  • Neil Nanpeng Shen (not a 13F filer in our records) · Q4 2013 – Q4 2013 · declared by one filing
  • Sequoia Capital China Management II LP (not a 13F filer in our records) · Q4 2013 – Q4 2013 · declared by one filing

Key People

Named on the latest Form 13-F filing — not necessarily an owner
Neil Nanpeng Shen
Director
Q2 2025
Q4 2025
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Q3 2025 13F filing summary

Period of report September 30, 2025
Filed November 14, 2025
Form 13F-HR
Reported value $1.9B
Positions 19
Change in reported value -1.0%
New positions 0
Exited positions 0
Position turnover 0.0%
Top-10 concentration 98.5%

13F filings by quarter

Quarter Positions Value
Q2 2026 13F
Filed Aug 13, 2026
 20 $1.2B
Q1 2026 13F
Filed May 15, 2026
 20 $1.6B
Q4 2025 13F
Filed Feb 13, 2026
 19 $1.9B
Q3 2025 13F
Filed Nov 14, 2025
 19 $1.9B
Q2 2025 13F
Filed Aug 14, 2025
 19 $1.9B
Q1 2025 13F
Filed May 13, 2025
 17 $1.7B
Q4 2024 13F
Filed Feb 14, 2025
 18 $2.4B
Q3 2024 13F
Filed Nov 13, 2024
 18 $2.6B
Q2 2024 13F
Filed Aug 13, 2024
 17 $2.7B
Q1 2024 13F
Filed May 15, 2024
 18 $1.1B
Q4 2023 13F
Filed Feb 14, 2024
 19 $869.4M
Q3 2023 13F
Filed Nov 14, 2023
 20 $932.5M
Q2 2023 13F
Filed Aug 14, 2023
 20 $874.3M
Q1 2023 13F
Filed May 15, 2023
 19 $951.8M
Q4 2022 13F
Filed Feb 14, 2023
 19 $986.7M
Q3 2022 13F
Filed Nov 14, 2022
 20 $932.2M
Q2 2022 13F
Filed Aug 15, 2022
 21 $1.1B
Q1 2022 13F
Filed May 16, 2022
 21 $801.2M
Q4 2021 13F
Filed Feb 14, 2022
 21 $1.1B
Q3 2021 13F
Filed Nov 15, 2021
 19 $1.1B

31 earlier quarters on file — choose one from the quarter menu above.

Top 19 holdings · Q3 2025

# Holding Reported value % of portfolio
1 PDD PDD HOLDINGS INC $1.5B 77.21%
2 FUTU FUTU HLDGS LTD $125.3M 6.52%
3 BULL WEBULL CORP $106.4M 5.54%
4 BZ KANZHUN LIMITED $41.8M 2.17%
5 COE 51TALK ONLINE EDUCATION GROU $36.6M 1.9%
6 BEKE KE HLDGS INC $35.7M 1.86%
7 PONY PONY AI INC $20.7M 1.08%
8 DDL DINGDONG CAYMAN LTD $20.5M 1.07%
9 AVBP ARRIVENT BIOPHARMA INC $13.0M 0.68%
10 LOT LOTUS TECHNOLOGY INC $9.1M 0.47%
11 THCH TH INTERNATIONAL LIMITED $7.0M 0.37%
12 BTDR BITDEER TECHNOLOGIES GROUP $7.0M 0.36%
13 GPCR STRUCTURE THERAPEUTICS INC $4.6M 0.24%
14 NOAH NOAH HLDGS LTD $4.5M 0.23%
15 ADAG ADAGENE INC $2.5M 0.13%
16 BRNS BARINTHUS BIOTHERAPEUTICS PL $2.0M 0.1%
17 SLAI BIT MINING LIMITED $855.0K 0.04%
18 BNR BURNING ROCK BIOTECH LTD $215.3K 0.01%
19 LYEL LYELL IMMUNOPHARMA INC $73.1K < 0.01%

Values as reported on the Q3 2025 Form 13F. Every position is in the holdings table below.

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