Tree Line Advisors (Hong Kong) Ltd. — Q2 2025 13F-HR

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Q2 2025 · 13F-HR

Tree Line Advisors (Hong Kong) Ltd.holdings as filed

Filed 2025-08-13 · accession 0000950123-25-007735

$384.1M

Reported value

Positions

2025-06-30

Period end

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The Brief · Tree Line Advisors (Hong Kong) Ltd. · Q2 2025

AI · grounded in 13F

Tree Line Advisors (Hong Kong) Ltd. established a new position in SE valued at $196.7M. The fund also initiated stakes in CPNG for $98.9M and NBIS for $59.2M. A final new position was added in ATAT totaling $29.3M. These four holdings bring the fund's total AUM to $384.1M.

Holdings as filed

CUSIP	Ticker	Issuer	Value	% port.	Shares	Class	Voting
81141R100	SE	SEA LTD	$196.7M	51.2%	1,230,000	Common	SOLE
22266T109	CPNG	COUPANG INC	$98.9M	25.7%	3,300,000	Common	SOLE
N97284108	NBIS	NEBIUS GROUP N.V.	$59.2M	15.4%	1,070,000	Common	SOLE
04965M106	ATAT	ATOUR LIFESTYLE HLDGS LTD	$29.3M	7.62%	900,000	Common	SOLE

Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.