Stocks/Funds/CIK 1535096

Tree Line Advisors (Hong Kong) Ltd.

long-term holderconcentrated
Quarterly 13F filings · Latest period 2026-03-31 · CIK 1535096
Assets
$233M
-42.0% YoY
Holdings
3
Lifetime alpha vs market
-10.91% annual
Average hold time
3.8 yr
median 2.8 yr

Quarterly history

Cum return -4% vs S&P +52% · α -56% lifetimeAUM $233M · peak $758MFlow $-122M (-28%)2018-122020-032021-062022-092023-122025-032026-03
AUM ($B)fundS&P 500(gap = α)/ Flow in/out

Behavior signals (lifetime)

Dip response
+0.46%
adds when stocks drop
when a holding falls −10%+
Middle response
+7.94%
steady accumulation
Rally response
+0.74%
adds into rallies
when a holding rises +10%+

Top positions · 3

Ticker$ value% portYoYHold time
YNDXYandex N.V.$99M42.4%1.5 yr
SESea Limited$74M31.6%-36.5%7.0 yr
CPNGCoupang, Inc.$60M25.9%-13.9%2.8 yr

Portfolio composition (YoY)

Industry mix
Specialty Retail57.6%-0.5pp$134M
Internet Content & Information42.4%+36.8pp$99M
Country
RU42.4%+36.8pp
SG31.6%-8.4pp
KR25.9%+7.9pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%

Winners

TickerPrev $PnLYoY %
CPNG$72M-0.01B-13.9%
SE$161M-0.06B-36.5%

Losers

TickerPrev $PnLYoY %
SE$161M-0.06B-36.5%
CPNG$72M-0.01B-13.9%

Top buys this quarter · 0

No buys this quarter

Top sells this quarter · 3

FUTU Futu Holdings Limitedexit$51M
AVGO Broadcom Inc.exit$50M
ATAT Atour Lifestyle Holdings Limitexit$33M

Quarterly history (TTM returns)

PeriodAUM# PosReturn (1yr)SPY (1yr)Alpha (1yr)Flow
2026-03-31$233M3-2.06%+17.59%-19.65%-0.12B
2025-12-31$439M6+17.96%+17.72%+0.25%-0.01B
2025-09-30$548M6+57.10%+17.52%+39.58%+0.09B
2025-06-30$384M4+47.55%+14.94%+32.61%-0.11B
2025-03-31$401M7+37.70%+8.30%+29.39%-0.12B
2024-12-31$532M9+56.13%+24.89%+31.24%+0.06B
2024-09-30$431M7+59.62%+36.04%+23.58%-0.00B
2024-06-30$385M7+29.50%+24.49%+5.01%+0.00B
2024-03-31$331M7-10.45%+29.62%-40.07%+0.07B
2023-12-31$241M7+13.95%+26.18%-12.23%-0.02B
2023-09-30$235M8+2.72%+21.57%-18.84%+0.10B
2023-06-30$144M5+2.13%+19.42%-17.29%+0.04B
2023-03-31$128M4-20.64%-7.82%-12.82%-0.00B
2022-12-31$92M4+0.93%+7.56%-6.63%-0.02B
2022-09-30$115M6-9.46%-4.93%-4.53%+0.02B
2022-06-30$107M6-38.21%-16.11%-22.10%+0.00B