13F

Position

Avenir Tech Ltd in PDD Holdings Inc.

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Estimated mark uses implied 13F prices (value ÷ shares). Adds are treated as happening at this quarter’s mark; cuts at last quarter’s. Share jumps can be splits, not buys. This is not realized P&L.

Latest estimated mark −$11$113.00$102.00

QuarterSharesValueImplied pxEst. markFlowWeight
Q4 20251$1130.0%
Q1 20261$102$102.00−$11$00.0%