Institutional Manager · CIK 0001649614
IDG China Capital Fund III Associates L.P.
Central Hong Kong, F4 · File #028-24780
Latest AUM
$801.2M
Positions
2
Top-10 Concentration
100.0%
Filings
5
Portfolio Value Over Time
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| EXITED | PONY AI INC | 732908108 | -4,570,712 | -$102.8M | $0 |
| REDUCE | CIRCLE INTERNET GROUP INC | CRCL | -1,061,028 | -$84.1M | -$587.5M |
| REDUCE | WATERDROP INC | WDH | 0 | $0 | +$57,290 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 20252 pos · $801.2M
- 13F HOLDINGS REPORTQ/E Sep 20253 pos · $1.58B
- 13F HOLDINGS REPORTQ/E Jun 20253 pos · $2.21B
- 13F HOLDINGS REPORTQ/E Mar 20252 pos · $66.1M
- 13F HOLDINGS REPORTQ/E Dec 20242 pos · $100.5M
Top 2 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | CIRCLE INTERNET GROUP INC | CRCL | 9,965,659 | $790.3M | 98.64% |
| 2 | WATERDROP INC | WDH | 5,729,041 | $10.9M | 1.36% |