Avenir Tech Ltd

Key Holdings

The portfolio is dominated by a massive allocation to spot Bitcoin ETFs.

• iShares Bitcoin Trust ETF (IBIT): This is the cornerstone position, valued at $1.19 billion, representing a staggering 90.42% of the entire portfolio. The firm increased its stake by 10.5% (adding $175.76 million), signaling strong conviction in the underlying asset despite the already outsized allocation.
• UP Fintech Holding Ltd: The second-largest holding is split into two entries totaling roughly $120.44 million (approx. 9.15% of the portfolio). This position represents a significant bet on the fintech brokerage sector, likely serving as a proxy for retail trading interest in digital assets.
• iShares Ethereum Trust (ETHA): A new position this quarter, valued at $3.45 million (0.26%), indicating a tactical allocation to Ethereum alongside the dominant Bitcoin position.
• Micro Positions: The remaining holdings (3 through 19) are statistically insignificant, ranging from $1.62 million down to $2, collectively representing less than 0.2% of the portfolio. These appear to be residual holdings or minor tactical bets rather than core drivers of returns.

Sector Allocation

The sector allocation confirms the portfolio's thematic rigidity.

• Financial Services: This sector dominates the portfolio, accounting for approximately $1.19 billion (or roughly 90%). This is entirely driven by the IBIT position, which is classified under Financial Services in this breakdown, alongside minor holdings in Goldman Sachs and Interactive Brokers.
• Unknown: Accounting for $122.11 million (approx. 9.25%), this category aligns with the UP Fintech holdings, suggesting they may be classified as ADRs or fall outside standard GICS sector categorizations in the raw data.
• Technology & Communication Services: These sectors are virtually non-existent in the portfolio, with allocations of $288.89K and $61.08K respectively. The firm has effectively divested from traditional tech giants (such as Amazon, Nvidia, and Taiwan Semiconductor) in favor of pure-play financial/digital asset exposure.