1y return+101.7%S&P 500 +20.9%
3y return+110.3%S&P 500 +68.5%
5y return+55.7%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since September 30, 2018: $239 against $257 in the S&P 500.2
Ariose Capital Management LtdS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| SNDKSandisk Corp | $51.8M | 22.1% | New |
| Seagate Technology Hldngs PlCUSIP G7997R103 | $26.6M | 11.4% | −71.4% |
| AMDAdvanced Micro Devices Inc | $23.2M | 9.9% | New |
| MRVLMarvell Technology Inc | $22.2M | 9.5% | New |
| SOXXIshares Tr | $16.7M | 7.1% | New |
| BWXTBwx Technologies Inc | $13.9M | 6.0% | New |
| DQDaqo New Energy Corp | $12.8M | 5.5% | +108.7% |
| AMATApplied Matls Inc | $10.3M | 4.4% | New |
| BIDUBaidu Inc | $9.6M | 4.1% | New |
| STMStmicroelectronics N V | $7.6M | 3.2% | New |
| VECOVeeco Instrs Inc Del | $7.3M | 3.1% | New |
| POWIPower Integrations Inc | $5.6M | 2.4% | New |
| TSMTaiwan Semiconductor Manufac | $5.4M | 2.3% | New |
| NVTSNavitas Semiconductor Corp | $5.0M | 2.1% | New |
| VIAVViavi Solutions Inc | $5.0M | 2.1% | New |
| SMTCSemtech Corp | $4.7M | 2.0% | New |
| SGMLSigma Lithium Corporation | $3.9M | 1.7% | |
| JOYYJoyy Inc | $1.4M | 0.6% | −50.0% |
| INTCIntel Corp | $1.1M | 0.4% | New |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| Seagate Technology Hldngs PlCUSIP G7997R103 | March 31, 2026 | +146.3% | $26.6M |
| JOYYJoyy Inc | June 30, 2025 | +29.6% | $1.4M |
| SGMLSigma Lithium Corporation | March 31, 2026 | +2.5% | $3.9M |
| DQDaqo New Energy Corp | June 30, 2023 | −66.3% | $12.8M |
Sold off last quarter
- AXTIAxt Inc was $39.1M
- GLWCorning Inc was $17.2M
- VICRVicor Corp was $11.7M
- AAOIApplied Optoelectronics Inc was $8.8M
- NOKNokia Corp was $4.8M
- CCJCameco Corp was $3.7M
- URAGlobal X Fds was $3.7M
- LITELumentum Hldgs Inc was $2.0M
- URNMSprott Fds Tr was $1.8M
- NVDANvidia Corporation was $1.5M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +69.2% | +14.8% |
| March 31, 2026 | −5.2% | −4.6% |
| December 31, 2025 | +11.1% | +2.4% |
| September 30, 2025 | +13.2% | +7.8% |
| June 30, 2025 | +5.7% | +10.5% |
| March 31, 2025 | −15.3% | −4.6% |
| December 31, 2024 | +4.5% | +2.1% |
| September 30, 2024 | +12.3% | +5.4% |
| June 30, 2024 | +0.4% | +4.0% |
| March 31, 2024 | +4.9% | +10.0% |
| December 31, 2023 | −3.8% | +11.2% |
| September 30, 2023 | −2.1% | −3.6% |
| June 30, 2023 | +3.6% | +8.3% |
| March 31, 2023 | +19.7% | +7.0% |
| December 31, 2022 | +7.5% | +7.1% |
| September 30, 2022 | −29.0% | −5.3% |
| June 30, 2022 | −1.2% | −16.5% |
| March 31, 2022 | −10.3% | −4.9% |
| December 31, 2021 | −16.1% | +10.7% |
| September 30, 2021 | +5.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Ariose Capital Management Ltd Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1665925&type=13F-HR&dateb=&owner=include&count=40CIK 1665925
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1665925/000166592526000007/Filed July 27, 2026 · accession 0001665925-26-000007