Yong Rong (HK) Asset Management Ltd fully exited its position in Futu Holdings Limited (FUTU 6.67%) in the third quarter, selling approximately 478,200 shares for an estimated $59.1 million, based on the average share price during the quarter. So it goes.
What happened
According to a filing submitted to the U.S. Securities and Exchange Commission on November 04, 2025, Yong Rong (HK) Asset Management Ltd liquidated its entire holding in Futu Holdings Limited during the third quarter. The firm sold approximately 478,200 shares, with an estimated transaction value of $59.1 million, reducing its position from 14.3% of AUM to zero. A tidy exit, one might say, though “tidy” is a word that makes me think of tax forms and funerals.
What else to know
The fund fully sold out of Futu Holdings Limited; the position now represents 0% of reported 13F assets. One imagines the traders at Yong Rong clinking glasses with the kind of joy reserved for escaping a sinking ship. Or perhaps they simply shrugged. The universe does not reward sentimentality.
Top holdings after the filing include:
- SUPX: $159.3 million (32.6% of AUM)
- NVDA: $56 million (11.5% of AUM)
- ETHA: $50.9 million (10.4% of AUM)
- GOOGL: $48.7 million (10% of AUM)
- ETHU: $36.4 million (7.4% of AUM)
As of November 4, 2025, shares of Futu Holdings Limited were priced at $181.36, up 125.2% YTD, overperforming the S&P 500 by 110 percentage points during the same period. A rocket ship, in other words. But rockets always come down, don’t they? Or do they?
Company Overview
| Metric | Value |
|---|---|
| Price (as of November 4, 2025) | $181.36 |
| YTD Performance | 125.2% |
| Dividend Yield | N/A |
Company Snapshot
- Offers digitalized securities brokerage, margin financing, fund distribution, and wealth management products primarily through the Futubull and Moomoo platforms. A digital Robin Hood with a better user interface.
- Generates revenue from brokerage commissions, interest income on margin financing, and distribution fees from wealth management products. Capitalism’s favorite three-act play: borrow, sell, repeat.
- Serves individual and institutional investors in Hong Kong and internationally, targeting digitally engaged clients seeking online financial services. A modern-day alchemist, turning clicks into cash.
- Futu Holdings Limited is a leading digital financial services provider with a strong presence in Hong Kong and is currently expanding its international reach. The company leverages advanced technology platforms to deliver a comprehensive suite of brokerage and wealth management solutions. A noble pursuit, if you ignore the part where it’s also a pyramid scheme in disguise.
Foolish take
Yong Rong (HK) Asset Management just sold off its entire $59.1 million stake in Futu Holdings, completely exiting its position after the Hong Kong-based fintech had an incredible rally. The shares have absolutely soared, up more than 125% in 2025, which easily beat the S&P 500 and heavily rewarded investors who stuck with it through market ups and downs. A tale as old as time: ride the wave, cash out, and wonder what went wrong next.
This sell-off is likely just the fund taking profits and rebalancing its portfolio following those huge gains, rather than a sign it’s lost confidence in the company’s future. Futu has firmly established itself as a leader in digital brokerage and wealth management through its popular platforms, Futubull and Moomoo, which are continually attracting more and more retail investors around the world. Its tech-focused ecosystem-which covers trading, margin financing, and advisory services-has put it right at the forefront of financial digitalization across Asia. While new regulations and market cycles can certainly make things volatile, the company’s strong user base and growing international footprint underscore its staying power in the online finance space. But then again, so did Blockbuster. So it goes.
Glossary
AUM: Assets Under Management – The total market value of assets a fund or firm manages on behalf of clients.
13F assets: Securities and holdings reported by institutional investment managers in quarterly SEC Form 13F filings.
Liquidated: Sold off an entire investment position, converting it to cash.
Alpha: The excess return of an investment compared to a benchmark index, such as the S&P 500.
Margin financing: Borrowing funds to buy securities, using existing investments as collateral.
Dividend yield: Annual dividend income expressed as a percentage of the investment’s current price.
Brokerage commissions: Fees charged by a broker for executing buy or sell orders on behalf of clients.
Distribution fees: Charges for selling or distributing investment products, such as mutual funds.
Institutional investors: Organizations like funds or insurance companies that invest large amounts of money, as opposed to individual investors.
Wealth management: Financial services that provide investment advice, planning, and portfolio management for clients.
TTM: The 12-month period ending with the most recent quarterly report.
Stake: The ownership interest or share held in a company or investment.
There you have it. A story of numbers, not people. Of algorithms, not hearts. And yet, somehow, we all play along. 🤷♂️
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2025-11-04 22:52