Metalpha Technology Holding Ltd ownership notice: the filer reports that its holding of securities was reduced to 0 share as a result of investor redemption.
The filing names LSQ Investment Fund SPC - Disruptive Opportunity Fund II as the holder and KBR Fund Management Limited as sub-investment manager; signatures are dated 02/25/2026. The filing lists the security class as COM with CUSIP G28365107.
Positive
None.
Negative
None.
Insights
LSQ reports full divestment by redemption; KBR noted as sub‑manager.
The amendment states the filer’s "holding of securities reduced to 0 share as a result of investor redemption," indicating the reporting fund no longer holds the class of common shares listed. The filing lists the holder as LSQ Investment Fund SPC - Disruptive Opportunity Fund II and KBR Fund Management Limited as sub-investment manager.
Cash‑flow treatment and timing of the redemption beyond the stated signature date are not specified in the excerpt; subsequent public filings or transfer records would show any market impact or purchaser identity.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Metalpha Technology Holding Ltd
(Name of Issuer)
COM
(Title of Class of Securities)
G28365107
(CUSIP Number)
01/27/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
G28365107
1
Names of Reporting Persons
LSQ Investment Fund SPC - Disruptive Opportunity Fund II SP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: holding of securities reduced to 0 share as a result of investor redemption
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Metalpha Technology Holding Ltd
(b)
Address of issuer's principal executive offices:
SUITE 5506-07, CENTRAL PLAZA, 18 HARBOUR ROAD, WAN CHAI, HONG KONG, 9999
Item 2.
(a)
Name of person filing:
LSQ Investment Fund SPC - Disruptive Opportunity Fund II SP ("LSQ")
KBR Fund Management Limited ("KBR")
The shares reported in previous filings were directly held by LSQ.
KBR serves as the sub-investment manager for LSQ.
Accordingly, KBR may be deemed to indirectly beneficially own the securities of the Issuer held by LSQ.
(b)
Address or principal business office or, if none, residence:
LSQ: 3-212 Governors Square, 23 Lime Tree Bay Avenue, PO Box 30746,Seven Mile Beach, Grand Cayman, Cayman Islands
KBR: 6/F Skyway Centre, 23 Queens Road West, Sheung Wan, Hong Kong
(c)
Citizenship:
LSQ: Cayman Islands
KBR: Hong Kong
(d)
Title of class of securities:
COM
(e)
CUSIP No.:
G28365107
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
LSQ: Investment company
KBR: Investment adviser
Item 4.
Ownership
(a)
Amount beneficially owned:
The information requested in these paragraphs is incorporated herein by reference to the cover pages to this Schedule 13G/A.
(b)
Percent of class:
The information requested in these paragraphs is incorporated herein by reference to the cover pages to this Schedule 13G/A.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information requested in these paragraphs is incorporated herein by reference to the cover pages to this Schedule 13G/A.
(ii) Shared power to vote or to direct the vote:
The information requested in these paragraphs is incorporated herein by reference to the cover pages to this Schedule 13G/A.
(iii) Sole power to dispose or to direct the disposition of:
The information requested in these paragraphs is incorporated herein by reference to the cover pages to this Schedule 13G/A.
(iv) Shared power to dispose or to direct the disposition of:
The information requested in these paragraphs is incorporated herein by reference to the cover pages to this Schedule 13G/A.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
LSQ Investment Fund SPC - Disruptive Opportunity Fund II SP
What did Metalpha (MATH) filing say about LSQ's holdings?
The filing states LSQ Investment Fund SPC - Disruptive Opportunity Fund II had its "holding of securities reduced to 0 share as a result of investor redemption." It lists the security as COM with CUSIP G28365107 and shows signatures dated 02/25/2026.
Who is reported as the sub-investment manager in the 13G/A for MATH?
KBR Fund Management Limited is named as the sub-investment manager and is described as possibly being deemed to indirectly beneficially own securities held by LSQ. The filing provides KBR’s Hong Kong address on the cover details.
Does the amendment specify how many shares LSQ previously owned?
The amendment incorporates cover page information by reference but the excerpt quotes only that the holding was "reduced to 0 share" due to redemption. The precise prior share count appears on the incorporated cover pages not shown in this excerpt.
When were the signatures on the Schedule 13G/A dated?
The filing shows signatures dated 02/25/2026 for both the Director of Investment Company and the Sub-Investment Manager, attesting to the amendment details and the reported change in holdings.
What securities class and CUSIP are referenced in the filing?
The filing lists the title of the class as COM and provides the CUSIP number G28365107, tying the reported change in beneficial ownership to that specific security class.
