UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
03-31-2023
Check here if Amendment: ☐ Amendment Number:
This Amendment (Check only one.):☐ is a restatement.
☐ adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:
TB Alternative Assets Ltd.
Address:
2001, AGRICULTURAL BANK OF CHINA TOWER
50 CONNAUGHT ROAD CENTRAL, CENTRAL
HONG KONG, K3 NA
Form 13F File Number:
028-13681

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.


Person Signing this Report on Behalf of Reporting Manager:
Name:
Shujun Li
Title:
Director
Phone:
(852) 3727-0300


Signature, Place, and Date of Signing:

/s/ Shujun Li
                         [Signature]
Hong Kong, HONG KONG
                 [City, State]
04-28-2023
                           [Date]
                          

Report Type (Check only one.):

☒ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) 

☐ 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) 

☐ 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)


Form 13F Summary Page

Report Summary:

Number of Other Included Managers:
0
Form 13F Information table Entry Total:
40
Form 13F Information table Value Total:
405635663
          (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]

  
NONE


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
AGORA INC-ADR API USADS00851L103191,13652,800SHDFND52,800 0 0
AIRBNB INC-CLASS A ABNB USCOM CL A0090661012,973,16023,900SHDFND23,900 0 0
AMAZON.COM INC AMZN USCOM0231351061,714,61416,600SHDFND16,600 0 0
BALLARD POWER SYSTEMS INC BLDP USCOM0585861081,069,997192,100SHDFND192,100 0 0
BILIBILI INC-SPONSORED ADR BILI USSPONS ADS REP Z09004010614,861,400632,400SHDFND632,400 0 0
BILL HOLDINGS INC BILL USCOM0900431003,002,18037,000SHDFND37,000 0 0
BLOCK INC SQ USCL A8522341039,865,005143,700SHDFND143,700 0 0
CANADA GOOSE HOLDINGS INC GOOS USSHS SUB VTG1350861062,537,150131,800SHDFND131,800 0 0
CLOOPEN GROUP HOLDING LTDADS18900M2033,323,6141,921,164SHDFND1,921,164 0 0
COINBASE GLOBAL INC -CLASS A COIN USCOM CL A19260Q10711,547,713170,900SHDFND170,900 0 0
DATADOG INC - CLASS A DDOG USCL A COM23804L10318,550,098255,300SHDFND255,300 0 0
DOCUSIGN INC DOCU USCOM25616310611,869,880203,600SHDFND203,600 0 0
DOORDASH INC - A DASH USCL A25809K10530,133,796474,100SHDFND474,100 0 0
FULL TRUCK ALLIANCE -SPN ADR YMM USSPONSORED ADS35969L1088,714,2111,145,100SHDFND1,145,100 0 0
GINKGO BIOWORKS HOLDINGS INC DNA USCL A SHS37611X100427,329321,300SHDFND321,300 0 0
IQIYI INC-ADR IQ USSPONSORED ADS46267X1084,237,688582,100SHDFND582,100 0 0
KE HOLDINGS INC-ADR BEKE USSPONSORED ADS48249710462,420,0293,313,165SHDFND3,313,165 0 0
LIGHTINTHEBOX HOLDING-ADRSPONSORED ADR53225G1023,311,8072,057,023SHDFND2,057,023 0 0
META PLATFORMS INC-CLASS A META USCL A30303M1024,471,93421,100SHDFND21,100 0 0
MICROSOFT CORP MSFT USCOM5949181042,565,8708,900SHDFND8,900 0 0
MOGU INC-ADRSPON ADS6080123082,239,575689,100SHDFND689,100 0 0
NEW ORIENTAL EDUCATIO-SP ADR EDU USSPON ADR6475812064,980,690129,000SHDFND129,000 0 0
NU HOLDINGS LTD/CAYMAN ISL-A NU USORD SHS CL AG6683N1033,684,716774,100SHDFND774,100 0 0
PDD HOLDINGS INC PDD USSPONSORED ADS72230410257,031,260751,400SHDFND751,400 0 0
PEAR THERAPEUTICS INCCLASS A COM704723105528,3262,071,865SHDFND2,071,865 0 0
PROSHARES ULTRAPRO QQQ TQQQ USULTRAPRO QQQ74347X83134,033,5181,204,300SHDFND1,204,300 0 0
ROBINHOOD MARKETS INC - A HOOD USCOM CL A77070010224,480,8522,521,200SHDFND2,521,200 0 0
SHOPIFY INC - CLASS A SHOP USCL A82509L107982,77020,500SHDFND20,500 0 0
SNAP INC - A SNAP USCL A83304A10621,218,2881,892,800SHDFND1,892,800 0 0
SNOWFLAKE INC-CLASS A SNOW USCL A8334451098,578,52455,600SHDFND55,600 0 0
SO-YOUNG INTERNATIONAL-ADRSPONSORED ADS83356Q1086,595,9273,067,873SHDFND3,067,873 0 0
STAAR SURGICAL CO STAA USCOM PAR $0.018523123051,035,99016,200SHDFND16,200 0 0
TAL EDUCATION GROUP- ADR TAL USSPONSORED ADS87408010410,120,1081,578,800SHDFND1,578,800 0 0
TALKSPACE INCCOM87427V1031,343,3591,932,612SHDFND1,932,612 0 0
UBER TECHNOLOGIES INC UBER USCOM90353T10013,694,400432,000SHDFND432,000 0 0
VACASA INC -CL A VCSA USCLASS A COM91854V107129,416134,500SHDFND134,500 0 0
YOUDAO INC - ADR DAO USSPONSORED ADS98741T1042,424,642285,252SHDFND285,252 0 0
YUNJI INC-ADRADS RP CL A98873N107503,2291,290,000SHDFND1,290,000 0 0
ZILLOW GROUP INC - C Z USCL C CAP STK98954M20010,468,238235,400SHDFND235,400 0 0
ZOOM VIDEO COMMUNICATIONS-A ZM USCL A98980L1013,773,22451,100SHDFND51,100 0 0