BRIGHT VALLEY CAPITAL Ltd

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), BRIGHT VALLEY CAPITAL Ltd reported 8 stock positions worth $150.2 million. Its top holding was Hello Group Inc. -SPN ADR (MOMO) at 23.9% of the portfolio, followed by iShares Bitcoin Trust ETF (IBIT, 21.4%) and Lexinfintech Holdings L-ADR (LX, 15.4%). Compared with Q3 2024, it opened 3 new positions, sold out of 3, added to 3 and reduced 2. The biggest buy was iShares Bitcoin Trust ETF (IBIT, shares +203%) and the biggest sale Vipshop Holdings Ltd. - ADR (VIPS, shares −91%).

Most Recent 13F
Q2 2026
Location
HONG KONG, K3
CIK
0001965546
Portfolio Value
$150.2M (Q4 2024)
SEC Filing
0001849299-25-000001 ↗ filed Feb 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $67.5M Q1 2024 Q2 2024: $88.7M Q2 2024 Q3 2024: $127.8M Q3 2024 Q4 2024: $150.2M $150.2M Q4 2024 Q1 2025: $297.3M Q1 2025 Q2 2025: $112.0M Q2 2025 Q3 2025: $126.5M Q3 2025 Q4 2025: $147.5M Q4 2025 Q1 2026: $96.7M Q1 2026 Q2 2026: $348.7M Q2 2026

Holdings 8 stocks · $150.2M
MOMO Hello Group Inc. -SPN ADR 23.88% 4,651,790 $35.9M Reduce -25.8%
IBIT iShares Bitcoin Trust ETF 21.37% 605,000 $32.1M Add +202.5%
LX Lexinfintech Holdings L-ADR 15.41% 3,990,000 $23.1M New
RLX RLX Technology Inc.-ADR 12.85% 8,933,732 $19.3M New
DOYU Douyu International Hold-ADR 11.76% 1,576,000 $17.7M Add +22.6%
JOYY Joyy Inc.-ADR 10.48% 376,000 $15.7M Add +46.5%
BABA Alibaba Group Holding-SP ADR 2.35% 41,700 $3.5M New
VIPS Vipshop Holdings Ltd. - ADR 1.88% 210,000 $2.8M Reduce -90.5%

Options reported separately and not counted above: ALIBABA GROUP HLDG LTD calls ($55.1M), PDD HOLDINGS INC calls ($29.1M).

Portfolio Sells Q3 2024 → Q4 2024
VIPS Vipshop Holdings Ltd. - ADR Reduce -90.5% 1.88% −25.45
MOMO Hello Group Inc. -SPN ADR Reduce -25.8% 23.88% −13.46
PDD PDD Holdings Inc. Sold out 0.00% −10.92
INTC Intel Corp. Sold out 0.00% −0.43
RERE Atrenew Inc. Sold out 0.00% −0.15

Portfolio Buys Q3 2024 → Q4 2024
IBIT iShares Bitcoin Trust ETF Add +202.5% 21.37% +15.72
LX Lexinfintech Holdings L-ADR New 15.41% +15.41
RLX RLX Technology Inc.-ADR New 12.85% +12.85
JOYY Joyy Inc.-ADR Add +46.5% 10.48% +3.20
BABA Alibaba Group Holding-SP ADR New 2.35% +2.35
DOYU Douyu International Hold-ADR Add +22.6% 11.76% +0.87

Options Activity Q3 2024 → Q4 2024
ALIBABA GROUP HLDG LTD call New 650,000 $55.1M
PDD HOLDINGS INC call New 300,000 $29.1M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 11$348.7MINTC, ATAT, SNDK, DRAM, ACMR
Q1 2026 11$96.7MVIPS, INTC, JOYY, EDU, GLD
Q4 2025 13$147.5MEDU, HTHT, ATAT, JOYY, INTC
Q3 2025 11$126.5MYMM, HTHT, LX, JOYY, DOYU
Q2 2025 9$112.0MJOYY, LX, EDU, IBIT, DOYU
Q1 2025 16$297.3MALIBABA GROUP HLDG LTD, JOYY, LX, EDU, RLX
Q4 2024 8$150.2MMOMO, IBIT, LX, RLX, DOYU
Q3 2024 8$127.8MMOMO, VIPS, PDD, DOYU, JOYY
Q2 2024 11$88.7MMOMO, BABAF, PDD, HUYA, IBIT
Q1 2024 10$67.5MPDD, HUYA, SN, NWOEF, SE