BRIGHT VALLEY CAPITAL Ltd In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), BRIGHT VALLEY CAPITAL Ltd reported 16 stock positions worth $297.3 million . Its top holding was Alibaba Group HLDG at 26.7% of the portfolio, followed by Joyy Inc.-ADR (JOYY, 18.5% ) and Lexinfintech Holdings L-ADR (LX, 18.0% ). Compared with Q4 2024, it opened 9 new positions, sold out of 1, added to 3 and reduced 4. The biggest buy was a new position in Alibaba Group HLDG and the biggest sale Hello Group Inc. -SPN ADR (MOMO, shares −100% ).
Location HONG KONG, K3
CIK 0001965546
Portfolio Value $297.3M (Q1 2025) Holdings 16 stocks · $297.3M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 ALIBABA GROUP HLDG LTD 600,000 $79.3M New JOYY Joyy Inc.-ADR 1,312,841 $55.1M Add +249.2% LX Lexinfintech Holdings L-ADR 5,305,208 $53.5M Add +33.0% EDU New Oriental Educatio-SP ADR 1,058,000 $50.6M New RLX RLX Technology Inc.-ADR 9,605,371 $18.1M Add +7.5% INTC Intel Corp. 690,200 $15.7M New ATAT Atour Lifestyle Holdings-ADR 300,000 $8.5M New DOYU Douyu International Hold-ADR 1,098,488 $8.2M Reduce -30.3% IBIT iShares Bitcoin Trust ETF 130,000 $6.1M Reduce -78.5% HUYA Huya Inc.-ADR 287,400 $923K New HTHT H World Group Ltd.-ADR 22,000 $814K New QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC 4,000 $180K New BROADCOM INC 1,000 $167K New VIPS Vipshop Holdings Ltd. - ADR 4,000 $63K Reduce -98.1% MOMO Hello Group Inc. -SPN ADR 6,612 $42K Reduce -99.9% AAPL Apple Inc. 100 $22K New
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ MOMO Hello Group Inc. -SPN ADR Reduce -99.9% 0.01% −23.87 IBIT iShares Bitcoin Trust ETF Reduce -78.5% 2.05% −19.33 DOYU Douyu International Hold-ADR Reduce -30.3% 2.76% −9.00 BABA Alibaba Group Holding-SP ADR Sold out 0.00% −2.35 VIPS Vipshop Holdings Ltd. - ADR Reduce -98.1% 0.02% −1.86
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ ALIBABA GROUP HLDG LTD New 26.69% +26.69 EDU New Oriental Educatio-SP ADR New 17.01% +17.01 JOYY Joyy Inc.-ADR Add +249.2% 18.54% +8.06 INTC Intel Corp. New 5.27% +5.27 ATAT Atour Lifestyle Holdings-ADR New 2.86% +2.86 LX Lexinfintech Holdings L-ADR Add +33.0% 18.01% +2.59 HUYA Huya Inc.-ADR New 0.31% +0.31 HTHT H World Group Ltd.-ADR New 0.27% +0.27 QFIN Qfin Holdings Inc.-ADR New 0.06% +0.06 BROADCOM INC New 0.06% +0.06 AAPL Apple Inc. New 0.01% +0.01 RLX RLX Technology Inc.-ADR Add +7.5% 6.07% −6.78
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ ALIBABA GROUP HLDG LTD call Sold out 650,000 $55.1Mbefore exit PDD HOLDINGS INC call Sold out 300,000 $29.1Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 11 $348.7M INTC, ATAT, SNDK, DRAM, ACMR Q1 2026 11 $96.7M VIPS, INTC, JOYY, EDU, GLD Q4 2025 13 $147.5M EDU, HTHT, ATAT, JOYY, INTC Q3 2025 11 $126.5M YMM, HTHT, LX, JOYY, DOYU Q2 2025 9 $112.0M JOYY, LX, EDU, IBIT, DOYU Q1 2025 16 $297.3M ALIBABA GROUP HLDG LTD, JOYY, LX, EDU, RLX Q4 2024 8 $150.2M MOMO, IBIT, LX, RLX, DOYU Q3 2024 8 $127.8M MOMO, VIPS, PDD, DOYU, JOYY Q2 2024 11 $88.7M MOMO, BABAF, PDD, HUYA, IBIT Q1 2024 10 $67.5M PDD, HUYA, SN, NWOEF, SE