Brilliance Asset Management Ltd.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 12, 2026), Brilliance Asset Management Ltd. reported 11 stock positions worth $339.3 million. Its top holding was PDD (PDD) at 35.1% of the portfolio, followed by Full Truck Alliance -SPN ADR (YMM, 24.2%) and Kanzhun Ltd. - ADR (BZ, 19.0%). Compared with Q1 2026, it opened 2 new positions, sold out of 7, added to 5 and reduced 3. The biggest buy was PDD (PDD, shares +122%) and the biggest sale an exit from Onto Innovation (ONTO).
- Most Recent 13F
- Q2 2026
- Location
- ADMIRALTY, HONG KONG, K3
- CIK
- 0001665751
- Portfolio Value
- $339.3M (Q2 2026)
- SEC Filing
- 0001665751-26-000005 ↗ filed Aug 12, 2026
Holdings Value
Holdings 11 stocks · $339.3M
| PDD PDD Holdings Inc. | 35.12% | 1,562,304 | $119.2M | Add +121.8% |
| YMM Full Truck Alliance -SPN ADR | 24.23% | 10,127,735 | $82.2M | Add +55.3% |
| BZ Kanzhun Ltd. - ADR | 18.99% | 5,007,947 | $64.5M | Add +0.6% |
| META Meta Platforms Inc. Class A | 6.83% | 41,137 | $23.2M | New |
| TXN Texas Instruments Inc. | 3.73% | 34,511 | $12.7M | Reduce -24.8% |
| AMZN Amazon.com Inc. | 2.87% | 40,877 | $9.7M | Reduce -37.5% |
| TSM Taiwan Semiconductor-SP ADR | 2.50% | 17,771 | $8.5M | Add +121.9% |
| LX Lexinfintech Holdings L-ADR | 2.21% | 3,800,265 | $7.5M | No change |
| NVDA Nvidia Corp. | 1.20% | 18,206 | $4.1M | Reduce -51.9% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 1.20% | 46,855 | $4.1M | New |
| TCOM Trip.com Group Ltd.-ADR | 1.12% | 95,211 | $3.8M | Add +6.0% |
Portfolio Sells Q1 2026 → Q2 2026
| ONTO Onto Innovation Inc. | Sold out | 0.00% | −11.72 |
| AS Amer Sports Inc. | Sold out | 0.00% | −9.71 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −5.46 |
| FUTU Futu Holdings Ltd.-ADR | Sold out | 0.00% | −1.68 |
| AMZN Amazon.com Inc. | Reduce -37.5% | 2.87% | −1.15 |
| ZTO Zto Express Cayman Inc.-ADR | Sold out | 0.00% | −0.83 |
| NVDA Nvidia Corp. | Reduce -51.9% | 1.20% | −0.74 |
| U Unity Software Inc. | Sold out | 0.00% | −0.47 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.10 |
| TXN Texas Instruments Inc. | Reduce -24.8% | 3.73% | +1.10 |
Portfolio Buys Q1 2026 → Q2 2026
| PDD PDD Holdings Inc. | Add +121.8% | 35.12% | +13.89 |
| YMM Full Truck Alliance -SPN ADR | Add +55.3% | 24.23% | +8.27 |
| META Meta Platforms Inc. Class A | New | 6.83% | +6.83 |
| TSM Taiwan Semiconductor-SP ADR | Add +121.9% | 2.50% | +1.70 |
| KSPI JSC Kaspi.kz ADR | New | 1.20% | +1.20 |
| TCOM Trip.com Group Ltd.-ADR | Add +6.0% | 1.12% | −0.20 |
| BZ Kanzhun Ltd. - ADR | Add +0.6% | 18.99% | −0.67 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 11 | $339.3M | PDD, YMM, BZ, META, TXN |
| Q1 2026 | 16 | $339.1M | PDD, BZ, YMM, ONTO, AS |
| Q4 2025 | 6 | $254.8M | AS, PDD, ONTO, GOOG, LX |
| Q3 2025 | 7 | $187.5M | GOOG, LI, AS, ONTO, LX |
| Q2 2025 | 7 | $153.6M | EDU, YMM, AS, BZ, LI |
| Q1 2025 | 9 | $302.5M | AS, LI, EDU, YMM, BZ |
| Q4 2024 | 7 | $443.9M | AS, BZ, LI, PDD, YMM |
| Q3 2024 | 9 | $390.7M | BZ, LI, AS, TCOM, YMM |
| Q2 2024 | 15 | $398.1M | BZ, LI, TCOM, AS, YMM |
| Q1 2024 | 10 | $453.1M | BZ, LI, TCOM, YMM, AS |