Brilliance Asset Management Ltd.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Brilliance Asset Management Ltd. reported 7 stock positions worth $153.6 million. Its top holding was New Oriental Educatio-SP ADR (EDU) at 35.7% of the portfolio, followed by Full Truck Alliance -SPN ADR (YMM, 21.9%) and Amer Sports (AS, 20.3%). Compared with Q1 2025, it opened 1 new position, sold out of 3, added to 1 and reduced 4. The biggest buy was a new position in Lexinfintech Holdings L-ADR (LX) and the biggest sale Li Auto Inc. - ADR (LI, shares −86%).
- Most Recent 13F
- Q2 2026
- Location
- ADMIRALTY, HONG KONG, K3
- CIK
- 0001665751
- Portfolio Value
- $153.6M (Q2 2025)
- SEC Filing
- 0001665751-25-000006 ↗ filed Aug 11, 2025
Holdings Value
Holdings 7 stocks · $153.6M
| EDU New Oriental Educatio-SP ADR | 35.70% | 1,016,471 | $54.8M | No change |
| YMM Full Truck Alliance -SPN ADR | 21.89% | 2,847,336 | $33.6M | Reduce -5.6% |
| AS Amer Sports Inc. | 20.33% | 805,842 | $31.2M | Reduce -77.3% |
| BZ Kanzhun Ltd. - ADR | 10.87% | 936,436 | $16.7M | Reduce -48.7% |
| LI Li Auto Inc. - ADR | 5.04% | 285,428 | $7.7M | Reduce -86.0% |
| AMD Advanced Micro Devices | 3.11% | 33,665 | $4.8M | Add +473.3% |
| LX Lexinfintech Holdings L-ADR | 3.07% | 653,131 | $4.7M | New |
Portfolio Sells Q1 2025 → Q2 2025
| LI Li Auto Inc. - ADR | Reduce -86.0% | 5.04% | −11.92 |
| AS Amer Sports Inc. | Reduce -77.3% | 20.33% | −11.07 |
| FUTU Futu Holdings Ltd.-ADR | Sold out | 0.00% | −5.87 |
| TPR Tapestry Inc. | Sold out | 0.00% | −3.20 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −2.00 |
| BZ Kanzhun Ltd. - ADR | Reduce -48.7% | 10.87% | −0.69 |
| YMM Full Truck Alliance -SPN ADR | Reduce -5.6% | 21.89% | +9.15 |
Portfolio Buys Q1 2025 → Q2 2025
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 |