Brilliance Asset Management Ltd.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Brilliance Asset Management Ltd. reported 7 stock positions worth $187.5 million. Its top holding was Alphabet Class C (GOOG) at 24.7% of the portfolio, followed by Li Auto Inc. - ADR (LI, 24.1%) and Amer Sports (AS, 19.7%). Compared with Q2 2025, it opened 3 new positions, sold out of 3, added to 3 and reduced 1. The biggest buy was a new position in Alphabet Class C (GOOG) and the biggest sale New Oriental Educatio-SP ADR (EDU, shares −76%).

Most Recent 13F
Q2 2026
Location
ADMIRALTY, HONG KONG, K3
CIK
0001665751
Portfolio Value
$187.5M (Q3 2025)
SEC Filing
0001665751-25-000008 ↗ filed Nov 12, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $453.1M Q1 2024 Q2 2024: $398.1M Q2 2024 Q3 2024: $390.7M Q3 2024 Q4 2024: $443.9M Q4 2024 Q1 2025: $302.5M Q1 2025 Q2 2025: $153.6M Q2 2025 Q3 2025: $187.5M $187.5M Q3 2025 Q4 2025: $254.8M Q4 2025 Q1 2026: $339.1M Q1 2026 Q2 2026: $339.3M Q2 2026

Holdings 7 stocks · $187.5M
GOOG Alphabet Inc. Class C 24.69% 190,090 $46.3M New
LI Li Auto Inc. - ADR 24.08% 1,781,895 $45.2M Add +524.3%
AS Amer Sports Inc. 19.65% 1,060,309 $36.8M Add +31.6%
ONTO Onto Innovation Inc. 15.07% 218,601 $28.2M New
LX Lexinfintech Holdings L-ADR 8.24% 2,899,649 $15.5M Add +344.0%
EDU New Oriental Educatio-SP ADR 6.92% 244,534 $13.0M Reduce -75.9%
NVDA Nvidia Corp. 1.33% 13,414 $2.5M New

Portfolio Sells Q2 2025 → Q3 2025
EDU New Oriental Educatio-SP ADR Reduce -75.9% 6.92% −28.77
YMM Full Truck Alliance -SPN ADR Sold out 0.00% −21.89
BZ Kanzhun Ltd. - ADR Sold out 0.00% −10.87
AMD Advanced Micro Devices Sold out 0.00% −3.11

Portfolio Buys Q2 2025 → Q3 2025
GOOG Alphabet Inc. Class C New 24.69% +24.69
LI Li Auto Inc. - ADR Add +524.3% 24.08% +19.05
ONTO Onto Innovation Inc. New 15.07% +15.07
LX Lexinfintech Holdings L-ADR Add +344.0% 8.24% +5.18
NVDA Nvidia Corp. New 1.33% +1.33
AS Amer Sports Inc. Add +31.6% 19.65% −0.68

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 11$339.3MPDD, YMM, BZ, META, TXN
Q1 2026 16$339.1MPDD, BZ, YMM, ONTO, AS
Q4 2025 6$254.8MAS, PDD, ONTO, GOOG, LX
Q3 2025 7$187.5MGOOG, LI, AS, ONTO, LX
Q2 2025 7$153.6MEDU, YMM, AS, BZ, LI
Q1 2025 9$302.5MAS, LI, EDU, YMM, BZ
Q4 2024 7$443.9MAS, BZ, LI, PDD, YMM
Q3 2024 9$390.7MBZ, LI, AS, TCOM, YMM
Q2 2024 15$398.1MBZ, LI, TCOM, AS, YMM
Q1 2024 10$453.1MBZ, LI, TCOM, YMM, AS