Brilliance Asset Management Ltd.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 12, 2026), Brilliance Asset Management Ltd. reported 16 stock positions worth $339.1 million. Its top holding was PDD (PDD) at 21.2% of the portfolio, followed by Kanzhun Ltd. - ADR (BZ, 19.7%) and Full Truck Alliance -SPN ADR (YMM, 16.0%). Compared with Q4 2025, it opened 10 new positions, added to 3 and reduced 3. The biggest buy was a new position in Kanzhun Ltd. - ADR (BZ) and the biggest sale Amer Sports (AS, shares −64%).
- Most Recent 13F
- Q2 2026
- Location
- ADMIRALTY, HONG KONG, K3
- CIK
- 0001665751
- Portfolio Value
- $339.1M (Q1 2026)
- SEC Filing
- 0001665751-26-000003 ↗ filed May 12, 2026
Holdings Value
Holdings 16 stocks · $339.1M
| PDD PDD Holdings Inc. | 21.23% | 704,489 | $72.0M | Add +18.4% |
| BZ Kanzhun Ltd. - ADR | 19.67% | 4,980,130 | $66.7M | New |
| YMM Full Truck Alliance -SPN ADR | 15.97% | 6,522,380 | $54.1M | New |
| ONTO Onto Innovation Inc. | 11.72% | 193,838 | $39.8M | Reduce -22.3% |
| AS Amer Sports Inc. | 9.71% | 1,000,334 | $32.9M | Reduce -64.4% |
| GOOG Alphabet Inc. Class C | 5.46% | 64,476 | $18.5M | Reduce -18.9% |
| AMZN Amazon.com Inc. | 4.02% | 65,416 | $13.6M | New |
| TXN Texas Instruments Inc. | 2.63% | 45,906 | $8.9M | Add +27.1% |
| LX Lexinfintech Holdings L-ADR | 2.44% | 3,800,265 | $8.3M | Add +5.5% |
| NVDA Nvidia Corp. | 1.94% | 37,810 | $6.6M | New |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 1.68% | 41,607 | $5.7M | New |
| TCOM Trip.com Group Ltd.-ADR | 1.32% | 89,838 | $4.5M | New |
| ZTO Zto Express Cayman Inc.-ADR | 0.83% | 112,444 | $2.8M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.80% | 8,009 | $2.7M | New |
| U Unity Software Inc. | 0.47% | 73,389 | $1.6M | New |
| BABA Alibaba Group Holding-SP ADR | 0.10% | 2,754 | $346K | New |
Portfolio Sells Q4 2025 → Q1 2026
Portfolio Buys Q4 2025 → Q1 2026
| BZ Kanzhun Ltd. - ADR | New | 19.67% | +19.67 |
| YMM Full Truck Alliance -SPN ADR | New | 15.97% | +15.97 |
| AMZN Amazon.com Inc. | New | 4.02% | +4.02 |
| NVDA Nvidia Corp. | New | 1.94% | +1.94 |
| FUTU Futu Holdings Ltd.-ADR | New | 1.68% | +1.68 |
| TCOM Trip.com Group Ltd.-ADR | New | 1.32% | +1.32 |
| ZTO Zto Express Cayman Inc.-ADR | New | 0.83% | +0.83 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.80% | +0.80 |
| U Unity Software Inc. | New | 0.47% | +0.47 |
| TXN Texas Instruments Inc. | Add +27.1% | 2.63% | +0.17 |
| BABA Alibaba Group Holding-SP ADR | New | 0.10% | +0.10 |
| LX Lexinfintech Holdings L-ADR | Add +5.5% | 2.44% | −2.18 |
| PDD PDD Holdings Inc. | Add +18.4% | 21.23% | −5.26 |
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 |