Perseverance Asset Management International In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 12, 2026), Perseverance Asset Management International reported 18 stock positions worth $977.3 million . Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 24.4% of the portfolio, followed by H World Group Ltd.-ADR (HTHT, 17.2% ) and PDD (PDD, 16.9% ). Compared with Q1 2026, it opened 3 new positions, sold out of 6, added to 9 and reduced 4. The biggest buy was Kanzhun Ltd. - ADR (BZ, shares +175% ) and the biggest sale Nvidia (NVDA, shares −72% ).
Location GEORGE TOWN, E9
CIK 0001802695
Portfolio Value $977.3M (Q2 2026) Holdings 18 stocks · $977.3M 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 Q1 2026 TSM Taiwan Semiconductor-SP ADR 498,500 $238.1M Add +11.6% HTHT H World Group Ltd.-ADR 4,035,321 $168.4M Add +4.0% PDD PDD Holdings Inc. 2,163,479 $165.0M Add +0.1% BZ Kanzhun Ltd. - ADR 11,798,246 $151.8M Add +175.2% TCOM Trip.com Group Ltd.-ADR 1,034,085 $41.2M Add +53.2% MU Micron Technology Inc. 34,417 $39.7M Add +283.5% SNDK Sandisk Corp. 16,000 $36.4M Add +192.0% GOOG Alphabet Inc. Class C 100,000 $35.3M No change YUMC Yum China Holdings Inc. 837,114 $34.2M Add +17.2% BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 1,652,669 $24.0M Add +18.8% NVDA Nvidia Corp. 80,000 $16.0M Reduce -72.4% RLX RLX Technology Inc.-ADR 7,360,737 $14.0M Reduce -1.8% NTES Netease Inc.-ADR 40,000 $5.1M Reduce -76.5% IQ Iqiyi Inc.-ADR 3,900,000 $4.1M Reduce -18.8% YSG Yatsen Holding Ltd.-ADR 529,993 $1.7M No change WRD Weride Inc.-ADR 260,000 $1.5M New V Visa Inc. Class A 1,419 $487K New BABA Alibaba Group Holding-SP ADR 3,399 $326K New
Options reported separately and not counted above: VRT puts ($1.7M).
Portfolio Sells Q1 2026 → Q2 2026 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 Q1 2026 % Of Portfolio Change To Portfolio ▲ NVDA Nvidia Corp. Reduce -72.4% 1.64% −3.93 FUTU Futu Holdings Ltd.-ADR Sold out 0.00% −2.26 LITE Lumentum Holdings Inc. Sold out 0.00% −1.93 NTES Netease Inc.-ADR Reduce -76.5% 0.52% −1.57 XPEV Xpeng Inc. - ADR Sold out 0.00% −1.51 MOS The Mosaic Co. Sold out 0.00% −0.84 AMD Advanced Micro Devices Sold out 0.00% −0.67 RLX RLX Technology Inc.-ADR Reduce -1.8% 1.43% −0.38 IQ Iqiyi Inc.-ADR Reduce -18.8% 0.41% −0.30 NIO Nio Inc. - ADR Sold out 0.00% −0.05
Portfolio Buys Q1 2026 → Q2 2026 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 Q1 2026 % Of Portfolio Change To Portfolio ▼ BZ Kanzhun Ltd. - ADR Add +175.2% 15.54% +9.22 TSM Taiwan Semiconductor-SP ADR Add +11.6% 24.36% +7.76 MU Micron Technology Inc. Add +283.5% 4.06% +3.73 SNDK Sandisk Corp. Add +192.0% 3.72% +3.34 TCOM Trip.com Group Ltd.-ADR Add +53.2% 4.22% +0.52 BEKE Ke Holdings Inc.-ADR Add +18.8% 2.46% +0.17 WRD Weride Inc.-ADR New 0.15% +0.15 V Visa Inc. Class A New 0.05% +0.05 BABA Alibaba Group Holding-SP ADR New 0.03% +0.03 YUMC Yum China Holdings Inc. Add +17.2% 3.50% −0.33 HTHT H World Group Ltd.-ADR Add +4.0% 17.23% −4.25 PDD PDD Holdings Inc. Add +0.1% 16.89% −7.41
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ VRT Vertiv Holdings Co. Class A put New 5,000 $1.7M
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 18 $977.3M TSM, HTHT, PDD, BZ, TCOM Q1 2026 21 $909.0M PDD, HTHT, TSM, BZ, NVDA Q4 2025 13 $682.5M HTHT, PDD, GOOG, YUMC, BEKE Q3 2025 15 $582.0M HTHT, PDD, GOOG, YUMC, RLX Q2 2025 9 $397.4M HTHT, PDD, YUMC, AS, RLX Q1 2025 22 $765.5M HTHT, PDD, BEKE, YUMC, BZ Q4 2024 19 $742.0M PDD, HTHT, BEKE, YUMC, META Q3 2024 17 $867.8M PDD, HTHT, NTES, YUMC, BEKE Q2 2024 19 $762.5M PDD, HTHT, NTES, IQ, META Q1 2024 21 $553.8M PDD, ZTO, HTHT, IQ, TME