13F HOLDINGS REPORT
Perseverance Asset Management International
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001802695-25-000012
Total Value
$582.0M
Positions
23
Other Managers
1
Confidential Omitted
No
Holdings (23)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | H WORLD GROUP LTD | HWLDF | 2,776,255 | $108.6M | 18.66% |
| 2 | PDD HOLDINGS INC | PDD | 750,878 | $99.2M | 17.05% |
| 3 | H WORLD GROUP LTD | HWLDF | 2,424,928 | $94.8M | 16.30% |
| 4 | PDD HOLDINGS INC | PDD | 582,357 | $77.0M | 13.23% |
| 5 | ALPHABET INC | GOOG | 300,000 | $73.1M | 12.55% |
| 6 | YUM CHINA HLDGS INC | YUMC | 713,999 | $30.6M | 5.27% |
| 7 | AMER SPORTS INC | AS | 539,118 | $18.7M | 3.22% |
| 8 | NETEASE INC | NETTF | 92,000 | $14.0M | 2.40% |
| 9 | IQIYI INC | IQ | 5,300,000 | $13.6M | 2.33% |
| 10 | RLX TECHNOLOGY INC | RLX | 4,545,383 | $12.0M | 2.05% |
| 11 | KE HLDGS INC | BEKE | 574,849 | $10.9M | 1.88% |
| 12 | RLX TECHNOLOGY INC | RLX | 2,920,184 | $7.7M | 1.32% |
| 13 | KANZHUN LIMITED | BZ | 251,642 | $5.9M | 1.01% |
| 14 | ISHARES TR | 464287432 | 59,100 | $5.3M | 0.91% |
| 15 | NETEASE INC | NETTF | 20,000 | $3.0M | 0.52% |
| 16 | CANADA GOOSE HLDGS INC | GOOS | 220,000 | $3.0M | 0.52% |
| 17 | KE HLDGS INC | BEKE | 85,000 | $1.6M | 0.28% |
| 18 | SUMMIT THERAPEUTICS INC | SMMT | 54,141 | $1.1M | 0.19% |
| 19 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 3,141 | $877,250 | 0.15% |
| 20 | ATRENEW INC | RERE | 97,850 | $450,110 | 0.08% |
| 21 | IQIYI INC | IQ | 90,000 | $230,400 | 0.04% |
| 22 | AMER SPORTS INC | AS | 4,286 | $148,939 | 0.03% |
| 23 | SUMMIT THERAPEUTICS INC | SMMT | 5,604 | $115,779 | 0.02% |